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[ericlbn27]

If you decide to try making some quick money, that too fast, forex trading may be the one you should try. This will be an ideal arena for you to enter to try an alternative arrangement for earning some extra income other than your regular job. You can make it your primary job once you master the trading skills.
The forex market is so huge that it may not be possible for an individual to be aware of the crucial changes that occur all over such as exchange rate fluctuations, political influences, and economic factors. Even the experienced bankers and traders can not predict how these changes can affect your trade.

But this step has to be taken very cautiously as the forex trading is highly volatile, it is very, very large that it is easy for you to miss a turn that affect your investment, it is unpredictable, and has high risk involved.

Forex trading involves dealing with the currencies of different countries. It is buying or selling of one currency for another at a rate both parties have decided. This trading involves different parties from different countries all over the world. So the area is very vast and to keep track of every move takes a lot of time, alertness, and a realistic approach to the different strategies. You have to have access to the latest issues and trends that keep changing at very high speed. Your success lies in how fast you can
The fact that forex trading is all about making a fast buck, it posed the danger of you getting addicted to this just like in gambling and it is open to whoever is willing throughout the day, throughout the year.

Only large banks were dealing with foreign currencies previously. Globalization and relaxation of foreign exchange rules make it possible for anyone to enter the forex trade. With this the market achieved more liquidity and more active as the trade is happening all over the world with no time limit.

The dark side of it is that the market became so huge, and the changes are so unpredictable that it is very hard to keep a watch on every move that is happening. Those who are smart enough to understand the market better, do well and the others who can not lose money. So the time management is very crucial here.>

[FerruFx]

Originally Posted by ericlbn27

If you decide to try making some quick money, that too fast, forex trading may be the one you should try.....

....... but this step has to be taken very cautiously as the forex trading is highly volatile, it is very, very large that it is easy for you to miss a turn that affect your investment, it is unpredictable, and has high risk involved ......

......... So the time management is very crucial here

Can't agree more than this.

FerruFx

does a builder learn how to build overnight
nonono no

[Sofia.forex]

After reading all your post i would only say that never ever add to a losing position. As I think this is one of the biggest "diseases" traders have. A stop loss is like a red light, it's not a suggestion. It tells you to get out of the market not to add more money to the trade. It simply makes me angry to see people adding money to a losing position. It has no justification except one. HOPE! They don’t say "gee, I was wrong and should have exited in my stop loss level", they say "I am correct about the direction of the market, it's just that my stop loss was placed to close to my entry. If I hang in there and add more money the trade will surely go my way and I will not only make for the loss but I will make much more since now I am adding to my position at a much better price!".

Happy Trading!

[TheSundanceKid]

[QUOTE=Sofia.forex;250436]After reading all your post i would only say that never ever add to a losing position. As I think this is one of the biggest "diseases" traders have. A stop loss is like a red light, it's not a suggestion. It tells you to get out of the market not to add more money to the trade. It simply makes me angry to see people adding money to a losing position. It has no justification except one. HOPE! They don’t say "gee, I was wrong and should have exited in my stop loss level", they say "I am correct about the direction of the market, it's just that my stop loss was placed to close to my entry. If I hang in there and add more money the trade will surely go my way and I will not only make for the loss but I will make much more since now I am adding to my position at a much better price!".

When I first started training, I blew up many accounts by not obeying this rule!

[MisterPip]

Thanks for the info.......

[jeff15]

Forex trading involves dealing with the currencies of different countries. It is buying or selling of one currency for another at a rate both parties have decided. This trading involves different parties from different countries all over the world. So the area is very vast and to keep track of every move takes a lot of time, alertness, and a realistic approach to the different strategies. You have to have access to the latest issues and trends that keep changing at very high speed. Your success lies in how fast you can act upon an information to your benefit.

The fact that forex trading is all about making a fast buck, it posed the danger of you getting addicted to this just like in gambling and it is open to whoever is willing throughout the day, throughout the year.

Only large banks were dealing with foreign currencies previously. Globalization and relaxation of foreign exchange rules make it possible for anyone to enter the forex trade. With this the market achieved more liquidity and more active as the trade is happening all over the world with no time limit.

The dark side of it is that the market became so huge, and the changes are so unpredictable that it is very hard to keep a watch on every move that is happening. Those who are smart enough to understand the market better, do well and the others who can not lose money. So the time management is very crucial here.

[Sofia.forex]

Ohh thats sad, we need to act very professionally and practically while trading, emotions leads you nowhere.

[MarioX]

Originally Posted by ericlbn27

If you decide to try making some quick money, that too fast, forex trading may be the one you should try. This will be an ideal arena for you to enter to try an alternative arrangement for earning some extra income other than your regular job. You can make it your primary job once you master the trading skills.
The forex market is so huge that it may not be possible for an individual to be aware of the crucial changes that occur all over such as exchange rate fluctuations, political influences, and economic factors. Even the experienced bankers and traders can not predict how these changes can affect your trade.

But this step has to be taken very cautiously as the forex trading is highly volatile, it is very, very large that it is easy for you to miss a turn that affect your investment, it is unpredictable, and has high risk involved.

Forex trading involves dealing with the currencies of different countries. It is buying or selling of one currency for another at a rate both parties have decided. This trading involves different parties from different countries all over the world. So the area is very vast and to keep track of every move takes a lot of time, alertness, and a realistic approach to the different strategies. You have to have access to the latest issues and trends that keep changing at very high speed. Your success lies in how fast you can
The fact that forex trading is all about making a fast buck, it posed the danger of you getting addicted to this just like in gambling and it is open to whoever is willing throughout the day, throughout the year.

Only large banks were dealing with foreign currencies previously. Globalization and relaxation of foreign exchange rules make it possible for anyone to enter the forex trade. With this the market achieved more liquidity and more active as the trade is happening all over the world with no time limit.

The dark side of it is that the market became so huge, and the changes are so unpredictable that it is very hard to keep a watch on every move that is happening. Those who are smart enough to understand the market better, do well and the others who can not lose money. So the time management is very crucial here.>

Yeah, welcome to the market! Wait few years - you will get used to it.

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[praetserge]

I think your last paragraph is the best as the markets become so big and unpredictable and thus it's easier to make money as stocks/forex start to channel.

[pinalli]

No doubt that your article is interesting but forex trading is not so dangerous. You need to have good management skill if you want to survive.

The most important tools are:

1. Money management
2. Risk management

[MarioX]

Originally Posted by jeff15

Forex trading involves dealing with the currencies of different countries. It is buying or selling of one currency for another at a rate both parties have decided. This trading involves different parties from different countries all over the world. So the area is very vast and to keep track of every move takes a lot of time, alertness, and a realistic approach to the different strategies. You have to have access to the latest issues and trends that keep changing at very high speed. Your success lies in how fast you can act upon an information to your benefit.

The fact that forex trading is all about making a fast buck, it posed the danger of you getting addicted to this just like in gambling and it is open to whoever is willing throughout the day, throughout the year.

Only large banks were dealing with foreign currencies previously. Globalization and relaxation of foreign exchange rules make it possible for anyone to enter the forex trade. With this the market achieved more liquidity and more active as the trade is happening all over the world with no time limit.

The dark side of it is that the market became so huge, and the changes are so unpredictable that it is very hard to keep a watch on every move that is happening. Those who are smart enough to understand the market better, do well and the others who can not lose money. So the time management is very crucial here.

Very true. Market is changing. But don't expect that trades of casual traders have that big impact. Banks still make most of the volume. Market is changing but I am not sure if it is due to the reasons you mentioned. But definately I can see by myself some changes.

[pinalli]

yeh!

What is the market doing? Is it trending upwards, downwards, is it in a trading range. Is the trend strong or weak, did it begin long ago or does it look like a new trend that's forming. Getting a clear picture of the market situation is laying the groundwork for a successful trade.>>

[BigFX]

Originally Posted by pinalli

No doubt that your article is interesting but forex trading is not so dangerous. You need to have good management skill if you want to survive.

The most important tools are:

1. Money management
2. Risk management

I agree. Not many loook at it. I remember Van Tharp is teaching a lot about this too.