Whether you're a seasoned trader or new to the Forex market, the myths about Forex trading are always swirling around you. These myths can potentially affect anyone, no matter how long they have been trading. By knowing some of the major myths, traders can avoid unnecessary frustrations. While there are potentially many trading myths, we'll look at 10 that come up often and affect every stage of development – from why people get involved in Forex to developing strategies. Get rich quick Advertising has rapidly expanded the...
The U.S. economy is gradually recovering from the unprecedented scale of the financial crisis. U.S. could significantly accelerate the growth of GDP, its export was raised to record highs and unemployment was reduced. America's position is still far from ideal but it is much better than, for example, in Europe and some developing countries. In the last two weeks in the United States has been published many macroeconomic statistics, which showed that the country, as a whole, shows a very decent rate of recovery from the crisis, which in...
Analysis of the records of Twitter users enables to predict the movement of market indices with 70 percent accuracy, Russian economists discovered. It turns out that psychological state of people closely related with their economic behavior. Thus, an abundance of tweets with the words "fear", "excitement" and "hope" foreshadows the imminent downtrend of market quotes. For the first time the idea to predict the movement of the stock markets by using social media appeared in economists’ minds a few years...
A lot of forex traders do not fully understand how to use a stop loss order properly and think it is only to exit a trading position at a loss. This is a very big mistake new trader’s make. Successful and professional forex traders never use a stop loss order to close a position at a loss, but rather to exit a position at a profit before price action reverses. Professional traders usually don’t use a stop loss order in order to exit a trade at a loss, only new and inexperienced traders do so. Professional traders hedge their...
As you study more about forex trading and especially technical analysis you will come across a technical term called Fibonacci Retracement Levels. It is a very popular indicator for major support and resistance levels and plenty professional traders use those levels as part of their overall trading strategy as the Fibonacci sequence is a very accurate sequence when it comes to trading. What is the Fibonacci sequence? The Fibonacci sequence was introduced by Italian mathematician Pisano Bogollo to the Western world and can be found...
