Friday, October 27, 2006
Forex Trading
The basic of forex trading is to buy a certain currencies and then when the price goes up we sell it so we can get a profit, its easy right
The problem is, how do we know that the price is going up or down? That’s why we should do some analysis and to create strategy before doing buying or selling
There are two type of analysis that usually used by forex trader in order to decide whether they are going to make a buy or sell, they are called fundamental analysis and technical analysis
Fundamental analysis
This kind of analysis basically depends on news on which we make a prediction whether there will be movements on the market.
Technical analysis
This is the most instruments used by trader, because unlike the fundamental analysis they tend to make the change in the market in a long term, the technical analysis usually faster and there are some evident that the market are moving in a trend line, and if you can find out the trend you should follow, but the best thing is to know about breaking point or the end of the trend line, I’ve heard about someone who don’t know anything but the breaking point but he can successfully profit from the market.
Strategy
This is one of the difficult thing to make because every trader has their own strategy and if you wanted to have one, you have to find it on your own and it has to fit you. You have to make records about the strategy that you have done and its effect to your trading, so if you fail with one of the strategy, you have to make another one
Maybe you’ll find a situation that will break your heart apart.
My experience is that I’ve done a lot of strategy for 2 month and it’s working like an angel, my profit was 100% but suddenly I keep on loosing until I lost all the profit, without knowing what is going on, while I’ve done all the analysis and strategy that I know, but they’re all fail, after a few days I realize that there’s some movement change in the market but I didn’t realize it, but it was not just me but also some forex analysts they’re making the same mistake as I am. Well I thought that I already skillful in this business, the fact is that I lose my money and I have to start learning and thinking from the beginning and also to be careful about what I’m going to do next in order not to lose another dime.
Tips
I was meet a man who I call him teacher or guru.. he was a moslem and I believe he has a lot of spiritual experience and knowledge, at least that was my opinion because he can answer a lot of my question.. well one of my question is about the forex trading and this is the answer:
Which is faster a snake or a snake with thousand foots..? you have to find the answer on your own..(I won’t tell you) and I realize that the question has multiple answer
Which is the most important..? process or the result..?
I answer.. process
So does with the forex, the most important is the process, and you should learn with small amount of money for few month, if you’re already keen on it, you can do whatever you want
Read more...
The basic of forex trading is to buy a certain currencies and then when the price goes up we sell it so we can get a profit, its easy right
The problem is, how do we know that the price is going up or down? That’s why we should do some analysis and to create strategy before doing buying or selling
There are two type of analysis that usually used by forex trader in order to decide whether they are going to make a buy or sell, they are called fundamental analysis and technical analysis
Fundamental analysis
This kind of analysis basically depends on news on which we make a prediction whether there will be movements on the market.
Technical analysis
This is the most instruments used by trader, because unlike the fundamental analysis they tend to make the change in the market in a long term, the technical analysis usually faster and there are some evident that the market are moving in a trend line, and if you can find out the trend you should follow, but the best thing is to know about breaking point or the end of the trend line, I’ve heard about someone who don’t know anything but the breaking point but he can successfully profit from the market.
Strategy
This is one of the difficult thing to make because every trader has their own strategy and if you wanted to have one, you have to find it on your own and it has to fit you. You have to make records about the strategy that you have done and its effect to your trading, so if you fail with one of the strategy, you have to make another one
Maybe you’ll find a situation that will break your heart apart.
My experience is that I’ve done a lot of strategy for 2 month and it’s working like an angel, my profit was 100% but suddenly I keep on loosing until I lost all the profit, without knowing what is going on, while I’ve done all the analysis and strategy that I know, but they’re all fail, after a few days I realize that there’s some movement change in the market but I didn’t realize it, but it was not just me but also some forex analysts they’re making the same mistake as I am. Well I thought that I already skillful in this business, the fact is that I lose my money and I have to start learning and thinking from the beginning and also to be careful about what I’m going to do next in order not to lose another dime.
Tips
I was meet a man who I call him teacher or guru.. he was a moslem and I believe he has a lot of spiritual experience and knowledge, at least that was my opinion because he can answer a lot of my question.. well one of my question is about the forex trading and this is the answer:
Which is faster a snake or a snake with thousand foots..? you have to find the answer on your own..(I won’t tell you) and I realize that the question has multiple answer
Which is the most important..? process or the result..?
I answer.. process
So does with the forex, the most important is the process, and you should learn with small amount of money for few month, if you’re already keen on it, you can do whatever you want
Read more...
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