Hey everyoneTo start of, I am only a teenager trying to learn of foreign exchange and trying to make a little bit of money for university. I have a very pressing question which has been bugging me. I recently BOUGHT 50$, 20,000 units of USD/JPY at 120.54. I did this .....................
fxtradeabi, the best advise you could have given, very wise words.
Xaviergoby, count many of such moves as the psychology. People really try to make money on those dips. Enter, exist trades... In this business there is a lot of speculation. Stock market, I would say, is much more predictable, you can make good judgement based on the news. Forex, on the contrary, is more like an emotional spring of course affected by the real world events.
Forex is like learning to tame a foreign world animal, you cannot explain it unless you try to ride it yourself. Ride the bull and learn to fall, then ride again
Same for the bear, you choose what animal fits you better.
Good luck!
Xaviergoby, count many of such moves as the psychology. People really try to make money on those dips. Enter, exist trades... In this business there is a lot of speculation. Stock market, I would say, is much more predictable, you can make good judgement based on the news. Forex, on the contrary, is more like an emotional spring of course affected by the real world events.
Forex is like learning to tame a foreign world animal, you cannot explain it unless you try to ride it yourself. Ride the bull and learn to fall, then ride again
Same for the bear, you choose what animal fits you better.Good luck!
Pka abd fxtradeabi thank you very much for both of your insights! Then, if I do not trade with the news what else should I be using? I use the tools on investing.com very often in order to determine whether the currency pair is a strong buy or strong sel etc. I also use the MACD indicator to decide when to buy or to sell. Any other tips you helpful profesionals may offer me 
? I am feeling very down and sad about this, however I am trying to pick myself up.
Thank you once more. I feel very lucky to have discovered this forum
? I am feeling very down and sad about this, however I am trying to pick myself up.Thank you once more. I feel very lucky to have discovered this forum
- #52,556
- Dec 5, 2014 9:00am Dec 5, 2014 9:00am
- | Joined Nov 2013 | Status: Trader | 1,222 Posts
Is this photo shopped baby? I AM IN HEAVY LETS GO!! @ FXTRADEABI
- #52,558
- Dec 5, 2014 9:03am Dec 5, 2014 9:03am
- | Joined Nov 2013 | Status: Trader | 1,222 Posts
Niceeeee {quote}.
Thank you! Another great week.
- #52,560
- Dec 5, 2014 9:09am Dec 5, 2014 9:09am
- | Joined Nov 2013 | Status: Trader | 1,222 Posts
Careful if anyone is holding over the weekend. I would highly suggest consider taking some profit