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• Archive: From the Inside FlapThe Psychology of the Foreign Exchange Market.This book offers a fascinating understanding of the decisions that determine exchange rates.
• It sheds light on the psychology behind spectacular market phenomena as well as on subliminal processes in daily trading decisions.In an understandable and engaging analysis of his research with many of the world's leading market participants, Thomas Oberlechner draws on the first-hand expertise of the professionals whose decisions shape the market.
• Expanding the field of behavioral finance, The Psychology of the Foreign Exchange Market incorporates new insights from a variety of psychological perspectives - ranging from social market dynamics; the role of affects and intuition in trading decisions; cognitive biases of traders; psychological risk-taking phenomena; subjective attitudes in market expectations; the interdependent relationship between trading institutions and the financial news media; the dynamics of market rumors, and personality characteristics of successful traders; to the role of metaphors in the decisions of participants and the nature of the market.From the Back CoverThis book offers a fascinating understanding of the decisions that determine exchange rates.
• It sheds light on the psychology behind spectacular market phenomena as well as on subliminal processes in daily trading decisions.In an understandable and engaging analysis of his research with many of the world’s leading market participants, Thomas Oberlechner draws on the first-hand expertise of the professionals whose decisions shape the market.
• Expanding the field of behavioral finance, The Psychology of the Foreign Exchange Market incorporates new insights from a variety of psychological perspectives - ranging from social market dynamics; the role of affects and intuition in trading decisions; cognitive biases of traders; psychological risk-taking phenomena; subjective attitudes in market expectations; the interdependent relationship between trading institutions and the financial news media; the dynamics of market rumors, and personality characteristics of successful traders; to the role of metaphors in the decisions of participants and the nature of the market."Economists propose elegant theories and sophisticated models to explain exchange rates, but to no avail.