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For most traders, the hardest part of trading Forex is coping with financial losses. It is not simply a matter of pain and distress, but it is also a fact that losses are usually the catalyst that push traders into making their worst mistakes, which can then cause even greater losses, producing a vicious spiral in which the trader’s account spins out of control.
When it comes to selecting a Forex broker, one of the most important factors to look for is whether or not it is covered by a reputable regulator. The surge in Forex brokers opening their doors these days has increased the likelihood that many of them are operating without any regulation or bona fide supervision.
The GBP can be a great currency to trade for profit as in many ways it is the most predictable of all the major currencies. In this article I am going to highlight a few points that should help you avoid some of losses if you digest them and keep them in mind.
Social trading with Forex or binary options is the practice of copying the trades of other traders that you’ve found through an online social trading community. Follow our series on social Forex trading here.
The U.S. $20 dollar bill will soon be getting a facelift. In a surprise move by the Department of the Treasury, Andrew Jackson will share the $20 with Harriet Tubman, the first woman to appear on paper money since the 19th century and the first African American to grace American currency.
Social trading is a popular system through which Forex traders can share trading strategies while trading currencies. By linking traders from all over the world into one big network, social trading empowers traders to use the skills of other investors from around the globe in order to trade smarter and more profitably.
Social trading works along the same lines as other popular social networks, such as Facebook and Twitter, where individuals communicate directly with others on an ongoing basis from wherever they are. And as with these other social networks, there are advantages and disadvantages to their use.
A career as a trader can be over in a heartbeat if the trader has not been properly educated to the market’s fickle ways. It is the potential of unlimited riches and income that seduce so many, yet the odds of success are heavily stacked against them. What is it that makes the difference? Why do so few succeed, where most others fail?
In this second part I will explain methods you can use to enhance the profitability of this entry method. I will also compare back test results with results of another similar entry strategy and we will see whether there is anything special about trading the “Flying Buddha” pattern.
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