Forex How to

September 1, 2009

Forex trading article

Filed under: Articles — Tags: , — Admin @ 11:05 am

Forex trading is different from day trading.

Forex is a short form of Foreign Exchange market. Instead of using the whole world people refer to it as FOREX. It is one of the biggest exchange market related to finance which was actually started in the year 1973. The daily turnover is estimated to in not billions but in trillions of dollars.

Unlike other securites the Foreign exchange does’nt trade on a fixed rate of exchange. Here there is an exchange in currencies which is traded generally between big banks (commerical and central), Corps and personal investors. Earlier small investors were not included in Forex because of the huge amount of money involved as deposits. This was changed later in the mid nineties and now the case is that even a small investor can trade alongside the big multinationals. This has lead to a big increase in the number of traders in the foreign exchange market. Forex education has also seen a growth because of the growth in Forex courses that have appeared in the market to teach traders more on forex market.

Most forex experts advise that you should take a forex training course even before you open up an account for trading. It is important that you know the market mechanics of the Foreign exchange market and that you can analyse the Forex market comfortably. This is why the potential FOREX traders either go for a forex training course available in the market or buy forex books to study them before that start trading. The modern day books and softwares can teach better forex since they involve proper charts , graphs and analysis data.

The books can only teach you stuff from the point of view of one specialist. This is why you should keep yourself updated on the topic and read more books on the forex topic written by different experts/authors.

Also note that the FOREX market is highly unpredictable therefore you should have indepth knowledge and different strategies under your belt to make big profits in this arena.

My final advice to you would be that you should do a thorough research in the forex market before jumping into it as there are many factors like political issues that can affect the inflow and outflow of finance in the market.

If you wish to enroll in a forex course then the best advice to you would be that you do some background research on the FOREX market and only then enroll for a course.

Forex education

Filed under: Faq — Tags: , , — Admin @ 7:32 am

Free Forex Education?

Where can I learn about forex?

Answer

http://www.forextko.com offers FX education, real-time exchange rates, forex news, currency analysis, market forecasts and daily technical charts, Forex reviews of brokers, trading signal providers, courses, ebooks and managed accounts. They also offer a free book on forex for beginners http://forextko.com/Education

Source(s):

A Good emini and Forex education?

Can someone please recommend a good emini system/education and the same for Forex. Please be relevant to only these to, don’t send in links that are other money making opps, sorry but I am really only interested in learning this at present. Also if you have any experience with who you recommend could you please detail it. Thanks so much.

Answer

You must be a genius to think you can handle two of the most difficult markets at the same time. Most of the few people that master these markets take years before they are consistanty profitable.

My first suggestion is to read;

Millionaire Traders by Schlossberg and Lein.

Schlossberg and Lein are well known in the Forex world… this book is mostly a general examination of what it takes to be successful trading.

The most important part of trading, money management and psychology are common to all markets. If you don’t master this… it doesn’t matter how much “technical” or “how to” books or classes you are involved in.

Here’s a general list of books. I’ve read just about all of them;

http://blog.rebeltraders.net/reading-lis…

You should also be lerarning “Techancal Analysis”. John Murphy, John Carter & Tim knight are good authors to start. Kathy Lein and Boris Schlossberg (each) have some decent technical analysis books in Forex.

This is hard work. Over 96% of all new traders are gone after the first 3-6 months. The few that remain have a small percentage that can be profitable.

good luck.

Where can i find forex education providers in Penang?

i prefer the forex education provider to have a physical location, money-back-guarantee and free preview…i don’t want to be forced into anything too quickly…

Answer

you can try FX1 academy..i think it’s the only one with physical location in Penang. it’s located at Jalan Imigresen(behind Heritage Hotel 1926). They do provide Free Forex Class..it’s kinda like a preview. I heard they offer 6 months money back guarantee if u lose even a single sen trading using your demo account…..u can visit their Malaysia website at www.fx1.com.my.

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