Forex is basically know as foreign exhange market. It is the trading of currency pairs. For example you can buy a currency pair like USD/JYP if you favour USD or sell if you are against USD. Simply the basic knowledge is buy low sell high vis versa.
Forex trading is actually quite new to the public. Intially it was not traded by the public because 100K USD is required in order to trade 1 lot in forex. Therefore it is normally traded by banks.
The introduction of margin(leavage) made it possible for the public to trade forex. For example a margin of 1:100 meaning you can use 1k USD to trade 100K USD of currency.
To most people, trading forex is known as the most dangerous and risky investment. Why is it so? Because in forex, using margin you dont have the holding power.
Tuesday, March 31, 2009
Monday, March 30, 2009
Hi my name is kel
Hi, my name is Kelvin.
I started forex in 2008 nov/dec. During that period, I was working as a intern business analyst in JPMorgan.
Due to the econmical downturn, i couldnt find a job after my internship therefore i started full time in trading forex on 2009 Jan.
I had took up a forex course. The course teaches trend trading and some of the basic in forex.
On jan, trend trading had been very successful. With only a capital of USD 5K, i earn a total of USD 4k in Jan. Unexpectly, trending trading had fail badly for the pass 2 month, feb and march.
I lost a total of 1.5k on FEB. Therefore i decided that i should enrich myself with more forex knowledge.
Currently i am trying to survive on the month of march. I made a total of 6k and lost a total of 4k as i tried number of new strategies.
I will be posting all my P/L here, and also put my thoughts and comment on each trade and month.
I started forex in 2008 nov/dec. During that period, I was working as a intern business analyst in JPMorgan.
Due to the econmical downturn, i couldnt find a job after my internship therefore i started full time in trading forex on 2009 Jan.
I had took up a forex course. The course teaches trend trading and some of the basic in forex.
On jan, trend trading had been very successful. With only a capital of USD 5K, i earn a total of USD 4k in Jan. Unexpectly, trending trading had fail badly for the pass 2 month, feb and march.
I lost a total of 1.5k on FEB. Therefore i decided that i should enrich myself with more forex knowledge.
Currently i am trying to survive on the month of march. I made a total of 6k and lost a total of 4k as i tried number of new strategies.
I will be posting all my P/L here, and also put my thoughts and comment on each trade and month.
Subscribe to:
Posts (Atom)