TRADING THE DAILY CHARTS

Due to restricted time and Internet connection that I have now, I have opted to trading using the daily charts.Its not as aggressive and thrilling as trading on the shorter time frame but the result is about the same minus the headache. I'm beginning to like daily trading. I need to make decision once in a while and the rest of the time I just hold my position.On a daily chart, the candlestick is much easier to read and pattern is much clearer. On 13th August I opened 3 position. 2 of which is still holding while 1 has been closed. At the moment all position are in profit.Daily trading is not for everyone. It took me sometime to adjust on the requirements of daily trading, but once you are there you never look back.Till next time, good luck everyone

FOREX EDUCATION

Special Forex Education Reports
Special Forex Education ReportsI have just completed 2 special reports that are now available on my website. A lot of you readers seem to enjoy when I am ranting and raving about the global economy and how it relates to forex and trading.Well I have taken those topics and created 2 FREE editorials.Special Report #1: The Perfect Economic StormAbout the coming change to the global economy and steps we can take today to be prepared to not only survive, but to prosper!Special Report #2: Forex and Your RetirementDiscusses why you should consider honing your forex education skills now and deploy FX trading to expand your portfolio well beyond your retirement date.Just follow the link to FX Trade Central and sign up for our
FREE FOREX NEWSLETTER and you will be included in the mailing for these revealing reports!Happy Trading!

THE WORKING OF FOREX

FOREX is not centered at one place like the NYSE. The specific hours for FOREX trade are 24 hours a day from Sunday afternoon to Friday afternoon. FOREX transactions can take place at almost any time, anywhere, all over the world. There are FOREX dealers in almost all of the time zones, and it is simple to find them. Many dealers can be found online. All an investor does is decide what currency he or she wants to purchase, contact the dealer, and then makes the purchase. Many investors purchase using a credit line (money they do not have). This is called marginal trading.What is Marginal Trading?Marginal trading is a term used for trading with borrowed capital. FOREX investments can be made without actually having the money. All an investor needs to do is borrow the money for a certain currency. The investor wants to choose a currency that will increase in value quite rapidly. Once the currency increases, the investor pays back the money he or she borrowed and makes sheer profit. This is a high-risk investment, but the rewards are great (as with most high risk investments).Two Types of FOREX AnalyticsFOREX traders often have to analyze the market. Like all investments, FOREX involves a certain amount of calculated risk. Two ways to calculate these risks are though Technical Analysis and Fundamental Analysis.Technical Analysis is based on the idea that trends through history will continue. A FOREX investor will notice that a certain currency is very strong and seems to be rising at a normal rate. The same investor will also suppose that the currency will not decline in value, and will continue to rise, as it has done in the past. The investor then purchases a large amount of that currency and expects to make a profit. This investment entails a large assumption but is relatively safe.Fundamental Analysis is an analysis of an entire countries situation. Investors utilizing this technique look at the situation of the country in which the currency finds its base. Factors such as the countries economic status, political status, and global status are taken into account. For example, a Fundamental Analysis investor would not invest in currency from a country that just overthrew its leader and is in political shambles. Although this investment seems logical, it does not take into account one of the fundamental elements of FOREX trading. FOREX currency values are largely determined by the investors. That being said, Fundamental Analysis assumes that other FOREX traders will view a countries situation in the same way and respond accordingly.