Every trader wants to know for sure what will happen next. Knowing where the price is headed essentially dictates your success, by simply having you bet on the right horse. However, as you probably already know, forecasting Forex is not as simple as it may seem. In today’s discussion we will explore the most common solutions to how to predict market direction in Forex. Predicting Daily Market Direction Forex forecasting can be compared with trying to predict the weather. There are two main factors that take effect: past data and...
Forex Charts Basics Graphic Chart Types on Forex Forex Bar Charts and Candlestick Charts Forex Charts in Technical Analysis Successful traders always base their decision on the results of market analysis. Otherwise, it’s gambling, not trading. A Forex chart is the key tool to seeing the big picture and planning ahead. Today we learn how to analyze Forex charts and use them for the most profitable trading outcomes. Forex Charts Basics First things first, what is a chart on Forex? Very simple: it is a graphic representation...
Some trading strategies are more complex, others are based on very straightforward principles. The Forex 100 pips daily strategy is one of those that have a very simple premise. Today we will discuss everything you need to know about the 100 pips trading strategy. 100 Pips a Day Strategy Formulation The Forex 100 pips a day strategy definition is very obvious: the main objective of this approach is to gain a profit equal to 100 pips during one trading day. Now, if you are new to trading, you might not yet have an idea of just how...
Smart risk management is vital to successful trading. Utilizing tools like SL and TP is a complete game changer for those, who haven’t previously considered setting automated orders. Today we will discuss what is SL and TP in Forex trading and how to use them effectively. How to calculate SL and TP in Forex For starters, what is the meaning of SL and TP in Forex trading. SL is an abbreviation for Stop Loss, and TP stands for Take Profit. These two tools are extremely helpful in pretty much any strategy. The way they work is...
NFP report is one of the most powerful drivers of the Forex machine. Traders across the globe have their own ways of benefiting from its release. Today we learn what is NFP trading and how to trade NFP report successfully. What is NFP Trading NFP is an abbreviation for non-farm payroll. It represents a summary of data that plays a key role in the US economy. As partially obvious from the name, NFP includes information on various employment related factors in every field except for farming. Employment rates in general are one of the...
