Forex or the foreign exchange market is a decentralized or over-the-counter (OTC) market whereby currencies are traded at current or determined prices. This market brings together central banks, investment banks, commercial banks, hedge funds retail traders among other professions. According to the Bank of International Settlements (BIS) last triennial survey, the size of the forex market turnover was $5.2 trillion as of 2016. The forex market is thus the biggest financial market in the world.
Trading Forex (FX) involves trading of currencies where you can buy one currency while selling another for speculation purposes. Forex trading just like any other investment involves taking calculated risks. When trading forex, you can make profits or losses. You need to master the best forex strategies that can work for you to benefit from forex trading. Currencies tend to fluctuate due to various factors like geopolitical, economical and more. The aim of trading in currencies is to make profits from the changes in prices.
Forex exchange is an international market for trading currencies. According to a survey by the Bank for International Settlements in 2016, the average daily forex trading was 5.1$ trillion and of this, spot trading made up $2.6Traders have trillion.
/Lydia Wanjiru/ -- To become a successful forex trader, you need to learn, practice and set a clear plan for the trade. Getting into the forex business is easy and you can follow a few simple steps. You need to learn how to mitigate losses while maximizing profits which you can achieve by identifying good trade setups that have a positive risk and reward set up.
There are many traders in the forex world who often blames the forex market and their account deposit for their failure. But in reality, your trading account deposit or the forex market has nothing to do with you a failure. You are not making a profit in the forex market only because you are not maintaining a strict trading discipline in the forex market. In order to trade the market successfully, you need to have very precise knowledge of the forex market. In this article, we will discuss how we can trade small trading account and become profitable in the in the forex industry.
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Thе саndlеѕtiсk сhаrt iѕ one of thе mоѕt uѕеd charts in trаding nowadays. It is thought to have bееn dеvеlореd in thе 18th сеnturу bу a Jараnеѕе riсе trаdеr Munhiѕа Hоmmа. Hе diѕсоvеrеd thаt by drawing thе price movements as a “candlestick”, hе will hаvе mоrе information thаt can bе uѕеd in trаding. In timе аnаlуѕtѕ аnd statisticians hаvе diѕсоvеrеd раttеrnѕ which indicate with a сеrtаin рrоbаbilitу a соntinuаtiоn оr a reversal in thе рriсе action оf a сеrtаin instrument.
June 27, 2017 /Finance Attitude/ -- The number of Forex traders is increasing every single day due to its lucrative potential. Most of the trader’s jumps into the world of online Forex trading incur huge financial losses in the market. If you are trading the Forex market for more than one month then you should have heard the word “Trend”. There is a well-known proverb in the financial industry that the trend is your friend. So, if you truly want to make a profit in Forex trading then you must know how to trade the trend line in the market.
Trading the financial instrument can be extremely difficult if you are relatively new in this industry. Most of the professional trader who has to trade the forex market for a long period of time have undergone extensive learning procedure. If you truly want to become a professional forex trader then you need to know what is support and resistance in the market. If you don’t know what is support and resistance level then you will not be able to make money by trading the forex market. In this article, we will tell you how to draw the perfect support and resistance level in the market.
There are many different ways of trading the forex market. Many traders use indicators and EAs to make a decent profit in the market. But if you consider the trading style of the professional trader then you will notice that they are not using the indicators and EAs at all. Professional traders simply use the trend line and the important support and resistance level in the market. They also rely on different chart patterns and price action signal to execute their trade in the market. In this article, we will be learning how the professional traders use the channel trading strategy in the Forex market.