A Beginners Guide To Forex Trading

A beginners guide to forex trading

When you are a beginner in forex trading, it can be wise to equip yourself with as much knowledge and understanding of what the forex market is, how the forex market works and how to trade forex online. Forex Market Introduction The forex market is by far the most popular of all financial markets and the largest in terms of daily trading volume compared to other markets. There is over $6.8 trillion in daily turnover, providing plenty of liquidity, flexibility and potential trading opportunities. Forex is short for “foreign exchange” which is the exchange of one country’s currency for the …READ MORE

What Are Renko Charts & How To Trade Them

Renko Charts

Renko charts are a type of technical analysis that depends on price movements. Unlike the candlestick charts or bar charts, Renko charts are time-independent. The Renko charts were developed in Japan, and the word Renko comes from the Japanese word for bricks, “renga.” This is because the structure of the Renko charts looks like a series of bricks. What are the Renko charts? The Renko charts compromise a series of bricks; each brick moves with the price movement at an angle of 45 degrees. The movement of bricks can be up and down depending on the direction of the price. …READ MORE

What Are Point & Figure Charts & How To Trade Them

Point and Figure Charts

The Point and Figure chart presents price movements that are independent of time. P&F charts plot X’s and O’s that form columns for price fluctuations. Originally, P&F charts were built for stock trading, but now they are used in every financial market, including forex trading. What are the Point and Figure charts? The Point and Figure charts, like its competitor’s line chart or the candlestick chart, illustrate the same amount of data, the difference its structure compromises of X’s and O’s rather than lines candlesticks. The P&F display data on the basis of X’s and O’s. The X represents a …READ MORE

What Are OHLC Charts & How To Trade Them

OHLC Charts

OHLC, a.k.a. Open, High, Low, Close is a type of technical analysis that pinpoints price movements over a certain period. These charts may be considered highly effective by some traders, as they provide four important data points. What are the OHLC charts? OHLC charts compose of several lines that represent the opening, closing, high and low price of an asset. The vertical lines on the chart display highs and lows, while the horizontal left lines are opening prices, and lines to the right are closing prices. Overall, the structure is called the price bar. The height of the vertical lines …READ MORE

What Are Line Break Charts & How To Trade Them

Line Break Charts

Line Break charts are forms of charts that measure price fluctuations without time intervals. They consist of a series of bars that form lines, showing closing prices. The charts were first discovered in Japan and introduced in the west by Steve Nison. What are Line Break charts? The structure of the Line Break charts resembles Renko charts, but rather than forming breaks, the Line Break chart creates bars. These bars compromises of lines. The up lines identify upward movement and are colored green or white, while the down lines signify downward movement and are colored black or red. A keynote …READ MORE

What Are Kagi Charts & How To Trade Them

Kagi Charts

The Kagi charts are a form of technical analysis that describes different price movements. It was developed in the 1870s by the Japanese to measure the supply and demand of rice prices. What are the Kagi charts? The structure of Kagi charts consists of a series of vertical lines. These lines depend on the asset’s price rather than time, like in bar or candlestick charts. In addition, these lines vary in size. Some are thick, and others are thin. These lines’ thickness and thinness are the most important factor of the Kagi charts, as they give trading signals. Thick lines …READ MORE

What Are Candlestick Charts & How To Trade Them

Candlestick Charts

Candlestick charts are a graphical representation of price patterns. A Japanese man Homa discovered candlesticks in the 1700s while studying the supply and demand of rice prices. Today they are commonly used for trading forex online. What are Candlestick charts? Candlestick charts measure traders’ emotions and present price moves. They contain various candles of different colors. A candle has a bar-like structure, and each candle on the charts varies in size. Generally, a bullish candle is blue or white, and the bearish candle is red or black. Traders can select colors according to their preferences on a trading platform. Just …READ MORE

Forex Market Hours & Trading Sessions

Forex Market Hours

One of the benefits of trading the forex market is it remains open 24 hours a day, 5 days a week. This allows financial institutions and individual traders to buy/sell currency pairs at any time. The market stays close on the weekends and holidays like Christmas and the New Year. Due to Earth’s multiple time zones, a trader sitting in Auckland can initiate a trade, whereas the American trader is still sleeping. And that’s how forex is a 24-hour market. Currency pairs behave differently in different market cycles. These cycles are known as forex trading sessions. These sessions determine the …READ MORE

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