We all know that the forex market is open 24 hours a day, 5 days a week but that doesn’t mean that there are trading opportunities the entire day. It is important for us traders to learn to adapt to different market conditions and know when and when not to trade.  You may think that following your trading plan is that easy but there are a lot of factors than can influence the way you react to the market and without giving it much thought, you might be actually breaking your trading plan altogether and go for that trade.  Here we will list some reasons why some traders break their tra ..read more

In the advent of technology and the internet, aspiring traders don’t have to be a full-time broker or floor trader to have access to the markets. With just a computer and a stable internet access, you can now access the financial markets in the comfort of your home or even if you’re in a vacation.   This led to the birth of many part-time forex traders all around the globe. It even became more accessible everyone in a legal age, any profession, retirees, students and more. You can even be a part-time forex trader if you have a job.  The only difference with a full-time trader an ..read more

Key characteristics of the Forex market Forex stands for Foreign exchange.  Forex trades the foreign currencies. The Foreign Exchange market is the largest market in the world with a turnover of around $5.3 trillion per day.  The Forex market opens from Monday morning to Friday evening. During the week, the Forex market is always open. You can “buy” and “sell” and so bet on rising or on falling prices. In the Forex market, there are a variety of different players: banks, governments, international corporations who have exposure to foreign currencies, insurance companie ..read more

Risk management in forex trading is the most important thing you will ever learn as a trader. Risk management in forex trading should be the forefront of your trading strategy. If you lose everything, then you will not be able to make profit. The concept of risk management has always been relevant to all kinds of trading and different business ventures. Always think about the outcomes of your decisions and if the results are worth it.   Traders can be active in the market 24 hours daily. One of the most important learning curves for newbie forex traders is risk management and his encompas ..read more

As a trader, have you experienced the need to find the “perfect” set up before executing your trades?   Some traders or even most of them are too focused in finding a perfect set up, tinkering on indicators and waiting on a secret information that nobody yet knows that may impact the trade or whatever it is that you think as long as you can spot a perfect set up.  What we are saying here is that if you are always waiting for that perfect setup, you end up wasting your time “waiting”. We all know that in forex trading, there no such thing as a “perfect set up” or a “perfect ..read more

Forex trading is one of the most difficult career paths to take. With a lot of uncertainties in the market, it takes great confidence and knowledge to survive in the forex market.  As we all know, there is no such thing as a sure-fire trading strategy to be profitable in the forex market. It is all about finding high probability trading set ups and the outcome will always be unexpected.  There will be days when you win and some days when you lose.  The stress of forex trading may affect the trader mentally and may lose his confidence along the way. That’s why it is also importan ..read more

We all know that there a lot of different traders and each of them has their own strategies. Some prefer trading in the long-term trends and some prefer to lock-in their profits within the day by day-trading or scalping.  Day trading or scalping means you will trade in the lower time frames such as the 1-hour charts down to the 15-minute charts. Trading for a short period of time also means you’ll be spending less time in trading and more time for your other activities.  Unfortunately, there are also some things that you should consider because everything that we do has pros and cons ..read more

When it comes to forex trading, we often mention that making sound decisions in trading and getting rid of emotions when trading is most important.   What if your instincts are telling you something important but you quickly disregarded it, and later on when you checked the charts again, you realized that if you listened to your instincts earlier, you would’ve made a big profit out of it? However, this could go the other way around.  There are many ways how our own instincts react to the market depending on the habit that we incorporate in our daily trading. Our body is ado ..read more

There are many advantages when you trade forex over other market instruments. In this article, we will discuss the benefits of trading forex. Low Cost Typically, the cost of a transaction is built into the price in the forex market. Basically retail brokers make their profits from Bid/Ask Spread. Spreads as measured in pips Brokers may also charge a commission, either a flat fee or one based on a percentage of the amount of the transaction. No fixed lot size In the spot forex market, there is no fixed lot size for trading. However, there is a fixed lot size&nb ..read more

In forex trading, we all know that it is important to have a substantial monetary capital to fund your account. However, it is also important build your psychological capital as an addition to your educational investment.  Whenever a trader experiences some losses and gives up after a few losing streak, the reason for quitting is not always the loss of monetary capital but it’s the exhaustion of psychological capital that keeps them from moving forward.  Psychological capital means investing in your own mind in trading. This is the investment of time that you put into education and i ..read more