Sunday, June 04, 2006
Learn Online Forex Trading - What is the market saying??
Learn Online Forex Trading - Welcome to the new week. What is the market saying this week?
Last week on Friday the the USD went weak..Significantly weak. Why?? Because the "Non Firm Payrolls" results were not strong.
Remember guys and gals, I told you that in forex trading market, the market moves because of 2 broad reasons ?? One is Technical and the other is fundamental. Of the two the most widely used by we all traders is technical. However big banks, funds owners they put more emphasis of Fundamentals because Fundamental Announcement overrides all the technical announcement.
Please read again the last sentence..If you did technical analysis and are dead confident that market will move the way you predicted, you would be surprised when you'll find out that market went exact opposite to what you predicted..Why?? Because just then a fundamental announcement broke out that drove the market with it.
Non Firm Payroll declaration is one of the strongest fundamental announcements and happens on the last Friday of every month. There are many others also. During these announcements, the market moves 100-150 pips in just a matter of seconds or minutes..
So here is my advice for trading when fundamental announcement is about to break -
1. Never Trade the fundamental announcements..It can wipe out your account.
2. Never trade from 15 min prior to 30 min. after fundamental announcements have been made. This is an important tip for frex trading..Better learn it to save your riches.
3. Whenever you are going to make a trade, check the calender of these announcements to check when is next important fundamental announcement. One recommended site is -
http://www.dailyfx.com
Learn this concept carefully for doing forex trading.
Now, if you look at the charts on the same site, you'll see that EUR/USD is at or near all time high for the span of last few months..
So it breaks the high, the EUR/USD can be expected to cross 1.3200 I guess..Same with GBP/USD and USD/CHF..I guess $$$ is going to get week against all currencies..
BUT, I'll place my trades only when my theory is confirmed!! Place a trade only when you get confirmation from ypur indicators. Learn this concept as well.
So, this week is very important for all the traders as I guess a breakout may happen.
Tomorrow I'll post details about a very important and widely used indicator which is very reliable.
So keep visiting this site to learn forex trading online. Infact I'll would recommend to add RSS feeds of this site to your default page.
See you tomorrow for another session on forex trading.
Last week on Friday the the USD went weak..Significantly weak. Why?? Because the "Non Firm Payrolls" results were not strong.
Remember guys and gals, I told you that in forex trading market, the market moves because of 2 broad reasons ?? One is Technical and the other is fundamental. Of the two the most widely used by we all traders is technical. However big banks, funds owners they put more emphasis of Fundamentals because Fundamental Announcement overrides all the technical announcement.
Please read again the last sentence..If you did technical analysis and are dead confident that market will move the way you predicted, you would be surprised when you'll find out that market went exact opposite to what you predicted..Why?? Because just then a fundamental announcement broke out that drove the market with it.
Non Firm Payroll declaration is one of the strongest fundamental announcements and happens on the last Friday of every month. There are many others also. During these announcements, the market moves 100-150 pips in just a matter of seconds or minutes..
So here is my advice for trading when fundamental announcement is about to break -
1. Never Trade the fundamental announcements..It can wipe out your account.
2. Never trade from 15 min prior to 30 min. after fundamental announcements have been made. This is an important tip for frex trading..Better learn it to save your riches.
3. Whenever you are going to make a trade, check the calender of these announcements to check when is next important fundamental announcement. One recommended site is -
http://www.dailyfx.com
Learn this concept carefully for doing forex trading.
Now, if you look at the charts on the same site, you'll see that EUR/USD is at or near all time high for the span of last few months..
So it breaks the high, the EUR/USD can be expected to cross 1.3200 I guess..Same with GBP/USD and USD/CHF..I guess $$$ is going to get week against all currencies..
BUT, I'll place my trades only when my theory is confirmed!! Place a trade only when you get confirmation from ypur indicators. Learn this concept as well.
So, this week is very important for all the traders as I guess a breakout may happen.
Tomorrow I'll post details about a very important and widely used indicator which is very reliable.
So keep visiting this site to learn forex trading online. Infact I'll would recommend to add RSS feeds of this site to your default page.
See you tomorrow for another session on forex trading.
