Experienced foreign currency exchange traders are successful because they keep their eye on the ball, do not try to invent the wheel and specialise in 1 or 2 currency pairs. In other words, they’re focused and determined. They know that they really only need 1 solid trade per week to put them in the clover and they spend almost all their time searching for that trade. Is this really hard to do? No. Can anyone do it? Yes. Here’s an example. Open up an AUD/USD 1-hour chart and place a 10-period “Keltner Channel” ,plus a 5-period “Fisher Transform”, on it. Now, just watch when and where the Fisher Transform peaks and troughs. Notice where these points are on the Keltner Channel. Buying on a low Fisher Transform dip and/or selling on a high Fisher Transform peak is a feasible investment idea, isn’t it?
On the internet, there are a variety of websites that can help an individual forex trader. For EUR-related pairs, read “forexlive.com”. For AUD-related pairs, read “fxww.com”.
What Makes An Affluent Foreign Currency Exchange Trader?
Most foreign currency exchange traders who have discovered a consistent strategy for making profits, and are don’t let their success get to their heads, become relatively rich. They may choose to continue trading (e. g., Stanley Druckenmiller) or move on to managing their philanthropic efforts (e. g., Andy Krieger). Jack D. Schwager has published a number of books about what makes a great trader. His “Market Wizards” (Simon & Schuster, 1989),“The New Market Wizards” (Wiley, 1992) and “Market Wizards, Updated: Interviews With Top Traders” (Wiley, 2012) make for very interesting reading, since the bulk of all volumes is composed of interviews with people that rarely give interviews, much less talk about why they are a “wizard”. All 3 books are still in print.
How Can You Share The Success Of Foreign Currency Exchange Traders?
On the internet, there are a variety of forex-related websites and forums where an individual trader can make a difference. For instance, every UK morning, Mr Jim Trott, the former head of forex dealing for the Bank of England, graces the pages of “forexlive.com”, addressing some point of European forex trading. Such gems of wisdom are not to be missed. In Australia, Mr Sean Lee, also a former forex bank dealer (who now runs his own website, “fxww.com”) runs a very interesting, blow-by-blow, commentary during all Asian trading sessions. A newbie can learn an awful lot just by reading what’s being said. Websites, like “fxstreet.com”, also host a variety of forex experts who elaborate on what’s going on and why.
Tips For Getting Started With Foreign Currency Exchange
Forex is a very large capital market (in fact, in terms of daily turnover, it’s the world’s largest). Therefore, in the beginning, it’s a smart idea to take it slow and easy. Start with opening up a “demo account” and practising your moves in a stress-free environment where you own money is never at risk. Open up a 1-hour chart of the AUD/USD and put a 10-period “Keltner Channel” on it, plus a 5-period “Fisher Transform”, on it. Now, sit back and watch when and where the Fisher Transform peaks and troughs. Notice where these points are on the Keltner Channel. Buying on a low Fisher Transform dip and selling on a high Fisher Transform peak would work, wouldn’t it?
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