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Daytradingforex.club was originally created as a blog to help me learn everything necessary to succeed as a forex day trader. It could be modified to promote your school with multiple links to that school.
Visitors link to your website
Modify this website to link to your website. Your webmaster or yours truly can modify or delete each page to your liking. On each page you can have some sort of promotion that links to your website.
Look at each page on this website
This website has a great deal of information that gives people free ideas on how to trade forex. You can delete any information you don’t want. Use or modify all other text so that much of it can promote your school.
If you use me to make the changes, I can create animated gifs such as the one here.
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Place a bid on this domain name & website. The reserve bid is $975 USD. To place your bid, go to the Sedo website. If you have any questions, use the Contact Us link above.
PS The original home page started with the title below.
What is forex?
If you want to start day trading forex, you must first figure out what it is. Forex is the largest investment platform in the world. In it, over $5 trillion worth of currency is traded every day. It involves the buying of one currency and simultaneous selling another.
Suppose you had reason to believe that the US dollar (USD) was in a position to become more valuable than the Japanese yen (JPY). Then, you would make a USDJPY trade. Using a broker, you would buy USD while simultaneously selling JPY.
You can trade forex 24 hours a day, 5 days a week from 2 pm Sunday (Pacific time) to 2 pm Friday.
Beginning my journey into day trading forex
I am in the process of learning about day trading forex. I learned decades ago that one of the best ways to learn something is to have to teach it. So, in this blog I will be teaching people what I am learning about forex. Later on I expect to be telling you about my successes and failures. (Failure is part of the forex trading process. You may get most of your trades right, but you will never get all of them right.)
Right now (January 8, 2021) I am a real newbie. I haven’t even started my forex course yet. I’ll be starting it later today.
There are lots of forex courses available on the Internet. The one I’ll be taking has around 400,000 students and has been translated into 20 different languages. Each of the teachers cannot hold their job unless at least 70% of their trades are successful. Combine those 3 points along with the fact that I’ve met several people who are making money with this course and none who are losing. That’s why I feel so confident about course that I’m jumping into it with great enthusiasm.
Factors that affect the forex market
There are lots of factors that affect the directions of the currency markets. Among other things, they include:
- Interest rates,
- Inflation rates,
- Historic pattern of forex investment,
- Amount of foreign trade,
- Balance of foreign trade,
- Amount of public debt and
- Strength of a country’s economic performance.
One factor that we must pay attention to is the future of digital currencies. Many countries’ central banks (including the Bank of Canada) have their own digital currencies. Pay close attention to digital currencies such as Bitcoin.
No matter what you invest in, there is a risk. This blog is simply logging what I am doing & learning. I do not guarantee that you will be successful. I take no responsibility for your success or failure.
What you will see below are things I’m adding weeks after I posted my initial blog post above.
I highly recommend that no one should start trading forex with real money until they are successful in their demo account. Success could be making a profit in over 70% of your previous 50 demo account trades. Alternately, it could be doubling the amount of money in your demo account.
This blog will be mainly about HFX, High Frequency Forex. My candles will usually be 5 minutes long and most trades will be 3 minutes long. I’ll have to make the trade within the first 2 minutes of the candle. So, I’ll be doing lots of fast thinking.
It takes a great deal of patience & discipline to become a successful forex trader. You have to find a system that works for you and stick with it.
You have to have the discipline to consistently use the strategies that you decided you would use. Also, have the patience to wait for a trade that has a high probability of being successful.
At this time (February 11), I think that I’ll be a conservative trader and will not take a trade unless most of the indicators are positive.
Index of blog posts
Blue Gator, #17
Bollinger bands, #16
Cash Trap Blue Gator, #22
Demo Account, #9
Fibonacci sequences, #11
Lost Bitcoin, #7
Risk management, #18
Go to second blog post.