Introduction to Spy-Fx

Sponsored article by Spy-FX. Assume that you are in London and want to go to Amsterdam. Would you walk the distance? Most probably you answered with “No”. When it comes to forex trading, many traders analyze charts in an attempt to identify profitable trading opportunities. This is the same as walking from London to Amsterdam. While it may get you to the desired destination, it will take a very long time. In addition it will invite plenty of unforeseen risks and costs which may ultimately derail you. This is evident with high failure rate of forex traders in the market. …READ MORE

Pattern Trader Pro Review

Pattern Trader Pro Review

In this post I will be reviewing the Pattern Trader Pro forex robot which has been developed by the Leap FX team. Pattern Trader Pro runs in the free to download and very popular MetaTrader 4 trading platform. At the time of me writing this Pattern Trader Pro review, the real verified by myfxbook account shared by the developer is showing a 95% overall gain in around 5 months of trading with a monthly average of 15%. The drawdown is acceptable at round 17% with almost 300 trades averaging at a win rate around 65%. Pattern Trader Pro is suitable …READ MORE

What is Forex Sentiment Analysis and how to apply it to forex trading?

forex-sentiment-analysis-explained

In this post I will be explaining what forex sentiment analysis is and explaining how you can successfully apply it to your forex trading. Forex sentiment analysis can be a very good thing to have in your trading arsenal, although it should be part of a much larger trading plan that incorporates other factors such as good forex trading discipline and good forex money management. No matter how good your sentiment analysis is, you would still need to be a disciplined forex trader and to have sensible money management in place. You should also look to include technical, fundamental and …READ MORE

What is Forex Price Action Analysis and how to apply it to forex trading?

forex-price-action-analysis-explained

In this post I will be giving a brief overview on what price action analysis is and explaining how you can start successfully applying it to your forex trading. Whilst price action analysis can be a good thing to have in your trading arsenal, it should only be part of a much larger trading plan that incorporates other factors such as good forex trading discipline and good forex money management. No matter how good your price action analysis is, you would still need to be a disciplined forex trader and to have sensible money management in place. You should also …READ MORE

What is Forex Fundamental Analysis and how to apply it to forex trading?

forex-fundamental-analysis-explained

In this post I will be giving a brief overview on fundamental analysis by explaining exactly what it is and how you can start successfully applying it to your forex trading. Whilst fundamental analysis can be a good thing to have in your trading arsenal, it should only be part of a much larger trading plan that incorporates other factors such as good forex trading discipline and good forex money management. Even with the best fundamental analysis in the world, you would still need to be disciplined and have sensible money management in place. You can also include technical, price …READ MORE

What is Forex Technical Analysis and how to apply it to forex trading?

forex-technical-analysis-explained

In this post I will be giving a brief introduction to forex technical analysis by explaining what exactly it is and how you can start successfully applying technical analysis to your forex trading. Whilst technical analysis can be a good thing to have in your trading arsenal, it should only be part of a much larger trading plan that incorporates other factors such as good forex trading discipline and good forex money management. I mean, you can have the best technical analysis and unicorn indicators in the world but if the afore-mentioned factors are not in place then forex trading …READ MORE

Why Discipline and Psychology are such an important part of Forex Trading

forex-discipline-forex-psychology

In this post I will discuss the importance of having good forex discipline and psychology. I will cover how these are major factors in your journey to becoming a successful forex trader and what you can do to ensure that you have good forex discipline and psychology. I will look at ways that you can limit the bad habits associated with poor discipline & psychology by forex traders. When implemented in your trading, these factors can be the difference to becoming a long-term profitable forex trader or to giving up. Many newbie forex traders focus on finding the holy grail …READ MORE

AvaTrade Review

AVA Trade Review

In this post I will review the very popular AvaTrade forex broker. AvaTrade have some of the most competitive low spreads I have seen and lightening fast execution speeds in comparison to many forex brokers. These factors amongst many others make AvaTrade one of the best forex brokers in my humble opinion. The AvaTrade support team is also excellent and on hand to rapidly answer all of your questions 24 hours a day in 15 different languages. This is important as I have found some brokers to always have their chat offline and even take days to respond to basic …READ MORE

An introduction to Forex Money Management and the basic principles for forex traders

forex-money-management-explained

In this post I will be giving a brief overview of the basic Forex Money Management principles and how they can affect your forex trading. I will touch upon some of the most important aspects and compare the different types of Forex Money Management strategies to try and help you to understand the importance of good money management and decide on what Forex Money Management strategy is most suited to your individual trading style. What is Forex Money Management? In a nutshell, Forex Money Management are some basic rules that you follow when trading a forex strategy on your trading …READ MORE