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.
How does forex trading really work; what are the driving factors behind the FX markets? – I'm a newbie?
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.
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3 comments - add yours
Angie
June 8, 2010
The Geek
June 8, 2010
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 fear of it’s stability.
You definitely need lots of hard work to succeed! You are welcome to visit my forex learning blog if you want to learn more.
RFITZ2010
June 8, 2010
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.
Good Luck keep trades small while you learn.
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