Forex Education

Hi All,

Any idea which books or any other resources i can use to learn how other Markets impact over Forex Market.I see some traders use USD Index or S/P 500 to help there trading decision.

Thanks

Most of the resources you need to solve this one are on the internet. To be honest I don't keep track of books very much because they deal with history, not what is happening now or what is proposed in the near future. There are some good books on trading, though. If you read the home page of Forex factory there will be up to date news. Or subscribe here: http://www.forexlive.com/ Anything you don't understand, ask or search with a search engine. sooner or later it will start to make sense, of a sort.

There is an inverse correlation between the US equity indexes, S&P500 for example, and the value of the dollar. Simply put, if people buy paper (equities and bonds), they are buying shares and (effectively) selling currency so the dollar goes down in value. But it's not that simple because news constantly alters the market perception and sentiment. That's why you need to keep up to date with whether it's risk on or risk off. Even the experts tear out their hair.

Hope this helps.

Hi All,

thank you for your answers.It will be helpful for me.

Happy Trading.

Hello all.
I'm new to the market. As such I'm craving advice. Made a few missteps already and had a few successes. I have a competent account manager but i feel I need to master this market and would appreciate all help in doing so.

Strange, but I think not needed!

There are enough ppl, who are watching news sites, listen radios and they are proud if they can publish here. I just look at my charts, if there is a strange movement atlower timeframe than I open the News page. I read the news and I make a decision: Has that news high impact on higher timeframe or not. Like a lazy, but I have more time for other important things. I am not trading 1minute charts. I am searching signals at 5m for 1h(scalp trades: 20 pip), or at 1h for daily(40-70 pip).

The market is driven by News, Technical and Sentiment. News is only 1, the other 2 can be stronger, even the news is good or bad. That's why any of indicators can't make a holy grail system, because the News+Sentiment can be stronger than tech. Can be used those indicators, news events, setups, but need to know when. If I would know all the time properly, than I would be billionaire

I hope it helps.

Well you need to learn to take trades only in high timeframes. Fundamental analysis - COT reports, interaction between markets, correlations, seeing then money is moving from one asset to another, because volumes only can be seen this way. You need track bonds, libors, options, futures, metals, oil, stocks, see which news is makes most impact in given circumstances. From technical analysis you need trends, ema, support resistance. with risking no more 0,5 percent per trade you should do well on daily tf. Leverage max could be 1:100. And don't use indicators, trade like pro from clean chart, there you can see all with candles. Look for trends, and jump in on retracement, its seen with emas, for example 40 and 18 close. Then you can take small Sl and get very big profit. Risk reward in this case is very good, because you can go with trend very long way. And trading on higher timeframes you can concentrate and not overtrade. News is also have smaller impact here. Trading on smaller timeframes is worse because there is noise, news have impact, spread must be taken into account... If you want trade smaller timeframes <1 H, trade only when there is a lot of transactions in the market, its in LOndon - NY session.

No got back to me in the thread I posted this so i'm hoping someone can help me here.

If you're looking for some lessons in Forex then a good place to try is the BabyPips School. It's easy to understand and covers the fundamentals, but tbh you'll learn a lot more about trading (and yourself trading) once you start trading live.

Forex factory is trhe best site I have found to make fundamental analysis. I have no doubt. Also you can read news of bloomberg to understand the current economic condition of word.
So always visit calender section and news section of Forex factory, Also follow what senior members are suggesting.

Another website that has it all to know the fundamental and technical aspect of forex trading.

1. http://www.fxstreet.com/education/le...center/unit-1/

2. http://www.babypips.com/school/what-is-forex.html

No need to buy a book unless you have some money to spare. Book could cost you $20 upwards, read everything in the websites above and deposit your budget for book to a live trading account and go from there.

Why would one need a book to study on Forex?? You've got the entire Encyclopaedia here at FF.

Definitely get on BabyPips School, you'll learn a lot from there and it's free. Take your time with it, and don't make rash decisions and jump in with inexperience or you'll blow your account.

Hi, everyone. I'm newbie here and can't create the new thread with forecast, because of absence of some vouchers. What is this and how can I get them? Can anybody help?

Education is the most important thing in the forex trading.. To make money from this market, you need to have proper knowledge and education.

There A lot of forex stuff is available on this forex factory forums. You can also check other forex forums to gain knowledge and there are a lot of youtube videos available for forex study. Don't spend money on suscribing paid forex channels.

Education is a must needed thing in the forex market to make profit. Without education it is quite tough to survive in this risky market. So, first, get proper forex education and then try to earn money by trading in the market.

I think researching on specific pair can help to understand price pattern of that pair. Every pair has its own unique characteristics. If you can find out that you don't even need too many pairs to trade. Only one or two pairs can be sufficient.

Anyone knows where to get all the data about forex? For example, Buying and selling pressure, open interests each month and options expiry.

Education is very necessary thing in Forex tyrading and it is difficult to be successful in Forex without having proper knowledge about Forex trading. So it is necessary for everyone to learn basic things about Forex before start trading.

If you want to do technical analysis, I suggest a book that will help you a lot in doing technical analysis. The name of that book is Technical Analysis Explained. Its author is Martin j. pring. And you can learn a lot from online if you want Google will find many kinds of Forex-related articles and videos that will help you a lot to learn to trade.