Currently I am doing a study on Forex Trends. Trends and behavioral patterns of the market not in relation to economical or other news. I started this study because one such trend has stood out to me and I have begun to watch it for a history of doing the same thing.
Could you imagine ones success trading in Forex if there was a predictable known pattern that would most likely always play out. I so far have found one such trend and I am now in a information gather and analyzing stage. I just need more data to confirm what it appears is true.
One technical tip that I read said to pick a currency pair and become an expert on that pair. Don’t worry about the many others just be the expert on one. So this is what I have done for the past year now and I see why being so focused on one pair is important. Has anyone else ever found or are you aware of repeating trends in Forex markets? I would love to hear more about it. I will update as to the findings of my experiment as they become available.
February 28th, 2008
Rusty
Several have asked me what is Forex? So I’m going back to the basics for those who don’t know but may be looking for a new opportunity. Forex simply stands for Foreign Exchange and it is the exchange of one countries currency for another countries currency. Forex is a non-stop cash market open 24 hours a day and 5 days a week. Currencies constantly change in value and the Forex system allows you to trade the currencies just like you would stocks on the New York Stock Exchange. One difference for me is the level of excitement that the Forex market can bring. The prices are constantly changing and volatile markets offer profit opportunities. Because of the huge liquidity of the market, trades are done on leverage. This give you much bigger buying power with less money. Most brokers offer 100:1 leverage, some more than that. The Forex market has been around for some time, its only been recently that its been opened up more to individuals or retail investors to use thanks to the home pc and internet. The Forex market is one of the main ways our large financial institutes make money. By taking the money you deposit and trading it, buying and selling currencies as their value increases or decreases. Like with the stock market, there is risk. Trading with Forex take practice and skill. If you have the patients to learn however, it can be a payoff. I currently have a practice account with FxClub and in some days have made as much as $900. If your up for something new, that truly does have a winning potential or just want a new challange, give Forex a try, but start with the free practice account first!
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