Forex trading or Foreign Exchange Trading refers to the simultaneous trading-that is, buying and selling-of two different currencies. It is done between and among major financial institutions, central banks, small retail currency traders or speculators, large international companies, government institutions, companies with overseas operations and the like.
Forex is the largest currency trading market and is widely traded by Banks, government and large financial company. The major currencies are United State Dollar, Europe Euro, Great Britain Pound and Swiss Franc. There are basically 2 type of trading, fundamental and technical trading. For technical trading, commonly using indicator using Moving average, High and Lows and Stochastic Oscillator.
Professional Forex trading is no different from running your own business, but you won’t run out of customers, the opportunity is always there. Of course it’s going to take some time for you to build it up to the level you want, but determination is a powerful thing. If you apply yourself and are serious about the venture, there is no reason why you can’t run a professional forex trading business from the luxury of your own home.
As a newbie, it is your responsibility to learn the basic things about forex trading. You cannot expect someone to guide you in the market unless you hire someone to help you. But more often than not, it will only be you alone. Here's a guide that will help you succeed in forex trading even if you are just at the beginning of your career.
All of these events are tipped off by price action on a naked price chart. There is no sense in trying to use an indicator to analyze human behavior reflected on a price chart when the raw price data is the closest reflection of the aggregate result of that very behavior in and of itself. Simple forex trading methods like price action analysis allow you to see what the mass of the forex trading community is trying to do. Price movement gives a clear window into the aggregate trading mind of all market participants. There is no need to confuse yourself with news analysis and lagging indicators when you can get the same information straight from the proverbial horse’s mouth.
Designing a trading forex plan that works to your own skills and insights could prove to be quite beneficial. Forex trading is anything but random and unfocused, so a targeted and logical plan will have far better results than unstructured trading. Granted, a forex trading plan may take a bit of time to develop. However, the time you spend will be more than worth it when you start to make profitable and successful trades.