Everyone, who comes to the Forex market, almost immediately asks this question to yourself first, and then chatting it on forums or with technical support. Let’s begin with explanation that the profession of trader is practically no different from the others. You should be a professional, as in any other profession. If so, then you earn. If not - you lose. Do not expect that you will consistently earn on Forex during the first months. Such expectations are not realistic. You must understand that a lot of effort and time you have to...
It is much known that a lot of forex traders especially beginners are losing money and are failing. In fact, it is estimated that around 95% of forex traders are losing money and end up quitting. The reasons for this high percentage of forex traders who fail are also much known to most of the traders: starting with low capital, trading without a strategy and trading plan, trying to make a lot of quick money, trading without risk management etc. Forex traders who are trading with small accounts and try to make a lot of easy money without any...
First New Year’s week was noted by the publication of data on the Chinese PMI. This event caused the increased volatility of the Forex market by the end of the week. The data was quite weak and this factor forced some traders to replace their “landmarks” in favor of the Japanese yen. Chinese PMI totaled 51 points, while the projected figures were about 51.2 points. Also, this event was related to rebound of USD/ JPY from already formed at the end of last year long-term maximum. The British pound also came under pressure...
There are plenty of articles online which talk about the positive aspects of forex trading and things to do in order to become a better trader. Those who succeed as traders will be able to enjoy plenty of great benefits which make the hard work required to achieve consistent profitability well worth it. Trading successfully means working on your trading skills every single day and seeking to improve your trading strategy, entry level, exit levels and risk management. Very few talk about what one trader should do after faced with a trading...
The trading technique described in this article is one of the trader’s entry techniques available for traders. This one comes with the Simple Moving Average period 12 (SMA 12), and the Commodity Channel Index period 20 (CCI 20). Here, the way the CCI is used is unique because it isn’t according to the uses suggested by the conventional trading wisdom. Conventional trading wisdom suggests that any CCI reading above the +100 level is an overbought situation (which would make a trader seek short trades), and any reading below the -...
