What are EA’s? Everyone who is trading forex came across EA’s or at least should have. EA stands for electronic advisor and many know them as forex robots. This is basically a coded trading strategy which will execute a trading strategy automatically without the forex trader being present. EA’s or forex robots are very popular and plenty of marketing is spent on them by their creators. There are countless of EA’s available, some are free of charge while others are offered for a fee. 3 Reasons you should avoid EA’s #1: They are often designed...
All eyes have been on the European Central Bank since it started to reduce interest rates last year which led to its main interest rate at 0.05%, its marginal lending facility rate at 0.20% and its deposit facility rate of -0.20%. The negative deposit facility rate was previously tested by the Danish central bank without success, but the ECB tried to discourage deposits by all means necessary and therefore charges banks for accepting deposits. After the announcement of a quantitative easing program through the means of sovereign...
Today we will take a look at four tools which every forex trader needs to possess in order to be able to succeed in the forex market. Without the four tools which we will briefly describe below any quest into the forex trading is likely to fail and leave new traders not only with disappointment, but also with heavy losses which will result in an exit from trading forex. Not having the right tools is one of the biggest reasons why many new forex traders fail to earn a consistent profit. A Good Forex Broker: Every forex trader needs to be...
Over the past two weeks forex traders received a handful of labor reports which have painted a tale of two different stories. All three reports moved their respective currencies, but one thing became obvious: most traders and economists were just wrong about their assessments and hopes. While big moves developed after the release of those employment reports, a bigger picture is unfolding and forex traders should prepare for longer lasting reversals especially if the trend continues. Today we will take a look at three reports released this...
Have you heard the term commodity currencies? Those of you who have not come across this term yet are likely to read it rather soon as you educate yourself more about forex trading and broaden your knowledge. This term is a very popular and accurate term to describe a group of currency pairs which every forex trader needs to be aware of and understand as it will result in an increase in profits as you understand what impacts them. What are commodity currencies? Commodity currencies are currencies of economies which are heavily dependent...
