Any form of trading has its genesis: from the mind. And, forex trading is no exception. Your mindset actually makes the biggest percentage of your possibilities of either losing or winning in the currency trading game. It all depends with the attitude and the way you set your mind to it. The mindset actually becomes the foundation on which you lay your strategies before you begin trading in the forex market. People like taking shortcuts in almost everything in life but when it comes to trading, there are no shortcuts. It all depends on how you position your mind on the kind of trading you want ..read more

When you know what to expect in a forex broker, you can make sure that you look in the right direction and choose one that will prove to be efficient and effective for you. This is why it is important for you to know what the forex broker is offering you in order for you to open an account with him. What forex brokers provide does not differ from one country to another since forex markets are part of a global market. In this internet age, a client does not have to choose a forex broker who is located in his home country and can choose a broker from anywhere in the world. Here are some charact ..read more

In a way, technical analysis indicators are keys to solving a puzzle and to get the whole picture you need to put all the pieces strategically together. There are grossly four types of indicators and each of them gives you a specific perspective of the Forex market.  That said, this article will briefly discuss 5 essential indicators that form the baseline of Forex trading, from which a novice trader can evolve into an expert or a funded trader with solid knowledge and skills. 1. Trend Indicators Trend indicators tell in which direction the market is headed. In other words, if you’re tryi ..read more

In life some things are guaranteed, like death and taxes. Similarly, in forex trading, you are guaranteed to suffer a few losses occasionally no matter how good your forex trading strategy is. What separates the winners from the losers is how you handle those trades that run into losses. You should be familiar with the most common saying in all financial markets and make it a mantra. That is, “cut your losses and let your profits run”. That is a very practical piece of advice which you should always stick to since one bad trade can wipe out your entire forex account even if you were just from ..read more

Comparing Renko charts to candlesticks – How different are they? Technical analysis as we know it today, has come a long way. Most of the books on technical analysis often tend to focus on the three main chart times. Namely, the bar chart, candlestick chart and the line chart. There are different technical analysis methods that one could use depending on the financial chart style. Technical analysis, after all is all about evaluating historical patterns or behavior to predict future price. While the line chart, bar chart and the candlestick chart often trump in popularity, there are some cus ..read more

Having your real hard earned money on the line and your financial future on a cliff’s edge is enough to drive any strong person into a panic. Forex traders do this every day, with each trade they enter. You are human, and all that stress will pile up and come back to bite your rear.Oops! There are easy tried and tested ways you can deal with your stress before it gets to levels that require strapping you into a strait jacket. Acknowledge Your first step in dealing with forex trading stress is to acknowledge and accept that you are under stress or at least at risk of being stressed. Openly ad ..read more

Using automated forex trading strategies takes away the emotions that come with manual trading for effective results. Automation uses dedicated programs that trade on behalf of humans with faster speeds around the clock. Choosing the best auto trader guide strategies is not an easy feat. Traders have to try out different available systems to find the ones that work best for them. While many of the forex trading strategies are available from third-party forex suppliers and brokers are tried and tested, some traders prefer to implement their own strategies. Creating individual automated systems ..read more

A forex day trader is one who buys and sells currencies multiple times during any single trading day period without leaving any overnight positions. This means the day trader will usually trade during a single time zone. An exception is when two time zones overlap, such as what happens when the US market opens in the morning and it is still afternoon in Europe. Day trading is not as easy as it may seem and forex beginners have to be especially careful to acquire the right skills and tools before venturing into day trading. Market Timing A day trader needs to be well conversant with technical ..read more

Technology is finding its way into every aspect of our lives. Technology advancements have caught up with the online trading industry, changing it for the better. Today, the world is witnessing an increase in the types of trading instruments. CFD Trading Contracts for Difference (CFD) are basically contractual derivative products with two parties (buyer and seller) involved. CFDs can be used in reference to anything from the FX trade to the Binary Option. Each varies based on the underlying tradable asset. In CFD trading, a broker creates a derivative contract that pays you money in the event ..read more

If I buy shoes online from a European merchant today using my dollar account, I have to convert my dollars into Euros. That is the forex market in play right there, the global market that never sleeps. Many have made their fortunes trading currencies and for very good reason. You too can leverage the advantages offered by this lucrative market to make your fortune. Here are 10 reasons why the foreign exchange market is the best for trading. 1. Most Liquid Market The forex market transacts a daily turnover volume of more than USD 4 trillion. That is a 4 with 12 zeroes, my friend, and is at leas ..read more