Where is the Market Going - forex trading apprentice

Where is the Market Going ~ forex trading apprentice

Where is the Market Going?

If you ask me whether the market will have moved up or down by this time next year, well I may as well flip a coin, because I don’t know.

If you ask me whether the market will have moved up or down by this time next month, well again, I may as well flip a coin, because I still don’t know.

If you ask me whether the market will have moved up or down by this time next week, AGAIN, I may as well flip a coin, because I don’t know.

And if you ask me whether the market will have moved up or down by this time tomorrow, I am sorry, but I JUST DON’T KNOW!

But? if you ask me whether the market will move up or down in next few minutes, well I will have a definite opinion. Why? Because if I can see the CURRENT state of buying and selling in the market NOW, then I can make a reasoned and fairly accurate estimate of what the market will do in the next few minutes and moments.

My prediction will not be based on some secret formula; it will not be based on some esoteric sounding indicator, nor on some complex mathematical equation. No, it will be based on my evaluation of the current state of supply and demand.

Predicting the long-term movements of the markets is a guessing game. All we have to go on is the past; all we can reasonably do is assume that what has happened in the past will continue to happen in the future. Basically that is what trend following is, making the assumption that the past equals the future.

In my trading world, the only law that works is that of supply and demand: if there are more buyers than sellers then the market will go up; and if there are more sellers than buyers the market will go down.

It matters not one iota the whys and wherefores of the buyers and the sellers. It does not matter that a trader has chosen to sell now because the 9 period moving average has crossed the 14 period; or because he has just lost his shirt; or because he is taking a profit; or because he is just plain bored.

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Reasons why every kenyan forex trader must demo trade before going live - free demo forex trading account india

Reasons why every kenyan forex trader must demo trade before going live ~ free demo forex trading account india

After reading the whole of this article it is my hope that you will get a forex trading practice account  . You could access any of them by clicking on the underlined links. 
 I do not know how you learnt how to ride a bicycle or how to swim but I can certainly bet my neck that it was not by reading some how to book or manual. You took the bicycle and fell to the ground a couple of times until you at last learnt how to ride. You threw yourself into the pool until you understood or mastered what a back stroke or butterfly move implies. You learnt by doing.

Now of course you did not throw yourself into the deeper end of the pool on your first swimming lesson. You could have ended up dead. Demo trading is like your first swimming lesson- from that moment when you dived into the shallow end of the pool. Those that begin trading live without testing their skills on a demo account can be compared to a person that dives into the deep end of the pool on their first swimming lesson. Live trading without demo trading is either a manifest of ignorance or too much adrenaline rush that creates false confidence. And whereas there is a possibility that a first time swimmer could be saved by the presence of a life saver, the forex sphere has no life saver and you are in it alone.

Similarly, you probably trained how to ride a bicycle on a three cycle. The bonus wheel was there as a safeguard- to prevent you from constant fall and injury. Okay, you may brag that for you the training was with a real bicycle, but I’m certain that you did not learn how to ride that bicycle on a superhighway. You probably secluded your rides to some walkway or path rarely frequented by cars. That is the case with demo trading. It provides you with safeguards just like the three wheeled bicycle. The safeguard is the virtual money in your trading account. Its loss does not make you starve or broke yet the more you gain of the virtual money the more your confidence grows.

Be it learning how to swim or ride a bicycle, you did not become good at it in a day or two. You put in countless hours until you neared perfection. Perfection cannot be achieved in totality, that’s why there exists such a phrase like “room for improvement”. You had a goal and a singularity of purpose and after weeks of training when you could finally ride safely on a superhighway or dive into the deep end of the pool without the help of the life saver, you rejoiced. Learning how to trade forex involves a similar path- get into the habit of practicing with a demo account until that moment when you feel that you can now trade with real money.

If you are not good with a demo account do not deceive yourself into believing that you will fair well when handling real money. You will have yourself to blame if within a week or two you are back to refunding your account. That is one of the most annoying things for any forex trader. Go ahead and apply for a demo account. It is the best way to learn how to trade the markets.

You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 

Call us today on 0725 050 419 for the best forex trading orientation.

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