Learn Forex Blog

lanturner asked:

http://www.fxtradingschool.com, Online training program designed to introduce investors to the foreign exchange (forex) market. Learn forex.

LAUDER

WonderingWanderer asked:


I’m interested in learning about currency trading for the CNBC million dollar contest. I’ve done pretty well with stocks (by pure luck), but am clueless about Forex trading. Any help will be appreciated. NOTE: I don’t even understand the language it uses.

DISHNER

Andri Irawan asked:


One can learn forex trading as easily as one would like to learn other subjects or train in other professions. The criteria for learning forex trading is an analytical / logical bent of mind and some number crunching abilities. Reading specialized books on the subject matter, enrolling for college and other programs, which specifically teach one to do forex dealing, one can understand Forex trading. Still other ways are through the Internet and training under a forex dealer / professional. Essentially the forex market comprises of currencies, which are bought and sold according to certain parameters.

There are major currencies in the market, which are trade and are the most liquid. These are US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. Then there are other currencies, which are not so liquid. However currency trade is done in almost all currencies across the world. The forex market is truly a twenty-four market with only a minor break during the weekend. It opens in Sydney, then in Tokyo and then in London and New York in that order according to the way that the Earth rotates and the sun rises. Therefore forex brokers and investors can choose their time of operation.

Essentially it’s a matter of selling and buying the currencies. The goal is very simple, that of making a profit in the currency transactions that you participate in. The currency market operates like most other markets and therefore for many traders ‘migrating ‘ form other trades such as stock market can be quite simple.

Essentially one can learn forex transactions by creating a virtual account. The first lesson is that currency trade is done in pairs only like Euros / US$, Japanese Yen/ Canadian Dollars etc. When you have set up a virtual account with the amount of initial investment, keep the following pointers in mind

· According to your investment strategy and time frame, choose the currency pair best suited to your needs. Some currency pairs can be very aggressive and the changes can be quite volatile. While others may not show any movement. Therefore choose the currency pair with care.

· Decide the time frame. Do you want to spend a few minutes on the forex trade or you want to go the whole hog and devote the entire week to the forex trade (swing trade)

· Have an exit plan ready before you start the currency transactions. Know when to place your ’stops’ and do so accordingly.

· No risk no gain. Be willing to take risk. You can take calculated risks in order to earn good profits. Know whether you want to be an aggressive trader or are you happy being a safe trader.

· Read and analyze the news and the technical data that is generated on the currencies that you deal in to understand the market conditions better.

Of course you can grasp the modus operandi of the forex trade. But for doing the real thing, you need to be in the forex transaction market for real.

Article Source : http://blogatme.com/2008/08/27/learn-forex-trading-a-guide-for-beginners/



PERFECTO

Kaspars S asked:


I need more information about Foreign Excange market for studies in Latvian.

LAVIGNE

Sacha Tarkovsky asked:


If you have not heard of the turtles then you will find their story inspiring.

They had no experience of trading yet in just 14 days they were taught to trade and went onto become trading legends and make millions.

How did they do it?

If you want to learn forex trading and be successful then their story will point you in the right direction.

The Debate

In 1984, legendary trader Richard Dennis taught a simple technical trend following system to a group of students, to prove that, trading was a skill that could be specifically learned. Dennis was settling a debate with his friend William Eckhardt, who believed successful trading was a skill that was a gift, while Dennis believed it anyone could be taught it.

Who Were The Turtles?

They were all from diverse backgrounds and the only thing they had in common was that they had never traded before. They included a boy fresh out school, a security guard, some professional card players, a bookkeeper and even an actor.

Dennis believed that anyone who wanted to be a successful trader needed to focus on three specific areas:

1. A simple technical system they could understand and have confidence in.

2. A set of money management rules to preserve equity.

3. A discipline to apply their methods through periods of losses without deviating from their system.

In the turtle trading experiment Dennis gave the turtles a simple system and taught them the RIGHT MINDSET to be successful.

A Simple system & money management rules

The system taught was simplicity itself and was designed to be easy to understand easy to apply, yet one the turtles could have complete confidence in. The system was based on breakout methodology, with just a few rules to confirm trading signals, backed up by strict money management rules to preserve equity.

If you want to learn forex trading, you need to understand that your system should be simple. One of the biggest myths of trading is that a complicated system is more likely to succeed than a simple one. In fact, most of the worlds top trading systems are simple and as a general rule, a robust simple system with just a few indicators will beat a more complicated one.

Why?

Because in the brutal world of trading, simple systems are more robust than complicated ones with less elements to break. In trading you don’t earn your reward from the effort you put in, you earn it for being right about market direction. With any system you need money management rules and Dennis gave them a simple set of rules that would preserve their equity. The knowledge Dennis gave his pupils gave them confidence which is crucial, in that it leads to discipline.

Discipline

If you are confident and understand a system you will follow it with discipline. Most traders don’t have discipline, because they don’t have ultimate confidence in their method, as soon as a string of losses occur they throw in the towel. If you don’t have the discipline to follow a method, you really have no method in the first place.

What can we learn from the turtles?

Quite simply, that anyone can learn to trade and trading success is within reach of anyone with a willingness to learn and apply what they have learned. You may not make as much money as the turtles, however if you focus on developing a robust method you understand, have confidence in and can apply with discipline, you can be a successful trader.

The turtles worked smart not hard to achieve trading success and their story is inspiring for anyone wishing to learn forex trading.



DEANDA

jiggawatt asked:


I don’t see any movement with any of the curriencies i have listed nzd, aud,us,cad,eur,jpy,chf,gbp, and it wont let me buy anything. WHat are the closing times for all of these? and if you are a trader and wish to help me to learn how to trade email me

PILARZ

DJITech asked:

Learn Forex Trading and trade like a pro! Forex Trading Course with up to date forex market analysis, charts and strategies.

HENNEMAN

geeta g asked:


Is there anything to learn before starting forex trading for success? Or it is totally depend on one’s fate?

DONLON

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….

OHARRA

Anthony F asked:


Using the Fibonacci Retracement. I am learning to trade the Forex. Would be very much appreciated.
I don’t have a strategy; that is what I am asking somebody to help me to do, since I don’t know yet how to do it..

SANDVIK