It is a vast global network, incorporating hundreds of different currencies in markets that rarely close and that contribute trillions of dollars worth of trading every day. But despite all the inherent complexities, it may surprise you to know that most people trading forex successfully actually try to keeps things very simple. Most traders initially believe that by making their systems increasingly complicated, they are making positive steps to improve their trading in an attempt to out smart the rest of the...
A simple truth of trading is that markets are often moving sideways, neither trending up or down. The term is derived from the phrase choppy seas, where a boat will move a lot but not over any large distance as waves prevent it from moving any meaningful distance. In forex, choppy markets are those which have no clear direction such as a sideways market (not a nice clean ranging market), but a really churned up mess which make traders lose sleep at night. This is where previous gains can be quickly wiped out and it’s a deeply frustrating...
The time frame on which a trader opts to trade is an important decision. Day traders open and close multiple positions within a single day, while swing traders take trades that last multiple days, weeks or even months. They are different trading styles and will suit different people depending on capital available, time availability, psychology and also which market is being traded. Between day trading and swing trading, one style isn't better than another. It is just preference, and which style suits the trader's personal...
The rate of inflation in a country can have a major impact on the value of the country's currency and the rates of foreign exchange it has with the currencies of other nations. While exchange rates can be subject to myriad factors in intraday trading – from market sentiment, breaking economic news, and cross-border trade and investment flows – inflation and interest rate policy are often important indicators for exchange rate trends and they can help traders gain an idea of what is likely to be a profitable trade for foreign...
Hours during which forex market participants are able to buy, sell, exchange and speculate on currencies are called forex market trading hours.The forex market is open 24 hours a day, five days a week. Because this market operates in multiple time zones it can be accessed at almost any time. The international currency market isn't dominated by a single market exchange but involves a global network of exchanges and brokers around the world. Forex trading hours are based on when trading is open in each participating country. It is no...
