Financial Blog

by Bank of England

Question by judezlittle: What Is The Elliott Wave Theory For Forex Markets ?

Best answer:

Answer by Inspector Clouseau
The Elliott Wave Theory can be applied to most all financial markets not just forex. It holds that markets go up in waves of 5, and descends in waves of 3. That is a relatively simple concept – but, as always, the devil is in the details. In wave theory the devil is in counting what is a wave. To add to it there are Grand waves, major waves, minor waves, micro waves, etc.

There are many books on Elliot wave as well as financial websites that use the theory for their predictions. Just Google ‘Elliot Wave’.

A nice introduction can be found at: http://www.acrotec.com/ewt.htm

Hope this Helps

For an introductions

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Question by jimulik: Has anybody out there tried Forex trading ?
Does it require special training or purchasing expensive software.
Can I make money in Forex trading ?

Best answer:

Answer by Paul E
Forex trading does require education, if you are experienced with trading shares or commodities it might help you already knowing the basics.

Like any market trading it requires education practise and Capital.
Yes you can make heaps of money as the forex market trades over 3 Trillion dollars daily. but realise that like any other profession it will take several years to really master.

i recommend starting at babypips.com

Know better? Leave your own answer in the comments!

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by wild.sproket

Question by Pandu M: forex fundamental analysis?
signal information.

Best answer:

Answer by Xelam
the forex market is so volatile, you can never expect any good input from any forex signals or tips. they are most of the time rendered useless and you will only get frustrated the more. perhaps you may want to try this site. here the can provide you with a personal Account Service manager with whom you can talk live over the phone, email or chat. subsequently he can provide you the tips, tricks and whatever is needed to profit in this business.

What do you think? Answer below!

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by Tradingrichmom

Question by BEN G: What is the best Forex trading system and what returns to expect?

Best answer:

Answer by Paul U
I don’t know if there is necessarily a best or worst Forex trading system. The greatest variable to success or failure is the trader himself. Forex is extremely sensitive to greed, fear, lack of knowledge, impatience, lack of a game plan, jumping in too soon, jumping out too soon, overconfidence and the list goes on.

Forex is a great study of human nature. It is quite interesting that a very good trading system can have wildly different results for different traders. Why is that?

If you take a conservative approach and use a strategy that will minimize the inherent risks of Forex while at the same time providing a way to capture consistent profits then you have accomplish two things. Capital preservation and slow steady wealth accumulation. The secret to Forex is to live to trade another day!

Currently I am earning a consistent 10%+ per month. I am not claiming to “double my money by next Tuesday”. Forex is not online poker. I have been trading with real money for over 6 months and I am quite pleased with nice steady returns.

If anyone is interested in the trading strategy that I use I can send them a report that my friend Lee wrote that does a very good job of explaining Forex and the strategy that we use. Send me an email at pupp52@yahoo.com

I may also be able to arrange a free 15 day trial for you are interested in evaluating the strategy yourself.

Best wishes on your journey!

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Question by sxy ldy: Can you tell me more about day trading and forex trading?

Best answer:

Answer by Bob
Go to a library or bookstore. Then if there’s something you don’t understand, ask a question. For a forum like this, you really need to be more specific.

Know better? Leave your own answer in the comments!

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