One of the many advantages of the forex market is that it is open for trading 24 hours a day. Unlike the stock market, the currency market works according to the normal business hours of the three business centers spread across different time zones. Traders have the freedom to trade as and when they choose, depending on their particular interests. Objectively, there is no such thing as the best time to trade forex for any one trader - it all depends on individual preferences, aims and strategies. The trading day consists of multiple trading...
The foreign exchange market is a network of financial institutions and brokers in which individuals, businesses, banks and governments buy and sell the currencies of different countries. They do so in order to finance international trade, invest or do business abroad, or speculate on currency price changes. On average, the equivalent of about $5 trillion in different currencies is traded daily in the forex market around the world. One of the major players we have in the forex market are the banks. There are hundreds of banks participating...
Having a solid forex trading education is the starting point for any successful trader. No matter where you want to be or what you want to do with your forex trading, you need a solid education that will serve as the foundation for your trading career. Almost all literature on self-improvement or wealth creation shares one common theme: the power of education. However, how you are educated is as critical as the knowledge imparted. Trading is a journey that can last a lifetime. While the idea of buying low and selling high might sound simple...
Day trading is another short term trading style, but unlike scalping, you are typically only taking one trade a day and closing it out when the day is over. Day trading are suited for forex traders that have enough time throughout the day to analyze, execute and monitor a trade. If you think scalping is too fast but swing trading is a bit slow for your taste, then day trading might be for you. A day trader is a trader who adheres to a trading style called day trading. This involves buying and subsequently selling financial instruments (e.g....
Most traders initially believe that by making their systems increasingly complicated, they’re making positive steps to improve their trading in an attempt to ‘out smart’ the rest of the herd. Complicated trading strategies and technical analysis, although sometimes psychologically appealing, can be very counterproductive to the bottom line. As in most things in life, simple is truly better when it comes to trading strategies. A KISS trader, therefore, applies the KISS principle to the world of trading and investing. The acronym K.I.S.S....
