Forex is short term for your Foreign Exchange Market. It is a worldwide monetary market for trading foreign currencies. The main purpose is to assist the international trade plus investment industry. For example, in this particular market, one company will get to buy Chinese products simply by use of US dollars. Hence, this market determines how much the particular exchange rate is for foreign currencies.
Ned Davis wrote an e-book with this title, and though I actually haven’t read the book, however, I will. The title only is enough to make anyone a much better trader. I think this concept is so important I’ve created posts on it already, and am sure I’ll write a lot more posts about it in the future.
Next, you have to establish a broker agent account through your trader. Be sure that the broker is a bank or a primary standard bank. The company that the broker symbolizes must be registered Futures Percentage Merchant, which is under the CFTC, or commodity futures trading for beginners Commission.
Successful short-term commodity trading online requires time to pay out your dues – to understand the patterns and behavior of a particular market instantly. (More on this in long term articles) Once you have memorized the and more subtle patterns that will signal probable market SWITCHING POINTS, only then are you experiencing the mental reserve to look into an “autopilot” setting and day-trade using your effective intuition. Intuition is simply going your accumulated knowledge on the subject.
This really is only the tip of the iceberg when it comes to the incredible knowledge plus wisdom of W. Deb. Gann. I highly recommend reading through his books, especially the main one mentioned earlier in this article. Research his methods and concepts. You will become a better investor by doing so.