I have been interested in Forex for a long time but the number of trades in Forex was far less in the amount of trades than our trading in commodities. So I was not an expert in Forex, you might say.
During the start of the year I always am rewriting/improving our trading plan and while I was working on it I added Forex to our list. Why is that you might ask? We see you writing a lot about trading commodities and indexes so why would we be interested in Forex? As always I am the man with the plan and while trading gold and silver mining stocks or trading leveraged products like ETFs on gold and silver I was not entirely happy. In our team I am the person who tries to improve our trading every year and I felt we were missing something.
So why did I want to add Forex to our list?
I can give you a short list:
- I was interested in Forex/Futures for a long time, so why not add it to our site?
- I wanted to improve my Forex/Futures trading.
- Just because it was buzzing in my head and it would not stop.
- Historically not every month is a good month to trade gold and silver (mining stocks/spot). We have March and also May until June sometimes July that are weak months.
- You may also see Forex a bit broader. I also mean futures on indexes, gold and silver spot, oil,… that some Forex brokers also offer to trade 24h/5.
The most important thing for me is that I always want to do it better and because of the weaker months I wanted something extra to trade when I was not trading commodity stocks. Leveraged products like ETFs that just stop trading when the stock market closes and the next morning the ETF that did alright during the day went into the red during the night made me look for other ways to improve on that.
So what better way than to enter a 24h/5 trading world, the world of Forex and Futures trading. And here we are now. I really dug into Forex trading, Forex brokers, pips, spread and a lot of things more to get me started. I studied a few books, followed several webinars, tested several brokers. Also installed meta trader 4 and tried out some indicators.
Recently I followed a webinar from Raul Lopez from straightforex.com and because he is trading Forex the way I like to trade it via price action trading I contacted him if he, like a few other experts on this site, was interested in strengthening our team. When you click on his name you get some more info about him and I would like to welcome him here.
We are very flexible here at Tradersbonanza.com and we are going to see how we can help you to become a better trader in Forex/Futures.