Well , I have started the Forex practise accounts but 2 days down I haven't really done any trades. I have been so damn busy and well power supply has been crazy down here.I haven't been able to get those PIPS going.
This is a bad way to start FOREX especially concerning the promise it offers and the leverage that one gets in this business. However while Forex is still top on my mind everyday. Forex requires that you get the right trading skills before jumping in.
Besides after the Fed dropped interest rates the dollar has been so week that even finding 20-pips daily has been such a chore. I will study my chart now and see if I can try to GUESS the direction that the EUR/USD pair will go.But the dollar is damn hell losing value. Odious.
Saturday, December 29, 2007
Forex Market Worldwide
A very good question.Well The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world, with a daily average turnover of US$2.5 trillion.
This definitly is the biggest market worldwide and there is thus no reason whatsoever why anyone with basic money skills should not get involved. Forex is the method of buying and selling currencies online.
Banks and major financial institutions make a huge percentage of their profits from Forex trading. With the development and spread of the internet individuals and investors now have the opportunity to make money with Internet Forex trading.
My best resource on what forex is wikipedia on forex and my best resource on properly learning forex is www.babypips.com
This definitly is the biggest market worldwide and there is thus no reason whatsoever why anyone with basic money skills should not get involved. Forex is the method of buying and selling currencies online.
Banks and major financial institutions make a huge percentage of their profits from Forex trading. With the development and spread of the internet individuals and investors now have the opportunity to make money with Internet Forex trading.
My best resource on what forex is wikipedia on forex and my best resource on properly learning forex is www.babypips.com
Thursday, November 29, 2007
Forex Plane Chart
Forex Plane Chart
Just as a Pilot will not fly without his dashboard and navigation equipment so also in Forex Markets the trader will not just jump into a trading day without doing some homework. This is a very serious game about Money and thus it is recommended that a trader spends about 2 hours just going over the Market and looking at his indicators before he tries to do anything whatsoever.
The Forex Market trader's navigational chart is composed of the 4 following.
Just as a Pilot will not fly without his dashboard and navigation equipment so also in Forex Markets the trader will not just jump into a trading day without doing some homework. This is a very serious game about Money and thus it is recommended that a trader spends about 2 hours just going over the Market and looking at his indicators before he tries to do anything whatsoever.
The Forex Market trader's navigational chart is composed of the 4 following.
MACD, Moving Average Convergence Divergence
Pivot Points, ahh ! I just love Pivot PointsTrendlines,
Tom De Marks dynamic trendlines
Time Frames. What time frame are you trading ? 1min, 5min, 15min etc etc
Forex the sure way to financial freedom.
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