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Tag: Foreign Exchange

Become a Professional in Foreign Exchange

Posted on by Imarticus Learning

Becoming a Doctor, Lawyer or an Engineer requires hours of dedicated approach and clarity of thought for application. The effort is very similar to what it takes to become a professional in foreign exchange. Just like to work in any professional capacity, you need to dedicate time in honing the skills, it is the same prerequisite for becoming a Foreign Exchange broker. It requires the same amount of dedication and skills to ensure you not only understand trading but also are tremendously successful in it. If thoughts are applied correctly it is guaranteed that you will rise and perhaps be equally profitable.
Since you will become an individual contributor in this setup, you need to have a strong sense of determination and discipline, along with another array of personal and professional attributes, and technical skill sets. Not taking a stalk of your current strengths, and areas of improvement, and hastily jumping into the profession, with a grandeur sense of success, will guarantee failure and loss of capital.
Here are some broadly classified steps to consider before you plan to become a Foreign Exchange Professional:

Be true to oneself and practice and Learn the Trade

Becoming a successful trader will take a lot of effort, courage and time from your end and there is also a considerable amount of risk that you will need to take from time to time. Drive, passion and ambition is the true essence of trading. Trading will not make you a millionaire overnight, initial profits as a mark of success is not the right vision to have. You need to exercise risk control and have a keen observation to spot trends. As a trader, you need to accept that there will be losses, and you cannot make back all the losses on one single trade.
Using a demo account, that is trading in live markets with monopoly money, will help you develop your own style and trading ideas. It is a good idea to become an apprentice to a professional trader or research on the subject. It is a daunting task until you get a hang of it, so take all the support that you can.

Learn the Basics of Trading – Then Develop a Trading Strategy

It is important that you have a clear vision. And that is only possible when you have a strong foundation, the basic introductory concepts of trading. Once you have understood how the forex market functions, it is time to develop your style of trading, a strategy. Now there are many ways you can trade in the market, however, if you need to be an expert in reading raw and natural price dynamics of a market, forex price action strategy is recommended. It will help you develop chart reading skills that will go a long way. It is basically you, who will choose how to proceed with the strategy of your comfort.
Become a Successful Trader
Once you start trading life, points to remember…
• To avoid failure set stop losses on every trade
• Always stick to your trading strategy
• Have a risk margin of not more that 2% on every trade
• Do not get emotionally influenced on a trade
• Trading with the mindset to recover losses is a vicious circle stay away from it
• Trust your instincts
• Don’t be vary of losses, the most successful traders also face it
• Have a target to achieve more profitable trades, than the one with losses
The above are but a few tips that might help you trade successfully. Be aware that this is a very daunting path, and one cannot confirm success or failure until you invest years of hard work, face loads of stress, but stay determined. With effort and passion, drive and patience you will cross over to greener pastures.

Trump’s Surprise Victory And Its Effects On The Financial Markets

Posted on by Imarticus Learning

In the News, The United States of America just concluded the elections for the 45th president of the great superpower. With a clean sweep of both the House and the Senate, Donald Trump, the republican candidate has been elected as the President, much to the surprise of the whole world. While America was in the last leg of these elections, the financial markets world over had begun to feel ripples of change, but with his surprise win, a lot of the financial services companies were left rattled and in grave uncertainties. While the whole world was expecting an entirely different outcome, the way things progressed, it seemed like a recap of the whole Brexit situation, which left a lot of people from both finance and non-finance backgrounds equally shocked. While there was uproar in certain places, for instance the Time Warner Company, which saw a fall of 1.45% drop in its shares, which was incidentally threatened by Trump for concentrating the power in the hands of very few people.

The world news is strife with reports of a number of people losing a lot of money across borders. The Global bond investors have recorded a loss of about $337 billion, which is close to 22 lakh crores of rupees. The global value of the bonds’ market slid by $692 billion, which is over 46 lakh crores of rupees over the last three days. Presently there seems to be a lot of uproar and unrest, both in the country of America as well as on the global financial front. But there are a lot of people who believe that once things calm down a bit, there are very high chances of the financial companies, of accepting the stance of the President elect. Although the Trump campaign has been extremely devoid of any details on financial policy except for his claims and promises to freeze all new regulations, in terms of certain divisions between commercial banking and investment banking.

As Republicans have literally taken it all, in terms of both the Senate and the House, there are concrete chances of a lot of changes to the Dodd-Frank Act, which will the restructuring of the Consumer Financial Protection Bureau and raising the bank regulation over its current $50 billion level of assets. There are also theories, which state that Trump can turn to a different approach, which has been put forth by the chairman of the House Financial Services Committee Chairman, Jeb Hensarling, which basically deal with a bill, which extensively talks about the various segments of the Dodd-Frank and suggests alternative measures. Trump and his criticisms for the Wall Street are likely to support the deregulation of the industry and might prove to be a greater challenge for bigger firms. Another potential financial blow to the financial institutions, could be Hillary’s loss in the strong democratic states, which in turn give more courage to the progressive wing of the party. One thing is certain, that the legislature would not be able to break the giants in the banking sector apart, but would definitely have a lot of negative headlines for the biggest banks in the country. The markets still face a tumultuous situation as everyone gears to wait for the time when Trump, officially begins his presidency.

This, and a lot more, is one of the topics we discuss in our The Foreign Exchange and International Trade Prodegree program in India. You can also watch the video what our experts says about this video.