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The key to making money in the currency exchange market is to avoid
emotional decisions and to follow a carefully thought out strategy that
takes the current market and history into account. Going with your gut
is not the way to go in the Forex market. Going with your gut could
cost you money. |
People sometimes experiment with the idea to trade with other
people. It might work, but for me, it did not. I trade alone. The
advantages of trading alone are:
You are free to make your own decisions without having to
find a way to explain the rationale of your decisions to anybody else. |
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What are some things that separate a good trader from a great one? Guts, instincts, intelligence and, most importantly, timing. Just as
there are many types of traders, there is an equal number of different
time frames that assist traders in developing their ideas and executing
their strategies.
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It should be noted that millionaire traders, Elder, Williams and some
others are in fact professional psychiatrists. And it is not accidental
that not the economists are the leaders and most successful traders,
but professional psychiatrists and psychotherapists. Think about it.
You will become a successful trader when you understand why it happens
with Forex. |
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Technology advances like the internet have spawned a new craze, where
anyone with a secure internet connection prepared to undertake a small
amount of training can engage in trading foreign exchange on the forex
market. |
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By: Hillel Fuld
The
Forex market, as you probably know by now, is the biggest market in the
world. Yet, somehow, the average citizen, who is quite familiar with
the Stock Market, has never heard of the Forex market. When you tell
them Forex means the same as foreign exchange, you generally get a
response similar to “Ohhh” followed by a “And what is that”? |
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First, what is Forex: The FOREX or Foreign Exchange market is the
largest financial market in the world, with an volume of more than $3.2
trillion daily, dealing in currencies. Unlike other financial markets,
the Forex market has no physical location, no central exchange. It
operates through an electronic network of banks, corporations and
individuals trading one currency for another. |
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Back when I first started learning about investing, I decided to start
from the beginning and read basic books on personal finance as well as
"guides" for understanding all of the investment world in a nut shell.
Most of these authors were very knowledgeable and informative, but
their investment advice was far too conservative for my taste. |
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FOREX SEARCH
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