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Daily Market News — March 31st 2020

The US stock market and the riskier assets are going through a recovery and the forex market is going through a consolidation. The EUR/USD pair looks more bearish as it is threatening to break below the 1.10 level. The resistance levels are 1.1056, 1.1251, and 1.1381. The support levels are 1.0993, 1.0889, and 1.0710. The USD/JPY is range bound at the moment and is facing strong resistance at the 108.59 level. The resistance levels are 108.59, 109.19, […]

Algorithmic Trading Explained

Algorithmic trading involves coding using a certain programming language to automatically execute your trades on your behalf. Since the trades are executed by an expert advisor, human emotions are eliminated. So, it results in faster execution of trades. You can backtest your strategies before you can use them in a live environment. You can choose a platform such as the MetaTrader 4 which comes with the MQL4 platform for writing […]

Daily Market News — March 30th 2020

Riskier assets except the Crude Oil is rising. However, the market is not clear of any direction at the moment. The EUR/USD pair is looking slightly bullish above the 1.10 level. The resistance levels are 1.1251, 1.1381, and 1.1617. The support levels are 1.1080, 1.0993, and 1.0889. The USD/JPY pair looks more stable now as it seems to have bottomed out at 107.00. The resistance levels are 108.24, 108.59, and 109.19. The support […]

The Benefits of Forex Trading

The forex market is the largest financial market in the world. It is different from the share market, because you can open long and short positions. You can profit when the market is rising as well as falling. You can trade this market 24 hours a day, 5 days a week. So, choose your trading hours. The forex market is very liquid. So, you can always find […]

The Benefits of Cryptocurrency Trading

Trading cryptocurrencies like bitcoin, litecoin, etc. involves speculating the price without owning the actual asset. There are severn benefits to trading cryptocurrencies. Volatility: Those who are speculating on the prices of a cryptocurrency, high volatility means more trading opportunities. Market hours: You can trade the cryptocurrencies 24 hours in a day and 5 days in a week. So, you can choose your trading hours. Improved liquidity: Improved liquidity […]

What Is CFD Trading?

CFD or Contracts for difference is a derivative product, which enables you to trade on forex, commodities, indices, shares, etc. With CFD, you do not have to actually own the underlying asset. You profit from the difference in price at which the contract is opened to the price at which you wish to close the contract. Like forex, you can take long and short positions. Each contract has a buy price and a sell price. […]

What Is MT4?

MetaTrader is the trading software that is given to forex traders for free by most forex online brokers. You can not only use it for forex, but also to speculate other markets like gold, oil, etc. It offers low latency execution and hence trades are executed very fast. You can use this platform to build and backtest trading strategies and expert advisors. You can write […]

Automated Trading Systems Explained

Automated trading systems are made of algorithms with predefined set of rules for entry and exit. Hence, it reduces human intervention, so that emotions are removed in making trading decisions. It results in faster execution of trades. Either you can build your own system based on an algorithm or use an existing system. With your own system, you have a better understanding of the strategy involved and the functioning of the system. You […]

Five Tips for Beginner Traders

For beginner traders, trading will sound like a challenging and a tough task. This video focuses on five tips that will help you improve with your trading skills. 1. Do your research: Learn the basics of the market. Decide whether you want to trade forex, stocks, or commodities. Find the best broker who offers a good trading platform, faster execution, good spreads, etc. Find out your trading […]

Gold Forecast — March 27th 2020

In this video, the Trader Guy looks at the commodity, gold for the March 27th session. Gold/USD — Gold market saw a sideways price action on Thursday session. The market looks a bit indecisive at the moment. So, the market could simply consolidate between the $1,650 level and the $1,700 level. The $1,700 level is psychologically significant and could offer strong resistance. You need to see a candle close above this level to see the next buy […]

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