February 23, 2012 |
Polaris - FX Currency Training
Trading currencies is an art rather than a science.
The decision process leading to the buying or selling of a currency is based upon:
• Fundamental analysis, analysis of a country and its currency based on a number of economic and financial indicators
• Chart analysis, analysis of a currency based on a number of patterns and charts
• Market analysis, analysis of foreign exchange market developments, news releases and current events
After a series of trials and errors, every currency trader will have to adopt his/her own trading method, based on each individual's appreciation of risk appetite, psychological profile (which trader are you ?) and own motivations.
Before trading any currency, knowing the classification of currencies is important, namely:
By Type:
» The 7 Majors, all linked to the USD (EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, NZD/USD)
» The Crosses (all the 27 others)
» Safe Heaven (favored in times of economic recession): USD and JPY
» Risky (favored in times of economic expansion): EUR, GBP, AUD, NZD, CAD
In order to be successful, a currency trader has to be extremely disciplined.
In addition to his/her own trading method, it is essential for the currency trader to have a trading system and a risk management system in place:
TRADING SYSTEM
1. Entry Points: Long (Buy) or Short (Sell)
2. Exit Points
3. Stop Loss
4. Time Frame
RISK MANAGEMENT
1. Size of Stop Loss
2. % of Risk per Trade
3. Position Size
4. Reward to Risk Ratio (1:1 or 1:2)
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In a two weeks intensive currency trading training course held in Bangkok (Thailand), Polaris Training Institute will:
» Teach you the basics of currency trading (fundamental, chart and market analyses),
» Equip with you with a successful trading method,
» Help you devise your own trading and risk management systems,
»Have you to open a demonstration account via FXCM UK in order to match theory and live practice and to trade currencies live
Training courses of a shorter time period are available on demand.
For further information, please contact us.
Risk Disclaimer
Any opinions expressed by representatives of Polaris Training Institute (Bangkok) as to the future direction of prices of specific currencies are purely opinions, do not necessarily represent the opinion of Polaris Training Institute (Bangkok), and are not guaranteed in any way. In no event shall Polaris Training Institute (Bangkok) have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided verbally or via the Internet, or any delays, inaccuracies, errors in, or omissions of information.
Online foreign exchange currency trading carries a high degree of risk to your capital and it is possible to lose your entire investment. Only speculate with money if you can afford to lose. Forex trading may not be suitable for all investors, therefore ensure you fully understand the risks involved, and seek independent advice if necessary.