Tips On How To Be A Successful Forex Trader

Forex Trading Tips

Whilst there are millions of traders all over the world from different backgrounds that engage in forex trading, there are only a very small percentage of traders that actually succeed in the forex market. It is a widely known fact that a large percentage of retail traders lose. In this article we will briefly touch upon some of the important things to consider if you are to make it as a forex trader. Practice forex trading It goes without saying that the more you practice something, the better you get at it. Do not expect to just fire up your …READ MORE

Introduction to Forex Trading

Introduction To Forex Trading

Forex trading is a popular way of investing online for traders of all different backgrounds and experience levels, from retail traders to institutional investors. The forex market is easily accessible to anyone around the world with an internet connection, trading platform and an account with a forex broker. What is the forex market? The foreign exchange (FX) market is the largest in the world in terms of trading volume which is worth trillions on a daily basis. In the forex market, participants trade currencies. Before online trading, the forex market was only accessible to big financial institutions, corporations, central banks, …READ MORE

How To Invest In Foreign Currency

Investing In Forex Explained

The Forex market is now easier to trade compared to what it used to be in the past before there were so many forex brokers to choose from. In the past, the foreign exchange market was traded mainly by banks and organizations. Currently, anybody with an internet connection, trading platform and brokerage account can trade forex online. The establishment of different forex brokerages has given single individuals opportunity to open a trading account and trade forex anytime and anywhere without any form of restriction. Whilst there are advantages to be had by investing in foreign currencies, there are also risks involved. If …READ MORE

How The Forex Market Works

Forex Market Explained

The Foreign Exchange Market (forex) is the world’s largest financial market with daily trading volume exceeding trillions of dollars. The forex market includes the trading between large banks, central banks, currency spectators, multinational corporations, governments, and other financial markets and institutions. How does the Forex Market work? Forex trading involves trading of a single currency for another currency at a decided trade price on the over-the-counter (OTC) marketplace. Each currency is commonly given a three-letter symbol (e.g. USD) and are traded in pairs such as the EURUSD, GBPUSD, USDJPY, etc. A currency pair usually depicts a quotation of the two …READ MORE

Forex Chart Types

There are different types of charts used in forex trading and each have their own advantages and disadvantages. The majority of retail forex traders will be familiar with bar charts, line graphs and candlesticks. In addition to these commonly used charts, there are also renko charts which I find can help to filter out some of the noise from other chart types. Forex Line Charts These are the most basic charts you can use that some traders prefer due to their simplicity. They represent only the closing prices over a set period of time. The line is formed by connecting …READ MORE

5 Factors That Influence Spreads When Forex Trading

When trading forex, you will need to pay your forex broker the spread which is the difference between the bid and ask prices of a currency pair. There are many variable factors that can impact the size of the spread including the brokers liquidity, trading volumes, economic data and market sentiment. If there is an imbalance between the buyers and sellers of a currency pair, the spread can widen to reflect this market condition. Generally speaking, the tighter the spread, the less it will cost you to make a trade. Some forex trading strategies like scalping are especially dependent on …READ MORE

5 Ways To Improve Your Forex Trading Routine

5 ways to improve your forex trading routine

There are many factors that can count towards helping you become a successful forex trader. Whilst it is a priority to have a good forex trading strategy, there are many other essential things you need to consider in order to increase your chances of having success trading online. Amongst these factors that can have an impact on your over trading performance is having an uncomplicated trading routine in place. In this guide we will look at 5 ways in which you can enhance your trading routine which in turn can increase your efficiency. 1. Avoid over trading Over trading is …READ MORE

How To Create A Good Forex Trading Plan

How to develop a good forex trading plan

Forex traders should make a trading plan and trade accordingly if they are to increase their chances of being a successful trader in the long term. Trading with an established and well thought out plan has many benefits especially when compared to trading without one. Amongst these benefits, a solid trading plan can help prevent you from using inconsistent money management and trading out of negative emotions. Why do you need a forex trading plan? If you are a trader who trades forex online without a plan, it could be considered similar to trying to row a boat with no …READ MORE

How To Choose A Forex Broker

How to Choose a Forex Broker

With so many forex brokers offering online forex trading to clients around the globe, it can seem overwhelming having to go through all these brokers to see which the best forex broker for you. Choosing a forex broker Choosing a forex broker can seem like an even more daunting task if you do not know what you should be looking for. In this article, we will take look at some of the most important factors that I believe are worth considering when you choose a forex broker. Regulation One of the most important things for me when choosing a forex …READ MORE