Some traders focus on investing while others focus on micro-moves. This article can give you an idea of what to realistically expect when you enter the world of Forex trading.
Like most things in the world that involve money, there is a lot of deception in the Forex world. Some of it malicious, and some of it benign.
Do you really need a stop loss? The quick answer is: “yes.” The long form of the answer is “yes, if you choose not to blow up your Forex trading account.”
Trading is difficult, not complicated - when you press the “buy” or “sell” button, you are either correct or not, and you have little to do with that.
While news affects the financial markets, traders should ask themselves “What matters more, the reason a market moves, or the fact that it does?”
The differences among retail & institutional traders is their trading accounts’ sizes & thus, there is a difference in the way these traders approach their trading.
In Forex, to short a currency, you need to buy another one. However, downtrends allow you to take advantage of a clear trend & therefore profit from larger moves.
Depending on your broker, switching from a demo to a live trading account, could be extremely simple to fund an account & start trading live.
Although it is possible to do OK by only looking at the Forex market, you could do better by considering what is going on in stock & commodity markets.
Amongst a multitude of charts, we’ll review 3 main ones. The simple line chart, bar chart & the candlestick chart, listing their various quirks, pros and cons.
Many look for the magic system to start making money & become rich. This article reviews some things that work & some hype that far too many people fall for.
One of the mistakes that you might make as a new trader is trying to score big in one shot, instead of playing the fundamental part & winning over the longer-term
Renko charts use bricks, looking like candlesticks with just the body. A Renko chart will completely ignore time & focus only on price changes. Read more!
Understanding the difference between technical & fundamental analysis is the first thing you should focus on when deciding what type of trader you wish to be
No matter what type of trading system you are trying to build, especially of a technical nature, you simply must be able to identify both support & resistance.