How do I trade Forex?

[Tim Smith]

You better make investment in stock market, in low growth stock for regular income and high growth stock for large capital gains...

One of the best statements on derivatives trading I've read in a long time !

Your time spent researching equities is much more rewarding.

Not only that, but you don't have to go crazy attempting at the zero-sum game known as day trading. Buy some stocks, hold them for weeks, months or years. Regain your sanity and see more of your friends and family without worrying about being away from the computer for 30 seconds.

 

[cresa maugh]

what is swing trade?
Does swing trade work in FX? because I remember a guy who ran a journal on ET with demo earlier this year, he said he strategy is the swing trade but his overall position was negative.

Of coures it doesn't work in fx. Whoever wrote that is clueless.

 

[cresa maugh]

fx is not stock or etf

 

[MCben]

How long have you bee trading? Or you just started? To me, it seems like you have a lot to learn and understand. Don't worry , you will get help.

 

[radex78]

Forex trading is risky, I have seen so many people look forex like as gambling, because after throw order we never know will end get profit or not, but in fact so many market participant on the market from institution, many bank around the world, and included retail trader which also as speculator

 

[victorycountry]

How long have you bee trading? Or you just started? To me, it seems like you have a lot to learn and understand. Don't worry , you will get help.

Better not give him false hope...even yourself don't know how to trade on FX, Mr. Broker

 

[radex78]

Start trading is simple, just need open account on broker, then verify account then making deposit and instal platform trading hence already can start trading, but most difficulties is how to making profit from trading

 

[Emma bing]

what is it?
i mean, i know what it is, but, how do you trade it?

EUR/USD for example. do you just look at it, set some targets and trade near support and resistance?

What do you look for?
Consider this a beginners thread and question.

Thanks!

Forex trading is not that simple you have to look for various peculiarities. Like some people say they do technical analysis, some do fundamental. However, my opinion is that one cannot make a successful trade based upon any one of the analysis. Combination of the two can lead to successful trading strategies.

In your case, we just don’t set the targets near support or resistance. Firstly, you need to look at the current trend on chart at which level pair is trading presently. Use some indicators, strategies to accurately predict the probable trend. Also fundamentally you need to check the economic circumstances in the zone.

Like in EUR/USD presently it is facing uncertainties owing to the political instability and Italy referendum scheduled on Sunday all these factors have the probability to take the cross down. So investors are sidelined and wait for the major events to happen.

 

[comagnum]

Does swing trade work in FX? because I remember a guy who ran a journal on ET with demo earlier this year, he said he strategy is the swing trade but his overall position was negative.
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As a discretionary swing trader that trades futures, Fx, and equities - holding from days to months, I can tell you it works very well at times, and at other times it does not. That is why most advanced traders talk mostly about risk mgmt and not signals for entry. Most of trading is treading water waiting for a few big waves to ride each year without being swept out to sea by all the bad trades. We are aggressive with cutting losses and pit bulls with staying with our winners. On many years FX accounts for more than half of our winners - so the market is optimal for swing trading provided you treat it like a business - meaning you have a trading plan, size your trades so that no single trade will result in losing more than 2% of your capital, etc.. It can be done if your persistent and stick to your plan.

 

[radex78]

Sometime I am remember one good quotation that simple but touched, trade like we we see and don't trade like as you think, I am agree with this statement because in the market often easily to changed and if before already making analysis with best analysis but in fact the trend against order we need to having courage to cut loss