please I want to know more about forex. I want to participate in trading activities of foreign exchange?
I want to know how to participate in trading activities of foreign exchange currencies stock and shares via internet.
Why dont you sign up for a practice account (www.forex.com). A representative will call you and you can ask them questions.
More novice traders try to catch trends in daily time frames than any other method however, this method of trend following is doomed to failure.
Fact: The data within a day is totally unreliable and support and resistance levels are meaningless. Volatility can and does, take prices anywhere and all daily movements are random.
You can’t get the odds in your favour and you can’t win – PERIOD
There are countless millions of traders, trading trillions of dollars daily and it’s laughable to think that you can trade in such a short term time frame and win.
So why do so many traders try it?
Well, it’s a good story and many vendors appeal to the greed and naivety of investors and try and sell them forex trading systems or courses, but they don’t trade them! They make money from selling their product – they win by selling their product and the trader loses in the market.
Don’t fall for the myth of Forex day trading!
Keep in mind: You are guaranteed to lose, as you can never get the odds in your favour.
Swing trading is perhaps the easiest way for novice forex traders to learn a Forex trading system. The aim is to catch reactions in major trends which normally last a few days to a week.
Swing trading has the advantage of there are plenty of trades to go for and you know if you are right or wrong quickly. Forex swing trading is easy psychologically, as you have obvious stop levels, small loses and profits are generally banked quickly.
The key to successful swing trading is to spot valid areas of support and resistance and then use momentum indicators, to execute trading signals in line with shifts in price momentum. For example, traders would wait for a test of support and for price momentum to turn up away from support and then trade to the long side.
The key with swing trading is always to CONFIRM With momentum indicators – before executing a trading signal.
EVER simply hope a level will hold or try and predict as you will lose.
Advantages: Easy to learn, its fun, there are lots of trades, it can be very profitable and it’s easy psychologically.
Keep In Mind: Make sure you don’t just guess or hope with swing trading and you use momentum indicators to confirm your trading signals.
Long Term Trend Following
The most lucrative form of trading and also the toughest way to trade.
If you look at Forex trends you will very often see trends that last for months or even years yet, very few traders have the mental discipline to hold these trends and milk them for all they’re worth.
Forex trend following requires patience, to wait for and enter these trends when the risk/ reward is at its best and then have the mental discipline to follow them.
Why is it so hard to do?
Because most traders are not mentally prepared to accept big gains.
The above may sound odd – as surely all forex want big gains?
The answer is yes they do, but accepting them is another matter.
The problem is – if money is important to you (as it is to most traders) then counter trend moves, which eat into your open equity, can tempt you to bank a profit early.
Most traders get excited when they get a profit and the bigger it gets the more tempted they are to take it, before it gets away. As volatility eats into open equity the temptation becomes too great for most traders and they bank early.
They end up taking an average profit or mediocre one, when they could have had a huge one.
If you are long term trend following you need the courage of your conviction and tremendous mental discipline to ignore counter trend swings and keep your eyes on the bigger prize.
Forex trend following is tough mentally but the rewards are immense, if it is done correctly and you have the right mindset.
Advantages: You can make huge profits!
Keep in mind: You need to be patient when timing entry levels and you also need to be able to psychologically handle short term severe dips in open equity. You need to keep your eyes focused on the end prize – not the short term swings against you. It’s not easy to do but very lucrative.
New Trends & Turning Points
It is the dream of most traders to be able to catch important market tops and bottoms.
Catching these turning points offers low risk and high rewards, as you are in at the stat of a new trend and these turning points normally see profits piled up quickly.
Catching turning points is satisfying, very profitable and its not has hard to do as many traders think.
If you use sentiment tools such as % bullish and Net Traders Positions, you will with a little practice, be able to spot these turning points forming. Then you can time entry with on your forex charts.
The key is to WAIT for clear confirmation of a trend change – before getting on board.
These moves don’t come around very often but if you look out for them, they will give you some great profits coupled with low risk.
Advantages: Great risk to reward, it’s a lot easier to do than many traders think and it gets you in at the start of big trends which, normally see big profits emerge quickly.
Keep in mind: You need to be careful in timing your entry and enter at the right time furthermore; these trades only come around a few times a year, so you have to be patient and wait for the right opportunities
What colour best represents my views on the economy?
My views on the economy:
•The economy must be run democratically, so that all the people have a say rather than strictly the hands of the few. The economy must also have integrity or an ethical core, no economic or business decision is to be made without raising the question of integrity of ethics.
•As Franklin D. Roosevelt said in his second Bill of Rights “true individual freedom cannot exist without economic security and independence”. All citizens need the right to jobs, income, and economic security and, at the same time, independence. Poverty and crimes caused by poverty are caused by economic deprivation and inequality. Monopolies must not be allowed to occur, and the economy must be regulated to ensure that monopolies do not occur.
•The rich must give whatever they can to the community, which must then distribute that contribution to the poor based on what they need.
•It’s so sad that something as simple as water is bottled up as a consumer product. It’s also sad that basic resources are branded as consumer products.
•I agree with Jacque Fresco’s resource-based economy.
•I think that extremely wealthy corporations need to act socially responsible and contribute to society.
•Whatever economic system is put in place, free market or state regulated, it should not inhibit freedom and individual rights of any individual and it should try to work for the good of the people and not just for itself.
•Corporations that take resources out of other countries must pay the people of said countries, thereby the people of a country should benefit from their country’s resources. Land rights should belong to the people. The resources of a country should be used to help the people of said country.
What colour goes best with these views? Animal to go with it optional.
I’m asking again because the answers didn’t seem right.
I like your views, but your suggestions are still victim to interpretation. Ie:
1) “The economy must be run democratically”
The economy is just the stats we use to track trade (buying, selling, borrowing, etc). How are stats run democratically? Perhaps I just don’t understand the question.
2) “The economy must also have integrity or an ethical core”
Who defines “integrity” and what makes some actions “ethical” and others not?
3) “All citizens need the right to jobs, income, and economic security and, at the same time, independence”
In our current economic model, everyone needs a job and income, but no employer can be forced to higher a particular person. Who defines why “economic security” means? I’m not sure how independence fits with the other nouns in this sentence.
Instead, I suggest simplifying it. All persons have the right to a home, clothes, food, education, medical care, and some kind of entertainment. Notice “money” and “job” and “income” are not in the list. Money just facilitates acquiring what we need (the things in the list).
4) “Monopolies must not be allowed to occur, and the economy must be regulated to ensure that monopolies do not occur.”
The nature of capitalism is the struggle for corporations to become monopolies. Attempting regulations to prevent monopolies changes capitalism into totalitarianism.
Instead, perhaps the question is, how can we have an successful sustainable economy that is not capitalism.
5) “The rich must give whatever they can to the community”
The rich already “give whatever they can”. This is way too subjective. Many people, especially the rich, donate whatever they think they can. Really, can they donate more? Of course. It’s impossible to define “whatever they can”. This would lead to no change from our present system.
6) “extremely wealthy corporations need to act socially responsible and contribute to society”
Like (5), leaders of corporations already believe they are acting socially and contributing to society: They are providing the goods and services society needs, are employing people in their local communities, are doing some charitable donations, etc.
There is no way to define in black and white (without allowing subjective interpretation, resulting in holes people/corporations can worm through) what “acting socially responsible and contributing to society” means.
7) “Whatever economic system is put in place, it should not inhibit freedom and individual rights of any individual and it should try to work for the good of the people and not just for itself”
Don’t use the word “should” in recommendations. “Should” implies that the recommendations don’t have to be followed or cannot always be followed.
8) “Corporations that take resources out of other countries must pay the people of said countries”
They already do this, but the money doesn’t go directly to the people. The money goes to governments and other corporations that control those resources. There is no way for the money to go directly to individual people. Someone always has to receive it and decide how it should be distributed. This power inevitably leads to favouritism and corruption.
9) “Land rights should belong to the people. The resources of a country should be used to help the people of said country.”
Amen. And, if I may add, “Those resources can only be used if they can be managed in a sustainable manner for all people, living today, and future generations.”
I like your general views, but the details in your recommendations would result in no changes from our current economy.
Instead, consider if a new kind of economy is possible: An economy that doesn’t depend on money. Is it possible for an economy that provides for the needs of everyone, and can do so in a manner that protects the planet’s resources? An economy that doesn’t force people to work at meaningless jobs they don’t like? An economy that has does not allow fallible humans to act as leaders?
An economy that embraces science and uses only our latest understandings and technologies?
Surely this would be a gold-coloured view.
How would you describe the problem of prison overcrowding in the US?
How serious is this problem and what are some solutions to prison overcrowding that have been implemented? Has it been it successful?
Some solutions are:
-They cut funding to prisoners so that they’re no longer able to get a degree or learn a trade while in prison (this was in the 60s and 70s), which ironically makes these people more likely to return to prison.
-They let people out early for “good behavior”…Looks like the sentence the impartial judge or jury gave him wasn’t true justice, after all. Remember, they wouldn’t have been in prison if they were behaving properly in the first place.
Neither of these has been successful in my opinion. Our prison system needs a massive overhaul and a serious re-working.
However, the problem isn’t the prison administrators or directors; it’s our politicians. In the 1980s Ronald Reagan cut state funding for mental hospitals and closed most of them. Homeless rates skyrocketed….and guess where these poor souls wound up if they live on the streets? You guessed it. Prison.
After all, isn’t guaranteed food and shelter a better deal than constantly worrying about death and living in fear on the streets? I know I’d rather be in jail.
What classes to take at community colleges to become a baker/ pastry chef?
I’m Going to a community college, not sure where yet. But I know I want to be a baker/ pastry chef. What classes do I need to do that? I am planning to go to a uc or trade school after. Please help, thank you
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What do you think is wrong with my idea for education reform?
Let’s say we abolish public high school and leave all schooling above grade 8 to the private sector. This way bright students can demonstrate they are smart and work hard in k-8 so they can get scholarships to private schools. Therefore even kids who parents can’t afford to pay but are smart and work hard can get better educations.
Those who aren’t smart enough to get scholarships and whose parents can’t afford to send them anyway can go to trade schools are enter apprenticeships.
That way; society is arranged as a pure meritocracy.
What about kids that aren’t smart, but whose parents can afford the higher education?
It’s still not a meritocracy, and what you are saying doesn’t make sense anyway, one of the biggest problems with our current education system is when we put kids in school:
The problem is that there are perfectly fine students in high school that are not mature enough and/or don’t see the importance of school and therefore goof off and then drop out or don’t go to college. If this person were to go back later after they had matured, they might be successful, but we basically put a person’s life in the control of their teenage selfs. So your solution is to pass the responsibility to an even younger person, now junior high kids have to make decisions: to take school seriously or to goof off, when their in junior high.
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