Hey all
My name is Ricky I live in Wollongong in beautiful Australia. I’ve been slowly trying to study the market but its really easy to get confused when I don’t quite understand all the terminology. I’m really looking forward to going through this school, chatting to everyone and learning what I can.
Hey Ricky, what going on, welcome…
First thing you should do is figure out what you want from the Forex. Many new people getting into the Forex get easily swamped and confused by the wide knowledge base about this market because they arent sure which one is suited for them.
This is why you should have a framework of what you want to achieve.
[B]1. How much you want to earn from Forex?
- How frequently you can trade (do you have full time job etc.)
[/B]
This will allow you to choose which strategies are relevant to your goals and situation.
Day Trading is your choice if you have a lot of time, but Swing Trading is ideal if you have a job.
Swing Trading goes after large targets with less trading
Day Trading goes after multiple trades in one trend
Some of the strategies/terminology youll see are more relevant to Day Trading, some to Swing Trading, so its very important to know which will meet your needs.
Check out my threads on Swing Trading for my take on it.
Good luck
[B]
Duane
DRFXSWINGTRADING[/B]
Hey DRFXTRADING
Thanks for the advise. Yes i do have a fulltime job so I think Swing Trading would be the best. But looking towards the future I love to do this fulltime.
Hello, Ricky, welcome to the forum!