Tuesday, March 18, 2008

Forex And Forex Trading Related News

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Quick Forex Ideas

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I always try to pyramid while position trading medium-term once I am convinced of a new medium-term trend emerging. Like in USD/JPY position trading 135-132 as an initial position, adding in 132 and 129 areas. Same for AUD/USD and EUR/USD with similar strategies. But sitting on positions and watching the counter-rallies costing truck load of money is not easy job to do and causes lots of pain all the time. Most traders even among experienced ones cannot bear that pain and give up too early. But there is no other way to make a big money and we have to bite the bullet and "sit and accumulate" as long as the medium-term trend is intact. That is why I always believe psychological aspects of trading is far more important than anything else in successful trading. A mind game like those bluffing game of poker.

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At present mostly all the operations on the Forex market are conducting only to obtain profit. With the development of Internet and other means of communication this sector of the financial markets becomes more accessible and attractive for the investors of different levels.

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The beginner forex currency trading should take note of the major currencies are the U.S. dollar (USD), the Euro dollar (EUR), the Japanese yen (JPY), the British pound sterling (GBP) [known as cable], the Swiss franc (CHF), the Canadian dollar (CAD), and the Australian dollar (AUD). All other currencies are referred to as minors.

All The Latest News From The Forex News World

Gold glitters again - sets new record

Mon, 17 Mar 2008 09:40:01 EDT
Gold futures soared to a fresh all-time trading high above $1,000 an ounce Friday as the dollar sunk to new lows.




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