There are several ways to classify traders but one of the most significant differences is the one between short term and long term traders. Traders in both camps may use technical and fundamental analysis and stop and limit orders in very similar ways but with some important differences that can lead to disaster if not properly understood. While trading style depends on a trader’s personality type and risk appetite, most forex traders usually prefer and apply short-term trading strategies in the market. Forex long term or short term...
China continues to metamorphose from an emerging economy dotted with villages and farm communities into a fully developed economy. Urbanization, the move from farmers into cities, is one key aspect of this transformation. Another milestone was reached after China’s most rural province, Henan, announced that 50.2% of its 96 million residents now live in urban centers as of the end of 2017. Henan is the third most populous province in China and is often called the ‘Granary of China’ because it produces roughly 10% of the Chinese food supply. At...
For professional traders, the analysis of support and resistance levels in the foreign exchange market is a key component of the technical analysis. In forex trading, currency pair prices often consolidate within a horizontal trading range, it is therefore important that one knows how to take advantage of these support and resistance areas. Support and resistance form an important aspect of trading the forex markets. They are not constant and continue to change constantly as the market dynamics continue to change. Understanding support and...
US President Donald Trump and his administration view cheap steel imports as a threat to national security and he often pointed out to China dumping cheap steel on the global market. While President Trump has in the past changed his opinion on proposals, it appears that his proposed 25% tariff on imported steel is something he wants to force through. Global as well we domestic criticism about this move are elevated as it will initiate another world war, this time not militarily but economically through a trade war which will leave many victims...
Like any new venture when you trade foreign exchange markets for profit you need to be prepared, by learning the right skills to succeed. It looks easy but the fact is 95% of new currency trading accounts are soon wiped out but this is normally due to poor currency trading education and training, rather than an inability to learn to trade successfully. Traders who fail tend, to have no forex training or get the wrong education, believe the hype promoted about what is needed to succeed and finally, most traders even with good systems fail to...
