Posts Tagged ‘Forex trading’

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Freedom That Harms Your Forex Trading

In forex trading, you have absolute freedom. You can choose a trading session, trade as long as you want, and wherever you want. Also, you can trade from anywhere in the world using a laptop or a tablet device. But in reality, you should limit yourself in trading. You should choose one timeframe and stay with it. In the MetaTrader 5 platform, you have 21 timeframes to analyZe the market. Jumping from […]

Learn to Write a Winner Forex Trading Plan for Yourself

All successful traders have a written trading plan. Hence, it is important that you write it down, a trading plan before you start. It is important that you chase strategies after you make losses. Your trading timeframe: Write down your trading timeframe. So, you will not switch between timeframes to avoid confusion. Your analyzing system: You use tools […]

Swap Charges — Forex Trading

Swap is the interest that you pay or receive by holding a trading position overnight. When you trade a currency pair, you buy one currency and sell the other. For example, when you take a long position in the EUR/USD pair, you buy the euro using the US dollar. Central banks around the world charge interest rates. For example, hypothetically, Bank of England has 0.1% interest rate, and the Federal Reserve in the US has […]

What Does Leverage Mean? — Fiorex Trading

Leverage is like a loan offered to you by your online broker to control a larger trade position with a relatively small capital. Choosing the leverage is based on your risk appetite. Different brokers offer different leverages. Some examples include 1:50, 1:100, 1:1000, etc. To start with, you must use low leverage for your trade positions. If you make some losses, you will still be […]

Banking Business in Forex Trading | Forex Trading

To understand the role of banking business in forex trading, you need to find answers for the following questions. What is bank and how does it work? Banks provide a way to store your money and lend some money for those who need. The evolution of banks has a long history. In recent history, banking business started in Italy in the 15th century. You have different types of banking, like investment bank, savings bank, etc. […]

How to Choose a Legal Broker

You might have heard that 90% of retail traders lose money in forex trading. They may have good strategy and risk management in place. However, you might have not heard about illegitimate broker or a scammed broker. So, you should avoid such brokers. You must choose brokers offering high leverage. A broker acts like a middleman between you and the liquidity provider, who are commercial […]

How Professional Forex Traders Predict the Future — The Insider Secret

It is not possible even for professional traders to predict the future. If someone claims to you that he can predict the future, you should consider such a person to be a scammer. There is no strategy with 100% win ratio. Losses are inevitable in trading. So, you should not try to predict the future. There are three simple facts that you should follow. No one […]

Don't Wrestle with a Gorilla in Forex Trading

To win in forex trading, you need to be a better strategist. The concept of wrestling with a gorilla comes from the book, Good strategy, Bad strategy, written by Richard Rumelt. This situation arises when you want to fight at the moment with your rivals have a big advantage. So, there are trading situations in forex, where you can compare it with wrestling with a gorilla. So, there are two […]

Role of Banks in Forex Trading? — Forex Trading

The term forex refers to the international market, where currencies are bought and sold by various participants like banks, financial institutions, retail traders, etc. The exchange rates are represented using currency pairs like EUR/USD, GBP/USD, etc. There is no physical central location and all transactions are carried out using the internet. The forex market operates 24 hours and 5 days in a week. Each day, the volume traded […]

Fundamental Analysis Means? — Forex Trading

To be successful in forex trading, you should use both fundamental and technical analysis. Fundamental analysis is about analyzing economic data, which reflects the health of the economy of the country involved. You can use the economic calendar and look for the release of economic data and other news events. A high impact data has significant impact on the market after it is released. It is indicated by red color. Some examples include […]

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