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forex school

Win cash prizes and community reputation in our unique, intelligenty moderated forex trading contests where every participant gets a fair chance. Accept Terms CBF Sponsor We Will Beat Any Competitor Rates! FX Advantages Over Stocks and Futures Reflections of a Trader in the World of Stocks Reflections of a Trader in the World of Commodities Reflections of a Trader in the World of Options What do I need to get started?

Forex Basics Currency Pairs Pips and Profits Transactions Costs - Spreads and Commissions Overnight Interest, Rollover or Swap Rate Leverage, Lots and Margin Trade Order Types Chart Types Market Hours Best Hours, Days and Months to Trade Currency Pair Correlations Risk and Money Management Caution! The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets.

Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. This website is neither a solicitation nor an offer to Buy or Sell currencies, futures, or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website.

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Receive Forex Email Updates? Accept Terms We Will Beat Any Competitor Rates! I started out in the industry as a typical retail trader, introduced by a friend I became confident that like so many things before, this was something I would master.

I realized that it would take work. I opened a few small accounts at several brokers and made some money at some and lost money at others, but overall I lost a small amount of money. I came to realize that forex was an efficient market and a negative sums game that essentially required predicting the future more accurately than not.

Surely it could be overcome but I realized the gains I wanted to achieve based on my available risk capital were not realistic unless I was willing to continually employ tactics that exploited broker anomalies, latency etc. These methods would go against my own personal beliefs and faith, and I realized I must travel another route to achieve my goals. All the money I put into the larger accounts was risk capital, meaning while I was not exactly looking to lose it, it would not impact me psychologically in the slightest.

The small account I had previously opened I was looking for very large gains relative to my trading capital, and my first motivation was certainly not protecting my equity. The second time around, with my much larger account I was much more serious. My primary motive was protecting my equity against loss.

My trading was very infrequent, and it was only during certain times where I felt there was almost no way to lose that I would place a trade. Over school 2 years or so I traded my larger accounts I did well, making a lot more than I had lost the first time around. Many traders first enter the market believing this is their way to make it big, to fulfill their dreams.

If you have significant risk capital and uncanny trading skills then your performance in the forex market may well trump your performance in other markets like equities and futures.

Others like myself love anything that presents a challenge. Trading forex can be a very fun and rewarding activity when done responsibly, but then there is the times it is done irresponsibly. A few years ago when we had a live chat room, my partner and I had several phone discussions with a gentlemen that wanted to quit his job and trade forex full time. Here is the worst part - the man had a wife and kids. I told him absolutely not, this is the worst idea he could possibly think of and he needed lots more school, a long record of success, and either more risk capital or people willing to invest with him.

Needless to say, he did not listen and went ahead with his plan. He lost his home and has struggled ever since. To this day I do not know what became of him, but I have talked to many others just like this gentlemen, and everytime I do I feel terrible if they have a spouse and children. It is just downright irresponsible and unacceptable and I hope that anyone reading this will think twice before making such a radical decision. You have been warned Now, onto some of the things that personally are important to me as a trader.

The availability of high leverage is common in forex. There is market demand for high leverage and perhaps a few traders can successfully exploit the availability of high leverage, however we recommend that traders use no greater than leverage. The huge losses that can occur as a result of high leverage are very likely to negatively affect your trading psychology Besides the availability of high leverage and the massive loss of capital that can result from over-leveraging, forex is risky because the market has a very high probability of moving both ways, both up and down on any given currency pair.

While this can certainly be considered a good thing at times, like when you are on the right side of a trade, it makes speculating on the direction of currency pairs a complex affair relative to markets like equities where there tends to be upward momentum with occassional crashes The Odds are against You You pay your dealer or broker a cost for every transaction, whether that be in the form of a spread on the amount you can sell and buy at, a commission, or both.

Similar to how in a casino the house has only a very slight edge, so it is true in forex and this is referred to as a negative sums game. If you continually enter trades without a strategy that overcomes the odds being against you and turns the odds in your favor, your account will dwindle down to nothing. How much the odds are against you depends on your trading strategy and broker.

A trader using a pip stop loss and looking for a pip take profit will be must less affected by transaction cost than a trader with forex 10 pip stop loss and 10 pip take profit. If the spreads is 2 pips and your TP and SL are both 10 pips, it means you need to lose 8 pips to lose the trade or make 12 pips to win the trade. This is a HUGE house advantage. Besides trading style, the way your broker operates can make an impact as well.

Some brokers employ dirty tricks like freezing their servers and price feeds, throwing in bad ticks intentionally note that bad ticks will inevitably be thrown by any broker in rare cases but the honest broker will restore your trading account as if the bad tick never occurred to make you lose, passing on slippage that benefits the broker but keeping any slippage that benefits the trader again, slippage is inherent in financial markets but it should be about equal in favor of the trader and broker.

Ensure you are always aware of the available free margin on your account. Once you have no available free margin in your account, all of your positions will be closed out automatically. Trading with money that you cannot afford to lose or will negatively impact your life or mental state in any way is very likely to negatively affect your trading psychology.

One example of a very bad idea, in our opinion of course, is to trade using retirement funds that you are likely to need in the future. Another bad idea is quitting your job under the presumption that you can make adequate money trading forex when you have failed to do so on a live account for a lengthy period of time already. Trading with an account that is very small can make small percentage gains feel like they are not worth your time, causing you to employ higher leverage and risk to try for larger gains, and the larger losses that may result are also likely to negatively affect your trading psychology.

The caveat here is that you should not deposit a large sum of funds until you have gained the necessary trading experience and established a reasonable likelihood of success. When trading on a small account, it is imperative you do not fall victim to the desire to make money as a higher priority than protecting your account equity Remember that analysts are entertainers first and foremost Their primary job is to get traffic to a website or school station, or in some cases attempt to persuade the market to trade a certain way that benefits them.

Their primary concern is not necessarily making money and typically there is no proof a particular market analyst has a track record of making money trading the markets.

Reading good solid analytics from professionals can certainly be helpful, just be mindful of their first order of business. In the forex market, analytics are filled with lots of amateur analysts that you would do well to stay far away from Learn basic automated trading coding skills Even if you want to only be a manual trader, my opinion is that learning to program in a way that allows setting up trading strategies and performing historical backtests is a great tool.

You may or may not employ it in actual trading, but you can learn a lot from it by coding some of your ideas and seeing how they do when backtested. Coding in languages like MQL4 is relatively simply, it will be a bit uncomfortable at first but using the right resources to learn from and with a solid day or 2 of work you should have a firm grasp on it. You may visit our forex section about automated trading and coding in MQL Focus on strategy, not simple technologies Men especially, at least in my opinion, love the idea of adding tons of technology to their trading arsenal.

By this I mean lots of extra screens, maybe a tweaked out computer. Often competition can push us to our limits and help us to grow, but in trading the opposite is true.

People are far more likely to talk about their winners than their losers, and a few of those people may indeed actually have a lot more winners than losers and be making positive cash flow trading forex.

You must resist the temptation to compete, to place a trade simply because they just won one and now you need to win one. Of course, if this was always the case everyone would be a winner, forex make sure you have a good reason for trading against the prevailing trend Trade Strategy and Risk Management Sometimes the market is quite sure where it is going and trots on with confidence, while sometimes there is no clear direction and the market bounces around.

Personally I like to use very large stop losses places well outside where the rate is likely to go, thereby taking advantage of the ups and downs without being stopped out. I have to control my risk which means these stop losses which could be pips cause minimal damage to my account if they are hit.

Personally, I think this risk management has to be based on trading style. At the same time if fundamentals and market sentiment changes so much it becomes clear that I should take my position off the board, I am willing to do that. Typically, I like to place my stop losses behind strategic locations that are far off and should at least cause a bounce of they are met. Nothing in trading is concrete, this is just my way of dong my best to get an edge on the market.

Sure, there are players out there hedging for commercial reasons and central banks intervening for their own reasons, but by in large markets move on collective psychology. I see humans as something like herd animals, sheep if you will, and I see resolve as something ever-changing, unable to remain consistent. School, fundamental events can change the direction of the herd but I believe just as much in school ability of the herd mentality to make its own collective decision to turn as waves of collective emotion inevitably manifest, beyond precise comprehension at least for me but present nonetheless.

What I am saying is that sometimes economic realities cause psychological effects, but forex the same I believe psychological realities school economic effects or at least the perception of economic effects. This one people might call me crazy for, or have no idea what I am talking about, fortunately it is the only point I make like this Use Limited Leverage but Recall Unleveraged Rates When thinking of the possible market movements and the randomness of some movement I like to think about forex not in terms of leveraged forex where we talk about fractions of a pip out to the third or fifth decimal, but more like dollars and cents.

Infrequent, High Probability Trading Last but far from least, only trade when you have a very strong reason to believe your planned entry and exit has a high probability of overcoming the fact you are entering the market starting with a loss, with the odds against you. To me, it seems there are times that there are just so many variables pointing to a certain currency pair going a certain way.

It may be weeks between these times, even months, but invariably that time comes when there is a high likelihood of a currency pair traveling one way vs the other. If you can properly identify these moments and have the patience to wait for them, you just might have a good chance at becoming a profitable forex trader Forex the CashBackForex School or choose a school section from the menu on the left.

forex school

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2 thoughts on “Forex school”

  1. Anatol65 says:

    This checked for a time the scholastic preparations of our subject, but his aspirations for a higher development could not be daunted even by a judicial enactment.

  2. ankbk says:

    This is as it should be with blacks as they are incapable of living in human society unchecked.

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