Forex Trading 101

What is trading forex, currency and managed fx?

Articles I’ve pasted below, will help you understand what forex trading.

Hi

1. Generally speaking, what are the fundamental factors you look out for when trading a currency pair?
e.g. USD/JPY?

2. Wouldn’t this be generally useless if you’re day-trading? Unless you’re trading at the point in time when the news emerges.

3. Is TA sufficient to do well day-trading?

thanks

The only fundamental things that are powerful enough to move the Forex are things that are calamities that are on CNN 24/7 for several weeks. For example, speaking of USD/JPY, look at it on a daily chart starting when the tsunami hit Japan and thereafter, it went down for a while. But as soon as it was old news and people stopped talking about it, well, it went back up again, from what I remember anyway.

To be successful with the Forex, you need two things strategy-wise…
1) You need a strategy. They are NOT as hard to come by as people suggest, in fact, you can select from a list of 8000 of them right here: http://tinyurl.com/3tcla4v
2) Then you need good money management. Even with the best strategy, if you trade too large of lots, or you do poor money management (aka impatience, greed, etc) you’ll blow your account.

I suggest that you open a demo account at the above link, and add ALL of the top 20 strategies to it, and let the demo run for a month or so. If it does well after a month, you can then weed out any of the strategies that didn’t do so well at that point. I suggest following multiple strategies rather than just one, because more strategies = more stability. Any strategy can go bad at any time, no matter how good it’s done in the past. But following multiple good strategies means that if several go bad, you’re still in the green.

If it does well after a month or two and you are ready to go live, then I highly advise you to NOT put a large amount of money in to start. If you have a lot of money, put it in gradually. Start with around $2000, and then let that go for a month or more. IF it is in the green after a month, then add more money if you wish, and gradually increase the lot sizes as you gradually add more money. Never add money in if it has lost money. In other words, never add money to make up for a loss. If the account has a loss, it must make that loss back on it’s OWN, not by YOU adding your own money in! And that takes a lot of patience because some times it can take it a while to make it back, and during that time, you have to wait. So patience is key. But For example, if you have a hundred thousand dollars to put into the Forex, I would say it should take you 6 months to a year to get it all uploaded into the Forex. Because you start with 2k, then let than run a month. And if it does well, then you double it, and let that run another month. And if that also does well, then you double it again, etc. It’s much safer that way, because if you do some horrible miscalculation, most likely you’ll have the loss early when your account is just $2000, rather than lose your whole $100,000!

Also, be sure to go with a no dealing desk broker, like FXCM. I hope all this info helps. If you have any questions, you are welcome to private message me anytime.

I am looking for a FX Money trading Account that allows you to hedge your bets and start with a training or practice account so that you can get use to their platform.

Hi,
Most FX trading companies have practice trading accounts like FXCM and OZ Forex. I used Compass Global Markets http://www.compassmarkets.com/ trial platform as I can use it for aslong as I wish.

It is relatively easy to find the overall volume in FX spot trading for the big banks, but how many % profit do they make on this volume? need it for a MBA thesis

you’re asking on yahoo answers for your mba thesis, a masters degree?
anyway, ft had a special report on fx today if you’re going to go this route.

www.coinmill.com

Atlantic FX WinTrader is a foreign exchange trading technology for Forex market makers (dealers) and Forex brokers. Atlantic FX WinTrader Trading Platforms presents the most complete set of features covering all areas of Forex trading, what makes it the number one on the global Forex trading software market today.

Here i s an excellent site with some wonderful options for you. It will definitely help you. Have a look. http://bsfinance.notlong.com/6AAupWv

http://forextradingseminar.com Travel the world and take your entire business along in your pocket. Mobile devices and Forex trading = freedom.

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The ‘Forex Trading’ free Joomla 1.5 template supports a 4-column layout and is offered in 3 color schemes: Blue-Orange, Red-Grey and Violet-Blue. To download the template go to http://www.themza.com/joomla1.5/forex-trading-template.html

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http://www.fxtrainingzone.com :: Two GBP/USD trades explained. Includes EMA’s / trendlines / MACD / pivot points! Any questions please ask.

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