Five Ways To Use Social Media (Twitter, Linkedin, and Facebook) in Forex

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The definition of forex trading - the art and science of trying to predict movements of global currencies - might sound a little too complicated for novice investors. The manufacturers of goods in one country want to be paid with their local currency, so importers have exchange the equivalent value of their country's currency into that of the other country.

And at an even more hands-on level, chances are anytime you travel overseas and pay for a good or service with cash, you'll have had to exchange your native currency to whatever is used locally.

If you're looking to expand your investment portfolio beyond stocks and bonds and you have an interest researching and understanding finance and the global economy, then forex trading might be for you. What makes Zachary passionate about forex trading is generating new ideas that can be used to implement actionable trades.

His most successful trading ideas to date have come from focusing on the fundamentals of a linkedin forex trader or country, either a change in linkedin forex trader central linkedin forex trader policy linkedin forex trader a macroeconomic news event, so his ideas linkedin forex trader relate to linkedin forex trader areas. Zachary recently checked in with us to offer a primer on forex trading for newbies.

Read on linkedin forex trader learn how you can get started:. It was started as a way to keep myself on top of all the current financial market news and currency trends.

It has provided an additional incentive to always be learning about the markets, economics and finance. The site has since expanded beyond that initial purpose to include many outside contributors and all types of articles on many aspects of the global markets. We send out a weekly newsletter with highlights from our site and have also recently begun providing trading software for traders. I think it would be beneficial for anyone who is interested in staying on top of the financial market news, macro economic indicators and those who have a particular interest in currency movements.

We have numerous contributors who provide many varied opinions and analysis on the markets while there are continuously updated sections on commodities, stocks, technical analysis and macroeconomics as well. Pips are simply the smallest denomination of a currency price quote.

Stocks go up or down in points. In forex, currencies currency pairs go up or down in pips. As a trader, you generally keep score in terms of pips, like Linkedin forex trader won or lost X amount of pips last week.

So as a trader, it seemed like everything revolved around pips, and it felt like a natural name for a forex website. Amusingly, I remember at the time, I had never come upon any other sites with pips in the name. I was thinking I was somewhat clever, but it didn't turn out that way at all! Actually, there were many sites with pips in the name at the time, and a few were very well known. How easy is it for investors to get into forex trading?

What do you need to get started? Linkedin forex trader is rather simple to get started in forex trading with the availability of free practice accounts, also called demo accounts. This is a simple and easy way to get one's feet wet without any expense.

Free practice trading accounts can be downloaded from numerous online forex brokers and allow traders to practice in real time like real-money accounts. You will be able to get familiar with the mechanics of linkedin forex trader and can practice all the strategies you can think of before putting any real money linkedin forex trader risk. From there, with the ability to practice in real time, you linkedin forex trader want to go ahead and educate yourself the best you can on the markets you choose to trade in.

Whether it is through books, courses, online classes, videos, webinars, getting a mentor or whatever is the linkedin forex trader way you learn. The key is to never stop seeking out the linkedin forex trader information. There are loads of resources all over the internet and many great books.

Once a trader linkedin forex trader to jump in to trade real money always start small! It is a different animal than practice trading and takes discipline, patience, mental toughness and experience to persevere as a trader.

A basic concept for new traders that can seem confusing at first is to understand the fact that when trading forex, you are actually choosing to buy one currency while you simultaneously sell another. This is called trading in currency pairs. The first currency in a pair linkedin forex trader called the base currency, while the second linkedin forex trader is called the quote or counter currency.

If you think the Euro will rise against the dollar in the future, you would want to buy this currency pair. If you think the Euro will fall against the dollar, you would want to sell this currency pair. Simply, you are comparing two things. One currency from one country against another currency from another country.

Some forex trading terminology, like currency pairs and pips, can seem difficult at first because is it new or unfamiliar, but it really is not too difficult to get the hang of after a little while.

Common habits of smart traders I've seen is hard work, preparation, focusing on risk and persistence. It is difficult to be a successful trader if not fully prepared with a game plan prior to making trades or prior to important events. Focusing on risk and thinking in terms of risk is always of paramount importance, as one does not want to lose too much on any one trade and impair their ability to make further trades. Learning to accept losses is especially hard but an important linkedin forex trader of trading.

Losses happen to every trader - there is no way around it - and a trader has to best minimize their losses. One has to somehow psychologically accept that losses will happen, and you have linkedin forex trader just move on to the next trade.

Interestingly enough, it is usually easier to learn from your losses than your wins because there may have been something you did not islamic binary options account free trial account of that caused your loss.

Next time around, you likely will look at that aspect in your preparation. What are some linkedin forex trader habits that forex traders can get into that they should try to ditch? I think linkedin forex trader of the most common bad habits of forex traders is trading too much.

Many traders can get caught up in thinking that every signal is worth trading or that they need to be active all day or in every market to maximize their profits. Usually the opposite is true and traders should focus on trades that they have the strongest conviction will be successful. Another bad habit is jumping from strategy to strategy when things don't go well, while another one is getting into a trade without knowing where to get out.

I think many bad habits arise when traders fail to prepare effectively or when we lose the discipline to stay with what we planned to do. What are some of your favorite resources for learning about and following the forex market? Starting out, I read as many books as I could find on the subject, and I still read as many books as I can. Kathy Lien is a well-known trader and linkedin forex trader writer that I always like to read, as her analysis is always thorough.

Beyond those, I like to keep up on central bank news releases and read studies and market commentaries from large banks and trading houses. What are the biggest headlines in forex trading today? At present, one of the major issues in the markets is the Eurozone's focus on declining inflation and whether the European Central Bank will be forced to provide additional measures to push down the exchange rate of the euro.

China's economy is always at the forefront of the news, and whether that government can maintain economic growth while taming their huge credit boom linkedin forex trader a major concern.

This has large linkedin forex trader for the global economy as well as the Australian currency, as China is Australia's largest trading partner. Another China-centric story that is of major interest to me is when and if the Chinese currency can become a more tradable currency and evolve into a more or less free floating currency like the U. The Chinese currency at this time is constrained in a government-controlled trading band, although the government has pledged to allow a more market-based function in the future.

One of the larger U. The Federal Reserve is scaling back a huge stimulus that was enacted after the financial crisis with an outlook of raising interest rates in This will have implications for many markets beyond the currency markets, including the stock markets and bond markets. Linkedin forex trader our free mobile app.

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During University I developed a great interest in the financial markets from some of the modules which I had studied.

My interest also stemmed from family friends who were in the industry. After conducting some more research into trading, I quickly realised that it can be a very rewarding career, both financially and on a personal level. This was the kind of career I was looking for.

During the summer after my first year at university finished, I felt it was a great time to learn more about the potential career I was looking to get into.

I found myself gathering information from the internet, and came across a training course which taught me the basics about the financial markets and how to trade them. Whilst on the course, I became hooked on to trading and looking back, it was the best investment I have ever made in my life. I built up a good relationship with the trainer who helped me to get some unpaid work experience at a stock brokerage firm.

After the summer, I felt for sure that trading was the area I wanted to go into, and I now had a good foundation to build on in my quest to become a trader. I opened a demo account with a broker where I was able to trade the live markets but not with real money. This helped me to understand the markets and also put some of the concepts which I had learnt during the course into practice. I was reading whatever I could about the markets and seeing how it impacted them.

Once my confidence increased, I borrowed some money from my father and started trading real money on the side while I was studying. I feel this was of paramount importance, as making and losing real money helped me to enhance my trading a lot quicker, as I focused more now that the money was real. The next step I took was to begin applying for trading internships at the major investment banks to carry out during the following summer.

After writing endless pages on my strengths and weaknesses for the applications, I started to receive some favourable replies from banks for interviews. I knew I had to stand out. I will never forget the first interview I had.

As you can imagine, I was very nervous. Obviously this was not the answer he was expecting, and when I got rejected for the role, not the answer I was hoping for either.

I found myself going through numerous first round interviews at some of the banks, which helped build my confidence and improved my interview technique.

I feel when you are applying, it is a numbers game, so do not just stop at a few. Also, you really must make sure you research the role at the bank and go in armed with a sound knowledge about it. I recall fondly the day in February , when I was in the computer room at university slightly hung-over from the previous night, that I received an email from a person with an email ending in gs.

To my delight I had been. I spent the next few weeks preparing for the interview by memorizing my CV and application form, reading the FT every day, and maintaining my trading, so I could display a greater understanding of the markets.

I walked into the Goldman Sachs offices on Fleet Street, and knew instantly that this was where I wanted to be. As I waited in the meeting room, the butterflies increased in my stomach to the point where I thought there was a royal rumble taking place. I heard some footsteps, and then someone from Human Resources walked in and interviewed me on my CV and accomplishments. After 30 minutes or so, she left and sent a trader in to speak to me.

This brash guy then walked in with a watch bigger than Big Ben, and asked me what my view is on the market. No hello or anything.

I talked to him about the trade which I had placed on my trading account. He was deeply interested in it, and wanted to understand my logic as to why I had placed the trade. I explained, and was quietly confident when he stated he was worried I would come in and take his job!

I quickly thought that he was obviously joking. I left their offices that evening, having been told not to call them, but that they will call me. I never received a call during the next week, and started to worry that I had not got through. The following Monday, I received a call stating I had been successful and am through to the next round where I will have 8 interviews!

As I put the phone down, I was happy but I knew I had to start preparing. I returned to their offices on Thursday and was met by the same HR woman I had met in my first round interview. She walked me into a meeting room, where she was closely followed by the Head of FX trading.

I thought this is one of the most bizarre interview techniques I had come across; I thought I must do one of 2 things. Eat the tennis ball to be polite or come out with a good answer.

Luckily for my stomach, I chose the second option. Silence in the room was met by laughter from him, and I knew I had made a good first impression on him. We spoke about the markets and all went well as did the other 7 interviews. I received a call shortly after I left the offices and was invited back for an assessment day.

The assessment day is where I also met the other candidates for the roles. I was shocked to realise that they were from universities such as Harvard, Stanford,OxfordandCambridge! At the end of the day, having done some group exercises, presentations, tests, interviews, etc, I felt exhausted, but felt I had done my best. I got a call 2 days later and was offered a summer internship on the FX Trading desk for 10 weeks. It felt like I was a millionaire! Later, I found out that the thing that had helped me to get the role was the fact I jumped off the page with experiences and demonstrated passion for being a trader.

Any experience and training is important and will help you in your road to becoming a trader, and nowadays when corporations are looking for vocational studies as well as academic, the experiences I had put myself through from the course to the live trading had paid off. I spent the summer at Goldman Sachs understanding how banking works and what traders do.

I was set numerous projects and spent my time learning from some of the best traders in the world. The internship was a 2 way interview. I found myself getting to my desk for7amand leaving at7pm. I gave it my all and would not change the experience for anything. At the end of the internship, I was offered a full time graduate position on successful completion of my degree, where I would join the FX trading desk in London, with 6 weeks training in New York.

I was over the moon, and it certainly took the pressure off a bit in my final year, allowing me to concentrate on my studies, to make sure I got at least the 2: Looking back, the main thing I realised is that without the training and work experience I received in the summer of , none of this would have been possible. It may have, but doing the things I did greatly enhanced my chances. I was pro-active about it and it worked for me. It is even more important nowadays with the economic climate then it was then, to ensure you have something that can make you stand out and talk about at interviews with prospective employers.

If you wish to learn more about the courses on offer or to open a demo account to practice your trading skills please click on the links below. Trading Courses — http: Trading Account — http: Hi, Your story is amazing!

I was wondering if I could be in touch with you to ask you some advice about being a FX Trader at such a big bank? Thank you and hope to hear from you soon! I found this article a huge eye opener, I can see you are clearly a vocational learner like myself. I would love the opportunity to speak to you on a basis or even Face to Face.

My email is attached, please get in touch. Hi, I found this article a huge eye opener, I can see you are clearly a vocational learner like myself. Most Popular Most recent Most viewed.