Success in the foreign exchange market can only be attained if one is to take into consideration all the forces that influence the behavior of the currency market. As such, every forex traders should take heed of oil and its immense influence over the foreign exchange market as a whole. The price of oil has always been a vital gauge of the world's economy not only because the modern world is heavily reliant upon petroleum but also because the level of oil prices affect the performance of major financial markets such as the forex....
One of the most common situations, with which constantly has to deal any Forex trader is an unexpected and unpredictable movement of currencies prices that trigger market volatility. Generally, professionals are generally advise not to trade during high volatility or at least to learn detailed techniques of the various options and technical analysis tools that will prevent you from serious errors. Much of the most dramatic changes in the Forex market come suddenly and occur in the form of the enormous, incredible price movements that...
The two main concepts, the features of which must know each Forex trader, are the long and short positions. They are used to describe the process of buying and selling, on which basis is carried out all operations on the Forex market. The implementation of these operations is interconnected and based on the opening and closing positions. They determine the main direction of all transactions on the foreign exchange market: first buying a currency and then selling it when the price will grow. Thus, short and long positions define the profit...
The foreign exchange market, also called the currency market or forex, is the world's largest financial market accounting for more than $5 trillion average traded value each day. Comprised of banks, commercial companies, central banks, investment firms, hedge funds and retail investors, the foreign exchange market allows participants to buy, sell, exchange and speculate on currencies. There are a number of ways to invest in the foreign exchange market. If you are looking for a highly liquid trading arena...
One of the most common mistakes of beginners in Forex is that most of them ignore the need to doing a daily trading diary. Refusal of a reasonable and organized fixing of their success leads to the fact that the trader again and again makes the same blunders, restricting or completely denying himself any chance of progress. To make a diary you can use an Excel spreadsheet. It must include the following mandatory sections: The date and time of making a decision about your deal on the market. When did you make that decision...
