Traders, who trade on the foreign exchange market – Forex- always follow the trends and economic forecasts in order to be able to predict possible changes in exchange rates. Some market participants are guided by reports on GDP growth, or by trade relations among countries. However, it is possible to predict the results of such reports, basing on the state of the stock market. After all, it is there goes information from thousands of companies worldwide that provide daily hundreds of reports. This can be a useful source of...
The value of a country’s currency is affected and largely influenced by various economic indicators that reflect how a country is performing. The macroeconomic events that take place internally and internationally are factors that will have a huge effect on the value of a currency. As a forex trader you need to be constantly on top of these data – always ready to read and interpret reports as they are released. When you talk with the more successful investors and traders in the forex market many of them will lay claim to the...
Market analysis is an essential attribute of a successful trading on Forex. Today the currency market has reached enormous proportions, market participants are faced with large flows of information that influence Forex market in one combination or another.Thereby, the value of a reliable market analysis is very high, and no news or rumor could be ignored, as they might cause significant fluctuations on the market. Market analysis is also very important for better understanding of the market conditions; after all, successful trading is...
Fоrex scаlping is a pоpular quick trаding method invоlving swift оpening and clоsing of trаdе pоsitions. In this mеthоd thе trаdеrs keep their pоsitions open only for a few seconds or at the most 2-3 minutes. A majority of scаpers hold their positions for as short as one minute. The bаsic idea behind scalping is to make small chunks of profit consistently and thereby increase the overall profit. The swift opening and closing of the trade exposes the trading account to lower levels of risk. Scalping is done with huge аmount of funds. So,...
Currency trading is full of plans, strategies, systems and rules so it is very easy for a beginner to get confused. In order to succeed in forex trading you need to be organized, disciplined, and alert to the market. However, when you trade currencies it is important to know the difference between two of your most important tools; your forex trading plan and your forex trading strategy. A formal document which describes the currency trading scope, trading goals and expectation of the trading outcome is called Forex Trading Plan. A trading...
