Review
“…there are enough gems in there to keep you reading on.” (The Technical Analyst, March/April, 30th March 2005)
Review
“…there are enough gems in there to keep you reading on.” (The Technical Analyst, March/April, 30th March 2005)
Book Description
This book demystifies the foreign exchange market by focusing on the people who comprise it. Drawing on the expertise of the very professionals whose decisions help shape the market, Thomas Oberlechner describes the highly interdependent relationship between financial decision makers and news providers, showing that the assumption that the foreign exchange market is purely economic and rational has to be replaced by a more complex market psychology.
From the Inside Flap
The 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.
About the Author
THOMAS OBERLECHNER is Professor of Psychology at Webster University. He was trained in Vienna and at Harvard University, where he wrote this book as a visiting scholar. His research on psychological aspects of financial markets has appeared in numerous academic journals in psychology and finance.
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