Learn Forex Blog

nahmas_2006 asked:


I would like to start trading currency. I am just going to start with a small amount and see how it goes. This is all new to me so any tips would be greatly appreciated.
Thanks

BRAMMELL

CrazyDelicious asked:


Has anyone of you ever traded at the forex market and won trading currencies. If yes, then please share your trading techniques with others, so we can learn something from you.

CUSANELLI

Blurred asked:


Im interested in both long term investments and short term trading. First question-Which course should I learn? Im caught between Futures,Options,Forex,CFDs. I have attended countless free workshops regarding all the above instruments but have yet to settle on one. Second question-Is there a trading system which i can apply for all the instruments above? Third question-Does learning Technical Analysis allows me to trade successfully in all of the instruments above? If so, there’s no need for me to go in depth mastering of the strategies involved for each individual instruments above as Technical Analysis have covered them? How about Fundamental Anaylsis for trading? Necessary?

Confused, Overwhelmed, Frustrated….

SEENEY

Gentleman_Loves_U asked:


Let me see how many of us show interest in the above. Even if you don’t know, let is take this as the opportunity to learn.

This would give us a broad spectrum of life around us, world politics and the actual reasons of wars.

If someone is knowledgeable on the above, please explain in simple words (for everyone to understand) each of the subjects.

I don’t need jokes or comments here. If you are not interested in this topic, please leave us alone. We are trying to learn here.
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Don’t forget to star if you like this question … Hey this is only a reminder, not a request.

MONEYMAKER

Andy asked:


I know little about online trading or (investing in general), but I want to learn especially about Forex. All I know is buy low and sell hi concept which is self-explanatory and common sense in all trading.

However, do I HAVE to have a broker to trade online? After I learn about Forex trading, can’t I just open an account, do the practice trading for months or even a year, and do the trading myself online? Is this a common practice, or do majority of investors hire a Forex broker to do the trading for them?

LASKA

Kelly Price asked:


If you want learn forex trading, you need to get the right Forex education and work smart and you will be able to join the elite 5% who make big profits and avoid joining the losing majority. Let’s look at how to learn Forex trading the right way.

1. You are Responsible

If you think that someone can sell you an e-book or forex trading system and make you rich think again. While you can get good forex education from some sources you can’t follow it blindly.

Successful trading comes from within and means having a forex trading strategy you understand and have confidence in, so you need to do some homework.

If you don’t understand EXACTLY how your Forex method works, you won’t have confidence in it and you won’t have the discipline to follow it through losing periods.

2. Avoiding Common Pitfalls

Many traders put in a lot of effort but get the wrong forex education and try methods that are never going to work.

Here are the two most common errors you can make:

Day trading:

This method makes me laugh, you can’t win and its obvious why - all the data is random. 95% of forex traders lose but this increases to 100% in the case of day trading.

Predicting:

Many traders think they have to predict where prices are going to win - but predicting is really hoping or guessing and you won’t make money relying on hope. You need to act on confirmation and I will come back to this later.

Also many traders fall for the markets move to scientific theory - rubbish! They don’t. If markets moved to scientific theory, we would all know the price in advance and there would be no market.

There the two most common mistakes and there are many more - they are mostly believed by lazy traders who think trading is easy.

3. A Forex Trading System For profit

You can build one easily and it only needs to be simple and your all set to trade for profit.

If you learn Forex trading correctly you will see why - simple trading systems are more robust and have fewer elements to break.

Use Forex technical analysis and charts and ignore the news. If you do it based upon charting you will be able to simply follow price trends and lock into them.

A simple currency trading system that trades support and resistance is ideal - you either look for it to hold or break and go with the potential move. What you need to do is CONFIRM you’re trading signals before entering.

Most traders like to simply buy into support and hope it holds and predict.

What you really need to do is wait for support to hold, by watching price momentum turn up – You are then trading with the odds. If you don’t know about momentum indicators look them up.

If prices break above resistance learn to go with the break and learn breakout methodology. Most major moves start from new market HIGHS not lows - so learn to go with the breaks based upon momentum.

That’s a simple system outlined that will work just support resistance and some momentum indicators.

4. Deal With Risk and leverage

Leverage is what makes Forex trading so lucrative and also destroys novice accounts because they can’t handle it.

You need to learn to take calculated risks when the odds are in your favour and employ strict money management. Don’t make the mistake of trying to restrict risk to much as you will simply create it and guarantee you will be stopped out.

It’s a balancing act you need to take risks but make sure the odds are in your favour when you do

5. A Plan For Profit

In any business you need a plan and Forex trading is no different, set a target and work towards it.

If you were to compound 100% per annum you will be up there with the best traders in the world.

Be patient in reaching your goal – good high odds trades don’t come around everyday, so trade sparingly.

I know traders who trade just a few times a year and compound 100% or more!

Keep in mind in forex trading you get paid for being RIGHT not the amount of times you trade.

If you want to be professional Forex trader you can, if you learn Forex trading the right way and get the right Forex education.

Most traders are too lazy, or think it’s easy to win and while it’s not difficult, you do need to take responsibility and work smart in the right areas.



BEEDY

Robert asked:


forex trading and how to trade online is not too difficult. There is a lot of information out there but this is also part of the problem - where do you start? Let’s take a look at a few of the basics.

Logic Over Emotions

Trading, investing, gambling. They are all really one and the same thing. You make decisions and you either make or lose money as a result.

As you start your new career in forex you must make a personal oath to yourself to place your trades according to your logic. You must always have a reason to place a trade.

Never, ever, trade based on emotions or gut feeling. Whilst you may still often be correct, trading this way is notoriously inaccurate and many traders have lost a lot of money by letting their emotions get the better of them.

Discipline

You must exercise great discipline in your trading. The human mind is prone to errors, laziness and lapses of concentration. Getting the right discipline is critical if you want to learn forex trading.

Follow your plan above of always having a reason to trade and do not waver from this plan for even a single moment.

Risk Management

Knowing how to trade online profitably requires good money management. Never risk your entire balance on a single trade.

Sometimes the market goes against you, no matter how well prepared you are, and you will lose money on some trades. The important thing is to make sure that you didn’t risk everything on a single trade by limiting the size of the order.

Another way to do this is to use stops for every order that you place. A stop is a way of telling your broker: “close out my trade if the market moves against me by e.g. 15%”.

A stop is just another word for a safety net so that if you get it wrong then you can “live to fight another day”.

BENTON

fxo4group asked:

http://www.managedforexprogram.com - Do you want to learn to Trade Forex Currency like a pro, our website contains over 100 of the worlds Top Money Managers offering Managed Forex Accounts for FREE!

MCLAURIN

hideaki413 asked:


I am beginning to learn about Forex Trading. I heard people talk about if there is a good signal you can make money from it. Or create their own signal stuff like that

What exactly is a signal they are talking about?

Thanks!

WASTON

PlasticTrees asked:


I read about it a year ago, I thought it was too risky. I met a guy last night that bought a 3k program that tells him what to do.. and he profits 97% of the time. (do you think he was just talking big??)

Anyway, any advice would be good too. I don’t want to get into something just to figure out that it’s pointless.

HEWELL