What Is Forex Trading
Use the Forex Market Time Converter , below, to view the major market open and close times in your own local time zone. Tip 16 – When using forex economic news calendar to trigger a trade entry make sure you have a trading plan in front of you and only trade news in the direction of the trend like your plan says to. If The Forex Heatmap® indicates a trade against the trend just remember that this may likely be a short term trade.
Forex trading is not different from what we see in the bereau de change where they buy dollars to sell pounds or sell eur to bur pound or dollars but in the case of automated forex trading, we see these trades take place in mutes or hours and even days and months depending on the way you want to trade.
But before moving on, let me show you one of my many live trading videos so you can have an idea of the type of trading I do. You will immediately notice how real trading is not mechanical at all… instead, it’s actually centered around price action reading and truly understanding what’s going on in the chart as the trade unfolds in real time!
In the first case traders can open long and short positions on the same underlying asset trading in different forms (e.g. in spot and futures markets) and on different exchanges, while in the second case they open long and short positions on different assets which are related to each other, like gold and silver.
Analysis of historical forex market action in light of current market conditions (known as technical analysis), possibly combined with consideration of global events and markets (fundamental analysis) can help the forex speculator gain insight into currency markets that might allow the trader to project future price movements.
Next to having unreasonable expectations with regards to the risks associated with forex trading and the amount of time required to be successful, a common mistake made by new traders is the lack of a forex trading plan In reality, there are two aspects to this plan; an overall objective for your trading activities and a plan for each trade you make.
I am a hedge fund trader – being here for 6 years – and I have a few Masters, CFAs, the whole lot needed to be successful in the empty world of finance – making the 7 digit figures – all of that, and in my free time I am trying to find ways to critisize the stupidity of people that believe there is a system, that trading can be taught.
Hello all,Â I hope that 2016 is treating you well so far.Â My wife and I were blessed with the birth of our daughter last May and she has been keeping us very busy :).Â So busy in fact I have not had a chance to write anything on my blog in quite a long time.Â It is a bit of a lazy Sunday afternoon in our home today so I have seized the moment.