Wow... Then you're a reasonably experienced trader. By the way, In forex my favorite pairs are EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD and XAGEUR.
Preorder Deutchesmarks too, they will be circulating in the not too distant future. Right now market is volatile due to the mess in Cyprus. Watch currencies that are dropping in the next few days and weeks and trade. Soon panic will cease and those currencies will be trading again at good value, then trade them off and profit.
From my point of view in forex trading, there are three things which are precisely important to follow: 1. Technical Analysis 2. Fundamental Analysis 3. Market Sentiment Technical Analysis can be applied to any financial market where one witnesses price movement on a regular basis. This has led to technical analysis being very widely used including the foreign exchange markets, the commodities markets, the metals market, stock markets etc. Although, prices are not merely a function of technical patterns but also reflect the basic underlying fundamental news and inputs which continually flow into the markets. And the point I feel, being able to gauge the market sentiment can be an important tool in your trading toolbox. All these three things can be indicated by your one term "TIMING". And patience also lies in market sentiment.
Yape. Definitely you're right partially. And you know it(currency exchange rate) depends not only at unemployment rate(your point is unemployment rate went down so U.S. economy were doing better and Canadian went up so doing worse then USDCAD rate would arise) but also at interest rate decision, GDP, Trade Balance, Inflation Reports{consumer price index and producer price index}, PMI, TIC Data etc (of both countries).
With No doubt Forex is better option if you know how to do it. and if you don't know then give your money to professional forex traders which are running investment pool. Warning : Must check their previous statements and how many pips they are making weekly. Mine are also almost same EURUSD (Safest pair), USDJPY (Nice to make short profits) GBPUSD & GBPJPY(quite risky but have good fluctuation) wow diva, you do fx also..nice to see you
@FreeFun4Every1 For me Forex trading is more of a hobby than anything else. I am interested in geopolitics so Forex seems like a natural fit for me. I am much more serious when it comes to the stock market. There I have risked *real* $$$. I bought shares into General Motors when everyone said they would be going bankrupt a few years back. (they were selling at their lowest price since the Korean war, almost free) Try to imagine what they are worth today!
@Diva - tht is real good move I had never tried on shares of Indian Stock exchange but know some basic. you had taken small risk because share price are almost free as you said and now it's $ 28.1 so if you had purchased 1000 in $1 then also you had made thousands of $$$ profit..Congratsss for tht I only trade in Forex and that is currencies only..for me also it's just thing of interest because it's some time headache for me to look at all news release and view Economy of every country Though technical analysis and my indicators works well and love to do that because it's fun
@Diva - yo miss millionaire I can imagine.. It will become more clear if you write number of share u have and ur buy price ..lolz
Nope..2 reasons. The first is that it would be tacky and classless. The second is that kind of info makes scammers hungry.
it all depends on how much you want to invest if its a small amount of cash like $1000 then yes, gold is a good hedge against inflation, and any other upside is a bonus or you could buy some good quality bluechip stocks when they are going cheap, if you dont know anything about stocks then best to avoid forex, is mostly speculation, avoid it unless you can afford to lose money
I beg to differ, Forex trading involves a lot of study and experience. If you understand basic economics and politics you can make profit. You also require disposable income and need to be prepared for the long haul. Some people make millions with Forex trading. Life itself is all speculation, and all business is a gamble at first.
you are absolutely right, i just believe for the first time investor with not much cash to invest its kinda risky
silver is better then gold... i dont like trade in gold, silver always rox, base metals are also good
Copper has been going up, up, and up (long term) without any stop for the last few years. The 30-60 day price has been down but it's going up again, this is the time to invest while the purchase price is good. Australia and Canada no longer make pennies. It was costing two cents to make a one cent penny because of the rising cost of the metal. Copper is an investment where you really can't lose if you have the $$$ to start with it.