Trying to forecast forex rates is an acquired skill

[rumon22]

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.If someone can actually forecast forex rates then it is sure that he is going to be a very successful trader.

 

[rumon22]

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.Yes without knowledge and skills we cannot make any good use of the Forex business.

 

[kasual]

yes, knowledge and experience is important to lead traders become success and to gain that, maybe will take long period and long process. beginner should patient in this process and keep persistence no matter what the difficulties that maybe appear.

 

[budado]

Its requires skills and experience. Sometimes its take lots of observation and lot of time to finally have a good since of timing and analysis. In my experience sometimes analysis is right but our timing is wrong. For example. The indicators say its going to turn bullish. But the price goes bearish and you think its a false reading. but after six to eight hours the price goes up dramatically. so the analysis is correct but your timing is wrong. This is what we need to develop.

 

[ryuken]

It is not so easy to acquire this type of the skill. Most of the people are going to be taking forever to learn this skills and that said, people should be understanding all these skills by spending more time on the forex side. The thing is that you have to see this as more of an skill and not something you are going to see over a period of time there.

 

[Taha Nizam]

Without proper information and exercise Currency trading is extremely unclear and dangerous and the possibilities of dropping our money is very high. Expertise in Currency trading company is obtained through long lasting learning, exercise and experience. a starter should never open a real consideration before getting some exercise in a trial consideration.Yes without abilities and information we cannot make any good use of the Currency trading company.

 

[Hanif_bhutto]

I think that more forecast forex rate with accuracy. I agree that try to forecast forex rate is an acqurired. Thats means you can good profit once you have bought the curency

 

[Taha Nizam]

But in phrase of route of pattern that's really need to be accurate especially the change.I think those factor are just available if you use signs.

 

[martyn]

yes, we do need to estimate the level of our ability in forex trading, so we can choose the right type of account according to which of our trading ability.

 

[budado]

Its really requires skills to become a successful trader in forex. As we need to be focus more on doing analysis than doing something else. I do hope that in the long run I can still maintain and sustain my account for good. right now I do enjoy forex trading and I know I can become a successful trader if only I concentrate.

 

[eddiej]

Of course it is, it takes time to be able to interpret those charts and graphs to a tee. No one can just come and analyze those things out of the blue.

 

[budado]

Its really base on trading skills and experience and your understanding on particular pair. For example Aud is usually gold and china economy driven. So if gold is high and china economy is good aud usually goes bullish. But if gold is down and china economy is down then expect aud to go down.

 

[PROPENSITY100]

The entire business of Forex revolves around predict the Forex market and forming our trading decisions. There are various tools and indicators which can help us in the process of estimating the Forex trend and executing our trading plans productively.

 

[riddick09]

It will already a sort of analysis or analytical skills to have the Forex rates or see it's movement. Thus, we still predict the market with the analysis and it's just given that a trader will do this thing to increase the chance for making a good trade and to have profits in the end.

 

[jackcm]

That is called market timing and of course prediction is not easy for novice traders and inexperienced traders. Market timing is considered as the key to achieve successful in trading.

 

[Decub]

Generally, skills of this nature are usually acquired as no one was born to know how the economy of a country or particular society will look like. Before one can effectively forecast Forex rates, he must have been skillful enough and has had much experience in trading not just by studying but must have traded for quite some time to easily predict the impact of a given economic situation on the country's currency.

 

[naninov]

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.

we can only predict the market by analysis not by guessing without analysis... history repeated itself, i ever read that somewhere and i think that is true, sometimes the currency moves just like movement in such time before, that is why technical analysis take the role to predict current trend of such currencies

 

[Decub]

It will already a sort of analysis or analytical skills to have the Forex rates or see it's movement. Thus, we still predict the market with the analysis and it's just given that a trader will do this thing to increase the chance for making a good trade and to have profits in the end.

Yes, and because this is something we learn in the course of our practicing or learning Forex. Some say that anyone that can forecast and predict the Forex rate has some degree of talent in born but I doubt as this is what we got through knowledge of practicing.

 

[gkintl]

Only very few traders are born with speculative skills. In fact, most of the professional traders are what they are now only because of hard work, commitment and discipline. As long as a beginner is willing to go to any extent to learn forex trading and implement the same in reality, success will be at his door steps sooner. Whether it is technical or fundamental analysis, a trader will be able to do the same without any difficulties as long as there is dedication.

 

[Daisy]

I think as we gain extensive experiences, we can forecast it better than the newbie. Although, no one can be certain 100% all the time in forex but as you gain experiences and intense knowledge, you will have a higher sense of accuracy in your prediction. I mean there isn't much to forex once you know it all. Its easier to predict that way. I think we must work hard to gain knowledge and experiences.