Determining the amount of money you need to start down the path of trading for a living is a complex process and one for which there are no shortcuts. Contrary to popular belief, you don’t need a lot of money trading forex. You can get started in forex trading in any amount you like. Thankfully the (foreign exchange) forex market is the most accessible financial market, only requiring a small amount of capital to open an account. Everyone comes to the forex market for a reason, ranging between solely for entertainment to...
Foreign exchange (forex), is an international market for buying and selling currencies. Trading currencies is the act of making predictions based on minuscule variations in the global economy and buying and selling accordingly. Contrary to what you might hear from investment advisers on TV and radio, there are more than one or two “right” ways to invest. In the real world, there are hundreds of ways to invest, each appealing to a different kind of person. Trading foreign exchange on the currency market, also called trading forex, can be...
Technical analysis is the study of historical price action in order to identify patterns and determine probabilities of future movements in the forex market indicators are used by technical analysts to help interpret price data and generate tradable buy and sell signals through the use of technical studies, indicators, and other analysis tools. Foreign exchange indicators and charting software can be a great deal of help for savvy traders who know how to use them when trading the forex. Technical indicators are mathematical calculations...
One of the major costs of forex trading you can encounter beyond the commission or spreads is the slippage that can occur when placing trades. Slippage is the delay that can occur between the time you place your order and the time the order is executed at the exchange or execution venue. The more latency in a traders systems or brokers, the larger the time between the order being placed and execution the larger chance for slippage to occur in online trading. Although it is habitually considered bad, slippage doesn’t necessarily give a...
According to Psychology Today, all habits are linked to an instinctive action. These constant behaviors eventually form into a habit and dictates your level of productivity. All traders should have a good trading plan. One of the worst bad habits a trader can have is trading impulsively and without any guidelines. Traders who take the time to make a trading plan are much more likely to succeed, but even with a plan in place we can develop bad habits. In order to break bad trading habits, traders need to base success or failure on each...
