I want do tranding business,, help me ..!!! thx..
Since currency and commodity is traded by banks/traders etc all over the world, how is the final price daily determined? E.g Is the quoted price for oil the same in US and Middle East? Whose quotes do traders follow? What prevents this from arbitrage? What prevents huge fluctuations in moment to moment trading? If currency rates differ from banks to banks, is it possible to profit by arbitrage?
Im studying Forex, and i have the practice program 5 days now, im reading and daily i make virtually almost 4000$ and im loosing more than i make.
So, my humble logic says, learn more, and learn to make only the good trades and not the bad ones.
So, I read books, online stuff etc etc, in 4 days i learn about candlesticks, MACD, Histogram, trading pairs,other technical indicators, pips, leverage, spreads, and so many other things, and I also learn that i have to practice at least a month or two! before i even think to make a trade with real money!
and i see clearly that i need to practice because i really don;t earn money, not even with fake money!
my losses are bigger from my profits!
so, the next logical step is to practice until i will make more profits than losses with the virtual money!
so, how come, that simple thing people don;t follow it and go and loose their money?
at least if vitrually after a month i still loose money, i will not trade my real money and i will have forex as a nice game!
i will be a happy person!
but if i see that i make money , i continue and see how im doing.
I believe that a medium trader should make more than 65% of winnings and a 35 of losses.
My personal goal is to 70 up to 80% success!
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