TRADING IN FOREX, A MIND GAME

Almost all players except a small number of successes by those who actually made millions and billions on the market, usually spend their time trying to learn the easiest part to perfection, like how to read and diagrams, and try to complete entry and exit skills, etc., but in trading information on mental game, and without the right mindset, he has already lost the battle before it begins. spirit trader's education is the first step in an active trader, but almost all new traders forget that part and this explains why more than 95% traders in the failure of the long term. For information on the market is not difficult for anyone with average intelligence a few difficult years of research on the market. But this is not intelligence or information that decides the result of the activity of the professional market. It is the process of decision making that is so hard to gain the most players and is the main reason for the success or failure for all traders. Some are easy to make decisions and stick to it and most of them so difficult to make decisions and stick to it. Unfortunately, all decision-making process of pain-commerce and people try to avoid the pains and pleasures go, albeit temporary. Through surveys and studies, the merchant must make decisions, so that this knowledge and the system in practice. Inputs and outputs can never be "irrelevant" to a broker for any purpose. It's just the psychological aspects of trading are much larger than the inputs and outputs, and crucial to the success or failure of an operator in the long term. Perhaps the outputs are more important than the notes, because no complete or nearly complete registration is only possible after the event.

Global Forex Turnover Rose to $2.7 Trillion a Day

Turnover Gross foreign exchange market increased by 17% and 2.7 trillion U.S. dollars a day, the growth of handguns in April 2008, the Australian central bank announced.

RBA "report is based on data from the United States, United Kingdom, Australia and Singapore, the market in these countries represent about 60% of global currency trading. growth in turnover Forex followed by a resumption of the global economy after the crisis that the benefits begin to replace losses. The situation has improved significantly in early 2009, when the crisis bottomed RBA "officials reported.Google

Introduction To Forex Trading

The 1971 abandonment of the Bretton Woods Accord and the subsequent unwinding of the regime of universal fixed exchange rates gave rise to the foreign exchange market as we know it today.

Forex refers to the foreign exchange market, where brokerage firms and banks are connected over an electronic network that allows them to convert the currencies of countries around the globe. The forex market is the largest and most liquid financial market in the world. The daily dollar volume of currencies traded in the currency market exceeds $1.4 trillion, many times larger than the combined volume of all U.S. equity markets.

While the foreign exchange market is often seen to be dominated by government central banks and commercial and investment banks, trading on the currency exchanges has become increasingly accessible to private investors through technological innovations such as the internet. The most commonly traded currencies are the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. The FX market runs 24-hour hours a day, 5 days a week with continuous access to global dealers. Trading is not centralized on an exchange, as with the stock and futures markets. Transactions are conducted between two counterparts over the telephone or via an electronic network.

Essential Elements of a Successful Trader

Courage Under Stressful Conditions When the Outcome is UncertainAll the foreign exchange trading knowledge in the world is not going to help, unless you have the nerve to buy and sell currencies and put your money at risk. As with the lottery “You gotta be in it to win it”. Trust me when I say that the simple task of hitting the buy or sell key is extremely difficult to do when your own real money is put at risk.You will feel anxiety, even fear. Here lies the moment of truth. Do you have the courage to be afraid and act anyway? When a fireman runs into a burning building I assume he is afraid but he does it anyway and achieves the desired result. Unless you can overcome or accept your fear and do it anyway, you will not be a successful trader.However, once you learn to control your fear, it gets easier and easier and in time there is no fear. The opposite reaction can become an issue – you’re overconfident and not focused enough on the risk you’re taking.Start by analyzing yourself. Are you the type of person that can control their emotions and flawlessly execute trades, oftentimes under extremely stressful conditions?

Forex Technical Analysis

The difference between forex technical and forex fundamental analysis is that forex technical analysis ignores fundamental factors and is applied only to the price action of the market. Forex technical analysis primarily consists of a variety of forex technical studies, each of which can be interpreted to predict market direction or to generate buy and sell signals. The technical analysis works by correlating the results and moves of current markets to create a short-term outlook for currencies. The rolling data that is produced throughout the trading day creates the interest in the markets and informs traders of the strong markets to back.The Trend is Your FriendForex technical analysis is largely based around forex market movement trends, thus creating the widely used phrase ’the trend is your friend’ amongst traders. Buying and selling at the right time is the key in maintaining good levels of profits, following a trend is also about knowing where to entry a trade and more importantly where to exit.