There are two primary ways to become a more successful Forex trader - to practice, and to learn about the industry. At DailyForex, our goal is to simplify your trading so that you can trade easily and smartly. To this end, we offer you a collection practical articles written by our Forex experts to help maximize your trading success.
You can also check out our compilation of the best Forex articles for additional information about the trading trends, emerging mobile platforms and more.
One of the common trading patterns is “head and shoulders pattern.” But there are a couple of things to keep in mind before you use this pattern.
The words that a trader never wants to hear, are “margin call”, which is when a broker asks a to deposit more money into the account to keep a position open.
There are few parts of Technical Analysis that you can credit to a single individual, but Elliott Wave Theory has that distinction. Read more.
When you begin to trade Forex, you are flooded with new terms. One of them is “slippage.” Slippage is a difference between the price you see & the price you pay.
In Forex, we play a “market order” to get involved. This tells the broker that you want to get involved to the best price possible, or the “market price.”
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.
Head and Shoulders Pattern