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What controls price movements at forex markets?

Well, people keep asking themselves this question. I believe the answer is a bit tricky because many factors can determine price movement. These factors ranges from interest rates to government policies. Economic statistics also play a significant role in market sentiment. But ultimately this all comes down to the good old fashion economic argument of demand and supply. Demand and supply forces determine whether you will trade short or long. If the demand is higher in other words buying pressure is high, the currency pair in question increase in value and vice versa. In a nutshell, a bullish trend means there is more buying than selling while a bearish trend means there are more sellers than buyers.

Currency pair of the week gbpusd

I must say that the week is an eventful one. I made some few loosing trades over the week., but I knew something is up because the USD has been loosing ground... I traded long on GBPUSD pair and I made about 172 pips.... Amazing. I believe the trend will continue next week, but even at that I closed the trade and locked in my profit....

Another way of staying ahead

Recently there has been a buzz on the issue of Nigerian presidential elections. Frankly I am not interested. What I am interested is that Nigeria survives and we all live in peace and harmony.

Enough said, I recently discovered that you can make some cool cash by just looking at a website... and actually you will see the money being credited to your account. They call it pay per click. the only downside of it is that unless you pay them a certain premium and upgrade you membership, it will take a lot of clicks to make something substantial....

If you want to know for your self, you can click on this link

http://be-mails.com/pages/index.php?refid=aliyubuk

Of course if you click on the link it means i referred you to the site and i take the credit... hey help me try it. i wanna see how it works... What do you think??? I think if you check and you are satisfied you will also try and refer others. PEACE  !!!

Why Forex????

The Forex market is so huge that mere traders like us cannot influence the market direction, unless you are Citigroup. well the foreign exchange market, which is usually known as "forex" or "FX," is the largest financial market in the world. Compared to the measly $74 billion a day volume of the New York Stock Exchange, the foreign exchange market looks absolutely ginormous with its $4 TRILLION a day trade volume. Forex rocks our socks! 

Its definitely worth exploring, I believe that even with the huge risks, there is a lot of oppotunity for beginners.

You can start by opening a demo account, use it to practice. Its free. 

You can learn more at: http://www.babypips.com/school

Forex money management Techniques

It is worth mentioning that people like to make money.... well I guess not all of us strive to make it. For those of us who strive to make it, some of us find themselves trading the FOREX market. Without any experience in such volatile market, you are bound to loose everything. The truth of the matter is that someone  somewhere always profits from your losses- I guess that's just how the market operates.

In this posting, I want to teach you the secret to money  management techniques. This Technique I am about to show you will keep you in the game.

1. ALWAYS USE STOP LOSS;  Its advisable to use a previous support as  stop loss.  

2. USE THE  2% PER TRADE RISK FORMULA :  i.e always make your losses  to stop at 2% of you total account on each trade.

3 IF YOU ARE NOT A PRO ALWAYS OPEN ONE TRADE : This will make it easier to manage risks.

I have more.... Please follow me  on my next post.