Paper trading defines a simulated market environment in which the participant writes down buying and selling decisions, rather than placing actual orders at a brokerage. A paper trade refers to using simulated trading to practice buying and selling securities without actual money being involved. New traders are often instructed to paper trade until they learn basic strategies, while many experienced traders utilize the practice from time to time, especially when working on new ideas and approaches. Paper trading is...
Fibonacci levels can be considered as a very strong price indicators in the forex market. A trader can successfully use this tool alone or in combination with other indicators. When using Fibonacci indicators it is necessary to determine long-term highs and lows. You can look back at a few days, weeks or even months. The goal is to find the very obvious support or resistance levels (ie week highs, monthly minimums, etc.). The main condition of a successful usage of Fibonacci levels is orientation only on the most obvious highs and lows. Why...
Forex beginners often hear that they should trade in line with trends in the market. And it makes sense. But what if the market is not trending? Sometimes the movement may be in a certain range within a few months. How to make money then? The good news is that the range, created within the market, it is nothing more than support and resistance levels, between which lies a market movement. The market is not in a range Thus, the trading range can be very good in terms of trade, it lets you know where to buy and sell. You sell when the price...
Today forex market received huge popularity. Traders tend to become not only those with higher financial education, but also ordinary students. The reason for such a situation is quite simple - the pervasive advertising promises huge profits with minimum investment. However, many so-called traders do not even think about what is forex - strategy, trade for them appears to play in the casino. Such an approach is totally wrong and can result in loss of a significant part of the deposit. Trade management can be difficult for new traders,...
Understanding and proper locating of support and resistance levels are absolutely necessary in order to make money in forex trading. Support and resistance levels, especially when used with other interpretations of the price action, are far superior to the degree of effectiveness than the lagging indicators, if you know how to use them. The problem is that many beginners do not use these figures properly. Here are some tips to help fix this problem. Do not draw support and resistance levels to confirm your trading idea. You may have read...
