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Chapter 1, Part II. What is a trading object in the FOREX market? - Q&A

Discussion in 'Complete Trading Education- Forex Military School' started by luciademoja, Jul 17, 2013.

  1. luciademoja

    luciademoja Recruit

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    Hej, it's me again :)
    This lesson was even more enlightening than the first one! Now I understand why USD is called "Buck" :D
    The only thing that I didn't get it's the concept of "equity", it's a little bit confusing for me! I'll go ahead with the other parts of Chapter 1 hoping to find an answer, but in the meantime I'll try to ask around something.
    It's hard to find out why if FOREX it's so easy it seems like no one do it! From yesterday I read a lot about FOREX in many forums and guides and all of them keep saying the same thing: you will make big money with low efforts! I don't know if I want to believe it, it smells like a big fake!
    Do you think that is better to buy some course and start trying some system sooner that I thought?
    Is there some dedicated area in this forum where I can do this kind of questions without being off topic? I have so many things to ask and I'll like to hear the answer from someone who talks about his personal experience! I'm walking through this jungle called "trading" and I'm a little scared about all the reassurance that I read about it in the sundry forums.
    By the way, thank you for posting this guide, it's very helpful and I hope it will be a valid base for me!
    I'm moving to the next part of the Chapter 1 now, see you!
     
    Saleh1980, fajrss, Nachoga and 4 others like this.
  2. Awoeyo GBENGA

    Awoeyo GBENGA Recruit

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    "If, for example, you see that EU economy does not show growth and looks like it is bad and getting worse, but Japan’s economy is behaving well and is improving- it seems logical to buy Yen for Euros."

    With the statement above,trading currency pair,EUR/JPY,which button is to be clicked on by the trader(BUY or SELL) on the broker's platform to act on the quoted statement?
    Kindly help me with answer to this question as I am always confused.
     
    Saleh1980, mverde2007 and Billy Pidu like this.
  3. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi,
    many things that you're talking about are true. We've specified right in the beginning that only 2-5% makes money. Of cause there are a lot of, lets call it "authorities" that use and offer different tools and procedures that are not forbidden legally, but they are pitfall from probability point of view. Very simple example - huge leverage at small account. But there are more complicated issues exist. From that point of view Forex could be treated as a big fake, but only for those who do not have habit to work, be diligent and dicipline. For others chance exist. It's just impossible to describe so big topic in small post. You may read topics, closer to the end of the course, dedicated to forex scam, managing your trading - journaling, treating it as business, leverage topic, and some others.


    Awoeyo, do not run ahead of train. If you do not know what button to press in this situation, may be you need a bit more knowledge before trading? If you will be a bit patient, you'll find very very detail answer in next chapters. ;)
     
  4. Billy Pidu

    Billy Pidu Recruit

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    FPA & Sive, thank you for the 4 pages of very helpful information on the trading object in the forex market. Wasn't clear at all to me until now. Much appreciated.
     
  5. szerencsi.zsolt

    szerencsi.zsolt Recruit

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    Thanks your resume Sive.
     
    Saleh1980 likes this.
  6. Hamza Samiullah

    Hamza Samiullah Corporal

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    Nice effort sive ... Greate..
     
  7. somebody with gun

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    Thanks for the explanations and for the funny pictures))
     
    fajrss likes this.

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