Forex Market Trading And The Mind Games

Samuel23

Banned
Apr 20, 2012
171
1
0
First, what is Forex: The FOREX or Foreign Exchange market is the largest financial market in the world, with an volume of more than $1.5 trillion daily, dealing in currencies. Unlike other financial markets, the Forex market has no physical location, no central exchange. It operates through an electronic network of banks, corporations and individuals trading one currency for another. Mind Games defined: Mind Games are a kind of social interaction where participants try to screw with one anothers' heads. The concept is most often used colloquially to refer to deceitful, confusing or Machiavellian situations. However some mind games are described by the psychology of transactional analysis. When it comes to trading on the Forex market, winning is a matter of the mind rather than mind over matter. Any trader who's been in the game for any length of time will tell you that psychology has a lot to do with both your own performance on the trading floor and with the way that the market is moving. Playing a winning hand depends on knowing your own mind — and understanding the way that psychology moves the market.
 

Easy Trader

Master Trader
Sep 17, 2011
240
5
59
First, what is Forex: The FOREX or Foreign Exchange market is the largest financial market in the world, with an volume of more than $1.5 trillion daily, dealing in currencies. Unlike other financial markets, the Forex market has no physical location, no central exchange. It operates through an electronic network of banks, corporations and individuals trading one currency for another. Mind Games defined: Mind Games are a kind of social interaction where participants try to screw with one anothers' heads. The concept is most often used colloquially to refer to deceitful, confusing or Machiavellian situations. However some mind games are described by the psychology of transactional analysis. When it comes to trading on the Forex market, winning is a matter of the mind rather than mind over matter. Any trader who's been in the game for any length of time will tell you that psychology has a lot to do with both your own performance on the trading floor and with the way that the market is moving. Playing a winning hand depends on knowing your own mind — and understanding the way that psychology moves the market.
Do you have any good advice, references or literature that could help traders with trading psycology?? I don't understand this post.
 

Samuel23

Banned
Apr 20, 2012
171
1
0
Maybe now it is 3 trillion or above but this is what i have read concerning Forex Market Trading. Its good that you have corrected me on this post as traders can have the approx amount. However, i agree that this is a mind game as we need to study well the market and then process our trade. It is really a skill game guys, i develop our intelligence and also work up our brains. If you are a trader, then you must be an alien :) called supernatural :))
 

Max

Trader
Jun 13, 2012
7
0
12
According to the Wikipedia 4 trillion is more accurate (and it might have grown bigger by now):

"as of April 2010, average daily turnover in global foreign exchange markets is estimated at $3.98 trillion, a growth of approximately 20% over the $3.21 trillion daily volume as of April 2007. Some firms specializing on foreign exchange market had put the average daily turnover in excess of US$4 trillion"
 

Samuel23

Banned
Apr 20, 2012
171
1
0
Thanks to share this Max, i really did not know that this is the global market turnover. It nice to know as these information is important for a trader. Seems this market gonna some touch the sky soon. A really amazing turnover!!
 

Lesiro

Trader
Mar 4, 2018
40
3
13
31
The figure is $5.1 trillion is 2016 as per BIS, a huge figure! At an estimated brokerage of $1 per million dollar of trade, this would mean $5.1 million of fees broking houses would be receiving daily. No wonder the market continues to attract large number of brokers, vying to get a share of the pie.