One thing I don't really do on this blog is talk about the basics of forex trading. I automatically assume most of my readers have a general understanding of how the forex markets work. However if you are looking for an entry level forex trading course, there is one course that I can highly recommend.
It's called Forex Nitty Gritty and despite the dubious name, it's actually a very impressive course.
This course assumes you have no prior knowledge of forex trading and starts right at the beginning. Through a series of online videos you will learn all the basics of forex trading. You will also be taken through out some of the more advanced subjects such as how you can use price patterns, fibonacci techniques and various different technical indicators to trade the markets. In short you are basically given a complete education in forex trading.
Furthermore if that wasn't enough you are also provided with a simple, but very effective trading method that you can use to trade the markets. I use this method quite a lot myself on the intraday time frames and it works very well because it gets you into a trade whenever a currency pair is trending strongly upwards or downwards, so the odds are always stacked in your favour.
Anyway if you would like to find out more about this excellent forex course, you can do so either by visiting the Forex Nitty Gritty website or by clicking here and reading my full Forex Nitty Gritty review.
source:http://theforexarticles.com/forex-course/
Thursday, December 3, 2009
Trading Platforms
Our FOREXTrader platforms combine ease of use, unprecedented flexibility and a full suite of professional charting and order management tools, all on a single screen. Best of all, you can use the same User ID and Password to switch between platforms at will, putting you in total control of your trading experience.
View real-time prices in 37 currency pairs and spot gold
Execute market orders with just one mouse click
Track P&L and open positions in real time
Perform technical analysis with our advanced charting tool
Choose from 8 available order types
Access a full suite of proprietary daily and weekly research reports
View up to the minute news headlines and market commentary
source:http://www.forex.com/uk/forex_platform_advantages.html
View real-time prices in 37 currency pairs and spot gold
Execute market orders with just one mouse click
Track P&L and open positions in real time
Perform technical analysis with our advanced charting tool
Choose from 8 available order types
Access a full suite of proprietary daily and weekly research reports
View up to the minute news headlines and market commentary
source:http://www.forex.com/uk/forex_platform_advantages.html
Learn to trade currencies, spot metals and oil
Whatever your level of experience, you can take advantage of FOREX.com's expertise
to improve your trading skills. From advice on getting the most from our trading platforms,
through to trading strategy ideas, we have a wealth of information to help you become a
successful currency trader.
New to the Forex market?
If you're new to the Forex market our online Forex Guide will take you through the basics: Learn how currencies trade, the importance of leverage and margin, and how to calculate profit and loss. We also explain the basics of technical and fundamental analysis and how to use these indicators to inform your trading decisions
Online forex training courses
Our online training courses are designed to provide novice currency traders with a broad overview of the Forex market. Covering everything from the factors that drive currency movements through to reading and analysing charts, and effectively utilising leverage, the course will prepare you with the skills you need to trade forex.
source:http://www.forex.com/uk/learn.html
to improve your trading skills. From advice on getting the most from our trading platforms,
through to trading strategy ideas, we have a wealth of information to help you become a
successful currency trader.
New to the Forex market?
If you're new to the Forex market our online Forex Guide will take you through the basics: Learn how currencies trade, the importance of leverage and margin, and how to calculate profit and loss. We also explain the basics of technical and fundamental analysis and how to use these indicators to inform your trading decisions
Online forex training courses
Our online training courses are designed to provide novice currency traders with a broad overview of the Forex market. Covering everything from the factors that drive currency movements through to reading and analysing charts, and effectively utilising leverage, the course will prepare you with the skills you need to trade forex.
source:http://www.forex.com/uk/learn.html
Three Little Rules
Three little rules
Jamie’s rules for forex traders:
1.Understand the basics of technical analysis. You don’t need to be a quant-geek to be successful, but understanding the first ten chapters or so of the classic Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy would be a great start.
2.When the fundamental and technical outlooks for a currency differ, always side with the techs.
3.When the fundamental and technical outlooks for a currency converge, go for it! Take a more aggressive position than normal.
source:http://www.forexlive.com/three-little-rules
Jamie’s rules for forex traders:
1.Understand the basics of technical analysis. You don’t need to be a quant-geek to be successful, but understanding the first ten chapters or so of the classic Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy would be a great start.
2.When the fundamental and technical outlooks for a currency differ, always side with the techs.
3.When the fundamental and technical outlooks for a currency converge, go for it! Take a more aggressive position than normal.
source:http://www.forexlive.com/three-little-rules
Forex Jargon
Markets have a language all their own and within that language, forex has its own dialect. Here are some terms we commonly use in our commentary. If you would like to see additional terms defined, e-mail sem at forexlive.com
Bank for International Settlements (BIS) an international organization which fosters monetary and financial cooperation and serves as a bank for central banks. The BIS often acts as an agent in the forex market, allowing central banks to mask their identity in an attempt to dampen market impact.
Barrier option: A type of “exotic” option that comes into existence or ceases to exist once a certain price is reached. They are often added to a “vanilla” or typical option to make the premium less expensive. For example, a 1.4000 EUR/USD call purchased when spot is at 1.3500 would be cheaper if there were a “knockout” embedded in the option, for example at 1.3300. If 1.3300 trades before the expiration of the options, the whole structure would be “knocked out” and the seller of the option would be able to pocket the entire premium.
source:http://www.forexlive.com/forex-jargon
Bank for International Settlements (BIS) an international organization which fosters monetary and financial cooperation and serves as a bank for central banks. The BIS often acts as an agent in the forex market, allowing central banks to mask their identity in an attempt to dampen market impact.
Barrier option: A type of “exotic” option that comes into existence or ceases to exist once a certain price is reached. They are often added to a “vanilla” or typical option to make the premium less expensive. For example, a 1.4000 EUR/USD call purchased when spot is at 1.3500 would be cheaper if there were a “knockout” embedded in the option, for example at 1.3300. If 1.3300 trades before the expiration of the options, the whole structure would be “knocked out” and the seller of the option would be able to pocket the entire premium.
source:http://www.forexlive.com/forex-jargon
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