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Drawbacks for Forex beginners
from:Starting fresh in anything is going to have its problems, due to the lack of experience one has to draw on. As much of a natural talent as you may have for something, you will from time to time be faced with problems that you feel you are unable to deal with. One has only to look at the world of sport to see how often brilliantly talented youths are beaten by less talented experienced professionals, who know how to use a situation to their advantage on account of having faced that situation, analysed it and developed a way to deal with it. This is mirrored in life, and in situations such as the Forex market.
One thing that separates novices from experienced traders is how they react to occasionally confusing market data. When confronted with results that one does not expect, it is easy to take an inaccurate or imperfect interpretation of that data and act based on that. When you face a situation for the first time, you are in a position where you have to rely on your own impression, with nothing concrete to base it on beyond what you hear from others. It would be naïve to expect other people to always steer you the right way in an environment that rewards you more if fewer people get it right.
For this reason it is always best to have a “dry run” at Forex or any other market – whether by a “Fantasy Forex” game or with a small initial stake. This way you learn from your mistakes without having to pay too much for them.
Forex Options News
Forex options hint yen is set to drop, report says
HONG KONG (MarketWatch) -- Trends in currency futures and options transactions suggest the Japanese yen may be facing selling pressure in the near future, according to a Nikkei newspaper report Tuesday. The report cited data showing the currency has been trading in a tight range against the U.S. dollar in January, recently moving between the upper ¥76 level and the lower ¥77 range. "Right now ...
Read more...USDJPY Options Traders Bet on Reversal - Bottoming?
Forex options traders are their most bullish the US Dollar (ticker: USDOLLAR ) against the Japanese Yen since at least 2003, warning that the USDJPY may set an important bottom and trade higher through 2012.
Read more...Average daily UK forex turnover slips - Bank
LONDON (Reuters) - The average daily turnover in UK foreign exchange markets fell in the six months to October, driven by a drop in FX swaps and options activity, a Bank of England survey showed on Monday. ...
Read more...Average daily UK forex turnover slips-BOE
LONDON, Feb 6 (Reuters) - The average daily turnoverin UK foreign exchange markets fell in the six months toOctober, driven by a drop in FX swaps and options activity, aBank of England survey showed on ...
Read more...US Dollar Eyes Further Lows as Forex Volatility Tumbles
US Dollar Eyes Further Lows as Forex Volatility Tumbles
Read more...FOREX-Euro drops as Greece delays debt deal approval
(Updates prices, adds quotes, links and graphics, changesbyline) * Greece delays bailout talks while Merkel demands action * Euro seen vulnerable to testing back below $1.30 * IMF chief economist expects ...
Read more...FOREX-Euro dips as Greece delays debt deal approval
(Updates prices, adds quotes) * Greece delays bailout talks while Merkel demands action * Euro seen vulnerable to testing back below $1.30 * IMF chief economist expects substantial Greek 'haircut' NEW ...
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