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A typical conversation with a ‚Wannabee’ pro trader goes like this:
Me: Soooo, what’re you doing?
Wannabee: I’m gambling on forex ????
Hahaha… no.
This statement is apparently innocent and most Wannabees tell it as some sort of a joke, but the truth is – it’s a dangerous one. Do you know why? Because it shapes your actions. Yes, the way you think and talk about yourself shapes your actions.Have you ever talked to a professional trader? If you ask one what does he do on forex, he will tell you:I’m making money.Notice the difference? He is totally aware of the risk and he knows he’s gonna lose some money in the process, but, he still states that he earns money. You will never hear him calling himself a loser.There’s a reason to why professional traders make money on Forex – experience, good trading methodology, good risk management etc, etc. But there’s also one factor that usually slips away unnoticed.
Have you ever talked to a professional trader? If you ask one what does he do on forex, he will tell you:
I’m making money.
Notice the difference? He is totally aware of the risk and he knows he’s gonna lose some money in the process, but, he still states that he earns money. You will…
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gargantua avatar
gargantua 21 Apr.

very interesting

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13/57
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"You have now reached infatuation's final destination—the complete and merciless devaluation of self." -- Elizabeth Gilbert
The above quote may be from Ms. Gilbert's memoir "Eat, Pray, Love" on the subject of spirituality and romance, but it best describes the value and strength of the currencies discussed in this article. Without further ado, the following five currencies make our list of the least valued currencies of this century, with old price quotes and charts dating back only to 1996 when we saw the first generation of Forex online trading platforms available for retail Forex traders via the internet.
Please note, that many other currencies that may have topped or equally been worthy enough to be mentioned here has at some point during the past two decades denominated their currency to reduce the unwieldiness of its old value. Also, more emphasis has been given over each nation's current GDP data ranking among all of the present 187 International Monetary Fund (IMF) members.
#1: Uzbekistani Som
Estimated GDP: 187,947 millions of international$ , RANK: 62/187

One US dollar was equal to 40.00 UZS on the 1st January of 1996 and since it has gained 7487% to an unimaginable excha…
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valeryfedorova avatar

Very good job!

brilliant avatar
brilliant 18 Sep.

nice article nice photoes

Chaudhry77 avatar
Chaudhry77 19 Sep.

nice article and good work

AAARated avatar
AAARated 20 Sep.

nice article and Zimbabwe's new 100 trillion dollar bill would be worth about $300 in U.S

Mani avatar
Mani 14 Oct.

cool

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30/51
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EURUSD First Chart Weekly; Second Chart Daily: Last Bar: 22-02-2013. EU almost closed unchanged on Friday after testing 1.3250 resistance level and 1.3150 support level. ON DAILY CHART:An ascending bullish trendline had been broken (on 21-02-2013), however, after the break the pair had respected the support level and other cluster of supports (100 SMA, 50% fib level, 15 EMA on weekly and monthly chart). EU is capped by a descending bearish trendline. This month had been bearish for EU so far, however, we have 1 more week to go before the month ends.The last 6 month has been bullish for EU. There is still a strong bullish momentum on weekly chart, however, that momentum is limited because there are not enough buyers left (The cycle on the monthly chart is high and is turning down). ON THE WEEKLY CHARTThere has been a validated inverse head and shoulder pattern on weekly chart and the pair is now trying to put in the first tradable wave low. If it breaks above 1.37110 it is likely it would go up to the projected head and shoulder target (1.42400). Switching back to daily chart, If the descending trendline that is capping this pair as bearish is broken, we may see EU trade higher to t…
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SpecialFX avatar
SpecialFX 26 Feb.

"Italian elections this week (Feb 25) should move this market." They sure are moving the market. When events like this happen all technical setups lose all importance, good article though :)

doctortyby avatar
doctortyby 28 Feb.

Italian ellections indeed have moved the market this week... well not quite... moreover the Speculators have profited on the fundamentals and the lack of a clear coalition between the parties. Monday was a speculation day, and no technical levels did hold or were respected especially on JPY pairs, record amplitude bearish daily candle in those pairs. And from Tuesday till Today the money stayed out of the market so the technical levels still didn't matter... only some SLs from the Order Flow Book were triggered and provided confirmation. PS: 5 Years in FX and you still use MACD and Stochs? :)

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18/28
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FUNDAMENTAL MOVEMENT , RULES SHORT VIEV As i see many traders have a little troubled too read when forex market does not move according to purely technical rules , when is fundamental movement activated. So i decided to bring this fundamental principles , and will try to shed light on the time and period that can be expected. Briefly and succinctly as possible clearly show these issues using simple words too evryone , even beginner would be able catch point . Fundamental rules give us - they say , are designed - such a way that the value of money is closley correlated with supply and demand of the currency - a simple an explanation saying value of money fall when we have it a lot on market economy and they not are invested , in inverse proportion when little or not enough on market . For example when market of country has large amounts free money or extra pumped (print-QE)value of this currency will fall and thing will be analogous to inflation , vice versa when money a little available in market and know they invested - value should be grow up.Based on example of last period , reprint us dolars - we hear form many sides call them cheap cash , loses its value through cos not genera…
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Likerty avatar
Likerty 6 Nov.

In my opinion fundamentals are ust too complex for everage folk to understand - it is a bit simplier with techs as these come in exact numbers..

SpecialFX avatar

I think one of the reasons most retail traders do not care about fundamentals is because they focus on very short term trading, where fundamentals are mostly irrelevant. But it is always good to know the inner workings of the market (and fundamentals are what ultimately move the markets, no matter what the technical indicators or patterns indicate), so even if people do not open trades based on fundamentals, they should still pay some attention to them :)

doctortyby avatar
doctortyby 26 Nov.

Fundamentals combined from US and Eurozone show the main possible market movers in the near future : US Fiscal Cliff, Greece Bailout, possible Spain Bailout request, eurozone Budget.

WallStreetBlog avatar

good article!!!

xtrader360 avatar
xtrader360 16 July

good article

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