Currency Trading
Friday, 25 July 2008
These are my currency strategy ideas that I developed from people constantly asking me the same questions over and over again. These should help you develop the proper behavior to make profitable trades over the long term.
How do I look currency?
You must look at the currency pairs, not just a single entity. You must take into account the fact that money is fiat. This means that it is just paper. An apple is worth what it is because it has value. Paper money is fair value which is paper. Another value comes from economic stability, people belief in government, etc. Given that all these points are not really of value, and is essentially the same thing (paper), the currency must be compared against each others. When you compare, you'll get good value.
How can I find bargains in Forex Trading?
There are no bargains in this game What you need to begin to consider is the amount you can sell a currency in the future. This is the most important point. You do not have money to buy foreign currency, you are doing everything to sell. You must get out of this "consumer" trap where you think cheaper is better. Selling price is the best. The purchase of a currency expensive than you can sell for 10% more in the future, is better than buying a cheap currency that you may be able to sell for 5%.
How can I get over the stress of negotiation?
Being a trader confidence is probably one of the most important characteristics to have. I understand that more and trust requires positive experience to be done. The best thing you can do is take advantage of your demo account, which allows you to live real simulated trades. You can do until you're confident enough to use your real money.
Labels: forex
posted by Master @ 03:32,