Mastering Forex Trading

Currently a university student in Australia, majoring in Economics and Finance. This semester, I am doing a finance course where I am expected to go to a dealing room and start trading - dealing simulation. So, there will be two groups where companies will be quoting from banks (companies and banks).

I’m out of ideas as to how I should trade and be the best in the dealing room, in terms of strategy. Any ideas? Five stars for best answer. Thanks!

Download NinjaTrader for free and use their built-in simulator and start trading now real-time, with professional indicators and charts. At the very least, you’ll get a feel for actual trading and terms and definitions and what it all means. Your finance class should give you ideas on how to make money. Otherwise, email me, and I’ll send you some ebooks on Forex trading. You’ll have to send me your email address for me to send an attachment.

http://www.ampfutures.com/index.php

They won’t require you to fund the account for several months, maybe six months. The data feeds for forex and futures are also free.

You can also download ThinkOrSwim for free also, but won’t have access to the data for export/import into Excel or other program, where Ninjatrader you do. Ninjatrader is great for the small trader, and you can start with as little as $500.

http://www.babypips.com/school/market_hours.html
http://news.tradingcharts.com/forex/headlines/Forex.html
http://forex-trading.bluecollarnews.com…
http://www.forex-learning.com/forex-trading-technical-analysis/forex-trading-technical-analysis
useful e books:
http://www.rapidforex.com/
http://www.traderssecretcode.com…
http://www.1forextrading.com/
http://forexmarketsuccess.com/forex-ebook/

Forex simulator:
http://fxtrader.investopedia.com/Registration/Register4.aspx

powered by Yahoo Answers

Hello I have become interested in the Foreign Exchange Market and I would like to learn about it in more detail.

What ways of learning would you suggest? I personally think I would prefer books but I’m not too sure which ones exactly to pick.

What do you think about this one?
http://www.amazon.co.uk/Forex-Trading-Course-Self-study-Successful/dp/0470137649/ref=sr_1_3?s=books&ie=UTF8&qid=1275855273&sr=1-3

Any additional information is appreciated. Thanks a lot
Also I wanted to ask whether it is worth learning about FOREX and whether it is possible to eventually gather enough knowledge and experience as a single person to make profit or not? As essentially you’d be competing against professionals… thanks

Agree with the second reviewer. Forex trading is basically a zero sum game and slightly negative in consideration of brokerage fee. Retail investors are likely speculators for short term gain. It is similar to the scenario of casino. Professional traders are also speculators but they are equipped with better inforamtion and tools for the market. Corporate traders use Forex for hedging purpose on their business to minimize risk in currency fluctuation. These three category of traders entered into a zero sum game.

From the tone of the question, it seems to learn the skills of a professional trader to compete in the market. If you treat it as a game with a small amount of dispensable income, it may be fun just like playing in a casino. Indeed it may be more interesting than casino gambling since there is stragtegy and competition in the game and less depending on pure luck. But it is not a good idea to think of forex trading as a stable source of profit although professional traders may be able to achieve such objective.

From the point of view of investment, stock investment (not trading) is a better game since in the long run (I mean decades if not years) stock market has an up trend. Temporary loss (may be years) would not hurt long term profit. For speculative trading, stock is more favorable to retail investors than forex since retail investor can hold on to wait for up trend. But again, speculative stock or forex trading should not be considered as a reliable source of profit.

Lastly, I think personal trait is also an important factor in the success of speculative trading besides learning the skills and pure luck.

powered by Yahoo Answers

Hello I have become interested in the Foreign Exchange Market and I would like to learn about it in more detail.

What ways of learning would you suggest? I personally think I would prefer books but I’m not too sure which ones exactly to pick.

What do you think about this one?
http://www.amazon.co.uk/Forex-Trading-Course-Self-study-Successful/dp/0470137649/ref=sr_1_3?s=books&ie=UTF8&qid=1275855273&sr=1-3

Any additional information is appreciated. Thanks a lot
Also I wanted to ask whether it is worth learning about FOREX and whether it is possible to eventually gather enough knowledge and experience as a single person to make profit or not? As essentially you’d be competing against professionals… thanks

Agree with the second reviewer. Forex trading is basically a zero sum game and slightly negative in consideration of brokerage fee. Retail investors are likely speculators for short term gain. It is similar to the scenario of casino. Professional traders are also speculators but they are equipped with better inforamtion and tools for the market. Corporate traders use Forex for hedging purpose on their business to minimize risk in currency fluctuation. These three category of traders entered into a zero sum game.

From the tone of the question, it seems to learn the skills of a professional trader to compete in the market. If you treat it as a game with a small amount of dispensable income, it may be fun just like playing in a casino. Indeed it may be more interesting than casino gambling since there is stragtegy and competition in the game and less depending on pure luck. But it is not a good idea to think of forex trading as a stable source of profit although professional traders may be able to achieve such objective.

From the point of view of investment, stock investment (not trading) is a better game since in the long run (I mean decades if not years) stock market has an up trend. Temporary loss (may be years) would not hurt long term profit. For speculative trading, stock is more favorable to retail investors than forex since retail investor can hold on to wait for up trend. But again, speculative stock or forex trading should not be considered as a reliable source of profit.

Lastly, I think personal trait is also an important factor in the success of speculative trading besides learning the skills and pure luck.

powered by Yahoo Answers

Forex trading is not easy, only less than 10% of forex traders are able to make money from forex trading.

If you are interested to trade forex, I suggest you to sign up for a demo account. Trade until you able to consistently making profit before trading with your hard earned money.

Besides that, I suggest you go through these articles for Forex newbie.
http://www.forex2u.com/guide/category/forex-newbie/

Good luck.

powered by Yahoo Answers

Forex trading is not easy, only less than 10% of forex traders are able to make money from forex trading.

If you are interested to trade forex, I suggest you to sign up for a demo account. Trade until you able to consistently making profit before trading with your hard earned money.

Besides that, I suggest you go through these articles for Forex newbie.
http://www.forex2u.com/guide/category/forex-newbie/

Good luck.

powered by Yahoo Answers

I have been searching for a actual online course or class to learn the basics of the forex market and also how to trade, read & understand the data along with where to get research. I have done a google search and all I come up with is sites that want to give me a quick run down and how easy they say it is. I know its not easy and is one of the worst markets as it has the least regulation. I have been even to many sites that are defiantly scams trying to sell you a ebook or a stupid robot. I know I can also go to the library and have a world of knowledge of forex but I want an actual instructor led learning of the basics, any ideas on where I can find this? I took a stock class from http://www.ed2go.com/ a few years back and it was great but they do not have forex. This is just something I want to learn not a get rich or a person dreaming I can make 10k overnight, more like learning golf, not going to become a pro but more as learning hobby.

it’s a scam

powered by Yahoo Answers

I have been searching for a actual online course or class to learn the basics of the forex market and also how to trade, read & understand the data along with where to get research. I have done a google search and all I come up with is sites that want to give me a quick run down and how easy they say it is. I know its not easy and is one of the worst markets as it has the least regulation. I have been even to many sites that are defiantly scams trying to sell you a ebook or a stupid robot. I know I can also go to the library and have a world of knowledge of forex but I want an actual instructor led learning of the basics, any ideas on where I can find this? I took a stock class from http://www.ed2go.com/ a few years back and it was great but they do not have forex. This is just something I want to learn not a get rich or a person dreaming I can make 10k overnight, more like learning golf, not going to become a pro but more as learning hobby.

it’s a scam

powered by Yahoo Answers

Hi there my name is Ash and I am a full time forex trader. I would like to know more about your experience with different Forex courses and which one would be highly recommended or even the best.

Your answers will be very helpful and please no affiliate links etc only genuine users of those different forex courses. I only want real people who have actually tried a course that they found greatly helpful and actually did help them make consistent profit in the Forex market..

Thank you again

Your help is much appreciated both for the future readers of this post and myself.

Ash
www.forex-trading-domain.com

I still get a lot of ideas from fxbootcamp videos, but they are an ongoing teachers, giving real-time instruction sessions during trading hours for a fee.

Here is their latest video
http://www.youtube.com/watch?v=As2P_y57RxU&feature=player_embedded

Here’s their website
http://fxbootcamp.com/

powered by Yahoo Answers

Hi there my name is Ash and I am a full time forex trader. I would like to know more about your experience with different Forex courses and which one would be highly recommended or even the best.

Your answers will be very helpful and please no affiliate links etc only genuine users of those different forex courses. I only want real people who have actually tried a course that they found greatly helpful and actually did help them make consistent profit in the Forex market..

Thank you again

Your help is much appreciated both for the future readers of this post and myself.

Ash
www.forex-trading-domain.com

I still get a lot of ideas from fxbootcamp videos, but they are an ongoing teachers, giving real-time instruction sessions during trading hours for a fee.

Here is their latest video
http://www.youtube.com/watch?v=As2P_y57RxU&feature=player_embedded

Here’s their website
http://fxbootcamp.com/

powered by Yahoo Answers

There are a few out there, but the best one I have found is by a guy named Nial Fuller. He is some great price action instructional videos on youtube and a bunch of videos on his website too. I have found has price action trading course to be invaluable and I only wish I had found it years ago. His website is; www.learntotradethemarket.com . Check it out.

powered by Yahoo Answers