29 Oct 2011

Do you think you can trade?

Recently, some of the Nuffnang Giltterati+ bloggers get a chance to attend a session on FX (Forex) Trading at Terraseeds.


(Credits HP/ William) I didn’t know that I have a nice back! (:

This is in conjunction with a Forex trading competition held by GK Goh !

Before the start of the competition, we are given a training session by Ms Binni Ong from TerraSeeds .

She gave us an introduction to some of the jargon that we have been hearing, e.g. bullish or bearish market. Despite the short session, she give us quite a few tips on what to look out in the trends to buy or sell.

What are we trading on? $20k in virtual money!

Yup, you didn’t hear wrongly, $20,000. But all in virtual money lar!

How to trade? There is this little application called GO FX that you need to download that gives you a great dashboards to the things you need to look out for to predict the trends.

There is a chart area for you to monitor the ups and downs!image
Screenshot of the Euro on the application.

As you can see, SMA 21 (blue line) & SMA 55 (red line) are two of the technical analysis tools that we were thought to use! We were taught how to read them!

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Key financial news being fed to the GO FX application!

Keeping an eye on the financial news can also prove to be useful. It give you an idea of the general trend!

The charts are being updated live, indicating the trends in real time!

From a user point of view, it has been an ease navigating around the interface. You can even customize your own layout (eg. where the charts are, news feeds, your analysis lines).

It is quite simple to use the app. All you need to do is to click the buy or sell button, confirm your actions.

However, it is important make your decisions carefully based on what you learn from the experts! Do make sure you make your decisions properly! (:

Had great fun trading with GK Goh! =)

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