Forex Training: Follow Your Gut or Your Broker

Which way will the forex market move? Do you just follow your gut feeling? Or do you have Neo's sixth sense that would let you be one with the market and feel the underlying currents.

Trading forex is a non stop action movie but a good one, where you really don't know who will win at the end. Every forex trader is trying to predict the winner of his own movie.

The forex markets move fast. Can we understand why they move? Yes, we can but only by having a feeling for the market, the instinct to know in which direction to move. Will our intuition enable us to predict the forex markets every move? Of course not. But understanding what makes the markets move will give the edge in making better trades.

What do we need to know!

- Who trades forex?

Traders, investment funds, corporations, banks and governments.

- Why do they trade?

Traders go for a quick speculative profit. Investment funds avoid risk and follow the long term trends. Corporations are trying to hedge on currency fluctuations. Banks are short term traders, market makers and hedgers. Governments trade currencies to keep there countries markets stable.

Now that we know who the players are we must understand ourselves. As the other players trades will impact greatly on our own. We need to decide on our trading strategy. There are just too many strategies to be covered in this article so please visit Forex Value Guides to for more information. http://www.forex.value-guides.com

But no matter our strategy, we must be disciplined and not let our emotions take over. That is not an easy thing to do when the markets go wild. We need to keep calm to analyze the other players to reach our profit goal.

Don't believe anyone who says trading is easy. You need a lot of will power not to keep changing your mind every minute and sharp analytical skill. Not only to understand the other players but to comprehend world events that have an impact on the markets.

What strategy should you choose? Each trader needs to develop his or her personal approach to the FOREX. Some traders rely solely on technical analysis while others prefer fundamental analysis, but many successful FOREX traders use a blend of both to get a broad overview of the market and for plotting entry and exit points.

There are many valid tools available to recognize market movements. The novice FOREX trader is well advised to study each one individually for getting a working knowledge of their concepts and use. Once one has been understood, keep on using it while studying others. Each method tends to reinforce the others.

David Jones is a freelance writer and world traveler who writes about subjects in which he has a personal interest. Forex Trading

---

Welcome to the World of Currency Trading

Indeed large multinational and individual banks and other major financial... Read More

The Nature of the Trading Business

Consider the following: As a trader you are in a... Read More

Trade Entry Techniques

Most traders tend to concentrate on pinpointing the perfect entry... Read More

Intrenet Marketing VS Forex Currency Trading

Have you noticed that when someone's trying to sell you... Read More

ISO 4217 in Forex Trading

ISO 4217 is an international standard describing three letter codes... Read More

A Fools Game

I received an email this week with a question (below)... Read More

Mechanical or Discretionary Trading - Which is Best?

Discretionary TradingPure discretionary trading will rely solely on the traders... Read More

Hedging Foreign Exchange Risks

The exchange rate of the Macedonian Denar against the major... Read More

The Secret of Reduced Margin Spreads

One of the best kept secrets in trading is that... Read More

Forex Made Easy for Everyone

Forex made easy is as simple as you would want... Read More

How to Trade Currency

We all know when you go on a trip to... Read More

Forex Trading Systems

The foreign exchange currency market is the largest market in... Read More

Assessing the Opportunities Presented by the New Iraqi Currency

Could it be possible that you are staring right into... Read More

A Beginner?s Guide to FOREX

FOREX is the abbreviation for the Foreign Exchange market. FOREX... Read More

Two Timeless Rules in FOREX Investing

RULE #1) ~ Cut your losers; let your winners ride.One... Read More

Forex Options Market Overview

The forex options market started as an over-the-counter (OTC) financial... Read More

Forex Trading Can Be Like Day-trading

Forex trading, or foreign currency trading, has become a bit... Read More

5 Questions You Need To Have Answered Before You Back-Test Your Forex System

As 90-95% of new forex traders lose money within the... Read More

A Short Introduction To FOREX

FOREX is the world's largest and most liquid trading market.... Read More

Example of a Profitable Transaction in FOREX

To make a profit, in the FOREX, a trader can... Read More

A Look at Online Forex Brokers

An online forex broker is a firm that facilitates retail... Read More

Forex Broker Involvement Optional

To trade on the forex market, the largest financial market... Read More

Types of Foreign Currency Hedging Vehicles

The following are some of the most common types of... Read More

Creativity in Trading

"Is it important to be creative in your trading?"I'm not... Read More

The Yin and the Yang of Markets

I am reading a fantastic book on trading, first published... Read More

Choosing A Forex Broker

With currency trading becoming ever more popular, the number of... Read More

Forex Brokers - Helping to Maximize Your Success

A Forex broker is a broker dealing in foreign exchange,... Read More

Exploring the World of Day Trading

Are you looking into a career in day trading? In... Read More

How To Choose Wisely A FOREX Broker

Most traders use a FOREX broker to handle their transactions.... Read More

E-currency Exchange Trading

If you are reading this article you are probably one... Read More

10 Steps To Professional Day Trading

Everyone trades a little differently. The trading method outlined below... Read More

Financial Crises, Global Capital Flows and the International Financial Architecture

The recent upheavals in the world financial markets were quelled... Read More

Forex Signal, Forex Signals Advice

There are lot's of Forex signals providers out there. New... Read More