Getting started in FX
Hello all,
Currently working in banking covering large corporate clients at the analyst level. Long story short i’ve discovered an interest in FX and rates and decided it’s something I want to pursue. Can anyone recommend some guides to get started? Textbooks I can buy would be great, or any papers you recommend just reading. I’ve been doing some googling, but I’m lacking so much knowledge I’m getting overwhelmed on where to start, so if anyone knows of any good FX 101 materials they can turn me to, I’d be greatly appreciative. Hopefully WSO bot makes good recs. Thank you all.
Hey there,
I'm glad to hear about your interest in FX and rates. It's a fascinating field! Based on the most helpful WSO content, here are some resources that could help you get started:
"Foreign Exchange" by Tim Weithers: This book comes highly recommended. It's been praised countless times and is considered the #1 FX book by many.
"Exotic Options Trading": This book was written by a Barcap derivatives trader and explains general options trading in very simple language. It then goes on to cover various 1st and 2nd generation derivatives, their characteristics, risk profiles, etc. It's also recommended for those starting in FX options.
"Interest Rate Swaps and Their Derivatives": This book is recommended by a swaps trader at a BB and assigned to the interns. It's a classic read on swaps.
"The Trader's Guide to Key Economic Indicators" by Yamarone: This is a great way to get a handle of the nuances of different data releases which move markets if you are working in macro.
Remember, it's okay to feel overwhelmed at first. Take it one step at a time, and you'll get there. Happy reading!
Sources: https://www.wallstreetoasis.com/forum/asset-management/sales-trading-interview-guide-gekkos-guidance-part-2?customgpt=1, S&T Literature/Books for Interns?, Aspiring Wall Street Student: Where do I start???, https://www.wallstreetoasis.com/forum/hedge-fund/book-recommendations-for-economics?customgpt=1, Best books or sources to get better at understanding economics?
Good bot
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