Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
The Main Components Of A Forex Trading Strategy
1. Forex trading used to be limited to fairly wealthy, long term
trades had to be carried out manually by a broker, which m
have been your bank. The client had to telephone his broker
on any knowledge the company had about latest developme
markets and the client and the broker would come to a decis
a new position, or sell or hold an existing position on the
intelligence.
2. It followed then that the best brokers were those with the m
up-to-date information. Furthermore, trading was not cheap,
trade only several times a year for long term growth in order
(fees) to a minimum.
3. This set-up has been drastically changed by the Internet. Thes
trading platforms have been computerized, so, although cha
are a lot lower than they used to be because there is less hu
and there is more competition. The knowledge of the mark
defended zealously from other brokers is now common kno
who want to find out, because all key stories are sent around
press agencies.
4. The two main strategies in investing of any kind including for
fundamental analysis (keeping up with the news) and tech
combination these two research strategies can be called 'du
diligence is the investor's main protection against big losse
studied from the outset.
5. Technical analysis involves interpreting charts. There are lite
different charts which try to forecast a currency's future m
down) by analysing historical data or what it has done in
investors swear by charts, others say that past performance
influence on the future events that might influence a curre
6. For example, the GBP (British Pound) may have been doing ve
and the trend is up for the long term, but then terrorists ex
bombs in London and the GBP plummets, That could not hav
charts.
7. Having said that charting is interesting and almost certainly
least in predicting highs and lows. For instance, say the
traditionally been around 40 B to the USD, say for 15 years
very popular vacation destination. If the Thai Baht (THB) str
USD, people will stop going there which will harm the THB a
back towards 40:1 again. Charts can suggest acceptable high
on historical data.
8. A common method of predicting these highs and lows is the
retracements. Do not be concerned about all these charts, t
built into any charting software you use, whether you buy i
trading company's free software.
9. Fundamental analysis is the other element of successful a
diligence. Every week, figures are disseminated to make pub
detail of a particular country such as non-farm payrolls or
figures that can perhaps have an erratic effect on the Forex m
it is clever to stay out of the markets when significant announ
made.