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You may want to start this new year by trying different types of investing. But with lots of different markets to invest in, it can be hard to know where to focus your attention. If you are starting to explore different options and wondering what Forex trading is, then you’ve jumped to the right place. In this topic, I’m gonna breakdown the procedure of currency trading in simplified words. Let’s dive right in, shall we? But first of all, what is Forex trading? Forex trading, which is the same as currency trading, is the conversion of one currency into another. It is one of the most actively traded markets in the world. Individuals, banks, and businesses carry out millions of forex transactions every single day. Here are some key things you need to know about Forex trading: It’s global There is no central exchange for Forex trading. It’s not like you are using the London Stock Exchange. Instead, it is traded via a global network of banks, dealers, and brokers. This means that trading happens 24/7, Monday to Friday. Prices are quoted in pairs When looking at currency prices, you will find them in pairs. The currency you are selling and the one you are buying. One currency is the base currency, the other is the quote. The difference between the two is known as the spread. In very basic terms, you would buy a currency pair if you thought the base currency would strengthen against the quote currency. You would sell if you thought the base was going to weaken against the quote. The market can be volatile The extended trading hours and the global nature of Forex trading mean that it can be quite volatile. Prices can be affected by things such as interest rates or government policies. And as Forex traders are in it for profit, price movements on some currencies can be quite extreme. Is it legal in the UK? Forex trading is completely legal in the UK. In fact, we are known for our regulation and reliable companies. If you are interested in dipping your toe into the Forex trading pool, then maybe look for an FCA-regulated broker. This will then offer you some protection, and you can be confident that they are a straight-shooting business. Why trade this way? You may be wondering why you should use Forex trading when it can seem confusing and volatile. Well, it’s those characteristics that mean that you can potentially make big gains from it. The volatility of Forex trading means that you could find yourself making a decent sum of money speculating on price movements. However, be warned: this could also work against you, and you could expose yourself to losses. Meanwhile, the 24-hour nature of the market means that you can take advantage of different activity sessions. You are not tied into a central exchange, so you can make the most of the freedom. Finally, it is a big market. Large numbers of buyers and sellers are trading away at any one time. So if you decide to try Forex trading, you will find that transactions are completed quickly and easily. Besides, the brokers will also provide you with welcome bonuses ( No deposit bonus) in order to trade for the first time. And ‘spreads’ (don’t worry, I did mention them earlier) are tight. So the underlying market price of the pair won’t need to move a huge amount in order for you to be able to make a profit.

Traditional currency trading has been a prerogative for multinational corporations and affluent investors for decades now. The Forex market has, however, opened up the financial market to the youth and average investors. Since the last few years, Forex trading has gained firm ground and emerged as a popular career for financial and non-financial professionals. High liquidity, 24/7 schedule, easy accessibility, low capital requirements, and ease of entry makes forex a superior trading platform. Forex investment is the largest financial market globally and trades nearly $2 trillion every day. Cryptocurrencies like Ethereum, Bitcoin Cash, Ripple, Libra, and Monero are some of the most hyped-up digital currencies of 2020. Business and finance professionals can strike up stellar PowerPoint presentations with professionally tailored templates like the Cryptocurrency PowerPoint template from SlideModel. Graphically present the concepts of blockchain, digital coins, and benefits of cryptocurrencies to hook your clients. The field of cryptocurrencies is thriving, and the next digital token may bring fortune, for all anyone in the crypto community knows. Forex investment is lucrative, flexible, and highly engaging if performed with the right tips and tricks. Although profitable, it can also lead to severe losses owing to its high risk and volatility. There are some basic rules and skills any forex investor should practice. Here are 12 golden tips and tricks for you to follow to be a pro at forex investment: Pick the Right Goals and Strategies To have a set trading plan is a critical component of successful forex investment. Assess your profit goals, risk tolerance level, methodology, and evaluation criteria for a strategic plan. Pick a suitable trading style with which you are most comfortable. Pick position trading if you aim to invest your funds for the long term. Opt for day trading if you have a goal of purchasing and selling security within a single trading day. Define a time frame with comprehensive risk/return analysis for a remunerative outcome. Do Not Rush, Start With Gradual Investments Consistency is the key to forex trading. A fantastic tip for FX trading is to start with small sums, and low leverage, which will eventually add up to your account as it generates profits. The temptation to jump straight in with big money trades is real but, an insight here is, to begin with, small investments and take your time. For a successful FX investor, it is a requisite to practice patience and stick to a discipline. Be realistic with your targets, goals, keep abreast of the latest news, and keep your emotions in check. Suitable Brokers With the Right Platform Always be wary of the FX broker that you choose. Ensure that they are dependable, authorized with a license, and, most importantly, supplement your trading style. Research and educate yourself about every broker’s policies in the market, their client profiles, trading software, and expertise level. You must be in alignment with your broker’s platform. For example, if you want to trade off of Fibonacci numbers, the broker’s platform should be able to draw Fibonacci lines. Control Your Entry and Exit Rules Forex investment requires an exhaustive comprehension of trading skills. Do not get confused with information by looking at charts in different timeframes. A buying opportunity on a weekly chart might show up as a sell signal on an intraday chart after a while. Keep your charts in perfect synchronization i.e. if the weekly chart indicates a buy signal, wait until the daily chart also establishes a buy signal. Also, Overtrading can result in a lack of concentration and reckless trades. So, tread carefully! Concentrate On Single Currency Pair, Expand As You Profit The cryptocurrency world is known for its complicated and deep chaotic nature of the markets. To avoid a heavy loss, it is vital to restrict your trading activity to a currency pair with which you are familiar. To begin with, start with the trading of the currency of your nation. If you choose differently, stick to the most liquid, and widely traded pairs. It is an excellent practice for both the beginner and the advanced traders. To be a master of FX trade always follow the news and rates of major currency pairs. Employ Charts To Comprehend Forex Statistics It is pivotal to quickly grasp the knowledge for analysis of each trade when investing in multiple markets at the same time. Charts with their visual appeal can provide you with an easy to read visual of dense numeric data. To attract your Forex investors, incorporate your slide decks with 100% editable financial templates consisting of gripping graphics and charts from SlideModel. Leverage project timeline template, finance, and investment template and much more to integrate to create a perfect pitch deck with charts imbibed with forex statistics. Learn More, Earn More A great FX investor always takes his time to study the currency pairs and what affects them before risking their capital. It is a valuable investment in time that could conserve your money. Diligently analyze the latest trends, news, and financial processes. Do extensive reading and illuminate yourself on everything related to Forex trading. The complexities of the market will be unchallenging for you if you educate yourself on money management. It is all about minimizing the losses and maximizing profits. Calculate the Expectancy of Your Investment To measure how reliable your forex investment system is, always calculate the expectancy. Analyze all your previous trades in which you gained and lost, then determine how profitable your winning investments were against your losing trades. Examine your last 20 investments. Total all your won trades and divide the answer by the number of winning trades you made. It will help you to determine your profit and losses. The formula is E= 1+(W/L)*P-1 where E is expectancy, W and L stand for Average winning and losing trade respectively and P is percentage ratio. Choose an Accurate Account Type, Leverage the Right Ratio Fx investment might come off as tricky at first, but once you ace at the basics it will lead to great merits. Pick an account package that is most desirable to your expectations and knowledge level. Lower leverage is always better for beginners. A standard account is perfect if you have a good understanding of leverage and trading in general. But, if you are beginning, it is essential to practice the use of a mini account. In general, it is always seen that the lower your risk, the higher your chances. Continual Analysis is the Key Risk analysis and probability form the backbone of Forex investment. A single method or designated style that will not generate profits all the time. Leverage your weekend when the markets are closed and study weekly charts to look for breakthroughs or trends that could affect your trade. To be a meticulous FX investor keep a diary or a journal of your trading activity where you carefully scrutinize your mistakes and successes to find out what works best for you and what does not. Follow and Learn About the Trends A golden Forex market tip to utilize is to learn about trends, how to spot them and use them to your benefit. Forex market volatility is conditional to international or local political and economic circumstances. Always be aware of every news that could affect a currency pair that you invest in. Current events move markets very quickly. Hence, if you stay informed on the market situation you can predict the movement of the forex market. If you are a beginner, it is advised to never trade against trends to avoid losses. To Know When To Stop Is Essential Greediness in forex investment might lead to inessential risks. Plan your investment with maximum acceptable loss and your target profit. Once you reach either of these limits, stop trading immediately. To succeed one should position themselves in such a way that the losses are harmless, while the profits are manifold. Trailing stops are expedient if they trail your position at a specific distance as the market moves that help you to protect profits, should the market reverse. Any transaction executed on the forex market is basically buying & selling of two currencies. You must understand the ‘currency pairs’, know about the base currency and quote currency. For example, Base Currency can be Euro (EUR), and Quote currency can be US Dollars (USD). When it comes to garnering knowledge to learn forex trading, the internet has a huge resource of webinars, ebooks, articles, and videos all having rich information. Forex investment demands a steep learning curve. Follow the maxims of perseverance, continual learning, methodical capital management techniques to be a prosperous Forex investor. The ability to take risks, robust trading plans, and an eye on the volatility of markets should always be kept in mind. FX investing is an art, and the only way to become proficient in it is through consistent and disciplined practice. Cheers! Also read: Compare Now | Demo Trading Vs. Live Trading

Alexander Graham Bell famously said, "Before anything else, preparation is the key to success". This is true for many professional fields, be it soccer, archery, or online trading. Forex rookies in South Africa have ample opportunities to learn. FX Brokers provide tutorials, articles, and other helpful content. However, preparation is not only vital for novices. Even experienced traders begin their day with preparatory steps. It is not enough to jump in once the market opens. You should spend time to get everything set, including your mind. What Successful Traders Have in Common Pros get ready for every trading day. Consistent profits require much more than pressing the right buttons at the right time. You need to see the bigger picture and pursue a solid strategy. Forex superstars share these strengths: 1. superb pattern recognition, 2. rigorous self-discipline, and 3. The right mindset. All of these skills may be developed through training. Learn what is Forex trading, and take advantage of opportunities in South Africa. FXTM and other reputable brokers provide a wealth of educational material. In Forex trading, your knowledge is your main weapon. There are two key systems of analytical work. Fundamental Analysis Currency rates are affected by a wide range of events of both political and economic nature. From domestic policies to geopolitical tensions, the scope of potential factors seems too broad to take in. However, with the economic calendar embedded in trading terminals, all relevant news is condensed into handy forecasts. Some of the most important indicators are GDP, interest rates, unemployment, trade balance, and manufacturing. Technical Analysis Adherents of the approach analyze recent market data to make predictions. No trend is seen as random. Traders focus on volatility and strength of trends, support and resistance, momentum, and other features. Psychological Preparation Do not disregard the value of mental preparation. It is bound to accelerate your learning curve, and help realize your potential to the fullest. Here is what you should do. 1. Shower This may seem like a trivial thing, but showering has a deeper meaning than just making your body clean. It activates your central nervous system, so you feel fully awake and ready for a full day of intense critical thinking. If you are a morning person, make it a habit to get up with the sun. This way, you will accomplish more. 2. Exercise Many successful traders start their day with yoga and meditation. This helps to stabilize your breathing and control emotions that could influence your trading behavior. Meanwhile, your body will be better prepared for hours of sedentary work. You could also spend a few minutes visualizing your trading strategy and goals for the day. A combination of these steps will program your mind for success. If you aren't keen on exercising, at least do a few stretches. 3. Review Do not think you can just turn on the laptop and start trading right away. Take time to think of your prior performance, and see what should be changed. Such evaluations must be carried out regularly — at least, weekly. Consistent success does not entirely rely on your skills. It is important to see what lessons can be learned from past experience, and incorporate them into your everyday practice. This is true for many professional fields beyond finance. For instance, soccer coaches watch recordings of their team's games, analyzing what went right and wrong. Poker stars make notes on game techniques, decisions, and their outcome. For Forex players, having a trading journal could be a great help. Keep screenshots of your trading moves and review those from time to time. 4. Mindfulness Traders often fall victim to the same human penchants. It is not easy to suppress the natural urge to take a shortcut, to make impulsive decisions, or choose the easiest way out. Develop your mindset, and psych yourself up before every trading day. Be aware of your own psychological inclinations, and the consequences they may have. Trading is more than just pressing the buttons at the right time — it requires composure and self-awareness. The Bottom Line Profitable trades are based on knowledge of the trends and the ability to foresee market movement. Consistent achievements require thoughtful preparation — both physical and mental. Start your day feeling fresh, and it will be easier to make the right trading decisions. Sharpen your mind like a samurai sword, and manage your funds thoughtfully. Self-control and discipline will bring impressive gains. Also read: Compare Now | Demo Trading Vs. Live Trading

There is no doubt that the Forex forums are the best way to interact with other experienced and well-minded traders if you are struggling to achieve success. If you’ve visited a Forex forum, you would have noticed that you can interact with a wide range of traders and know the techniques they use to generate more profits. The reason why the Forex forums are useful is that they give you the opportunity to connect with fellow traders who are experiencing difficulties and concerns that you’re going through. Some of the main benefits of a Forex trading forum: - You can learn from some experienced traders and become successful - Hanging out in a Forex trading forum would give you an opportunity to learn from experienced traders and the strategies and the Forex signals they use to get better results from trading. - It will also help you identify problems without the need to experience it actually. In fact, there is no substitute for experience. In fact, it helps you to fast forward your learning and avoid costly mistakes. - You will be able to get a clear understanding of Forex trading systems - You will always find someone on the forum who openly speaks of a Forex trading software that introduces the newly created person or they ran into another place. - Either way, you get to know new ways of trading and how these systems. You can then put them to use and benefit. The biggest advantage of learning from experienced traders is that you should never try and lose your hard-earned money. - You can also use the forum to get feedback on your trading system/strategy expert - If you have developed a new trading system or designed a new strategy, the Forex-forum is the best place to get feedback on the system or strategy. - Expert and experienced traders share their experience with the system or usefulness of the strategy designed by you. This will help you to incorporate changes or improvements to your system or strategy. - You stay up to date on what others are doing in the Forex world - Being a member of a Forex forum could help you get an idea of what others in the field are, or at least to think in terms of doing. - The idea is not to do whatever you take to learn but see for yourself if you agree with other Forex traders. You can catch up on the rumors that go around. - Rumors making the rounds have an impact on market performance, even if they prove to be false. In general, the rumors are not from the forums but often end up there. If you visit a forum frequently, you’ll be able to catch up on the rumors that you happen to miss. Forex offers an opportunity for social interaction Forum In reality, the primary advantage of a Forex forum will connect and socialize with other traders. Forex trading could prove to be an isolated activity. Every trader is looking forward to a kind of social interaction once in a while. A Forex forum presents traders with a great place for social interaction Here are some of the top Forex forums: Forex Factory Forum >> Forex Factory website was launched in the year 2004 and is designed to provide information to help traders succeed in the Forex market. According to Alexa, it is currently the related website Forex-most viewed. Forex factory forum also launched its website in the same year. Traders from countries around the world interact on their forums, share ideas, teach, learn, debate, and exchange war stories. Insightful members provide support to the forum and follow a moderate philosophy that puts trade above all else. Other features and products offered by Forex Factory include the economic calendar (launched in September 2005) with an impact rating; News Section (launched in July 2007); Market Section (launched in September 2009) consisting of scanner, sessions, and graphics; Trade Explorer (launched in February 2011) an interface that allows traders to analyze their performance; And Trades (launched in December 2011) that includes the trading activity in real-time members who use trade explorer; and brokers (launched in May 2012) an Advanced Guide in search of regulated Forex brokers. DailyFX Forum >> DailyFX is the new free site and searches for FXCM. It provides news from around the world in favor of the currency trading community. Analysts report daily on the latest changes, provide technical analysis and careful consideration of promising training table with live Forex quotes. DailyFX also provides an analysis of market drivers and explanations regarding the economic, technical, and political factors that drive the market. DailyFX Forum is available in English, French, German, Italian, Japanese, Swedish, and Spanish, among others. It is certainly one of the most active forums. There are about 24 sub-forums in categories such as education and research analyst, Traders Lounge, trade the markets with our analysts, Forex education, FXCM Support Account, and the platforms of negotiation and trading automated. MT5 Forum >> This forum is for users of the most popular Metatrader forex trading platform. It offers users a chance to benefit from the expertise of the members of the community, centered around this platform. Despite the fact that it is a forum for users of the MT5 platform, discussions on the most popular MT4 or MetaTrader 4 and in general on Forex trading are also encouraged. Forex TSD Forum >> Instead of displaying the categories on their home page, the forum brings all the latest and the most active discussions with links to sub-forums. This is very useful because it lowers the risk of traders displaying the question in the wrong sections and missed the comments of those concerned. The main strength of the Forex TSD forum is that it covers a number of niche areas, with trading MT4 sections and harmonic being the largest. Finally, Forex-forum plays a vital role in one’s trading career. With the help of a Forex forum, we can get many solutions for our problems and thanks to the experienced traders. So, which Forex forum you are using now? Please let me know. Also read: Compare Now | Demo Trading Vs. Live Trading

Not every Forex broker provides guaranteed stop loss, and most that do are not even regulated. Therefore, we did our own market research to find out the best brokers that provide guaranteed stop loss and are well-regulated: 1. XM XM is an internationally recognized online Forex and CFDs broker that began operations in 2009. Known for its wide range of assets, competitive spreads, and multiple trading account types, the broker is the best choice for online trading. Tradable Instruments It allows trading in more than 1,000 instruments and over 55 currency pairs from a single trading account. Other assets supported include indices, shares, commodities, precious metals, energies, and cryptocurrencies. Trading Accounts XM offers four trading accounts types – Micro, Standard, Ultra-low, and Shares. Each account has a different deposit requirement and provides the trader with favorable trading conditions. 80% of novice traders trade with no demo accounts and accounts lose money. A demo account is also available to avoid complex instruments. Minimum Deposit Traders are required to deposit a minimum of $5 for using the Standard and Micro accounts, while the XM Ultra-Low and XM Shares account holders need to pay a minimum of $50 and $100, respectively. Trading Platforms XM allows the trader to trade with the two most popular Forex trading platforms – Forex MetaTrader 5 and MetaTrader 4. Both platforms can be accessed via the web across all devices as well as the mobile app. Spreads and Commissions The broker offers the lowest possible spreads and commissions fees that vary with the accounts. However, it charges no fees on making deposits or withdrawals. You can also know more about its trading charges on our expert’s review page. Regulation The Forex broker is regulated by the Australian Securities and Investments Commission (ASIC), the International Financial Services Commission (IFSC), and the Cyprus Securities and Exchange Commission (CySEC). Maximum Leverage Trading is made flexible with the same margin requirements and leverage ranging from 1:1 to 888:1. Margin requirements remain unchanged while leverage can be modified. Guaranteed Stop Loss XM allows guarantee fills on orders up to 50 lots at the best available market price. Research and Education The website of the broker has well-curated educational resources, which include market overview, news feeds, XM Research, technical summaries, economic calendar, podcasts, tutorial videos, webinars, and seminars. Customer Service The customer service is prompt and available in multiple languages. It can be reached via live chat or email or over the phone. 2. easyMarkets easyMarkets is another online forex and CFDs broker that was founded in 2001. The broker is quite popular among traders for making trading convenient through its innovative Freeze Rate and dealCancellation features. Tradable Instruments The broker offers an extensive range of over 200 instruments and more than 150 currency pairs. It allows trading in 8 asset classes, including forex, CFDs, indices, shares, commodities, precious metals, cryptocurrencies, and options. Trading Accounts easyMarkets offers three account types for trading – Standard, Premium, and VIP. These accounts have different deposit requirements and serve individual trading needs. It also offers a demo account (major traders with no experience with demo accounts lose money, to stop losses try demo accounts before a real one). Minimum Deposit Traders need to deposit different amounts depending on the type of account chosen. The minimum deposit for a standard account is $25, while Premium and VIP account holders need to invest $2,000 and $10,000 minimum, respectively. Trading Platforms easyMarkets trader gets the choice of trading through its proprietary web-based platform or MetaTrader 4 (MT4) platform or mobile app. All the platforms come with pre-installed technical and analytical tools that give a smooth trading experience. Spreads and Commissions Unlike its competitors, the Forex broker offers fixed spreads regardless of market volatility. However, spread requirements are relative to the trading accounts, instruments, and trading platforms. Deposits and withdrawals are free of charge. Regulation easyMarkets is authorized by ASIC and CySEC, making it a transparent and secure broker for online trading. Also, traders’ funds are kept safe with the regulators’ reimbursement schemes. Maximum Leverage Leverage ratio at easyMarkets varies with assets, trading accounts, and the regulators. The maximum leverage is 1:30 for European Union traders and 1:400 for Australian traders. Guaranteed Stop Loss easyMarkets gives the trader free access to guaranteed stop loss to stop runaway losses. It enables a trader to set a limit to the maximum risk when trading. The broker closes the trade exactly at the set rate, or when the market moves unexpectedly. Research and Education Its comprehensive selection of research and educational materials is an added advantage for novice traders. On the research side, traders gain access to market news, trading charts, live currency rates, and an economic calendar. The educational section has an engaging collection of trading courses, eBooks, and informative articles and videos. Customer Service easyMarkets offers easily accessible and satisfactory customer service during the trading week. Apart from the live chat, email, and phone, it can be reached via social media. 3. Plus500 Plus500 is a leading Forex and CFDs broker that was established in 2008. The broker delivers the best-in-class trading experience through its innovative financial instruments. The safety of traders is the utmost priority of Plus500, understanding which it keeps their funds in segregated bank accounts and uses SSL encryption. Tradable Instruments The broker supports over 2,000 instruments, including forex, CFDs, indices, shares, commodities, exchange-traded funds, options, and cryptocurrencies. Traders can take advantage of them to diversify their investment portfolios. Trading Accounts Only two account types are available for trading with Plus500 – Consider whether Retail or Standard account and Professional account. The two are different in terms of leverage, which is 1:30 for the Standard account and 1:300 for the Professional account. There is also an option for the demo account to sop losses. Minimum Deposit The minimum deposit requirement at Plus500 broker changes with the payment method used. For example, traders need to deposit $100 if they are paying via credit or debit cards or electronic wallets and $300 when paying through bank transfers. Trading Platforms As opposed to other mainstream online brokers, Plus500 has its user-friendly proprietary trading platform that is suited for web-based as well as mobile trading. Since it does not offer the MetaTrader platform, traders would miss some of the advanced trading features like automated trading. Spreads and Commissions Plus500 relies on instrument-specific spreads for making revenues. Though it does not charge deposit and withdrawal fees, additional fees could be applied in the form of overnight funding, currency conversion fees, guaranteed stop-loss fees, and account inactivity fees. Regulation The forex broker is highly regulated by the CySEC, the ASIC, the UK Financial Conduct Authority (FCA), the Seychelles Financial Services Authority (FSA), the Israel Securities Authority (ISA), and the Monetary Authority of Singapore (MAS). Maximum Leverage The maximum leverages offered under the Retail and Professional accounts are 1:30 and 1:300, respectively. Guaranteed Stop Loss Traders, who cannot afford to take the high risk of losing money, can add a guaranteed stop order to their trading positions when trading with Plus500. By limiting their potential losses, the broker ensures that they never lose more than their investments. Research and Education The broker has limited research and educational offerings, which include charting tools, economic calendar, Trader’s Guide, and video tutorials. Customer Service It offers 24/7 reliable customer service with live chat and email support.

On Friday the 3rd of August, trading on the euro closed down. High volatility was observed in light of the publication of the the US labour market report. July data on the number of those employed in the non-agricultural sector of the US did not meet market expectations. Although the data was below 189 thousand, the report is not bad, as the average hourly salary has grown and the indicators for May and June have been revised upwards. US 10-year bond yields fell on news of the report, with many major currencies closing in positive territory on Friday as a result. As a result of last week, major currencies closed in the red zone against USD. The greatest decline was shown by the British pound (-0.84%). Then came the euro (-0.75%), the New Zealand dollar (-0.68%), the Japanese yen (-0.23%), the Australian dollar (-0.03%), and the Swiss franc (-0.02%). The Canadian dollar was the only currency to record growth (+0.55%). US data: The number of new jobs was 157 thousand (forecast: 189 thousand). May figures were revised from 244 thousand to 268 thousand, and in June - from 213 thousand to 248 thousand. The overall revision amounted to +59 thousand. The unemployment level fell to 3.9% (previous: 4.0), which coincided with expectations. The average hourly earnings index was 0.3% (forecast: 0.3%, previous: revised from 0.2% to 0.1%). The ISM business activity index for the service sector for July was 55.7 (forecast: 59.0, previous: 59.1). Day's news (GMT+3): 9:00 Germany: factory orders s.a. (MoM) (Jun). 11:30 Eurozone: Sentix Investor Confidence (Aug). Fig 1. EURUSD hourly chart. Source: TradingView Current situation: Friday's multidirectional fluctuations once again confirm that it's pointless to make market forecasts on payrolls day. The 157th degree acted as a support. The price bounced off that area three times and now sellers are trying to test it below 1.1550. I see the pair is poised to rebound to 45 degrees (1.1558). The Stochastic Oscillator isn't favouring buyers at the moment, so it will only be safe to enter long positions if the trend line gets broken. The balance line (Lb) will act as an intermediate resistance. Now it is passing through 1.1600. The economic calendar is looking pretty scarce. There's nothing to stop buyers from inducing a correction. See more forex strategies in Alpari.com

Nowadays, a HUGE number of Forex traders spend their time looking for that perfect moment to enter the markets or a telltale sign that screams “buy” or “sell.” And while the search can be fascinating, the result is always the same. The truth is, there is no specific way to trade the Forex markets. As a result, traders must learn that there are a variety of indicators that can help to determine the best time to buy or sell a Forex cross rate. Therefore, the top 4 trend indicators of 2020 are listed below. Indicator №1: A Trend-Following Tool It is possible to make money using a countertrend approach to trading. However, for most traders, the easier approach is to recognize the direction of the major trend and attempt to profit by trading in the trend’s direction. This is where trend-following tools come into play in a live trading account. Also: Catch The Ultimate Comparison Between Demo And Live Trading Many people try to use them as a separate trading system, and while this is possible, the real purpose of a trend-following tool is to suggest whether you should be looking to enter a long position or a short position. So let’s consider one of the simplest trend-following methods — the moving average crossover. A simple moving average represents the average closing price over a certain number of days. To elaborate, let’s look at two simple examples — one long term, one shorter term. Figure 1 displays the 50-day/200-day moving average crossover for the euro/yen cross. The theory here is that the trend is favorable when the 50-day moving average is above the 200-day average and unfavorable when the 50-day is below the 200-day. However, no matter what moving-average combination you choose to use, there will be whipsaws. Figure 1: The euro/yen with 50-day and 200-day moving averages Figure 2 shows a different combination — the 10-day/30-day crossover. The advantage of this combination is that it will react more quickly to changes in price trends than the previous pair. The disadvantage is that it will also be more susceptible to whipsaws than the longer-term 50-day/200-day crossover. Figure 2: The euro/yen with 10-day and 30-day moving averages Many investors will proclaim a particular combination to be the best, but the reality is, there is no “best” moving average combination. In the end, Forex traders will benefit most by deciding what combination (or combinations) fits best with their time frames. From there, the trend — as shown by these indicators — should be used to tell traders if they should trade long or short; it should not be relied on to time entries and exits. Indicator №2: A Trend-Confirmation Tool Now we have a trend-following tool to tell us whether the major trend of a given currency pair is up or down. But how reliable is that indicator? As mentioned earlier, trend-following tools are prone to be whipsawed. So it would be nice to have a way to gauge whether the current trend-following indicator is correct or not. For this, we will employ a trend-confirmation tool. Much like a trend-following tool, a trend-confirmation tool may or may not be intended to generate specific buy and sell signals. Instead, we are looking to see if the trend-following tool and the trend-confirmation tool agree. Likewise, if both are bearish, then the trader can focus on finding an opportunity to short the pair in question. One of the most popular — and useful — trend confirmation tools is known as the moving average convergence divergence (MACD). This indicator first measures the difference between two exponentially smoothed moving averages. This difference is then smoothed and compared to a moving average of its own. When the current smoothed average is above its own moving average, then the histogram at the bottom of Figure 3 is positive and an uptrend is confirmed. On the flip side, when the current smoothed average is below its moving average, then the histogram at the bottom of Figure 3 is negative and a downtrend is confirmed. Figure 3: Euro/yen cross with 50-day and 200-day moving averages and MACD indicator In essence, when the trend-following moving average combination is bearish (short-term average below long-term average) and the MACD histogram is negative, then we have a confirmed downtrend. When both are positive, then we have a confirmed uptrend. At the bottom of Figure 4, we see another trend-confirmation tool that might be considered in addition to (or in place of) MACD. It is the rate of change indicator (ROC). As displayed in Figure 4, the red line measures today’s closing price divided by the closing price 28 trading days ago. Readings above 1.00 indicate that the price is higher today than it was 28 days ago and vice versa. The blue line represents a 28-day moving average of the daily ROC readings. Here, if the red line is above the blue line, then the ROC is confirming an uptrend. If the red line is below the blue line, then we have a confirmed downtrend. Note in Figure 4 that the sharp price declines experienced by the euro/yen cross from mid-January to mid-February, late April through May, and during the second half of August were each accompanied by: The 50-day moving average below the 200-day moving average A negative MACD histogram A bearish configuration for the ROC indicator (red line below blue): Indicator №3: An Overbought/Oversold Tool After opting to follow the direction of the major trend, a trader must decide whether they are more comfortable jumping in as soon as a clear trend is established or after a pullback occurs. In other words, if the trend is determined to be bullish, the choice becomes whether to buy into strength or buy into weakness. If you decide to get in as quickly as possible, you can consider entering a trade as soon as an uptrend or downtrend is confirmed. On the other hand, you could wait for a pullback within the larger overall primary trend in the hope that this offers a lower risk opportunity. For this, a trader will rely on an overbought/oversold indicator. There are many indicators that can fit this bill. However, one that is useful from a trading standpoint is the three-day relative strength index or three-day RSI for short. This indicator calculates the cumulative sum of up days and down days over the window period and calculates a value that can range from zero to 100. If all of the price action is to the upside, the indicator will approach 100; if all of the price action is to the downside, then the indicator will approach zero. A reading of 50 is considered neutral. Figure 5 displays the three-day RSI for the euro/yen cross. Generally speaking, a trader looking to enter on pullbacks would consider going long if the 50-day moving average is above the 200-day and the three-day RSI drops below a certain trigger level, such as 20, which would indicate an oversold position. Conversely, the trader might consider entering a short position if the 50-day is below the 200-day and the three-day RSI rises above a certain level, such as 80, which would indicate an overbought position. Different traders may prefer using different trigger levels. Figure 5: Euro/yen cross with three-day RSI overbought/oversold indicator Indicator №4: A Profit-Taking Tool The last type of indicator that a Forex trader needs is something to help determine when to make a profit on a winning trade. Here, too, there are many choices available. In fact, the three-day RSI can also fit into this category. In other words, a trader holding a long position might consider taking some profits if the three-day RSI rises to a high level of 80 or more. Conversely, a trader holding a short position might consider taking some profit if the three-day RSI declines to a low level, such as 20 or less. Another useful profit-taking tool is a popular indicator known as Bollinger Bands. This tool takes the standard deviation of price-data changes over a period, and then adds and subtracts it from the average closing price over that same time frame, to create trading “bands.” While many traders attempt to use Bollinger Bands to time the entry of trades, they may be even more useful as a profit-making tool. Figure 6 displays the euro/yen cross with 20-day Bollinger Bands overlaying the daily price data. A trader holding a long position might consider taking some profits if the price reaches the upper band, and a trader holding a short position might consider taking some profits if the price reaches the lower band. Figure 6: Euro/Yen cross with Bollinger Bands® A final profit-taking tool would be a “trailing stop.” Trailing stops are typically used as a method to give a trade the potential to let profits run, while also attempting to avoid losing any accumulated profit. There are many ways to arrive at a trailing stop. Figure 7 illustrates just one of these ways. The trade shown in Figure 7 assumes that a short trade was entered in the Forex market for the euro/yen on January 1, 2010. Each day the average true range over the past three trading days is multiplied by five and used to calculate a trailing stop price that can only move sideways or lower (for a short trade), or sideways or higher (for a long trade). Figure 7: Euro/yen cross with a trailing stop The Bottom Line If you are hesitant to get into the Forex market and are waiting for an obvious entry point, you may find yourself sitting on the sidelines for a long while. By learning a variety of Forex indicators, you can determine suitable strategies for choosing profitable times to back a given currency pair. Also, continued monitoring of these indicators will give strong signals that can point you toward a buy or sell signal. As with any investment, a strong analysis will minimize potential risks.

It is natural for forex traders to have some kind of positive expectations when it comes to successful trading systems. What these expectations refer to is that the systems that are successful are sure to make money sooner or later. Yes, it’s not possible to make money while trading all the time. Occasionally, you may have to deal with a loss. This is something every forex trader must understand and learn to cope with. The whole idea is to keep trading with an understanding that you will make money in the long run and there are no shortcuts involved in this process! This is where the nuances of forex money management come into the picture. Successful and proven forex money management tips help you trade through tough times that you may face regularly while trading. There are a number of books involving complicated mathematical analysis that have been written on this subject. However, you need to understand that money management tips and tricks can also be simple. A complete trading plan is what you need to have a successful trade. What this plan will suggest you is suggest an entry point and an exit point while trading. Though these plans it is possible to manage your money wisely, Top 10 Forex Money Management Tips that Actually Works .

GBP/USD pulls back from November 11 high, eyes two-week-old support line. RSI weakness from nearly overbought territory, tough resistance suggest further declines. Bulls can aim for September high beyond 1.3315, 1.3105/3100 becomes the key support. Having slipped from 1.3312, GBP/USD wavers around 1.3270 during the initial Asian session on Thursday. In doing so, the cable highlights a short-term ascending triangle formation on the four-hour (4H) chart. Considering the latest pullback in RSI from almost overbought conditions, coupled with the failures to cross 1.3315/10 area, GBP/USD sellers can attempt confirming the bearish chart pattern. As a result, a break below the upward sloping trend line from November 02, near 1.3220 now, becomes the key. As per PipsWin, it should, however, be noted that the pair’s declines past-1.3220 will be probed by a confluence of 100-bar SMA and the mid-November lows near 1.3105/3100 area. If the bears dominate past-1.3100, the downside pressure will get additional fuel from the “double-top” confirmation, which in turn directs the quote towards the sub-1.3000 area. Meanwhile, an upside clearance of the 1.3315 resistance can push the GBP/USD bulls towards the September high around 1.3485. Though, the 1.3400 round-figure may offer an intermediate halt during the rise. 𝐴𝑑𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝐼𝑚𝑝𝑜𝑟𝑡𝑎𝑛𝑡 𝐿𝑒𝑣𝑒𝑙𝑠: 👉Today last price: 1.3269 👉Today daily change: 17 pips 👉Today daily change: 0.13% 👉Today daily open: 1.325

Researchers have thoroughly analyzed the myriads of trading platforms. The ones on our list are picked for their overall quality, which is a level above what you’d find with the competition. Before we dive into detailed examinations, I want to explain my selection criteria. This section will help you choose the best Forex trading platform for yourself. Reliability Foreign currency trading is fast-paced, so you need a reliable platform. You don’t want it crashing or freezing when you’re about to make a move. This is especially important for those who wish to make frequent high-risk trades. Ease of Use It’s always great to have plenty of features at your disposal, but that shouldn’t come at the cost of efficiency. Making or losing trades should be as simple as possible because that’s the primary role of the Forex trading platform. Furthermore, no one enjoys being confused, so the best interfaces have additional tools and charting options clearly displayed. I suggest looking for very customizable platforms. Setting it up just the way you want will help you feel at ease and in control. Fees Every platform has costs and charges that you have to take into consideration before committing. Analysis Tools and Charting Trading FX takes a lot of practice, and even the best Forex brokers, dealers, and traders need to conduct a thorough analysis of their work on a regular basis and, if needed, adjust their strategy. Good analysis tools are vital for this aspect of Forex trading. Some of these include moving averages, trend indicators, indicators of volume, and many other useful instruments. Charting capabilities are closely related to analysis tools since many traders prefer to have their research results displayed visually. With certain platforms, you’re allowed to create customized charts, as well as add drawings and labels. The very best trading platforms even enable you to place trades directly from the chart within the platform. Automation Automated trading features enable traders to set up triggers that buy or sell currencies when the appropriate conditions are met. These are quite handy because they allow you to maintain a presence on the FX market even when you aren’t in a position to do so in person. The orders you configure can be market, stop, stop-limit, trailing stop, trailing stop-limit, market-if-touched, and limit-if touched. As you can see from any trading platform comparison, all the vendors differ when it comes to the number of automation options. New traders should avoid overreliance on software to perform trades for them. As convenient as automated trading systems are, these can’t measure up to the expertise of professionals. Although automation eliminates human error that usually stems from emotional decision-making, other glitches like internet or hardware malfunctions can still occur. Testing Some Forex platforms such as FP Markets have a backtesting feature. You can use it to try out trading strategies you’ve developed by applying them to past market conditions. Once you’ve done that, you can identify defects in your strategies and optimize them accordingly. However, a backtested strategy isn’t foolproof, as backtesting is based on the hypothesis that a successful tactic from previous situations will work in the future. cheers!

Owing to modern advancements, the world has seen quite a lot of financial developments. One such development, Forex and CFD trading has become quite popular amongst traders due to various factors such as ease and availability. However, if you’e interested in investing in Forex, it becomes essential that you choose the proper Forex and CFD broker. So, to assist you, this CFD trading guide will help you choose the one that is the best and most reliable for you. 1. The Regulations Must Be Proper The very first and the most important thing to consider before choosing a trading broker is the regulation. Now, no matter how much security, various platforms today are full of fraudulent traders brokers who may take away all your funds. In such a situation, it becomes important that the broker protects your rights and your interests. For example, these regulations can help in protecting your funds if or whenever your broker has disappeared or doesn’t have sufficient funds. It also ensures that your funds are kept safe and secure in a separate account than the broker’s account. Additionally, such regulations help in maintaining and encouraging fair trading practices. This ensures that the execution of your trades is at the proper and recent market prices. However, to gain all of the above benefits, you need to go for a licensed broker. You also need to make sure it has a clean record. 2. Security Policies One of the biggest risks of financial platforms is the disclosure of confidential information such as your bank account details, card details, and even your I.D proof such as a passport. Thus, this is where data security comes into consideration. When you’re choosing a Forex and CFD trading broker, you need to take care of security concerns. There are plenty of chances that cybersecurity may not work as efficiently as it should. This can put your financial data as well as personal data at a high risk of theft. Hence, it becomes necessary to go for a broker that offers proper security via a cybersecurity firm and necessary encryptions. 3. Friendly Trading Platform The trading platform needs to have a friendly user-interface to make it easier for you. An easy to use user-interface will give you a smooth and fun experience while trading. You need to ensure that the trading software provides you easy navigation, technical analysis tools, Forex indicators, charting capabilities, etc. All these factors will make it easier for you to succeed. Also, try to use a demo trading account at first then move on to real trading accounts. Besides, catch the certain differences between demo and live trading: https://topasiafx.com/blog/demo-trading-vs-live-trading The software needs to look secure and reliable. Additionally, it should include risk management functionality and customizable add-ons. The good news is you can get a free demo from most Forex and CFD brokers. During the demo, you are free to check out the software and test out the platform to decide if it is the right one for you or not. 4. Responsive Customer Support If you get into trading, you need a broker with responsive and reliable customer support. You are vulnerable to face issues all the time that you need to solve as soon as possible. A broker with good customer support can help you solve your problem efficiently if you ever faced one. They will also be always there to answer any inquiry or doubt that you have. A possible issue you might face could be related to deposits, withdrawals, incorrect execution of trades, and other such issues. That is why you need someone that you can contact to help you solve the issue immediately. Good customer support should give you the option to contact them through multiple ways such as live chat, email, and phone. It could be a bonus if they provide different languages other than English. 5. Fast Deposit and Easy Withdrawal The broker of choice should allow you to deposit money in several ways. It should include debit cards, credit cards, wire transfers, and bank checks. This wide range of methods will make it much easier for you to deposit money and start trading right away. Regarding withdrawals, you need a broker that provides a wide range of payout options. Moreover, your broker needs to give you the smoothest and fastest withdrawal process possible. You need to pay attention to the deposit and withdrawal fees if there are any. Some brokers take more fees than others. Also, there might be a daily withdrawal limit, so check that out before you start trading as well.

Two major state-owned Chinese banks warned on Monday that they could restrict the trading of precious metals and foreign exchange products if this week’s U.S. presidential election fuels market volatility. Bank of China 601988.SS3988.HK, the fourth-largest lender by assets, said it might curb or suspend such trade, while Bank of Communications 601328.SS said it was taking steps to potentially limit spreads and transactions during the election. “We expect volatility in the precious metals and foreign exchange market to increase significantly between Nov. 3 and Nov. 4,” Bank of China said in an online statement. “Market liquidity will be notably lowered, and market risks may intensify.” The bank said it might suspend trading of affected products “under the extreme scenario of a liquidity crunch”, and cap trading volumes during the election. Bank of Communications said it would make “flexible adjustments” and restrict transactions based on international market quotations and market liquidity. Both lenders said curbs would be lifted once the market stabilized, however. Traders and FX brokers are closely watching the outcome of the election, with Republican President Donald Trump trailing Democratic challenger Joe Biden in national opinion polls. Also read: Compare Now | Demo Trading Vs. Live Trading

Welcome to my today's topic " 5 HUGELY Effective Forex Trading Tips 2020."So, by reading the title I hope you've understood my today's topic. Yes, I'm gonna breakdown 5 best Forex trading tips which will SURELY be helpful for you in this 2020 Forex trading market. In fact, these are the same exact strategies that I've come to know that has benefited a lot of the market traders. But before I get started, how about writing interesting facts about currencies in FX trading that most people don't know about? Here are the deets... Currency exchange is an ancient practiceThe modern foreign exchange began in 1880. The The US dollar dominates retail Forex trading united States "paper money" was created to fill up for coin shortage. Now moving on to the main part of today's topic. Therefore let's breakdown the 5 best Forex trading tips of 2020. Don't ignore the psychology of the trade It's easy to see why trading psychology is an area that is often overlooked by traders, especially when they start. However, experienced traders, who have spent years in the market, understand that traders who will continue to run for the long term are those who have mastered their trading psychology. Trading is a very emotional experience. The cold reality is that you will control your emotions or they will control you. How you react and respond to those emotions will determine your long-term market success. So take the time now to research and invest in your trading psychology if you haven't already. Don't ignore fundamental analysis Technical analysis is intuitive and relatively easy for each. However, fundamental analysis is a skill that is a little more involved and seems impenetrable at first. Fundamental analysis is simply the ability to understand why the market is moving in a certain direction. For some people, who see fundamental analysis as irrelevant, it is necessary to reflect why almost every institutional trading company invests a large amount of money to get an economic release and the analysis is sent to their trading desk in seconds. The Bloomberg Terminal, for example, costs around $ 2000 per month. If technical analysis alone is sufficient for profitable trading, this serious trading company will not invest so much in useless tools. Some simple ways to accelerate your fundamental analysis skills are investing in the news, reading analysts regularly, and getting 1 training: 1. This will be an investment that will pay dividends in the long run and avoid expensive initial mistakes. Don't be overly optimal One of the most important aspects of trading to understand is the use of appropriate and professional leverage. The use of leverage can be said to be the most important aspect of risk management and proper risk management is a top priority for all professional traders. Managing risk will be the single most important factor in your success or as a Forex trader. You cannot trade if you have no capital left. Conversely, using the right leverage will prevent you from destroying your account, maintaining your capital as a trader, and making you an attractive trader for high-income individuals to invest once you succeed. Don't ignore recent market sentiment Sentiment analysis only understands the current market atmosphere. The market, like a person, is subject to a different mood. Properly reading the market atmosphere is very important in generating profits. Now, if you misread someone's mood, you might accidentally feel the effects of someone's bad mood. In the same way, if you don't know the mood or market sentiment, then you might end up with a trading loss. The market is a melting pot of emotions, vulnerable to wild mood swings that can be overly optimistic or very pessimistic. So how do you read sentiments correctly and stay abreast of the current market atmosphere? You just have to read the last two market packages to see what the market's focus is. Does the central bank cut interest rates unexpectedly? Is there really good or bad data? Try to trade according to the market by looking at what is the market's focus. This is a skill that needs to be practiced and you will get better as time goes on. Don't view technical analysis as the holy cup of trade When traders embark on their trading journey, they will often have a fascination with technical analysis. Almost all traders have taken part in the search to find the holy grail of the trading system. His thinking said, 'If I can find the right system, I will solve it'.Hours were then spent re-testing through charts, switching between systems week by week, all looking for major technology systems. Too often is a little success because the perfect technical setup fails and you wonder why. Finally, traders who survive will realize that the market is a smooth price movement that reflects the economy throughout the world. Fundamental analysis and sentiment are the guiding lights on prices. Technical analysis is just a means by which traders successfully determine and limit their risk in a way that makes sense once fundamentals are in place. In short, technical analysis is a great steward, but a terrible master. In the end, both failure and success are a HUGE part of trading. In order to be profitable you'll have to manage both these aspects wisely. One must learn from the failure and take the necessary steps for obtaining a promising career in the future. GOOD LUCK!

The dollar was down on Wednesday in Asia, with investors fine-tuning their positions ahead of a U.S. Federal Reserve policy meeting. The U.S. Dollar Index Futures that tracks the greenback against a basket of other currencies inched down 0.03% to 93.085 by 9:76 PM ET (2:57 AM GMT), giving up some earlier gains. The USD/JPY pair was down 0.15% to 105.28. The Fed will meet later in the day to hand down its policy decision, its first meeting since Fed Chairman Jerome Powell announced a more relaxed approach to inflation at the Jackson Hole symposium on August 27. This stance is widely expected to be continued and may weaken the greenback with the introduction of further stimulus measures. However, some investors disagreed with those expectations. “There’s a feeling in the market that maybe the Fed will try to act on its dovish tilt,” National Australia Bank (OTC: NABZY) senior currency analyst Rodrigo Catril told Reuters. “Our sense is that there’s a risk there that the Fed doesn’t do much more than what it’s done already,” he added, possibly lifting U.S. yields and weighing on the yen. The policy decision is also expected to introduce longer tenors for the Fed’s bond-buying program. Other areas of interest to investors are the Fed’s economic projections, particularly on inflation and its direction. “The three to 3.5-year projection horizon will give (Fed members) an opportunity to indicate how big an overshoot they expect will be required to get to the 2% average inflation target … it will also give (them) an opportunity to indicate how much of an overshoot they are willing to tolerate,” Standard Chartered (OTC: SCBFF) head of FX research Steve Englander told Reuters. The Bank of Japan and Bank of England will also hand down their respective policy decisions on Thursday. The AUD/USD pair edged up 0.12% to 0.7309 and the NZD/USD pair inched up 0.01% to 0.6722. The USD/CNY pair edged down 0.15% to 6.7699. The yuan continued to bask in the wake of Tuesday’s economic data indicating growth in industrial production and retail sales year-on-year, as well as pointing to China’s continuous economic recovery from COVID-19. As per, TopAsiaFX, The data also boosted investors’ hopes for a global recovery from the pandemic. The GBP/USD pair edged up 0.22% to 1.2915. The pound rose on the back of Tuesday’s better-than-expected job figures, as well as opposition to a bill proposing to break the U.K.’s Brexit treaty with the European Union (EU). The U.K. will release a slew of data for August, including the consumer price index, later in the day.

Foreign exchange brokers offer traders leverage on their accounts that allows them to enter into larger trades at no additional cost. A $10,000 size account with 50 times leverage implies a trader has access to $500,000 in buying power to do what they wish. It is best to read and understand a leverage guide to understand the pros and cons of trading with someone else’s capital. But it might be a necessary evil as the forex market is void of gigantic daily moves that are common in the stock market. Ironically, the foreign exchange market is the largest and most liquid market in the world as $4 trillion worth of currencies trade hands on a daily basis. No Leverage, No Gains Advanced forex traders with a $10,000 account balance with no leverage can consistently make a profit day in, day out. But without the compounding power of leverage, a $10,000 balance that earns a spectacular 15% annual return (by forex standards) will likely find their efforts to be futile. Perhaps even a complete waste of time. Meanwhile, in the stock market universe, a 15% move for a $1 trillion valued tech's heavyweight like Apple or Amazon can be generated in a few short days. Much larger gains can happen in hours, if not minutes. In forex trading, a 5% daily fluctuation is considered a very large move. Much larger moves, such as the10% reaction in the British pound in reaction to the Brexit vote is a once a decade event, if not longer. So traders need leverage. They may not like it and very few can avoid it. As such, leverage is a fact of the game and a mandatory tool to generate any sort of meaningful profit. Leverage Options Leverage amounts vary from broker to broker and some may reserve their highest leverage to experienced and responsible traders only. Here is a breakdown of what is an appropriate amount of leverage for traders at different stages in their trading career. Foolish Traders- 20 times leverage: Foolish traders are usually newcomers with zero experience and close to zero trading knowledge. They may have been tempted to sign up for a brokerage account after watching a compelling ad or are looking to take advantage of compelling sign-up offers. Chances are likely they will blow through their account in days, if not hours. Beginner Traders - 50 times leverage: Beginner traders likely spent time learning about trading strategies through online courses, books, or browsing YouTube videos. They are prone to make beginner mistakes and have minimal risk management strategies. They are likely to enter into a few profitable trades and will blow out their account in weeks. Moderate Traders - 100 times leverage: Moderate traders have spent a lot of time practicing their strategies in a paper account. They understand the importance of risk management and show discipline in quickly exiting a trade that moves in the wrong direction. These traders will likely use their margin responsibly and wait for the once a week opportunity to go big and take advantage of a unique opportunity. The odds of success aren't in their favor but a select few will end up making a lot of money over time. Advanced Traders - 100 to 300 times leverage: Advanced traders have spent years studying the forex market and anything short of making $100,000 a year in profit is considered a poor year. Advanced traders are extremely patient, knowledgeable, and disciplined. Professional Traders - 400 times leverage and above: Professional traders are likely backed by an extremely large account balance and may not even need this level of margin. But it is made available to professional traders to take advantage of a unique opportunity. While advanced traders are happy to make $100,000 a year, a professional trader expects to make this amount in one single trade while using accurate trading signals. Conclusion: Recognize The Dangers Of Leverage Some brokers might extend generous amounts of leverage to all traders and there is a good reason for them to do so. Brokers likely invested a great amount of money into their internal risk management systems that will automatically sell out a position before a traders’ balance hits zero. It is easy to understand how an inexperienced trader would be attracted to unusually high leverage. They might even have a gambler’s mentality that a new car or house is within reach after two or three highly leveraged trades are closed out. For some, they might hit a jackpot and win the big prize, but for the vast majority of people, this is nothing but a dream.

We have all had to re-invent our approach to business in the wake of the crisis created by the Covid-19 pandemic. But we have learned during the pandemic that crisis is not all-together bad. Crisis helps us think deeper, stretch our imagination, restructure our organizations, and discern the real needs of our business. But how do we, as business owners, crisis-proof our business? We may not be able to stop the crisis from coming, but our business can cope with it better when that crisis does arrive. Risk and crisis management are consistent features of Forex and currency trading. Here are a few areas where small business owners can draw significant wisdom from the art of currency trading. Avoid false advertising Many small businesses constantly grapple with the crisis of customer defection or a consistent inability to attract and keep new customers. The problem is often with their marketing strategy. A leisurely scroll through your timeline on social media will expose you to a myriad of ads from small and medium-sized businesses all vying for your attention. In many of these ads, you will find one nasty feature; false advertising. While these ads promise astonishing freebies or cut-price deals, the reality behind often reveals something totally different. I once received mail from an advertising business I had almost patronized. It read, "I noticed you stopped short of making the purchase. Hey, I know the ad was a bit deceptive but..." Needless to say, that put me off from the business. One key feature of Forex trading is the risk factor especially when you aren't using accurate trading signal.. It is one of the most glaring features of the market, so glaring that Donald Trump's Covid-19 diagnosis caused quite a stir. Every serious-minded Forex trader, trainer, or broker reveals the nature of risk involved in trading while advertising their services or teaching their courses. My early foray into Forex trading brought me in contact with FxBro, a sibling run Forex trading community where they were so vocal about the risks of trading Forex that it almost seemed like it was their marketing strategy. However, I noticed I was drawn to Maksim and Nina Konstantinov's strategy (Fx Bro Co-founders) because their clear warnings made me appreciate even further their offer of guidance. While taking advantage of PPC campaigns and ad marketing that social media provides, you must realize that building a loyal following does not involve sacrificing the truth on the altar of appeal. It is pertinent that you market nothing beyond what you can offer, and though you must engage your creativity in marketing, you must also draw the line just before creativity begins to drift into dishonesty. In co-founder of Fxbro Maksim Konstantinov's words, "When we fall downstream, we always say it loud and explain to our customers that even after the 15 years experience I have garnered trading Forex, we can still make losses and so would they". Konstantinov finds that having begun from scratch himself and experiencing all the downturns, it is great to always be clear about the risks while advertising. This is the attitude that marketers should have across the board and is one of the most powerful ways to avert the crisis of customer defection. Spin the wheel, don't reinvent it Two years ago, I served on the panel for a grant-issuing body for upcoming African entrepreneurs. As I sat on that panel, I discovered that almost 90% of those who were unsuccessful were failing because they were trying hard to reinvent the wheel. They were trying to run a business that was novel in every single aspect. Their crisis was a "lack-of capital," and it was self-engineered. Granted, innovation and invention are generally good for business, but they are not always necessary, especially when there already exists verified working systems that are yielding massive results in your industry. Forex trading platforms realize that many people are not going to sit down to study the technicalities of the market, so to enable the largest number of people to invest, they have to integrate a "Mirror Trading System." Alex Campbell, Chief Executive Officer of Vast Triumph, in explaining their "mirror trading" and AI strategies that have been used to great effect, explained it as "a system that minimizes the need for vast knowledge and experience of the market. Mirror trading pairs investors and new traders with our top-earning traders, yielding results for investors without the exertion of personal trading." No system guarantees success, but if you can find working, proven systems for your business to adopt, I often advocate the "Ctrl C, Ctrl V" approach. There is no shame in copying working systems. Given the same circumstances, there is no reason they won't work for you. Upcoming entrepreneurs can stand out with their company culture, values, and mission, but when it comes to business strategy, learn what works and spin the wheel. When you insist on constantly treading uncharted waters you are easily prone to unforeseen errors. Protect today with yesterday My first attempt at trading the Forex market saw me obliterate a $300 account in one day. It hurt, and I learned. Crises are unavoidable in business, but if you are keen on documenting your experiences and adjusting your business to become resistant to that same crisis, you'll win in the long term. The human body becomes more and more immune to the diseases it has survived before, Hurricane-prone areas of the state begin to re-imagine its infrastructure to withstand such a harsh climate. Likewise, in Forex, every successful firm or trader has a "trading journal," where they document all their moves in the market to further understand how it moves and reacts. For small business owners, it is necessary to know that to become crisis-proof, you may have to cherish and document all wrong business steps as well as the right ones. Not moaning over losses and failures is the best way to understand business and, more specifically, your industry. Nothing you read in books will prepare you for the business experience you gain firsthand, so write your own books by keeping records, and make sure your business evolves with this knowledge. Balanced risk-reward ratio The question I get asked often from young entrepreneurs is "How do I maximize profit?" This question is vital but becomes a bit worrying when I see these businesses trying a little too hard to make money from every margin in their business. Often, profit maximization can become the direct opposite of customer satisfaction. Small businesses must be satisfied with bearing a lot of risks. To do this, you would have to find a balance between profit and risk. This place of balance is a place where you do not overextend yourself as a business, yet offer the customers enough satisfaction to warrant their continued investment. In currency trading, trade is considered bad when the risk far outweighs the profit potential, and trade is safe to engage in when the risk-reward ratio is at least balanced. This is an invaluable tool for all successful currency traders and firms: risk management. To prevent a crisis, you need to become analytical, patient, alert, balanced, truthful, and customer-centered. This makes it far easier to evolve positively as a business and grow a thicker skin in the wake of a crisis.

When I was 16 I decided I wanted to be a millionaire. I wasn't from a wealthy family, and I witnessed how my parents, especially my dad, struggled and worked hard to make ends meet. I knew I didn't want to walk down that road, so from this point on I continually studied and sought ways to make money. It eventually became clear to me that I had three primary means to get rich: own a business, invest, or combine the two. I discovered that I liked the idea of using money to make more money, and soon got fixated on investing. This was how I got introduced to Forex trading. Unsurprisingly, I made a lot of mistakes early on. I blew out several trading accounts, with each loss leading to more pain and despair. However, there were also moments of victory. There were times when I would make more in hour trading than I would in a week at my job, all with a few clicks of the mouse. It was surreal. These were the feelings I clung to in my early days. It took me about 42 months to make my first windfall in forex trading. I was still a student at that point, trading in between classes and assignments. I remember feeling at the time that it seemed as if I’d been trading forever when in reality it had only been about three and a half years. Going forward, I carried on that momentum to build a trading business around my personal trading. People and companies started inviting me to give my insights at forex trading conferences around the world, and I had the honor of training traders at banks, fund management companies, and prop trading firms. In an effort to save others the time it took me, I’ve compiled a list of four Forex trading strategies for beginners that embody everything I’ve learned over the last 20 years about how to trade forex and make money from it. Step 1: Learn How To Read Charts The price chart is one of the crucial things a forex trader must know and understand. I always find it funny when new traders go looking online for forex trading tutorials on trading strategies and then proceed to lose money when they try to implement them. Why does this happen? The simple answer is you have to learn to read the price chart! Trying to use someone else’s trading strategy without being able to read the chart is like trying to do hurdles before you can walk. The reason for this is simple—no forex trading strategy works 100% of the time. If you rely solely on one trading plan to use at all times, it will eventually fail you. By learning how to read charts, specifically the forex price action and technical indicators like support, resistance, and trendlines, you will not only understand what is happening but why. Step 2: Control Your Risk Trading is all about controlling your risk. Applying inappropriate risk is one of the primary reasons most forex beginners blow out their accounts when trading. For example, you should never be risking 100% of your account on a single trade. That’s akin to gambling. As a general rule, most Forex trading for beginner books will tell you to risk anywhere between 1-3% of your account per trade. But this low-risk strategy has drawbacks as well. If you have an account worth $1,000 and you risk 1% ($10) on a trade, you will have to make a lot of profitable trades to grow your account. This could lead you to overtrading, which could in turn increase your losses. Ultimately, you have to find the balance of risking enough to make the trade worth it, but not so much that your risk-reward ratio is too imbalanced. Step 3: Consider The Risk-Reward Ratio Too Every trade you enter should have a defined risk-reward ratio. That means knowing how much you are prepared to lose in addition to knowing how much you’re prepared to make. In other words, have specific buy and sell targets on the upside and downside before you enter a trade. Step 4: Test The Effectiveness Of A Strategy Before You Use It There is a straightforward way to ascertain the effectiveness of a forex trading strategy. This process is called backtesting. Backtesting involves reviewing the results of trades made using a particular technique over a period. My general rule of thumb is I will consider a strategy if I observe a net profit for three consecutive years. I do my backtesting on the demo trading platform, which allows you to backtrack to the period you wish to start testing from. Advance tip: You shouldn't use live trading accounts for backtesting several strategies it can cost you BIG TIME. Besides, if you don't know the significant differences between live trading and demo trading then the article stated below is highly suggested for you. Demo Trading vs Live trading. Step 5: Don't Get Emotional There is a concept in poker when a player gets too emotional after losing money and starts playing differently to win it back. This situation is known as tilt. While Forex is a different ballgame entirely, the same concept applies. Understand that losing is an inherent part of trading. You should expect and prepare for it instead of getting vengeful. One way to keep your emotions in check is to never carry over the results of a previous trade into a new one. Treat every trade as if it’s an entirely new entity and approach it with a clean mindset. If you find yourself carrying over positive or negative reactions from your previous trades, that’s a recipe for clouded judgment. Another pro tip for controlling your emotions during trading: whenever you feel agitated or emotionally-charged, take a break. Stop trading until you have regained your composure. cheers!

Hey, everyone. A new BLAST has arrived. So, welcome to today’s topic which is DEFINITELY gonna shed a light on few misconceptions that many people have concerning the Foreign exchange market. It is no doubt that Forex trading is at the highest peak of popularity. People are continuously choosing online trading as a decent and passive profession. But there are some people in our society who have gained several misconceptions about the FX market on their minds. But wait — there’s more. They also encourage other people to believe in their misconceptions regarding the FX market. Therefore, we have to stop this misconception from spreading, together obviously. So, today I’ll be sharing 6 misconceptions that most people have concerning the FX market. Let’s rock and roll! 1. FX trading is easy as water Trading currencies shouldn’t be that difficult, right? Well, it isn’t rocket science, but it’s not really safe to say that it’s “easy”. Everyone, or at least everyone except professional traders, says that you only need to read a book or two about trading, set up a brokerage account, and you can jump right to making profits in the Forex market. Deep down you know it’s not true! Well, sorry to disappoint you, but understanding the trading method isn’t a cup of tea, and if you’re in for a quick turnover, you’re in for a rude awakening. Understanding Forex trading takes a massive amount of education regarding the market, strategies, risk management, active Forex trading times, technologies and tools, and Forex market jargon. Besides, you’ll also have to acquire a few years of experience to be able to place winning trades that will bring you a considerable profit. So, if you are a beginner, spend some time getting educated on everything related to the market and trading currencies. 2. Trading demands a Degree in Economics. As mentioned earlier in the topic, understanding how to trade Forex is anything but easy. Yet, on the flip note, you also don’t need to have a degree that says you are an economics wizard to understand how trading currencies work. Now, there’s no doubt that the more you know about world economics and economic concepts, the easier it’s going to be to trade foreign currencies. Yet, it isn’t an imperative factor that will decide whether or not you can be a trader. In fact, many Forex traders come from various academic backgrounds, not only economics. Yet, to be a successful trader, you’ll need to have a good head for numbers, an intuition to help you estimate where is the market heading, and the ability to react and make critical financial decisions depending on the market-moving events. 3. You don’t need to start with a demo trading account Like I’ve mentioned earlier, you’re in for a rude awakening if you think you can start trading and make profits immediately as a beginner. Even after you learn the basics of the Forex market and trading, you still need to test your trading skills out before you jump into the market. Or, at least that’s what you should do if you don’t want to lose money. Understand that learning about Forex is one thing, actually trading on the market is an entirely different thing. And, what better way to learn how to trade by actually applying everything that you have learned than by using a demo trading account? Plus, you also don’t have to worry about losing money. Take demo trading as an indicator of your trading skills. You’ll avoid putting your capital at risk, familiarize yourself with the trading platform and Foreign exchange broker, and learn a thing or two about the psychology of trading, meaning that you’ll learn how to manage your emotions when trading. 4. Forex trading makes you rich overnight This misconception about Forex trading is entirely the result of a little bit of false advertising. It’s a familiar story and it usually goes like this! Who doesn’t want to get rich overnight or with little effort? So, this “get rich quick” advertising line has brought many people into the arena who are looking for easy or rapid returns. Unfortunately, this may not be entirely true, or at least it is a quite rare scenario. Building wealth with trading takes patience as for the average trader, it’s rarely an easy road to riches but instead can be a rocky highway that can also involve losses and potential penury. You’ll have to trade consistently, avoiding the gambling-throw-it-all-at-a couple-trades approach. Over time, as your trading skills improve, so will your trading decisions and your returns. But, once again, it all takes time to happen. 5. Forex is an unregulated market Another misconception about the Forex market is that there is no authority out there to say what is right and what is not correct to happen during trades. Picture this! Now, technically, the Forex market is one of the biggest and most liquid decentralized markets in the world, meaning that there’s no single global body to police this market. However, read that again, no SINGLE global body because some market regulators are covering the jurisdictions where most of the world’s Forex brokerage businesses are located. For example, in Australia, you’ll find Forex brokers regulated by ASIC. In the US, brokers are regulated by the CFCT regulator, while in the UK, they are regulated by FCA. These regulators are essential to make the market safe for traders because there are massive amounts of money passing the market every day, which makes it very attractive for all sorts of scammers and white-collar criminals. So, these regulators ensure that those qualified to do Forex brokerage are legit and trust-worthy. Thus, it is imperative when you’re choosing a broker to check whether or not it is licensed by the Forex market regulator in your location. In the end, there are a lot of misconceptions that exits even today regarding the Forex market. As a result, many people are unknowingly joining the FX market for earning easy money and facing losses due to the lack of knowledge regarding the FX market. So, this needs to be stopped, we all need to be aware of that sort of people who are spreading the delusions. cheers!

Major currency pairs are actively traded in the Forex market, and they sometimes remained very active throughout the session. Both currency pairs react to events and their values to adjust when the news is released economically. In your capacity as Forex investors, you need to quickly access reports, news feeds, graphs and profiles, to make full use of the possibilities for you. When you use a Forex application on your phone, you will be able to take the opportunity presented after this news release. A Forex trading application is a web or a smartphone device that is used to monitor the Forex market that provides useful details for the everyday business of trading for you. It varies from trading platforms and news applications for a number of trading instruments, such as regular currency indicator and heat maps. Forex trading applications as it offers a complete drawer to easily evaluate and trade the Forex market. This is a great way to keep updated with key market trends, evaluating potential business opportunities directly from your fingertips. So you need to be careful about choosing the best Forex trading application that can make a significant contribution to your profit opportunities. In this article, you will know about Top Trading Apps for Forex Trading. 1. Netdania Stock and Forex Trader The application works very easily and offers an analysis of the financial markets. Because usability, Netdania Stocks and Forex Trader are one of the highest-rated applications and most commonly used by Forex traders. Applications interbank rates offer up-to-date and access to real-time quotes on both stocks and commodities, such as gold and silver — more than 20,000 financial instruments. As a personal trading assistant, this software also advises users the right time to enter or exit the market. This application is not only easy to use but also gives you news and updates on the market in real-time. This application also helps you to share your investment ideas with other traders, and you can learn new ideas from them as well. The application comes with a very innovative cloud technology to transfer and synchronize data across devices. 2. Trade Interceptor If you are searching for innovative tools for Forex trading and research then you should check out the Trade Interceptor. The best currency and stocks can be quickly identified and monitored by the application. It provides 14 specialized forms of graphs and 160 indicators of intelligence and drawing tools. This application allows you to access software analysis tools, trading data, and price alerts. It offers a quote to broadcast all of the global Forex market, Bitcoin, indexes, precious metals, and commodities. You can also browse the selected international news covering the Asian, European and American markets. This application provides a variety of tools for traders, including the ability to trade a currency pair, binary options, and commodity futures through a Forex broker preferences. This system offers a strategic analytical resource and trade, including nearly 100 technical chart indicators. Currently, the application is available on Android and the App Store. 3. Bloomberg Business Mobile App Stay connected with financial news best with Bloomberg and supervise the financial instruments you engage in fact, this software also provides you with the tools to quickly track your investments and get updates on your portfolio to help you make the best decisions to improve financial you stand. Bloomberg, media, financial services, and data private company based in Midtown Manhattan, providing global business and financial news. The Bloomberg app, which is available for both Android and iOS operating systems, provides you with the latest trends in the world of finance. 4. TD Ameritrade’s Thinkorswim Mobile TD Ameritrade is one of the largest and most advanced American trading platforms for stocks and shares, as well as Forex, and provides a wide range of investment products trading. However, Forex traders focus on recruiting help to reduce the chances of losing money where they really excel. This is done with his Thinkerswim platform, the National Futures Association, which provides introductory information on the future brokers. The information is presented in a way that is clear and easy to read and it really highlights the risk on your investment. Apart from this, you can also access life, streaming broadcast CNBC trading modify commands or warnings through your fingertips. 5: Option IQ Forex Forex trading application offers well-known business information and efficiency and some other features that demonstrate the vitality of the trading room. Simple User Interface allows you to interact more comfortably. The most highlighted feature of the application is the negative balance protection offered by the broker. Additionally, the Forex trading application allows significantly lowered and a smaller spread and limousine closing position. This application is available for Android and Apple users. The highly adaptive application also allows trade cryptocurrency to investors. This allows flexibility and performance, in addition to providing in-depth knowledge of Forex trading. Cheers!

US DOLLAR ANALYSIS, EUR/USD, AUD/USD, NZD/USD — TALKING POINTS EUR/USD branching out a new uptrend but will be coming across the critical cross-section AUD/USD rejected at 21-month swing-high. Drop accelerated after local GDP released NZD/USD cleared 13-month resistance but price action is indicating slowing momentum EUR/USD ANALYSIS EUR/USD appears to be climbing along with a newly-sprouted, modest uptrend since late July after jumping above the older slope of appreciation dating back to mid-May. The intersection of the two — labeled as “Key Juncture 2” may be critical. Breaking below that could result in a short-term pullback, followed by a brief congestive period before the broader uptrend resumes. EUR/USD — Daily Chart EUR/USD — Daily Chart AUD/USD OUTLOOK AUD/USD was firmly rejected at the December 2018 swing-high at 0.7393 and was met with aggressive follow-through. Worse-than-expected Australia GDP data compounded AUD losses. Looking ahead, the pair will likely retest short-lived, former resistance-turned-support at 0.7295. Cracking that floor could open the door to flirting with a stubborn inflection range between 0.7206 and 0.7181. AUD/USD — Daily Chart AUD/USD — Daily Chart NZD/USD FORECAST After breaking below the early-June uptrend, NZD/USD underwent a brief selling bout before stabilizing in mid-August and resuming its broader uptrend. As per PipsWin, The pair just recently cleared a technical landmark at 0.6726 with follow-through, which could precede another rise if momentum is sustained. Having said that, recent price action does paint a worrisome picture. NZD/USD — Daily Chart NZD/USD — Daily Chart Leading up to resistance, the candles had large bodies and small wicks, indicating what appeared to be robust underlying confidence in the pair’s upside trajectory. However, since the ceiling has been cleared, price action has become timider as the pair trades at a 13-month high. The wobbly movement could make traders nervous and potentially catalyze a short-term pullback.

Leverage gives the capacity to utilize debt funds to increase your buying potential while investing online. Forex trading with leverage implies you have a modest quantity of capital, managing a more substantial sum in the market. Stockbrokers will term this as trading on margin. In foreign currency trading, there is no interest charged on the margin utilized. It doesn’t distinguish what sort of merchant you are or what kind of credit you have. If you have an account and the intermediary offers a margin, you can use it to boost your trades. Leverage gives the trader more control Leverage makes a somewhat exhausting market fantastically energizing. Despite that, when your money is on the line, you have to craft your strategies carefully for trading in a such dynamic environment. Without leverage, investors would be amazed to see a 10% move in their record in one year. Be that as it may, a trader utilizing leverage can see a 10% move in one day without much of a stretch. Generally, typical measures of leverage will be excessively high. Know that high volatility on the Forex market is possible because of the leverage on exchange. The move in the fundamental resource has a less remarkable impact on volatility. Leverage size The traders get leverage in a fixed size that can change with various intermediaries. Each broker gives out leverage dependent on their standards and guidelines. The size of leverage can be 50:1, 100:1, 200:1, and 400:1 50:1: Fifty-to-one leverage implies that for each $1 you have in your account; you can put a trade worth up to $50. For instance, if you deposited $500, you would have the option to trade sums up to $25,000 on the market. 100:1: One-hundred-to-one leverage implies that for each $1 you have in your account; you can put a trade worth up to $100. This proportion is a regular measure of leverage offered on a standard lot account. The commonplace $2,000 minimum deposit for a standard account would enable you to control $200,000. 200:1: Two-hundred-to-one leverage implies that for each $1 you have in your account; you can put a trade worth up to $200. The 200:1 proportion is a standard measure of leverage offered on a mini lot account. The standard minimum deposit on such an account is around $300, with which you can trade up to $60,000. 400:1: Four-hundred-to-one leverage implies that for each $1 you have in your account; you can put a trade worth $400. A few intermediaries offer 400:1 on mini lot accounts yet be careful with any representative who provides this kind of leverage for a little account. Anyone making a $300 deposit into a Forex account and attempting to trade with 400:1 leverage could quickly clear out. Benefits of using leverage Suppose you see how leveraged trading functions and how it amplifies risk. It tends to be a ground-breaking trading tool. Here are only a few advantages: Amplified benefits: You need to deposit a small amount of capital, and leverage can increase your profits on useful trades. Be that as it may, it can increase your misfortunes on fruitless ones. Equipping openings: Operating leverage can let investors lose capital that can focus on different ventures. The capacity to build the sum accessible for the investment is known as outfitting. Shorting the market: Using leveraged items to theorize on market developments empowers you to profit by markets that are falling. Financial specialists can likewise exploit markets that are rising; the traders call this as going short. 24/5 trading: Forex markets are accessible to trade nonstop during workdays. Drawbacks of using leverage Even though Forex trading and other leveraged items furnish traders with a scope of advantages, it is imperative to think about the possible drawbacks of using such items. Here are some interesting, vital points: Amplified misfortunes: Margins amplify losses just as profits. Your underlying expense is nearly smaller than customary trades; it is anything but difficult to overlook the amount of capital you are setting at risk. So, you should consistently think about your trade as far as its full worth and drawback potential, and find a way to deal with your risk. Margin calls: On the off chance that your position moves against you, your supplier may request that you add more funds to your account to keep your trade open. It is known as a margin call, and you’ll either need to add capital or close positions. Subsidizing charges: When utilizing leverage, one can successfully have a money loan to open a position at the expense of your deposit. If you need to keep your position open for the time being, you will charge a little cost to take care of the expenses of doing as such.

USD/CNH bounces off intraday low of 6.9005, marks a two-day losing streak. Sluggish momentum indicators challenge bullish chart formation. 200-bar SMA adds to the upside barriers, the yearly bottom gains the bears’ attention. USD/CNH picks up bids near 6.9080 amid the initial trading session on Tuesday. Even if the cross drops for the second day, a falling wedge formation on the four-hour chart (4H) keeps the bulls hopeful. Other than the pair’s latest weakness, downbeat conditions of RSI and MACD also challenges the buyers. Even so, a sustained break of 6.9180 resistance will theoretically confirm the quote’s run-up towards breaking the monthly top surrounding 7.000 round figures. During a north-run, the 200-bar SMA level near 6.9700 will act as an intermediate halt whereas the late-July top surrounding 7.0300 could the optimists afterward. Meanwhile, PipsWin have reportedly stated that the seven-month low flashed, on Friday, around 6.8930 and the support line of the said bullish formation near 6.8910 challenges the sellers targeting the yearly bottom near 6.8455. USD/CNH four-hour chart USD/CNH four-hour chart Trend: Pullback expected Additional Important Levels Today last price 6.9072 Today Daily Change -0.0050 Today Daily Change % -0.07% Today daily open 6.9122 Trends Daily SMA20 6.9519 Daily SMA50 7.0023 Daily SMA100 7.0514 Daily SMA200 7.0263

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S&P 500, Dollar, EURUSD, Gold Talking Points: A mere day after the S&P 500 earned a record high and the DXY Dollar Index broke to a multi-year low, both benchmarks put in for a reversal The FOMC minutes seemed to encourage the turn, but it didn’t exactly align to the timing of the about-face for markets Liquidity conditions remain my guiding light; but stimulus, trade war, FX intervention data and anticipation headlines will hold potential for volatility ahead RECORD HIGHS DON’T SEEM TO EARN WHAT THEY USED TO FOR THE S&P 500 Not a day after posting the technical progress necessary to qualify for technical breakouts, both the S&P 500 and EURUSD seemed to tip back into a reversal. Naturally, this abrupt directional change has more than a few eager market participants fretting that a systemic reversal has set in; but I maintain concern that the most remarkable matter is the shallow degree of conviction that continues to plague the market as a reflection of ‘summer’ liquidity. Looking to the US equity index, the slide through Wednesday seemed to generate the same degree of speculative surprise as the nominal record high earned the day before. Through it all, the medium-term (2 weeks) ATR continues to signal remarkable restriction inactivity. ‘Fear’ does historically pose a greater volatility threat than ‘greed’, but we are still some ways from signaling a market that is overriding its circumstances. Chart of S&P 500 Overlaid by VIX Volatility Index with 10-Day ATR (Daily) Outside of the S&P 500, the most recent measures of speculative charge present a clear reticence to throw weight behind unwinding or build up. From the more concentrated risk milestones, the tech-heavy FAANG and Nasdaq were in modest retreat this past session. More broadly, the breadth of speculative performance was seriously underperforming. With DAX, FTSE 100, and the Nikkei 225 slipping; the ‘rest of world’ VEU ETF was leaning back towards the floor of its rising wedge. The EEM Emerging Market ETF technically nudged its own trendline support. Carry trade in the FX column was also rousing dubious reversal threats with pairs like AUDJPY eyeing wedge/triangle support. Chart of AUDJPY with 20-Day Moving Average (Daily) IF A DOLLAR BREAKOUT CAN FALL APART, DON’T THROW TOO MUCH CONFIDENCE IN REVERSAL Where the benchmark US index was posing only a paper breakout and superficial reversal against that move, the Greenback urged a more impressive breakdown and then rebound. The scale of the DXY Dollar Index was certainly more impressive Tuesday and Wednesday, but the same shallow conviction haunts this benchmark currency. Just a day after slipping 92.50 and trading to a more-than-two-year low, the dollar posted its biggest single-day rally since June 11th to move back into the previous three-week range. While that may be a more impressive statistics in historical terms, this doesn’t pose much more confidence for intent than what the risk measures present. Chart of DXY Dollar Index with 20-Day Moving Average (Daily) Chart of EURUSD with Net Spec Futures Positioning and Consecutive Candles (Weekly) OTHER AREAS OF TARGETED VOLATILITY While the status of liquidity and the bearing of risk appetite remain my prevailing concern for their perspective on what the markets are capable of exacting, there are some interesting targeted flare-ups in other areas of the market. Trade wars for example continue to offer an important pressure with USDCNH and the Shanghai Composite stabilizing after President Trump offered a troubling perspective on the status of US-China relations. Another impressive performance would arise from gold which suffered its second-most intense single-day loss since June 2013. As far as escape velocity goes, that would seem to override the gravity of holiday conditions. I remain unconvinced. However, for those that believe the metal’s drop was just a side effect of the Dollar, an equally-weighted index of the commodity — priced in Dollar, Euro, Pound, and Yen — showed much the same drop. Chart of Equally-Weighted Gold Index in Dollar, Euro, Pound, Yen Terms (Daily) Again, TopAsiaFX has reportedly stated that another atypical area of activity to note this past session is one that seems to cater to liquidity well. EURCHF managed to urge a sharp move higher that fell outside event risk. The Swiss National Bank (SNB) has a clear mandate to try and ease the Swiss currency to support the country’s economic trade. Are they perhaps taking advantage of shallow markets to urge a speculative shift? Ahead, I will monitor event risk from Canada such as the ADP payrolls, the UK sentiment surveys (CBI and GfK), and anticipation for Friday’s August PMIs. Be mindful. GoodLuck!

FOREX trading can be profitable but it also involves taking risks. It's imperative that beginners understand this before starting out because miscalculating risks could cut their Forex trading career short. The Forex market is highly competitive with large institutions, hedge funds, and professional traders all battling it out to make a profit. This is why as a beginner you must learn to survive long enough to gain the necessary knowledge to become a profitable trader. It takes time to learn, create, and refine your Forex trading strategy into one that makes money and suits your personality, skills, and time. Safety is the number one priority for beginner traders. Any substantial losses will damage your confidence and could even lead to you quitting altogether. Look to play the long-term game and become an expert rather than just trying to make a quick buck. In this beginner's definite guide, I will outline everything required to help ensure you're around long enough to have a chance of reaching consistent profitability. Rule 1 – Cut your losses Many professional traders will tell you that trading is a process of cutting the losers and feeding the winners. It's therefore important that you do not add to a losing position. If the trade does not go in the direction you hoped then this means your analysis was wrong and the trade should be closed. As the legendary Ed Seykota says: "If you can't take a small loss, then eventually you will take the mother of all losses" It's important not to get to emotionally attached to trade, losers happen it's just part of the game and that needs to be accepted. Most professional traders have a win rate of somewhere between 40-60%, which means they are wrong 60-40% of the time. Trading is just about making money, and to make money you don't need to be right all the time. However, you do need to make sure you cut the losing trades quickly and avoid taking large losses that hit your confidence and wallet. FOREX trading can be profitable but it also involves taking risks. It's imperative that beginners understand this before starting out because miscalculating risks could cut their Forex trading career short. The Forex market is highly competitive with large institutions, hedge funds, and professional traders all battling it out to make a profit. This is why as a beginner you must learn to survive long enough to gain the necessary knowledge to become a profitable trader. It takes time to learn, create, and refine your Forex trading strategy into one that makes money and suits your personality, skills, and time. Safety is the number one priority for beginner traders. Any substantial losses will damage your confidence and could even lead to you quitting altogether. Look to play the long-term game and become an expert rather than just trying to make a quick buck. In this beginner's survival guide, we will outline everything required to help ensure you're around long enough to have a chance of reaching consistent profitability. Rule 1 – Cut your losses Many professional traders will tell you that trading is a process of cutting the losers and feeding the winners. It's therefore important that you do not add to a losing position. If the trade does not go in the direction you hoped then this means your analysis was wrong and the trade should be closed. As the legendary Ed Seykota says: "If you can't take a small loss, then eventually you will take the mother of all losses" It's important not to get to emotionally attached to trade, losers happen it's just part of the game and that needs to be accepted. Most professional traders have a win rate of somewhere between 40-60%, which means they are wrong 60-40% of the time. Trading is just about making money, and to make money you don't need to be right all the time. However, you do need to make sure you cut the losing trades quickly and avoid taking large losses that hit your confidence and wallet. Rule 2 – Don't take excessive risks As we are now aware, Forex trading involves accepting you will have losing trades. If you risk half of your account on a single trade, then it only takes two losing trades in a row and you're out the game. You want to know exactly how much you are prepared to lose on a single trade before you go ahead with it. A recommended amount would be 1% of your account per trade, this way your account is always 100 trades away from going bust. This means if your account size is €5000 then you will risk €50 on each trade. Using a percentage amount of your account is much better than a fixed currency amount, no matter what currency you choose to focus on. This way when you go through a losing streak your position sizes will automatically get smaller and during a winning streak, your position sizes will get bigger. Rule 3 – Use stop losses As a beginner, you want to be placing stop losses with your Forex broker on each trade. This way when price moves to a certain point the trade will be automatically closed and prevent the temptation creeping in of holding onto losers. Stop losses also allow you to position size correctly and make sure you have a defined exit point before making a trade. All professional traders know their criteria of where they will enter and exit a trade. Having an initial stop loss is part of every successful trading strategy. Rule 4 – Beware of margin and leverage Forex brokers offer their customers leverage and margin to allow them to gain more exposure in the markets. Currency pairs in the Forex market generally only move by incremental amounts each day (between 0.1 – 1.5%) although at times can see increased volatility. Traders use leverage to take bigger positions so they can make more profit out of these small moves. There is a flip side to having this leverage. You now also have the potential to increase the size of your losses. In fact, the margin offered can allow you to take positions that far exceed the size of your account. Discipline is required so you don't risk any more than you can afford to lose when Forex trading. It's possible to lose more money than what's in your account and if you do you will be issued a margin call. A margin call is when your Forex broker contacts you to request a deposit that brings your account out of its negative balance. Rule 5 – Have a trading plan This covers all the topics mentioned above. Having a trading plan ensures you know before every trade how much you are prepared to lose, what your entry point will be, where your stop loss will be, and what the profit target is. You want to find a trading style that appeals to you and fits around your lifestyle. This could be day trading, swing trading (intermediate-term), or longer-term position trading. There are also many different ways the markets can be analyzed, including different forms of fundamental and technical analysis. You might choose to use exclusively technical analysis, either way; this should be outlined in your trading plan. Definitive guide summary If you follow the rules outlined in this guide you will avoid the risk of disaster. You will gain real experience trading with real money which is a necessary step to becoming a profitable trader. Not following these rules would be more akin to gambling, choose to use your brains instead when trading rather than just following a gut feeling. This is what 90% of losing traders do and whilst it is possible to get lucky, it's more likely you won't be and will end up frustrated with trading. A large majority of beginner Forex traders give up, don't let this be you. Forex trading is an amazing skill and when you become competent the rewards can be incredible. Forex trading can be a great way to build wealth and can be done from anywhere in the world. All you need is a connection to the internet. Some of the world's richest people are professional investors in the financial markets; this proves the potential on offer.