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.
Study and analysis of trading patterns forms an important part of your forex education. Although they are not by themselves actionable, in that they are prone to failures and false signals, patterns and formations can be very useful as advance warning about a possible trade.
It looks like the road to recovery in the US will not be a smooth one. Data released yesterday from the Institute for Supply Management for September limped in at 52.6, down by 0.3 on the figure for August.
It’s been a while since we reviewed Forex blogs, so we decided to jump back into the Forex blogesphere and meet some bloggers. This week we will be reviewing alansforexblog, a place in which you can find updated content in the form of news, analysis, and articles.
I once knew a very advanced martial arts instructor. He would only accept as students people who already had a black belt in some martial arts discipline, but it could be any martial arts discipline, he didn’t care which one.
The Bollinger bands theory was propounded by John Bollinger who formulated this very useful trading tool that builds upon the propensity of bands to expand and contract representing the volatility of forex markets and price behavior.
The Moving average convergence divergence (MACD) indicator was created by Gerald Appel in 1960. MACD is a momentum indicator and considered a valuable tool for any forex trader. MACD essentially indicates the correlation between the prices of two different moving averages of say two different forex contracts.
A lot goes into building a forex strategy that can produce pips consistently and under a variety of market conditions. Rookie traders have long checklists of issues they need to address before trading for real capital and priority number one should be selecting a trading strategy. Once you nail down that issue, tasks like selecting a broker, a time of day to trade, what currencies to focus on and other issues will seem tame by comparison.
As the popularity of forex trading has surged in recent years, leading more and more retail traders to learn forex online, so has the proliferation of automated forex systems, expert advisors, forex robots and legions of related products.
We've all heard the statistics about how hard it is to make money in foreign exchange trading. While some traders may brush off the commonly used statistic that 90% of all forex trades are losses, common sense says that while that number may be off by a few percentage points on either side, it gets tossed around so frequently because it is likely true.