July 29, 2010
How does forex trading really work; what are the driving factors behind the FX markets? – I'm a newbie?
By Planet Wealth
I am a relatively new person to forex trading who’s had practice in demo accounts, and I’m wondering how forex trading really works, i.e what are the dring forces behind the forex markets, what moves them, etc? Please help/advise as I’m quite new to them. Thanks.
Topics: trading tips | 3 Comments »
3 Responses to “How does forex trading really work; what are the driving factors behind the FX markets? – I'm a newbie?”
Comments
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July 29th, 2010 at 8:04 pm
My best advise to you — don’t do it. This is strictly for professionals and they don’t even get it right sometimes. You’re more likely to lose than gain.
July 29th, 2010 at 8:04 pm
Hi William,
the forex market is a global market. Many factors drive it. Global issues. Financial issues. Political issues. The main point is that sentiments drive it.
For example, if there is a major war in a country now, that country’s currency may drop due to investors dread of it’s stability.
You certainly need lots of hard work to succeed! You are welcome to visit my forex learning blog if you want to learn more.
July 29th, 2010 at 8:04 pm
Technical – Price Channels – Major Support Resistance
Fundamental Interest Rates – Market expectations price in future rises or cuts –
Economics recession etc -
Mergers – Acquisitions Cash offers for Companies in a different currency
Flights to safety, on political reactions or uncertainty of leadership (elections etc), resignations, financial crisis, acts of terrorism, wars etc.
If Bernanke resigned and you know how to play it is simple.
Excellent Luck keep trades small while you learn.