Most of the people interested in forex trading usually feel devastated by its complex nature. As Greg Secker clarifies, once you get conversant with the basics, particularly basic forex pointers and how to manage risk efficiently, with a little determination you will enjoy excellent returns trading in the forex market. Greg acknowledges that forex trading is not simple, but you will have to invest some time as you learn the ins and outs. If you are new to this venture, several basics will leave you feeling ready and confident to start off.
Some economists argue that trading in the forex market is entirely unpredictable, but in reality, there are several pointers that you can use to help you decide what to purchase, when to buy it and when to let it as well. Some of the standard and user-friendly pointers utilized by forex traders include Bollinger Bands, the Exponential Moving Average (EMA), economic calendars and the Stochastic Oscillator and the Simple Moving Average (SMA).
SMA represents the mean value of stock or currency in a specific period. These values are designed to show market trends and assist you to know the probable amount of a particular money in the future. Economic calendars will notify you of significant events to enable you to predict how they will influence the market.
Exponential Moving Average is a lot more like the SMA, but it reacts immediately to drastic price changes. Most of the forex traders use the EMA to use to their advantage the extreme fluctuations in the forex market. The Stochastic Oscillator measures the momentum in the market while Bolinger bands will help you estimate volatility.
Greg went to the University of Nottingham in 1997, and he studied food and agricultural sciences, but it took him a short time to realize his heart was not in that field. While studying at the university, he served as a trading technologist for Thomas Cook Financial Services.
His position gave him the opportunity to develop the Virtual Trading Desk, an internet-based platform for forex trading, for which he won the British Telecom Award. Secker left the company in 2003 to concentrate on forex trading entirely. Through trading in the forex market, Greg attained financial freedom, and he’s enthusiastic about helping others achieve the same.