My Experience with the Forex Market by Olivia Rust
The forex market is something that has always held my interest and, as the New Year came, I decided that I would actively try to gain more knowledge about the foreign exchange market. My understanding of the industry has been very limited until recently. I attended a very interesting seminar with Mark Walas from Plan B Trading. I had done a lot of research about the industry via the internet and with every website informing me that they had the right strategy for me, being a complete novice, I can see how easy it would be to fall into these traps. I decided to attend a seminar to see how...
Read MoreHow I Started Trading by Mark Walas
The first time I bought shares in a company was in 1978, in a business in the IT industry. Six months later, I sold these shares and had a profit of more than 60% on my original investment. With an experience like that, it’s hardly any wonder that I continued investing in companies to profit from share price movements. I traded firstly in stocks and shares and then, as my confidence grew, in foreign exchange. It was most certainly exciting, Forex often moved more in a minute than a share did in a week. It also proved costly as, like many traders starting out, I made many mistakes. It looked...
Read MoreECB impact on GBPUSD
ECB Impact on GBPUSD On 20 June, I wrote about central bank power and the impact the ECB can have on the currency value. This was in evidence again this week on Thursday, when Mario Draghi, the head of the ECB, stated they would do “whatever it takes” to save the Euro. I have chosen to illustrate the impact of his speech on GBPUSD, rather than the Euro. The 4 hour candle on EURUSD was 199 pips in range. The candle length for Cable was 232 pips. In either case, very significant movements. One of the “excuses” for weak GDP figures in the UK has been the turmoil in...
Read MoreAfter the Euro summit
After the Euro Summit How quickly news drops out of the headlines. It was only a week ago that Eurozone leaders met for another in the series of Euro summits to save the Euro. Expectations were low, lower than a snakes belly in fact. Then something miraculous happened, an announcement of progress towards banking union. The markets immediately pushed the value of the Euro higher. Banking union is one of the pillars required to support a currency. One currency, one central bank standing behind it, with the central bank in turn monitoring and regulating the activities of the individual banks in...
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