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Don’t assume that you know everything
from:If there is one piece of advice that should be issued to every potential Forex trader before they go anywhere near the trading floor (virtual or otherwise) it is this: “You may well arrive at the conclusion that you are always right. Get that idea out of your head now before it is proved to be dead wrong.”
The fact of the matter is that even the most experienced traders, and the most successful of those, have made mistakes in the past. In fact, the ones who have continued to trade for years and made a lot of money will very often be the ones who didn’t get overconfident. There is only one thing that can come from absolute confidence, and that is a rude awakening. Allow yourself to consider the phrase “the only thing that I truly know is that I know nothing”. Although it may not be quite true, it at least allows you to keep reasonable expectations.
The simple truth is that a bit of confidence is always worthwhile – it pushes you to make decisions that can be risky but are manageable. Too much confidence however is always bad. It does not allow you to keep an open mind. Without an open mind you will not be able to play the market successfully, as it will often be too late to react and make quick profits. The race, as corny as it sounds, is only against yourself, so take the time to learn its course and you will benefit.
Converter Currency Exchange Foreign Rate Online Trading News
So You Want to be a Foreign Exchange Trader - FINS
So You Want to be a Foreign Exchange Trader FINS With $4 trillion traded each day, double that of seven years ago, the foreign exchange, or FX, market is the biggest, most liquid in the world. It reacts almost instantaneously to news about interest rates, economic growth and political upheaval, ... |
Are you missing out on forex trading? - Globe and Mail
 Globe and Mail | Are you missing out on forex trading? Globe and Mail Powered by developments in electronic trading, the foreign exchange (currency exchange) market has grown into a global business turning over $4-trillion (US) a day, according to the latest Bank for International Settlements triennial survey (2010). |
U.S. Didn't Intervene in Currency Markets in Fourth Quarter - Bloomberg
U.S. Didn't Intervene in Currency Markets in Fourth Quarter Bloomberg The US didn't buy or sell dollars to affect foreign-exchange rates in the fourth quarter, the Federal Reserve Bank of New York said in a report to Congress. The New York Fed, which acts for the US Treasury and the Federal Reserve in the $4 trillion ... US Didn't Intervene in Currency Markets in Fourth Quarter Fed did not intervene in FX markets in Q4 - NY Fed |
Peterson's Lardy Says China's Growth Rate May Slow - Washington Post
Peterson's Lardy Says China's Growth Rate May Slow Washington Post ... economy and currency policy. Chinese Commerce Minister Chen Deming said yesterday exports probably fell in January after foreign trade slowed in the second half of last year, as he pledged to maintain "stability" in the yuan's exchange rate. |
NYSE Euronext Announces Fourth Quarter and Full-Year 2011 Financial Results - MarketWatch (press release)
NYSE Euronext Announces Fourth Quarter and Full-Year 2011 Financial Results MarketWatch (press release) For the full-year 2011, net revenue was $2672 million, an increase of $161 million, or 6% compared to $2511 million for full-year 2010 and included a $56 million positive impact from foreign currency fluctuations. The increase in net revenue compared ... |
Rupee falls on dollar buying; IIP data eyed - Economic Times
 The Hindu | Rupee falls on dollar buying; IIP data eyed Economic Times ... with traders eyeing the December industrial output data for directional cues on interest rates and growth. Some traders cited local companies' need to refinance some of their external commercial borrowings, especially foreign currency convertible ... Rupee drops to lowest level in over a week Rupee down on local shares; Greece hurts Rupee gains 5 paise against dollar |
'Draconian' Currency Ban Chokes Off Trading: Argentina Credit - San Francisco Chronicle
'Draconian' Currency Ban Chokes Off Trading: Argentina Credit San Francisco Chronicle 8 (Bloomberg) -- Trading in Argentina's foreign- exchange market is plunging to a five-year low, a sign that President Cristina Fernandez de Kirchner's push to suppress capital flight has been successful. Foreign-exchange volume in the Mercado Abierto ... |