The Forex Social Party

DailyForex.com Team

By: Charley Warady

Yes. You are definitely trading the Forex market to make money and not for Forex social activity. It is you against the world and they are the enemy. It's a dog eat dog world out there and you can't take any prisoners. It's you or them. Nice guys finish last. Don't trust anyone, because they are all out to get you and you know who 'they' are.

If you are of the paranoiac type set, the above Forex market trading strategy might work for you. But the majority of Forex traders are not looking over their shoulders and most feel that there's enough for everybody. Which, in fact, there is.

Being sociable while trading Forex is a little more difficult than it was in the heyday of commodities trading when there were hundreds of people on a trading floor. The physical proximities couldn't help but lead to social interaction whether you liked it or not. As a matter of fact, it was much of that social interaction that was part of the game.

However, like the Forex market itself, the Internet and online social networking exists for the Forex trader. Of course there are online tutorials, and mentoring programs, and online discussion groups. But there is also a social aspect of the Forex social community that should be taken advantage of as well. Consider it a big worldwide office party.

Forex Social Platforms

If you haven't experienced Twitter, then now is the time to do it. With entries of 140 characters or less, you'll find other Forex traders to share quick quips about the market or just about anything else. There are also Forex news services that post on Twitter that can be useful for quick notifications. But the Forex traders you follow and that follow you on Twitter can be used just for fun. Forex Social

Some of your Facebook friends should be those involved in Forex. Forget about the professional aspect of it. Tell them about your family; hobbies; who you think is going to win American Idol. It doesn't have to all be what the EUR/USD is going to do if it doesn't hold the current resistance line.

Share some of your favorite You Tube videos with these people, or your music preferences from Blip. Show the other Forex traders that you're as multi-faceted as the next guy. You may just have a facet or two they're missing.

There is a method behind this madness. If you create a Forex social atmosphere around yourself, as well as a business atmosphere, it tends to raise one's level of commitment towards the business. You become more involved and it keeps your head in the game. Because the business is run online, it is important to try to create a three-dimensional atmosphere as if you were in an office situation or on an actual trading floor. You'll find that the minor Forex social distractions actually help with your focus when it comes down to doing business. Twitter and Facebook become your water cooler to hang out at during your breaks or down time. You'll be amazed what kind of juicy gossip you might pick up. You know...like what happened to Swanson in Accounting.

DailyForex.com Team
The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.

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