As I promised, this article I open the section Forex for beginners
These are my 3 main forex rules: 1 Theory – 2 Psychology – 3 Practice
Theory –you need to know about World Economy. Of course, I’m not suggesting reserved Dissertation on the subject. I recommended, sometimes listen to the news on channel Bloomberg, read economic news in newspapers and magazines, on the Internet. This will give you a general idea about the fundamental currency analysis market.
Now, Start of the replenishment of our economic knowledge.
Book of Hendrik S. Houthakker and Peter J. Williamson – The Economics of Financial Markets
|| The book presents the basic economic concepts underlying the daily activities in the financial markets, such as stock price or currency movements, and tries to explain the relationship between them. It briefly introduces the choice under uncertainty, risk aversion, the problem of portfolio optimization, efficient market hypothesis and the equilibrium in asset markets.
The purpose of this book was to provide a solid introduction and review of the financial economy and the financial institutions. Authors brilliant success of these goals. Most people with limited training in economics and mathematics should be able to understand the book.
This book teaches basic financial principles as the link between risk and return, CAPM, efficient market hypothesis, and the option price. I hope this book will help deter some of them, hoping to find a “get rich quick” method of investment that consistently “beating the market” is not possible in the long term.
It is self-contained and readable. However, if you wish to continue the ground understanding of these theories, you must go further.
2 Psychology – is difficult. You need to be changes in the structure of your personality.It takes a lot of time. This Extensive theme. We will return to it. Later, you will see on the practical importance of the ability to manage emotions at work on forex. This game – play rules
And finally, 3 Practice.
Offer not think long before you start to “play in Forex” This is just a metaphor, I hope you understand. This will be an educational game named MetaTrader.
I recommend to start as I am. On the sites of major brokers fxdd.com or forex.com you can open a demo account and get the metatrader multi languages computer program. It is simple: open a demo account, download and install computer program. Of course, at first not quite clear what the connection between the global economy and the beautiful different colored lines. Understanding will come later. MetaTrader – PC program that runs on your computer – platform where we see the market moving.
Here are main forex rules – my forex 123 play rules. On really, this is a hard work, but it brings me great pleasure and on the process and the results. I hope you, too