Every month, certain currency pairs have interest rate decisions which are made available to the public at certain time and dates. The biggest influence that drives the foreign-exchange market is interest rate changes made by any of the eight global central banks. Interest rate announcements are some of the big currency market-moving news every month and the only way to be aware of when this forex news come out is by having a forex economic calendar. These changes are an indirect response to other economic indicators made throughout the...
One of the biggest differences between the professional and the amateur traders is the general approach to their daily trading. Whether you are new to currency trading or a seasoned trader, you can always improve your trading skills. Trading is a business and like any good business, it requires trading discipline and positive habits to have the best chance at success. While the professionals follow a well laid out routine that allows them to find the best trades every week, the amateurs just stumble from one bad trade to the next bad trade and...
Forex trading is accessible, exciting, and educational and offers traders lots of opportunities. Despite all this, many traders fail to achieve good results in this market. Successful traders often have a set of unique characteristics or traits that set them apart from the crowd. There are a number of characteristics that help a forex trader to be successful. These characteristics may include discipline, passion, focus, determination, confidence, and commitment. All these characteristics can also be used to be successful in any trade if...
The last Federal Open Market Committee (FOMC) meeting of the US Federal Reserve for the year 2017 will start today. All meetings last two days and the Federal Chairman will announce the results during a press conference after the meeting has been concluded. Many Fed watchers predict the outgoing Federal Chairwoman Janet Yellen will announce an interest rate increase of 25 basis points. This will leave the official Federal Funds Rate at an upper bound level of 1.50% and a lower bound level of 1.25%. This compares to the current upper bound...
No matter what kind of financial instruments you are trading, there are two common requirements for becoming consistently profitable – a set of sound trading strategies and an excellent money management system. Properly tested and successful trading strategies are crucial for surviving the financial markets’ intense competition. You are doomed to fail if you adopt a trading style which is based on chaotic cross-betting (entering positions on many different assets without following a thoroughly-tested and proven trading system). Forex traders...
