Do you know this?
The growth of the average daily turnover of the Forex market has been phenomenal, reaching $1.9 trillion in 2004, a growth of 80% over the last decade from $1.1 trillion in 1995. The 2004 figures also showed a significant surge in daily turnover activity over the 2001 figures. This was partly due to the birth of the single Euro currency.
Forex Tips
Trading Forex is certainly not easy, otherwise everybody will be millionaires. In fact, 90% of Forex traders are actually making losses.
Forex market is too complex and there are too many factors that are giving huge impact to the daily fluctuation. The pure technical analysis or the fundamental analysis can never forecast the Forex market trend accurately.
Invest more time to really understand how Forex market work, especially study the trend behaviour characteristic in specific time frame before committing with your hard earn money.
Articles
Advantages and Disadvantages of Placing Stops (Martin Pring)
Setting protective stops is an essential ingredient in any leveraged trading activity. This process can either be done physically, by actually placing them in advance with your broker, or you can decide mentally where a stop should be executed. If a stop is placed physically, it may involve setting an alert with your software and watching the price action very closely.
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Be Careful, Someone Wants Your Money (Commodity Futures Trading Commission)
The United States Commodity Futures Trading Commission (“CFTC”) warns consumers to take special care to protect themselves from the many types of commodities fraud being perpetrated in today’s financial markets. The CFTC is the federal agency that regulates commodity futures and options markets in the United States.
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Knowing Yourself Part 1 (Martin Pring)
Most investors and almost all traders and speculators enter the markets believing that they can accumulate profits very quickly. This expectation is fostered by prominent stories in the media featuring successful money managers and mutual funds, or highlighting riches awaiting us if we had only invested in a particular asset. Instant global communication and the rapid dissemination of news create the feeling that unless we act instantly, we risk missing out on a major price move.
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Staying the Course (Martin Pring)
One of the most difficult aspects of investing and trading is staying with your original investment philosophy. Quite often, you will find yourself re-entering the market after a string of losses with the thought, "This time I will stick to my plan. I will not get sidetracked." It really doesn’t matter whether you are a trader or an investor; you face the same problem. Only the time horizons or events may differ.
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The Extreme Swing (Martin Pring)
The extreme swing is a variation of the mega overbought/oversold reading. It name is derived from the fact that some primary trend reversals are signaled by a swing from such unbelievable emotional exuberance as the bull market reaches its peak, to one of complete despondency and depression, as the market eventually reacts in the opposite direction to what was originally expected. The same holds true as it swings from a primary bear to a primary bull market.
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Understanding Support and Resistance (Martin Pring)
Two terms you hear a lot about are support and resistance. Basically, they are points on a chart where the probabilities favor at least a temporary halt in the prevailing trend.
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The advantage scientists bring into the game is less their mathematical or computational skills than their ability to think scientifically. They are less likely to accept an apparent winning strategy that might be a mere statistical fluke.