Traders have many tools at their disposal in order to trade the strategy of their choosing. These tools come in the way of different orders that allow the trader to enter and exit the market at their convenience. When you execute a trade in the forex market it is called an ‘order’, there are different order types and they can vary between brokers. All brokers provide some basic order types, there are other special order types that are not offered by all brokers though. The number and types of currency trading orders that...
Forex trading is a journey that can last a lifetime. Forex trading education is important because as simple as it is to get in and out of markets these days, it is still a serious matter that requires thought and knows how. Fast-paced, tempestuous, and volatile, the currency markets take a skilled eye to decipher them, and an even more talented brain to unravel them. The world of foreign exchange trading is complex, with new terms to learn, strategies to develop, markets to understand as well as experience to gain. Things are not always as...
Forex trading is becoming global phenomena due to recent advances in technology, internet networks and social medias. One of the reasons the forex market has become so popular is largely due to social medias. Many of the leading social networks are home to top forex brokers, all advertising their services and providing traders with beginner information that will help them get started in this amazing market. When Facebook superseded Google as the world's most visited online resource in 2010 according to comScore, the trend...
The interest rate differential between a pair of currencies can either be your best friend or your worse enemy when trading forex since it affects forex rollover rates. Forex rollovers affect just about any trader that holds positions overnight, and can have an especially strong impact on a carry trade strategy. Furthermore, this important interest rate effect gets magnified in currency pairs that have a high interest rate differential between the currencies involved. Rollover interest, otherwise known as rollover for short, is basically...
One of the key elements for successful trading is consistency. If we don’t trade consistently, we actually don’t know whether we should be changing, what we should be changing, or how we can improve. Many individuals that first venture into the world of forex trading do so because they believe that it is a lucrative way to make fast money. Some may even see early success in demo trading. However, the chances are that as soon they jump from being a demo trader to trading with a real money account, they begin to realize...
