Hi everybody!
Like so many others am new to FX. Mostly have been trading equities, and would like to diversify further, FX, Commodities etc etc. Slowly working my way through the babypips school and think it’s excellent so far.
About me: based in London and actual job is in IT. But hoping to get more into trading; if I had been any good at maths at school it would have been my preferred career choice!
Look forward to seeing you all on here more
/Moo
Greetings Moo and welcome to the forums! And thanks for the kind comments about the School; we’re glad to hear it helps! One quick thing: you don’t have to be great at math to be into forex trade…being process oriented and consistent are much more important traits to learning a skill. Good luck on your journey into forex bud!
Hey-
I’m not sure on your equities background, but the majority of principles trading stock can be easily transposed over to the spot FX market; primarily technical analysis.
Think about trading currencies, as trading the nominal economic health of one nation vs. another. Market moves are based on a myriad of economic indicators, which are very similar to important fundamentals one would look for in the equities market.
For example- when investing in a company, you typically want to look at a balance sheet, see solid earnings / share, understand the management team and its direction, and pay attention to earnings/dividends. FX is no different - GDP, CPI, unemployment rates - all of these figures contribute to the perceived value of a nations currency.
EDIT: typo
Hi there, and thanks for the kind welcome and good advice. I’ve just got up to the technical analysis elements in pips school (where do I send the apples for teacher? :22:), so this does make sense, and is similar to how I’ve been looking at equities.
Will keep plugging away!
Cheers
/Moo
Welcome to our forex community! See you around 