If you want to enjoy currency trading success then you need to fully understand the formula enclosed and the fact is most currency traders dont. The equation is the one for market movement and why prices move and here it is:
Fundamentals + Investor perception = Price
Nice and simple ...on the face of it yes but most traders dont understand it and if you believe any of the comments below you have not understood it correctly:
- I can make money predicting currency prices in advance.
- Day trading is a great way to make money.
- Markets move to a scientific theory as human nature is constant.
- I like to trade the news and listen to experts.
Do you believe any of the above? Then you do not understand the equation.
Firstly human nature is constant but does not move to a scientific theory as we are creatures of emotion not logic. We all have the same facts to look at - but we all draw subjective conclusions from what we see and millions of traders do this every day to create a price.
There is no scientific theory of course and if there were, we would all know the price in advance and there would be no market!
You cant predict forex prices - its simply another word for hoping or guessing and that wont reward you in any venture in life let alone forex trading.
Day trading doesnt work because the time span is to short and you cant predict what humans will do in a day or a few hours - you need more data.
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Finally the news wont help you as its the traders view of the news thats important - NOT the news itself.
Its a fact that markets tend to collapse when their most bullish and rally when their most bearish, so trading news stories is a mugs game. Great stories but no help in trading.
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Is simple use forex charts and trade the reality.
You dont need to predict you can see the price and act on when the event occurs. You dont need to follow the news because in todays world of instant communications all fundamentals are instantly discounted in the price.
Forex charts however give you something more - they tell you how the participants see the facts and help you study human psychology.
So you can study the fundamentals and human psychology all at the same time.
You can then spot high odds trades.
Its a fact that most price spikes caused by human psychology are temporary, prices eventually return to fair value and these spikes are easy to spot with a forex chart.
Forex charts allow you to trade the reality of price change.
You dont care how and why prices move you just want to enjoy currency trading success when they do.
If you understand the significance of the equation now, you can apply it to your forex education and start seeking some great currency profits.
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Currency Trading - This Equation is Vital to your Currency Trading Success!