Who is Realistic?

I hate myself for jumping from FOREX to self -introspection topic for this week but could not resist my emotions on my self awareness.I have been reading couple of books (The Corner Office, Ahead of the Curve etc..) and so far very impressed with some of the key facts and real-life instances expressed by the authors. The facts have made me to think more critically about myself. I am not very sure if it helps in the long run but for now bringing the much needed clarity in my goals and aspirations.

The very fact that most of the successful people have gone through a reality test early in their life leads to a little delusion about success in the later half of the life. I thought that i have gone through the phase of reality-test in my life when i was a young boy - yes, the world was not easy then for me. The very feeling of looking at my parents struggle to feed me and put me in a school was draining ,the feeling of being deserted among the rich friends in school and the embarrassment of poorness in the face were all the good reasons for me to strive for success in every aspect of life. Now, after establishing myself in a very respectable position with the memories waning, the reality check is again questioned.

The book along with one of the articles i read lately brought me back the memories live in my mind and gave the energy to understand and correct myself where needed. I would like to list out some of my observations which could be of great use to many who are sharing similar mindset.

Battle-Hardened confidence: Fight for it guys!! Nothing comes easy and Nothing even stays if you don't fight for it.

Delusion of Success: Stay away from it.

Publicly Critical: Stop lamenting about your success and how smart you are.

Accept Failures: Winning always is not an option.


All said, i am going to grab a coffee and start working!!!

Go for ForEX

I am writing here after a long time. Its more than 6 months and definitely quite a long time for a avid blog follower and a scribbler. All these days, i have been very busy hiding and keeping up with my work but very vigilant about the stock market and all the UPs and DOWNs it goes through effortlessly sweeping the stakes of speculative crowd. One fact to be understood and believed is, the game of Stock market and money by trading is not easy for individuals in the current market and a challenge even for the institutions.

So, i was trying to cut the corners and steal the thunder from others by jumping in to ForEX. I did so a couple of months back and though did not get rewarded heavily but felt confident to stay in the game. I am going to keep this blog for the novice crowd and not add any tech mumbo-jumbo in to this.

First, ForEX according to me is simple since the Currencies you trade are limited.
Every currency is almost paried up with USD. so if you are going LONG on USD just be sure that the market data and the FED news backs you up, else go SHORT on USD.

Then comes the important reason why i would like to trade currencies is the trading is open for 24 hours, which is of great use if you are a working professional and doing parttime trading. The trading session is open from Sunday 5 PM EST to Friday 5 PM EST (Not the timings are EST- North America).

Since there are few currency pairs, you get a good amount of time to analyze and invest in them. Also, identifying a global trend is quite easy if you follow the right journals.Few currency pairs would be ideal for long term investments.

Some of the terms that you should be aware and would be if you are already in the trading world
PIPS
PAIRS
BID
ASK
SPREAD
LONG
SHORT SELL
MARGIN CALL
ROLLOVER


Major Currencies to be noted are

GREENBACK(USD)
EURO(EUR)
POUND(GBP)
AUSSIE(AUD)
KIWI(NZD)
Canadian(CAD)

Now, i am going to bring in some concepts which would be the fundamentals for Forex trading. Though i am not going to lay it out in detail, it gives you some heads up to go and explore further.
Trade Flows in and Out of a Country/Currency pair being traded
Capital Flows
Interest Rates held by the Central bank of the country (FED for US and ECB for POUND)
Inflation and CPI(consumer price Index) of the country
Geo-Political events that can have a impact
Non-farm Payrolls.


As Gordon Gekko says "Greed is good" and i am running down the same path. I am not going to say that i am right but "Think what you wish for"!!!

Till i get back, happy trading folks!!!

Start yourself here!!
www.babypips.com