Assist me in improving knowledge in forex?

Answer 1

It is trading in foreign currency. Here is what people like:
- market open 24 hours a day (unlike stocks which is from 9:30am-4pm eastern in U.S.)
- no fees (although see warning below)
- no need to follow all the data in stocks (10K reports/earnings/income/dividends, etc)

Here is what people hate:
- movement is more random than stocks. Cramer tells a story of the only time he tried forex, he lost big on a random movement in Dutch currency
- Although there are no "fees" - there is a spread involved - so you could lose a small percentage in the slippage when you trade - the bank keeps those penny fractions each time, which adds up to losses
-People feel currency trading is controlled/manipulated by big banks (they trade on their own for their own profit). The ten big banks account for 73% of all the trading volume in forex.

Good luck to you! Click me if I helped! :)

Answer 2

Here is a site with compilation of Forex books and resources. There are 3 parts to Forex. 1 is the technique/technical analysis. 2. Money & Trade Management and 3. Trading Psychology. Of which I think 3 is the most important followed by 2 then 1. Take a look at Dr Alexander Elders books it will help you greatly.

1. http://www.geocities.com/lcming/ForexForex
2. http://www.geocities.com/lcming/Forexbooks *

Answer 3

Hi Writetoks,

You could spend years researching, studying, and attending seminars to learn about the Forex and unfortunately most people end up loosing all their money within the first 60 days of investing in the market. With that being said after trying just about every Forex program, signal service, indicator, etc, and spending countless hours trying to study charts and read graphs, FreedomRocks has been the only profitable system that I’ve used. It's a very safe hedging system, does 95% of the work, and takes about 15-30 minutes per week to manage. If you have any questions I would be more than happy to share my experience with you.

Best Regards,
Brandon Wells
877-773-5345
http://www.yourforexinvestor.com

Answer 4

Do you have any knowledge of Forex?

Forex is futures trading in foreign exchange.
With a small amount (relatively) of money, you control a big amount of foreign money. you are betting that the price of that currency related to another one will change the way you thought it would. If this happens you make money, if it doesn't, you lose big.

Experienced Forex Professional traders report have winning trades, slightly above 50% of the time.

You have to have lots of money, you have to have lots of experience in markets and economics and world events.

you have to have access to real time quotes.

and unless you meet investment criteria of knowing what you are doing, reputable brokers won't deal with you..

My Advice...Stay away from Forex

Answer 5

The key to succeeding in Fores is mastering the Japanese candlestick chart and riding through the lows. Don't give up if you lose points. Wait until it comes around before you cash out. EXAMPLE. I sold (on margin) 2 lots on the EUR/USD pair and the rate at the time was 1.3124 (which equals 13,124 euros, again on margin) The rate went up to 1.3214, which means I was starring at a potential loss of $200 in one day. I didn't give up, I left my ticket open and after a week of cussing out the computer and complaining, the rate finally went down to where I can make a profit. So ride through the lows. Dollar cost averaging. If you don't know what it means, do the research.