Understand the concept of probability is to know your chances of survival given your chosen trading systems. Trading is a game of probabilities in which when we are trading well, we still win and lose. A loss does not necessarily mean we made the wrong decision, it is just a reflection of market randomness. To cut through random market behavior, we must learn to think and trade in probabilities. Good forex traders analyze the markets and speak in terms of probabilities, not sure things. In reality, experienced traders usually speak in...
The Turkish Lira has been under severe pressure all year long. It reach an all-time low against the US Dollar and has contracted in value against all major currencies. On the surface it would appear that Lira bulls, if there are any out there, may have to endure more uncertainty which could continue the downside pressure on the Turkish currency. Turkish President Recep Tayyip Erdogan has called snap elections which are scheduled for June 24th. He is widely expected to win the election and he aims to turn Turkey into a full presidential system...
Over the last few decades, traders have begun to use candlestick charts far more frequently than any other technical analysis tool. Candlestick charts have a simple, easy-to-analyze appearance, and provide more detailed information about the market at a glance than bar or line charts. Candlestick charts are a technical tool that packs data for multiple time frames into single price bars. This makes them more useful than traditional open-high, low-close bars (OHLC)or simple lines that connect the dots of closing prices. The most popular...
There are many things that can prevent a forex trader from becoming successful, but one of the worst is being their own enemy in forex trading. Trading the forex market from the comfort of your home computer chair can offer a huge amount of freedom, a nice secondary income stream, and when it is done wrong – enough stress to turn your heart inside out. Forex is a psychological journey, but our own biology may have an important role to play. Research shows that could be to our genes and hormones to compensate. No surprise that in most human...
Developments in Asia are heating up and changes are on the horizon. Many of the Asian currencies are thinly traded or out of reach for the retail sector, but the Japanese Yen is the go-to currency when it comes to carry trade, hedging, risk management and Asian exposure. Many often overlook the Australian Dollar, a major currency, as well as its smaller neighbour the New Zealand Dollar. Analysts expect turbulences and uncertainty ahead for the Asian region and today we will take a closer look at the Australian Dollar and the New Zealand Dollar...
