Forex trading Tips

Many Oof The Forexx trading products sold over the Internet claim you don't need any experience in the Forex market to earn money. Don't be fooled. They're simply trying to make a quick and easy buck of their product from the unwary.
To succeed in the Forex market, requires more than the computer software they promise will mechanically buy and sell currency contracts for you 24 hours a day, 7 days a week.
Place that hyped up Forex advertisement aside and pull yourself back into reality. Do you really think earning money in the markets is obtainable without first obtaining an education? If it were as effortless as these Forex advertisers say it is, then why haven't you heard your friends talk about it.
Did you get the occupation or the position you have now without any education or training? Why would you think it would be any different for being successful in the Forex market?
You don't need to go back to college for a finance degree, but the minimum you can do is borrow a decent book on the fundamental principles of Forex trading. It will provide you some practical knowledge to at least judge those Forex trading products with a little intelligence.
Forex trading isn't a game. There's money to be earned but there are also risks of losing your starting capital that these Forex trading advertisements barely note

FOREX-Dollar gains as risk trade takes a pause

* High-yielders slip as global, U.S. stock markets mixed
* U.S. new home sales, durable goods orders rose in July
* China plans to curb investment hit global growth hopes
* German Ifo sentiment poll hits highest in nearly 1 year (Recasts; updates prices, adds comment, details, changes byline)
By Steven C. Johnson
NEW YORK, Aug 26 (Reuters) - The U.S. dollar rose on Wednesday as news that China would act to restrict redundant investments underscored concerns about a global recovery and tempered the positive impact of data showing a jump in new U.S. home sales.
Reports that China intends to curb excessive investment in a range of industries "hurts the strong global growth outlook and is one of the things moving the dollar today," said Chuck Butler, president of Everbank World Markets in St. Louis. For more, please see [ID:nPEK160728]
Investors tend to buy the dollar and yen as safe havens or unwind trades in higher-yielding assets financed with the U.S. and Japanese currencies when recovery optimism fades.
Two reports offered some encouragement about the health of the U.S. economy. A rise of 9.6 percent in new homes sales in July was the fastest pace in nearly a year. [ID:nN26261432]
U.S. durable goods orders also rose in July, but a key measure of business demand -- non-defense capital goods, excluding aircraft -- fell, reminding investors the economy still faces huge challenges. [ID:nN26259327]
Analysts also said traders were using the mixed signals global growth signals to lock in profits booked earlier this week as foreign currencies rose against the dollar.
The euro was last down 0.5 percent at $1.4230 EUR= and 0.4 percent at 134.12 yen EURJPY=.
The dollar edged up 0.1 percent to 94.19 yen JPY=. Sterling fell to a six-week low against the dollar and was last off 0.8 percent to $1.6215 GBP=. The euro hit a 2-1/2-month high against the pound above 88 pence EURGBP=.
High-yielding and commodity-linked currencies such as the Australian dollar also fell after European equities snapped four straight sessions of gains led by commodity stocks.
Some analysts said the recent trend that's seen the dollar weaken on good economic news may be starting to fade.
"The new home sales data was good, there's no doubt about it. The question is, are signs that the U.S. economy is starting to bottom good for the U.S. dollar or for other currencies," said David Watt, senior strategist at RBC Capital Markets in Toronto.