And you should start with the basics. Here's a quick list of the required knowledge and skills for your preparation to play on Forex:
1. Fundamental analysis. This is a collection of the most "heavy" asindicators of the economy of a single country, as well as branches of its national economy. The best-known public figures - GDP, inflation,unemployment, prices for both strategic and budget-raw material (oil, gas, etc.);
2. Technical analysis. This kind of analysis a bit harder first, but for the convenience of potential players invented the discipline"Technical research for the layman"or "naive technical analysis. "
3. Ability to good "to read charts. Most popular graphics - of course, the candlestick. However, the bars are still in vogue;
4. Develop their analytical abilities. If you can make predictions on the development of the market situation, and then monitor theircompliance / non-compliance, you are quite able to cope with this requirement;
5. Be able to choose the right moment to enter the market andclosing the open position (trading strategy). It is not enough to reveal the mainstream right, the right timing to enter the market is also very important for conducting successful (profitable) trade.
2. Technical analysis. This kind of analysis a bit harder first, but for the convenience of potential players invented the discipline"Technical research for the layman"or "naive technical analysis. "
3. Ability to good "to read charts. Most popular graphics - of course, the candlestick. However, the bars are still in vogue;
4. Develop their analytical abilities. If you can make predictions on the development of the market situation, and then monitor theircompliance / non-compliance, you are quite able to cope with this requirement;
5. Be able to choose the right moment to enter the market andclosing the open position (trading strategy). It is not enough to reveal the mainstream right, the right timing to enter the market is also very important for conducting successful (profitable) trade.
6. Financial discipline and management of statistics of transactions that fail the first days did not break the desire tocontinue trading. The main task of Statistics - work on bugs, rather than sifting head with ashes;
7. Ability to learn from others' mistakes. Many novice playersFOREX recited a huge amount of literature on strategies andtrading systems known traders. And rightly so, because mostintelligent learning from the mistakes of others;
8. Ability to self-control. Control yourself - be aware of their responsibility for the money that you've come to forex. Discard thefailed strategy of inveterate player - forex trading is not a placewhere they play "good luck".
7. Ability to learn from others' mistakes. Many novice playersFOREX recited a huge amount of literature on strategies andtrading systems known traders. And rightly so, because mostintelligent learning from the mistakes of others;
8. Ability to self-control. Control yourself - be aware of their responsibility for the money that you've come to forex. Discard thefailed strategy of inveterate player - forex trading is not a placewhere they play "good luck".
9. Do not make emotional decisions (psychology). When makingtrading decisions should be guided by reason and not emotions.Emotional decisions are often wrong and unprofitable.
Professionals advise novice forex traders to pay attention totrading on a demo a demo account. Better if the experience it will exceed several months. Try your hand at the beginner banalcurrency pairs, which are the euro-dollar and dollar-yen. It is best tosell a currency pair, with "advanced " knowledge of the economic state of the used currency. That is, trading in the euro-dollar, youshould at least know the state of the eurozone economy andsimultaneously monitor developments in the economy number one- in the U.S.. Remember, if you want to get more than you should,have to learn more than you can. Get ready to live in a constant state of knowledge on the theory of probability, Elliott Wave,corners Gause. You'll have to make friends with the "method and the subject of" higher mathematics and learn to instantly calculate the risks.
Correctly predict the future - the main objective of any trader.Which only methods do not utilize financial market participants toobtain accurate information about upcoming events. In the courseare not only quantitative forecasting methods, but also intuitive,psychic, astrology, etc. The position trader, released on the currency market, you can compare the situation of a man caught inthe ocean or in the woods. And how he knows how to navigate in space, the stars whether in the form of ant hills, the location of mosses and lichens on trees depends on the fact whether heclimbs out of the woods, and if you choose, what are these losses.
The forex market as the most volatile component of the global stock market, has the important qualities of global trade field: this is a great place for commercial gain, with good knowledge of the market and at the same time the best way to step on a rake andawait the financial ignoramus.
The forex market as the most volatile component of the global stock market, has the important qualities of global trade field: this is a great place for commercial gain, with good knowledge of the market and at the same time the best way to step on a rake andawait the financial ignoramus.
