When it comes to forex trading, there are literally a thousand different ways to make money. Everything from algorithmic trading to using simple price action and everything in between. Some folks have a passion for fundamentals or coding and therefore need to follow that passion in order to achieve consistent profits. But among the myriad of ways to make money in the forex market, there are certain truths that remain constant regardless of the path you choose. Forex trading requires psychological features of strength, which most new...
Lately, currencies have been on a rollercoaster ride with record breaking highs and lows. The world of foreign exchange is dominating news headlines; but what does it mean, and more importantly, what do you need to know before you get on board. As technologies have improved, the forex market has become more accessible resulting in an unprecedented growth in online trading. One of the great things about trading currencies now is that you no longer have to be a big money manager to trade this market. Forex is indeed a big market and thus...
Range trading is a non-directional strategy which is based on the underlying assumption that 80% of the time, price action does not trend, but rather channels. Range trading offers several advantages including simplicity, and defined risk reward parameters. By focusing strictly on price movements and congestion points on the chart, range trading allows traders to ignore news-flow and simply concentrate on well defined areas of support and resistance. During moments of limited market volatility, an ideal opportunity presents itself to profit...
Despite the home based setup and easy market entry, forex trading is a challenging and elaborate profession to profit from. It demands valuable experience, calculated risk, good strategy, careful planning and trading discipline. The first point you need to understand as a part of your forex education is your success will not just depend on your method but your discipline to execute it. The discipline sets the pace for proper executions, effective trading routines as well as a goal driven mindset. Forex trading concepts and techniques are...
Forex market is decentralized and there is no central agency that controls the market. However, there are several government and independent agencies that supervise the working of these markets. These regulations are meant to have proper processes for smooth running and to avoid the scams and unethical practices to protect the investors. These regulatory agencies are country or economic zone dependent and could be governmental or independent. Speculative trading in the retail forex market continues to grow. As a result, there can be...
