Your broker is your window to the world of financial markets. To succeed in trading, having a reliable and secure broker is extremely important. Here are the most important features you need to look for on a good broker platform. Security and Stability What does a nice and shiny broker platform help if it’s not secure and reliable? Security is the most important feature of a broker platform. This is closely linked to the regulatory authority and jurisdiction where the broker operates, so make to check this info on the broker’s website before opening an account.  Safe licenses are consider ..read more

Paper trading is an invaluable tool for traders who want a risk-free way to learn to trade, analyze the markets, and back-test their trading strategies. Let’s take a closer look at what paper trading is and how you can use it to improve your live trading performance. Set up your own paper trading account here: Practice Trading Paper Trading Explained Paper trading, also known as demo or practice trading, is a risk-free trading environment where traders can trade live markets and test their trading strategies without risking real money in the process.  Paper trading simulates real trad ..read more

Forex brokers are an essential component of successful trading. They provide you with the trading platforms and tools required to trade the markets and usually are the first ones to reach out to in times of trouble. But, how to choose the right broker from the vast sea of choices? What types of Forex brokers are there, and what are some key features to watch out for when picking a broker? We’ve answered those questions in the following article. What are Forex Brokers? Forex brokers allow individual traders, like you and me, to trade the financial markets from the comfort of our homes. In the l ..read more

Signal Summary: Market: UK 100 Strategy: Building the Evidence Direction: Buy Order type: Buy limit Entry price: 6900 Stop loss: 6850 Take profit: 7000 Expiry: GTC Detailed analysis: this is a detailed analysis and more here https://mytradingskills.s3.eu-west-2.amazonaws.com/wp-content/uploads/2021/05/11144328/uk-100-chart-1-150×150.png Created at: May 11, 2021 at 2:45 pm by 169 The post UK 100 appeared first on My Trading Skills ..read more

Let’s face it: We all love trading but often forget about the various costs and fees when placing trades on the Forex market. Forex traders need to be aware of those costs and know their meaning in order to stand a chance of becoming a good trader. Here’s an overview of the main trading costs you’ll face on the Forex market on a daily basis. Forex Spreads When it comes to Forex trading fees, the spread is arguably the best-known cost when placing a trade. However, there is a range of other costs and fees (some of which are hidden) that you need to know about as a Forex trader. Most of you alre ..read more

Forex trading is complex, but it doesn’t need to be complicated. Many traders have made it and become consistently profitable in the currency market by keeping an eye on their risk levels, having strict money management rules, and defining a set of trading rules in a written trading plan. Let’s take a deeper look at why many beginners fail with trading and what you can do to join the elite club of CPTs (Consistently Profitable Traders.) What is Forex Trading? The Forex market, also called FX for short, is the marketplace for the world’s currencies. Trillions of dollars, pounds, euros, yen and ..read more

CFDs are a popular type of derivatives product that allows traders to efficiently speculate on the prices of stocks, currencies, commodities, or indices, without having to take ownership of the underlying assets. Here, we’ll shed some light on CFD trading, its main characteristics, and how to trade CFDs online. What are Contracts for Difference and How Do They Work? CFDs, short for Contracts for Difference, are popular financial derivatives that track price movements in an underlying financial instrument. It is a contract for the difference in two prices. It is a contract between a buyer and a ..read more

If you’re just getting started with trading, you’ve most likely encountered just one type of order: the spot market order. Fortunately, most brokers and modern trading platforms allow you to choose from a range of order types that best fit your trading strategy. In the following article, we’ll cover the most popular broker order types and explain how to use each of them. Before we do that, it is important to understand that an order is simply an instruction to your broker to initiate a trade when some predefined level or combination of events. If you want to have a refresh of what an order is ..read more

Although investing and trading share some common ground, there are also important differences that you need to be aware of. Here is an overview of seven major differences between investing, active investing, and trading. Investing vs Trading Explained Investing refers to buying financial instruments across different markets with the goal of capital growth, income generation, or capital preservation.  Investors mostly have a long-term market view and holding period, keeping their positions open for years or even decades. They aim to catch the long-term growth of markets like stocks, precio ..read more

Leverage is a concept that attracts a large number of traders to the markets. At first, trading on leverage sounds very appealing to new traders. That’s because leverage allows them to control a much larger position size than their original trading account sizes.  But here’s the catch: There is no free lunch in the markets. Leverage has both its pros and cons. In this article, we’ll take a closer look at what leverage is and how to use it to properly to grow your account. What is Leverage? Leverage refers to trading a position size that can be multiple times the size of your trading accou ..read more