I have also been alerted to a new initiative by Knowledge to Action that is coming out very soon which is to provide a lot of their teachings online and within a video format so you can watch and learn in the comfort of your own home! Here is the first “Trader Mindset” video which is one of 8 videos. I will alert you when the new educational site is online.
Archive | Forex 101
I was Short on the EUR/USD using the Knowledge to Action Forex Sniper Trade and had about 40 pips so I decided to close and collect my “winnings” but when I went to my brokering platform to close the trade the application was locked in what appeared to be a lost connection to the server.
This is a really cool deal I know my readers would be interested in! LEARN HOW TO TRADE FOREX This is the deal: Open an AxiTrader account with $5,000 and AxiTrader will pay $5,000 towards the Ultimate Forex Programme run by Knowledge To Action valued at $4,995 But look at the AWESOME bit! If 3 [...]
Over the period of trading madness where I did everything wrong I learned quite a bit and created these “rules” for myself. I use these rules as well as the rules that Knowledge to Action provides.
My point is that if you are educated by a reputable Forex educator and stick to their strategies and the rules you have a better chance of making money not losing it. The strategies provided by Knowledge to Action work – they have been back tested and used by 1000′s of people around the world. Stuff goes wrong when you think you know more or try to bend the rules.
I think the movement of the Forex market is based a lot on how people interpret the news. This “discovery” made sound like an absolute give-in to more experience Forex traders but for newbies I think this is might be of interest.
There is a heap to learn – not only the terms but all the other things such as technical and fundamental analysis.
The Currency Trading for Dummies is a brilliant book for anyone new to Forex training as it covers the very basics and also provides a heap of hints and tips. I learned quite a bit around the terminology used and how the market works which is something close to sheep
I noticed a few days back that the EUR/USD and AUD/USD pairs were heading south. I had a bit of a think about the AUD/USD and the positive vibes this currency pair has at the moment and decided to place an Income Generator trade Long.
As my readers know I am a graduate of the Knowledge to Action Ultimate Forex course. I went into the course not knowing anything about Forex trading and came out well educated with a solid foundation in the fundamentals of Forex trading and 3 core strategies I can use in the market.
Interbank FX created this cool info-graphic on the characteristics of a Forex trader. The graphic provides some interesting stats!
If I had stuck to the rules like Knowledge to Action teaches you I would have been stopped out on Monday with about 20 pips of loss and could have entered the trade again today.
I selected the EUR/USD because its the most liquid and there seems to be opportunities every day for my strategies – even if some trades are only 20 pips of profit it all adds up.