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Quality Forex Education Resources

by Dan Ho

The following is a brief and by no means complete list of sources.

Forex Trading for Maximum Profit: the Best Kept Secret off Wall Street, a book and CD-Rom by Raghee Horner offers forex education for those who are just beginning to learn forex trading trend lines and the differences between major and minor trends. The book also explains the process of placing orders and tries to prepare the reader for the ups and downs of forex trading. The CD-Rom included with the book illustrates trading techniques and the authors successful trading systems. Raghee Horner is referred to as a master teacher of forex education.

The Ultimate Professional Trader Plus CD library is a product by Online Trading Academy which attempts to be the ultimate forex trading education package, with not one, but 24 CDs. This package strives to explain everything from the fundamentals of forex, to advice for those seeking to learn forex trading as a business.

There are numerous websites that offer demo accounts designed to help the individual learn forex trading. One particular site, Hawaii forex, offers not only free demo accounts, but also free 'webinars'. This site also sells a basic forex trading educational package and a 'power course' to learn forex trading indicators.

Another company that will soon offer live forex education on the web is forex Trading USA. This company recommends mentoring as the key to effective forex trading education that will lead to eventual success at trading currencies.

Advanz Forex offers on-line courses designed to 'jump-start,' according to them, successful trading. For those who are in a hurry to learn forex trading, perhaps this is the right educational package. This forex education course is available in English and Spanish.

As with any investment, forex trading can lead to substantial losses. The experts say that the best way to avoid excessive loss is through education and independent professional advice. For anyone attempting to learn forex trading, it would be inadvisable to make that first trade until you have some solid forex education as currency trading is more sophisticated than either equities or options.

Learn more about http://www.forex-trading-reference.com/Forex_education.html at http://www.forex-trading-reference.com

Additional Info On Forex Today

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Before you decide to enlist the services of a foreign currency broker, take the time to do some research on the broker and / or brokerage firm. Foreign currency trading has enough pitfalls to avoid without adding a shady broker to the equation. You can make a lot of money trading foreign currencies, but if what the broker says sounds too good to be true, chances are it is.

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PIP is nothing special but Price Interest Points. In the forex market, currencies are always priced in pairs. The quoted price is the level where we, acting as the market maker, are willing to buy/sell the currency pair. In the wholesale market, currencies are quoted out to four decimal places, with the last placeholder called a point or a pip. A pip in most currencies is one /10,000th of an exchange rate (in USD/JPY, it is one /100th, likewise you can find for others).

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Forex TRADING: A MIND GAME
You must change your mental attitude first from a normal person to that of a speculator. Almost all traders I have met, except a few successful ones who really made millions and billions trading in the market, simply waste all their time trying to learn the easiest part in perfection, like about how to read data and charts, and trying to perfect entry and exit skills, etc. Trading is a mind game and without having a right frame of mind, it is a losing game even before it starts. Training a trader?s mind is the first step for any successful trader but almost all new traders neglect that part and that explains why more than 95% of traders are a failure in the long run.
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Bernanke Kills Any Chance for a Dollar Rally

Fri, 09 Nov 2007 06:41:58 GMT

• 3 Reasons for the Euro to Hit 1.
  
  Forex Currency Trading | Global Forex
  
  

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The more questions you ask, the more you�ll educate yourself about all aspects of foreign currency trading. It can be useful to subscribe to some electronic forex publications as well. With ongoing education and networking, you�ll soon be trading like a pro
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Ebb and flow of capital between nations, otherwise known as Purchasing Power Parity (PPP) is the central factor that determines market momentum. In addition, fundamental economic forces such as inflation and interest rates are constantly influencing currency prices. Faith in a government�s ability to stand behind its currency will also impact currency price. This is done in two ways: controls and intervention. Controls restrict citizens from doing things, which have a negative effect on the exchange rate (such as sending money abroad). Intervention takes two forms: changing the interest rate on the currency to make it more or less attractive to foreigners, or buying/selling the currency to raise or lower its market value.

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As a rule of thumb, 20 MAs in 8 hour, day, week and month are useful for its directional tendency and as a resistance and support point. Not sure how much it is useful in daytrading though.
Please have a look at Eur/Usd and Usd/Jpy weekly 10 RSI and Aud/Usd monthly 10 RSI "patterns", not levels. Then you will find out primitive things work better when coupled with even simpler MAs. And RSI is useful "only in these weekly and monthly time scale" as far as I can see. You can ignore RSI in short-term scales as the inventor of RSI, Wilder, told us long ago.

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The simplest definition of currency trading is the practice of exchanging one country's currency for another country's currency. Basically, currency trading involves four main variables: currencies, exchange rate, time, and interest rate. The interplay of these variables creates opportunities for small investors to obtain investment returns that are generally unheard of in the traditional investment world. It is also referred to as foreign exchange, FX or Forex, but the essence remains the same that currency trading is the exchange of one currency against another.

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US Dollar Consolidates Losses as Easing Price Pressures Boost Fed Rate Cut Expectations

Fri, 28 Mar 2008 21:23:18 -0400
Rising risk aversion paired with slowing inflationary pressures heightened US dollar volatility as it swayed throughout the trading session. Against the...

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For the last three decades Foreign Exchange market, - briefly Forex or FX, had integrated into the world's biggest financial market. The volume of daily transactions is about 1-3 trillion of US dollars. The trading instruments on this market are the currencies of different countries, so the fluctuation of currency's rates allows to gain a real profit.

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The primary factors influencing exchange rates include the balance of payments, the state of the economy, implications drawn from chart analysis as well as political and psychological factors.

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The gross domestic product,or GDP,is another economic indicator used when looking at the foreign exchange market. The GDP is considered the widest and broadest measure of the economy in a country. The gross domestic product represents the total market value of all goods and services that are normally produced within any given country. This is usually measured in the time frame of a year, and not in weeks or months. Using a larger time period gives good statistics on the products and services that are produced in the country. This indicator is not used alone when forecasting the Forex. The GDP is considered a lagging indicator, meaning that is a measurable factor that changes after the economy has already began to follow a certain trend.

Online Forex News From Around The World

Euro Remains Firm - But Is There Weakness Underneath?

Fri, 28 Mar 2008 11:17:10 -0400
Talking Points - Japanese Yen: Back to 100 as equities rally and data mixed - Euro: Hovers near 1.5800 on Weber comments but Retail PMI drops below 50...


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