Traders are the people sitting at their terminals and having no possibilities to exchange views or just to communicate. For this purpose numerous forex forums are organized. On the sites of many dealing companies forex forums are created. It gives the chance for traders to discuss the problems, to exchange views and techniques, and sometimes to make the collective decision about the transaction making. There is another question - is such practice useful? The trader himself should be responsible for his actions.
Young traders sometimes use forex forum as a source of the analytical information or an economic calendar to draw conclusions about what is in focus of attention of the forex market today: news, statements or figures and levels of the forex technical analysis.
The persons having little in common with problems of the financial markets cannot understand the discussion topic of forex forum at all as traders' lexicon is a specific thing and is absolutely incomprehensible for uninitiated. Trade in the financial markets is absolutely special world. Not in vain the trader's job is considered to be very prestigious and profitable.
Forex forums are organized at many sites devoted to traders' training, and also at the sites giving information about the resources in the currency market. It is even possible, using the basis of forums' participants' opinions, to try to make indicators of market's moods which are described by many authors, including A. Elder.
More often on forex forums it is possible to meet opinions of the traders specialized on home trading and guided basically by the technical analysis. It's sometimes curious to see how the traders focused on the technical analysis, interpret outgoing macroeconomics data and predict currency movements, try to feel market's pulse, its mood.
Probably, while participating the forex forums the most difficult is not to start to impose one's opinion to other participants and not to change the position depending on opponents' opinions; and if one wants to take into consideration the viewpoint of forex forum participants it is necessary to do it deliberately, intelligently and cautiously. It is necessary for real trader to remember that absolutely right the market can only be. More often to the trader, who has changed his position under the pressure of the majority, happens extremely vexing to receive diseconomies instead of possible profit.
Young traders sometimes use forex forum as a source of the analytical information or an economic calendar to draw conclusions about what is in focus of attention of the forex market today: news, statements or figures and levels of the forex technical analysis.
The persons having little in common with problems of the financial markets cannot understand the discussion topic of forex forum at all as traders' lexicon is a specific thing and is absolutely incomprehensible for uninitiated. Trade in the financial markets is absolutely special world. Not in vain the trader's job is considered to be very prestigious and profitable.
Forex forums are organized at many sites devoted to traders' training, and also at the sites giving information about the resources in the currency market. It is even possible, using the basis of forums' participants' opinions, to try to make indicators of market's moods which are described by many authors, including A. Elder.
More often on forex forums it is possible to meet opinions of the traders specialized on home trading and guided basically by the technical analysis. It's sometimes curious to see how the traders focused on the technical analysis, interpret outgoing macroeconomics data and predict currency movements, try to feel market's pulse, its mood.
Probably, while participating the forex forums the most difficult is not to start to impose one's opinion to other participants and not to change the position depending on opponents' opinions; and if one wants to take into consideration the viewpoint of forex forum participants it is necessary to do it deliberately, intelligently and cautiously. It is necessary for real trader to remember that absolutely right the market can only be. More often to the trader, who has changed his position under the pressure of the majority, happens extremely vexing to receive diseconomies instead of possible profit.
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