After you open your forex trading account and log into your MT4 trading platform you will see a range of currency pairs offered to you which you can trade and earn pips from. Once you are logged into your MT4 trading platform, by default you will see the Market Watch window on your left side (in case it is not visible simply click View in the top menu bar and select Market Watch). Left click the Market Watch and from the drop down menu click Show All. What did you just do? You have now access to all instruments offered by your forex broker...
The obvious answer is to make a deposit, but this is not the only way you can grow your forex trading account. Making a deposit should be your first step and for most traders that is how you start which is also the most efficient way to get started, but there are many new traders who may not have sufficient funds and making a sizeable deposit is not possible for them. No need to give up just yet as there are other, less efficient ways to arrive at the goal of having a funded forex trading account. Let’s stick with the deposit method for a few...
This is a hotly debated topic in the forex world. Most forex brokers offer them and there are even no deposit bonuses. First let us take a look at what the difference is between a deposit bonus and a no deposit bonus. A forex deposit bonus is a bonus added to your account after your make a deposit, hence the name. These bonuses can be as little as 10% or as high as 100% and are at the discretion of the forex broker. A no deposit bonus is a bonus added to your account with a deposit so you can test the platform and place trades such as the $7...
Gold and exchange rates - these two tools of trade always had a pretty close relationship. Traders can use this factor to predict the trend for the currency pairs and the price of this precious metal.The primary factors that influence this relationship are the dependence of the economy on the price of gold and a place of a particular currency in the global currency market. First of all the price of gold affect the value of the currencies of those countries that are its main producers, for example, Australia, which on average produces about...
Many inexperienced forex traders and those who have failed at trading forex are quick to dismiss forex trading as gambling. Lack of knowledge and frustration are the two biggest contributors of this misconception. Forex trading is nothing like gambling, but many fail to understand this. Cynics will point to the high failure rate of successful forex traders which in turn can be partially attributed to the mindset that forex is indeed gambling. One of the biggest mistakes new forex traders make is to approach trading forex with the gambling...
