Watching more than just forex pairs?

Beginner Questions
1

Hi ive been learnign how to trade forex for about a year, and ive still got alot to learn!

it seems just watching the forex pairs isnt really enough…

seems everybody else is watching the stock market also, and how it effects the moves on the forex pairs.

id liek to do the same but i dont really understand how or what i should be looking for, so im hoping somebody expereinced can help please?

i know i should eb watchign:

commodites like: crude oil, gold, copper, wheat

futures: s&p500, nasdaq, dow

but i have also seen “equities” mentioned and then seen the same names mentioned…s&p500, nasdaq, dow?!

this is when i get confused! why are they both under futures and equites…are they the samething?

then you have the futures market on fx?!..again what is this, anybody know please?
and how is it different from the physical fx market (again what is this?)

i always thought we traded “SPOT FX MARKET” are the physcial & futures fx markets completely different?

i also know its worth keeping any eye on the dollar index (dxx) and the 10 year t bonds, vix etc but i cant find a platform or a place where i cna watch them all at once…does anybody know where you can get all the price feeds for everything in one place?

i know fxpro has most of them, but not all.

sorry for all the questions, and i hope somebody in the knowledge can help, as i find this stuff really confusing!

thanks in advance, all replies welcome

2

This all depends on how you trade, but I would not say that you necessarily have to monitor what is going on in the stock market to be a successful Forex trader. I keep an eye on commodities, as I trade AUD, CAD and NZD against the USD, and the price relationship there is often heavily influenced by how commodities are doing, but I barely glance at the stock market, it doesn’t factor in my Forex trading at all. So don’t feel that you necessarily have to keep a detailed eye on every aspect of the international money markets and the factors that affect them. Find a style, then find the key issues that influence what you need to make it work. Noone can ever know everything, otherwise someone would have predicted the recession!

3

Equities can either mean individual stocks or the overall stock market, depending on the context of use. If you’re watching the indices, you probably don’t really need to watch individual stocks in this case.

then you have the futures market on fx?!..again what is this, anybody know please?
and how is it different from the physical fx market (again what is this?)

Futures is just one (relatively small) part of the overall forex market. You don’t need to watch that and spot. One or the other will be just fine.

By the way, spot is not the same as physical in forex. Spot is 2-day delivery.

i also know its worth keeping any eye on the dollar index (dxx) and the 10 year t bonds, vix etc but i cant find a platform or a place where i cna watch them all at once…does anybody know where you can get all the price feeds for everything in one place?

Here’s one place you can keep tabs on a lot of markets: FutureSource.com | Futures, Forex & Commodities Quotes, Charts, News & Analysis

4

To gezza10,

You probably need to chunk down the information and just take several steps back. Start with major & minor pairs.Please do shy away from thinking that you need to know all of it since there is no right or wrong way to trade and you will end up having your own style. When you end up making money fro it, trust me others will follow and it becomes a system/strategy. Pick one or two pair then look at what needs to be connected to that pair like correlations or inverse relationship that pair has with either other pairs or commodities, stocks…etc. I would suggest looking up Cheat sheets or information that summarizes things you need to know about the personality of each pair so then you will be led to find out what’s necessary about trading that particularly pair. Let a pair lead you to the information it is connected to. Try looking for short cuts on how things could be summarized for you then as times goes by you add on additional findings to it and this could be a practice for you to systematically dissect information. The problem is that there maybe a danger of Information Overload that may exhaust you or confuse you.

5

thanks for the replies guys.

i agree that i shouldnt watch to many things, as it just get confusing, but i like to watch a few other things to see where the real money is going.

6

I have found that one of the most important things aids to success in trading is pattern recognition. There are many traders who, like myself, only need to pay attention to the currency pair they are trading and nothing else. It the is age-old TA vs. Fundamentalist argument.

Nothing beats recognizing a reversal or on-going trends, and having a solid system to implement your plans.

Good luck!

7

u need to look at ur graph