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Trying to forecast forex rates is an acquired skill

Trying to forecast forex rates is an acquired skill

It’s not easy to forecast the forex markets, but it’s what thousands of forex traders and brokers do every day, with varying degrees of success. Like forecasting the weather, predicting the forex market is sometimes a crapshoot, sometimes a guessing game, and always an adventure.

There are two basic philosophies on how to forecast the forex markets. One is technical analysis; the other is fundamental analysis. We’ll look at them both.

The technical approach examines past market action and uses that data to predict the future. Previous trends in most areas of life are almost always good indicators of the future; forex is no different. People have not changed much in the decades since the forex market was created. People still buy and sell and react to stimuli in much the same way as they did 50 years ago.

Since forex rates change constantly throughout the day, every day, looking at all the years of past data can be daunting. Smart analysts learned to look at the big picture, to skip the minor details and examine trends over a longer period of time.
 
If someone can actually forecast forex rates then it is sure that he is going to be a very successful trader.because to be able to earn from forex you will need to learn about forex and also gain in profits from the ever changing rates.If that ability was available to me then I would surely have been gaining constant profits as all that matter in forex is the rates and their changes.And I am also trying my best to analyze the trade and the rates from a very long time.But it has not been that successful.
 
Forcating the rates is not an easy task because to me i think its all about guessing or if truly you know the economic of ones country to the core. The rate in currencies always depends on the country economy and how they are doing with it. With the stand of an economy, we can predict that they will have some melt down and definetely their currency will fall, if we are right later on, that means you can earn good profit once you have bought that currency.
 
I agree that trying to forecast forex rates is an acquired skill. You have to gain much experience before you can forecast forex rates with accuracy. It is a tough thing to do especially if you are just new to forex trading and your knowledge is limited. I can say that you can acquire this skill by continuing to be active in daily trading and also by conversing with other forex traders with experience. Time will tell and will shape this skill for you. Don't rush things. They will come.
 
yeah i think that the more you trade the better you become in predicting the outcome of the forex trading although despite your skills or improved skills we can still make mistakes as it is part of forex. but at least we can get better as time goes by.
 
Trying to forecast forex rate? Just wondering what do you mean by forex rate? The price range? The support and resistance level?
I guess those thing are just available if you use indicators. But in term of direction of trend that's really need to be precise especially the reversal.
I'm not really good in using indicators but I read a lot of reviews and I'm surprise how they can use indicators to have a clear view of what is happening.
 
I am classify as day trader and I am not use fundamental anaysis method to forecasting the daily possible movement. but I am use pure technical analysis method. in this case, I am use indicator to help me give good views about what is happening in market. but because it is about predict that something not happen yet, the accuracy is not always right.
 
I guess those thing are just available if you use indicators.
But in term of direction of trend that's really need to be precise especially the reversal.
 
[MENTION=592]kasual[/MENTION] that means you must be a good and professional trader because using only technical analysis is very difficult and not an easy thing so what I guest is the right thing to do for other set of trader its just for us to combine fundamental analysis with technical to get the best result.
 
We can just prediction the prices and it is not verified that our prediction will be right all enough time. You have to keep the reduction even if you are an professional. We need to keep one aspect in mid that decrease in a must aspect in currency dealing. We just need to reduce this aspect.
 
It takes time for the forecast in the forex to work because sometimes it would not be a good deal. i would assume that things are going to be hard over a period of time. i guess not all people are going to be that sane with the way forex is going to be dealing here.
 
I think for the forcast issue if we can use a good sourec to do the forcast we can get a good result because forcast in forex trading is just like trading in the right direction when you trade in the right you get the best result and as well when you get wrong result nothing good will ever comeout good again.
So doing forcast that is not that good is very simple and the implication is always loss.
 
I think forecasting is one of the hardest thing to manage most of the time becauses you are going to have some issues to understand that and also you have to think about how the people are going to be managing the money. so forecasting takes time and learn from the loss and profit to get some level of it.
 
Yes. Its required skills. Its either fundamental or technical or both analytic skills. So far I can say that I'm some how not good yet in doing both analysis but even with my limited knowledge using this two analysis some how I still earn each month for eight months. I'm sure those who are good in both are going to be more profitable.
 
I think some people take time to understand how much to spend in the forex. You just have to deal with the amount and trade on regular basis. I think it would take some time for the forex traders to be consistent with this but we have to learn this sooner or later.
 
We can just prediction the prices and it is not verified that our prediction will be right all enough time. You have to keep the reduction even if you are an professional. We need to keep one aspect in mid that decrease in a must aspect in currency dealing. We just need to reduce this aspect.
 
I can see that many people take ore time for the learning and also they lose money while acquiting some of the skills. not all are going to make money this way. so we can say that sometimes the rate is something we are going to be facing in case of the earning.
 
definitely need skills and its related with knowledge and experience. for traders who already know how the market system work, will less mistake in forecasting the next potential market movement. but to be right every time is impossible because even though trader already know the market habit, still difficult to make accurate prediction.
 
Yes without knowledge and skills we cannot make any good use of the Forex business . Without proper knowledge and practice Forex is extremely uncertain and risky and the chances of losing our money is very high. Proficiency in Forex business is achieved through long term learning, practice and experience. a beginner should never open a real account before gaining some practice in a demo account.
 
But in term of direction of trend that's really need to be precise especially the reversal.I guess those thing are just available if you use indicators.
 
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