How to learn Forex Trading

@yugasini (12892)
Secunderabad, India
October 8, 2012 10:24am CST
Hi mylot friends, Now I wish to explore my interest to Forex trading, till now I do not know about the basics of Forex trading. From Yesterday I have started knowing(not learning) one by about Forex, Forex is also vast subject once again I have learn from Preschooler to College student in Forex. There are more than 42 lessons to know everything about Forex, I have already started reading the lessons and after that what I have to do? After completing all these 42 lessons I know something about Forex, What ever the knowledge I am gaining through Forex I wish to share with my mylot friends.
2 responses
Olleenz
@Olleenz (3398)
• Indonesia
8 Oct 12
Best lesson / training about Forex is in market directly (at least for me). Basically there several currency trade most against USD * Euro - USD / USD - Euro (Europe) * GBP - USD / USD - GBP (British) * JPY - USD / USD - JPY (Japan) * AUD - USD / USD - AUD (Australia) * CHF - USD / USD - CHF (Swiss) Each currency had their own character. If you still new about Forex, it better to study one currency first to understand it behavior and character. Prepare your technical analysis (statistical analysis) like: Fibonacci, High-Low, Up-trend, down-trend etc. You gonna need it when you want to analyze any currency based on statistic Since every currency had their own character, you need to know and understand fundamental analysis based on country / currency that you study with. Combination of fundamental and technical analysis is best way to make profit in Forex. You can't thread them separately because mostly gonna end on lost. That basic thing you need to know before you study or make money on Forex Happy Mylotting, Olleenz
k sridharprasad
@yugasini (12892)
• Secunderabad, India
9 Oct 12
Hi Olleenz, Thanks for the response, first I wish learn all about Forex. So I am earning one by one in Forex, there are 42 lessons and sub sections in lessons also. So it may take one year or less to complete the course, Now I have some interest on this subject. I think you have lot of knowledge about this Forex trading, have a nice day.
1 person likes this
Olleenz
@Olleenz (3398)
• Indonesia
9 Oct 12
Well .... I work in brokerage house before. When I still newbie, my office teach something. But when I face market directly, it totally different from what I learn / studied before. It just like an idiot .... Since I don't want to loose, I stop trading for a while and study 2 currency ( JPY and Euro). Some people called me stupid because is not my money (my client money) why I have to care about it. Well .. I have different opinion. First, business is about trust and my client trust me to take care his money. If I loose it, who gonna trust me anymore. Secondly, for long term plan. Maybe at first I gonna loose some money (commission) from trading but in future it gonna make easier for me to make profit and if I don't have client anymore in the future, I can use my own money without worry. And guess what, my plan work perfectly ....
k sridharprasad
@yugasini (12892)
• Secunderabad, India
9 Oct 12
Hi Ollenz, Thanks for the response, you need not worry about the money. There is site which linked to Forex trading forum there you can earn money for postings after one month the earning will be added to to Forex trading site there you can trade stocks, trading can be started with 25 dollars. You need not invest money the earnings from that site will be transferred to trading site and you can be withdrawn the profits from trading only?
1 person likes this
kai9999
@kai9999 (1700)
• India
8 Oct 12
i don't find much difference with bse and forex... bse is volatile and forex is not as volatile as BSE... share marketing is more experts and by experts i don't mean one who is good at learning but one who is good at predicting the companies true value... read facebook ipo, it will give u every thing u like to know...
k sridharprasad
@yugasini (12892)
• Secunderabad, India
9 Oct 12
Hi Kai, Thanks for the response, BSC and NSE are somewhat different in trading currencies. Here the currencies are limited. But in stock and shares there are lot of companies listed in the stock exchange all those shares are trading, and this market is limited time run. Forex trading works 24 hours a day and 7 days a week and 365 days per year, have a nice day.
k sridharprasad
@yugasini (12892)
• Secunderabad, India
9 Oct 12
Hi Kiran Madam, As per my knowledge and from different sources the market works 24 hours, 7 days and 365 days in the year. For your information you can earn in a site which is linked to Forex forum, by posting/comments you can earn money in this site and the same can be invested in trading for earning. Any enthusiasts who wish to learn and earn money can join in this site,have a nice day.
kiran8
@kiran8 (15348)
• Mangalore, India
9 Oct 12
Hey sreedhar, you don't seem to know the basic of forex trading which is the time.Forex market is open from Monday mornings (3.30am indian time ) to Friday late night ( 2.30am Saturady morning )It is closed on Saturdays and Sundays...