what are the things that you need to know before learning forex trading?
I mean what do I need to learn? I’ve searched up on websites like forex for noobs or baby forex (a site for forex newbie like myself..) but I failed to understand what the heck they’re talking about so basically I figured out that I’m missing something what do I need to learn before learning forex trading?
First you need to learn before learning forex trading, about:
Market participants in Forex: Banks, Commercial companies, Central banks, Hedge funds as speculators, Investment management firms, Retail foreign exchange brokers, Non-bank Foreign Exchange Companies, Money Transfer / Remittance Companies.
Forex trading characteristics
Determinants of Forex Rates
Economic factors:
Economic policy comprises government fiscal policy and monetary policy.
Economic conditions include:
* Government budget deficits or surpluses
* Balance of trade levels and trends
* Inflation levels and trends
* Economic growth and health
* Productivity of an economy
Political conditions: Internal, regional, and international political conditions and events can have a profound effect on currency markets.
Market psychology: Flights to quality, Long-term trends, "Buy the rumor, sell the fact", Economic numbers.
Financial instruments: Spot, Forward, Future, Swap, Option, Exchange-Traded Fund.
….and more…..
March 28th, 2010 at 4:51 pm
No worries on this.
i understand what you mean. What is short? What is long?
What the heck is a spread?
This is a long yet fulfilling journey. Allow me to give you one of the best advice around.
Learn about money management.
This is very important.
Well i write articles on forex at my blog for newbies. These subjects were stuff i was confused too previously!
Hope it helps.
References :
http://www.thegeekknows.com
March 28th, 2010 at 5:38 pm
visit this site maybe it could help you..
http://www.currency-trading-tutorial.net/
hope it help you..goodluck..
References :
March 28th, 2010 at 6:28 pm
You need to spend your money and time to know…
what if your money made you 1 – 10% or 10% to 200% per month
with no risk at all,what if you dont need to work and just enjoy life
what if you can watch your wealth growing while you are having fun
visit
myfxfunds.com
hsfxasset.com
hgnfx.com
forexearocks.yolasite.com
References :
March 28th, 2010 at 6:54 pm
As a forex trader myself, you should be playing attention more on the trade management and risk management. The trading strategies-wise can be researched from books or internet. Discipline is the key towards being successful in forex. You should also learn fundamental and technical analysis in forex trading.
References :
http://info-on-the-web.com/l.php?c=Crassula
March 28th, 2010 at 7:07 pm
First you need to learn before learning forex trading, about:
Market participants in Forex: Banks, Commercial companies, Central banks, Hedge funds as speculators, Investment management firms, Retail foreign exchange brokers, Non-bank Foreign Exchange Companies, Money Transfer / Remittance Companies.
Forex trading characteristics
Determinants of Forex Rates
Economic factors:
Economic policy comprises government fiscal policy and monetary policy.
Economic conditions include:
* Government budget deficits or surpluses
* Balance of trade levels and trends
* Inflation levels and trends
* Economic growth and health
* Productivity of an economy
Political conditions: Internal, regional, and international political conditions and events can have a profound effect on currency markets.
Market psychology: Flights to quality, Long-term trends, "Buy the rumor, sell the fact", Economic numbers.
Financial instruments: Spot, Forward, Future, Swap, Option, Exchange-Traded Fund.
….and more…..
References :
What is Forex Trading ?
http://www.tips-advice.ro/forex-tips-advice/forex-what-is-tips-advice.php
March 28th, 2010 at 7:49 pm
Take up a basic course on forex trading. There are some good ones around. Especially those that have a lot of videos.
References :
March 28th, 2010 at 7:58 pm
DailyFX has a section on the site on the basics for forext trading http://www.dailyfx.com/how_to_trade_forex/learn_forex/ .
If you want more detailed descriptions of specific words in relation to forex trading such as spread, pip, long, short, the website http://www.fxwords.com has definitions.
References :