Let's Learn & Earn at Any Time, At Any Where, At Will :): How to get started as a forex trader?

Wednesday, November 25, 2009

How to get started as a forex trader?

The Basics
Get Started
how to get started as a forex trader

www.dailyfx.com/how_to_trade_forex/learn_forex/

1)The 5 Basics of Making a Forex Trade
What you need to know before placing your first Forex trade.
1. Reading a Forex Quote
2. What is a Pip?
3. Leverage and Margin
4. Rollover
5. Forex Market Hours

2) The 5 Basics of Fundamental Analysis
What you need to know to place a trade using economic news.
1. Trade Flows and Capital Flows
2. Interest Rates
3. Inflation and CPI
4. Geo-Political Events
5. Non-Farm Payrolls

3) The 5 Basics of Technical Analysis
What you need to know to place a trade using charts.
1. Basics of Technical Analysis
2. Determining the Trend
3. Multiple Time Frame Analysis
4. Support and Resistance
5. Stops and Limits

Learn to maximize your trading by using DailyFX. This section provides a set of special guides that give you complete explanations, background, and general tips for making the most out of every article.

Enjoy your learning journey :)

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RISK WARNING:

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.

Welcome to Money World !!

Money management is the process of managing money. It includes investment, budgeting, banking and taxes. It is also called investment management. Money management is a strategic technique employed at making money yield the highest of interest-yielding value for any amount of it spent. Spending money to provide answers to all cravings (regardless of whether they are justifiable or not to be included in budget basket) is a natural human phenomenon. The idea of money management techniques is developed to plummet the amount individual, firm and institutions spends on items that add no significant value to its living standard, long-term portfolios and asset-basins. Warren Buffet, in one of his documentaries, admonished prospective investors to embrace his highly-esteemed "frugality" ideology. This is the basis of every sound money management formulas. The following are powerful techniques that can be employed in making every expense made to be worth it: 1. cutting your budget on social needs 2. avoid any snob-appealing expense 3. always go for the most cost-effective alternative (establishing small quality-variance bench-mark, if any) 4. increase expenses more on interest bearing item than any other thing 5. establish the expected benefits of every desired expense using the canon of plus/minus/nil to standard of living value system. These techniques are investment-boosting and portfolio-multiplying. Money management is used in Investment management and deals with the question of how much risk a decision maker should take in situations where uncertainty is present. More precisely what percentage or what part of the decision maker's wealth should be put into risk in order to maximize the decision maker's utility function. Refer from : http://en.wikipedia.org/wiki/Money_management