The foreign
exchange (currency or FOREX or FX)
market exists wherever one
currency is traded for another. It is by far the largest market in
the world, in terms of cash value traded, and includes trading between
large banks, central banks, currency speculators, multinational
corporations, governments, and other financial markets and
institutions.
Retail
currency traders
(small speculators) are a small part of this market. They may only
participate indirectly through brokers or banks and may be targets of
forex scams. |
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How To Trade
Currencies Online
Trade with money you can
afford to lose: Trading FOREX Markets is speculative and can result
in loss, it is also exciting, exhilarating and can be addictive.
Currency Options |
Stock Market Reversal Trading
Identify the
state of the FOREX market: What is the market doing? Is it trending
upwards, downwards, is it in a trading range. Is the trend strong or weak,
did it begin long ago or does it look like a new trend that's forming.
Getting a clear picture of the market situation is laying the groundwork
for a successful trade.
Determine what time frame you're trading on: Many traders get in
the market without thinking when they would like to get out, after all the
goal is to make money. This is true but when trading, one must extrapolate
in his mind's eye the movement that one expects to happen. Within this
extrapolation, resides a price evolution during a certain period of time.
Attached to this is the idea of exit price. The importance of this is to
mentally put your trade in perspective and although it is clearly
impossible to know exactly when you will exit the market, it is important
to define from the outset if you'll be 'scalping' (trying to get a few
points off the market) trading intra-day, or going longer term. This will
also determine what chart period you're looking at.
www.forextradeanalyzer.com |
The Forex Trade Analyst is written by a
Visual FoxPro Programmer.
FOREX NEWS
NEW YORK, July 24 (Reuters) - The dollar dropped against the yen on Thursday, dragged down by disappointing news in the U.S. housing sector and steep losses on Wall Street. But it rose to a two-week high against the euro, as the single currency came ...
Publ.Date : Thu, 24 Jul 2008 20:01:00 GMT
MUMBAI: Idea Cellular has reported a fall of 14.7% in net profit to Rs 263.1 crore in the first quarter of the this financial year due to forex losses and higher interest charges, even as its revenues grew over 47%, boosted by a robust subscriber ...
Publ.Date : Fri, 25 Jul 2008 01:16:00 GMT
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If you trade many
times a day, there's no point basing your technical analysis on a daily
graph, you'll probably want to analyze 30 minute or hour graphs.
Additionally it is important to know the different time periods when
various financial centers enter and exit the market as this creates more
or less volatility and liquidity and can influence currency market movements.
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