FOREX Trading

FOREX Trading
Is out there for quite some time.
And still it’s not going anywhere. One of the main questions that’s people ask before putting their foot in the FOREX market — “Is FOREX market analysing different than regular stocks? “
In my opinion and again – it’s just an opinion ‘FOREX, shares, commodities, indices, ETF’s –it’s all the same especially from the technical point of view.
Stock market have several analysis method such as fundamental and technical analysis, human sociology and in addition a long list of rules for the trader.
To trade wisely and earn money you need to work hard, and I mean really hard. But at the end of the road there is potential for unlimited profits, but course you can always loose as well…
In my opinion there are several keys to success (that I wish someone had told me about them a few years back…)

1. Analyse with both – technical and fundamental techniques. – It’s always better to have a wide range of information and opinions.
2. Technical analysis – don’t use too many indicators, it’s always good to look at a clean bars/candle sticks graph, and get a clear view on the market behaviour.
3. Long term — start from years back, go back as much as you can. Look at monthly point of view and then keep going to weekly and daily time frame.
4. Avoid short term trading. (Less than daily bars.)
5. Get a good professional trading platform, with 24 hours support, seminars and most important low commission per trade.
6. Money management- don’t bet on more than 3- 5% of your capital at a single trade.
7. Compare – you trade on FOREX market with EUR/USD ? So take a look at EUR/GBP as well, think that google worth buying? Take a look if apple’s looks OK too before investing.