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  1. While the essence of using a forex indicator is to get positive results, or better put, a profit. Using the best forex indicator doesn’t automatically guarantee steady profits without the knowledge of the market. No doubt, expert traders can still smile to the bank without using forex indicators, but if you are a beginner, using forex indicators can help you with things pointed below: *. Finding a trade idea *. Determine a position that is not obvious to naked eye *. Save time that would have been used to analyze the market. Traders must opt for fore trading signal systems that offer buying/selling signals on the basis of accurate decisions taken by expert trading analysts. By simply recognizing the major trend’s direction, traders can attempt to make money by placing their trades in the direction of the trend. The main aim of trend based forex indicators is to help you determine whether you should enter into a short or long position. One of the most common trend-based trading methods is the moving average crossover. Every forex indicator will simply show you different visual representation of this same information. RSI, MACD, CCI, Stochastics & Bollinger Bands are all built using these 2 variables. No indicator contains a secret sauce capable of telling you when to enter and exit the market at the perfect time.
  2. Forex News - NZD/USD jumps to 0.7055 as the US dollar slides across the board US dollar drops across the board after US CPI data. NZD among top performers on Wednesday, supported by RBNZ expectations and risk appetite. The NZD/USD jumped from 0.7000 to 0.7055, reaching the highest level since Friday following the release of US inflation numbers. The pair then pulled back, finding support at 0.7035. The kiwi is consolidating the rebound from the 20-day simple moving average that stands at 0.6980. AUD/NZD is back at the monthly low at 1.0455. US data triggers dollar’s slide The Consumer Price Index grew at an annual rate of 5.4% in July, the same of June (highest in 13 years). The CPI rose 0.5%, in line with market expectations. The greenback dropped sharply across the board after the numbers, amid a rally in US Treasuries. Also higher equity prices contribute to weaken the US dollar. If expectations about a sooner-than-expected taper from the Federal Reserve gain more intensity, the dollar could recover momentum. Still, analysts at Westpac consider the kiwi should be more resilient than most developed currencies to USD strength given New Zealand’s strong fundamental outlook. “Multi-month, the NZD is supported by the NZ economy’s expected strength over the remainder of this year, the RBNZ’s signalled rate hikes, NZ-US yield spreads, and a positive outlook for NZ commodity prices. Our year-end forecast for NZD/USD is 0.74 (which is coincidentally where our estimate of fair value currently is)”, argue Westpac analysts.
  3. Bitcoin is the most popular instrument among traders dealing in the cryptocurrency market. Since its first appearance in 2009 it has experienced exponential growth and, whilst its millionaire-making heyday is thought to have passed, it remains the most commonly traded digital asset and holds significant profit potential for savvy investors. The current bitcoin supply is capped at 21 million, which is expected to be exhausted by 2140. A finite supply means that the price of bitcoin could increase if demand rises in the coming years. Instead, you should use this article as a starting point for your research before utilising one of the many available demo accounts to hone your trading skills before opening a live position. Here are some tips about Bitcoin trading. 1. Have a Reason for Every Trade Enter a trading position only when you know why you’re entering it and have a clear strategy in mind. Not all traders are profitable. 2. Start out Small The first of our bitcoin trading tips is to proceed with caution and start with a relatively small investment. 3. Clear Stops, Clear Targets: Have a Plan For each trading position, we must set a precise target level to take profit and, perhaps even more importantly, a stop-loss level for cutting losses. Setting it involves deciding on the maximum loss we can afford to take before the position gets closed. 4. Choose a Secure Wallet Your bitcoin wallet is a holding pen for your digital assets so it’s important to choose wisely to ensure security and ease of access. 5. Risk Management: Not Just for Crypto Pigs get fat; hogs get slaughtered. This statement tells the story of profits from our perspective. To be a profitable trader, you never look for the edge of the movement. You look for the small gains that will accumulate into a big one. You can learn more at forum.forex forum.forex - Online Forex Forum for Forex Traders, Forex Brokers, Forex Signal Providers, Forex Trading News and Forex Traders Education Resources Discuss the Forex Market, Currency Trading Strategies and Forex Leverage. Share tips, Ideas and Market-Moving Data
  4. I just found this Forex course and it helped me to understand how the forex market moves, You can download it for free using the link below. Also let me know in the comment section if the link is not working again. Thanks Regards. Click Here To Download The Course
  5. Midway through trading Friday, the Dow traded up 0.39% to 35,029.73 while the NASDAQ rose 1.02% to 14,689.65. The S&P also rose, gaining 0.57% to 4,431.01. The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 37,296,810 cases with around 625,180 deaths. India confirmed a total of at least 32,358,820 cases and 433,580 deaths, while Brazil reported over 20,494,210 COVID-19 cases with 572,640 deaths. In total, there were at least 210,073,340 cases of COVID-19 worldwide with more than 4,404,570 deaths, according to data compiled by Johns Hopkins University. Leading and Lagging Sectors Information technology shares rose 1.3% on Friday. Meanwhile, top gainers in the sector included Pixelworks, Inc. PXLW 21.06%, up 18% and VirnetX Holding Corp VHC 11.2% up 13%.In trading on Friday, energy fell 0.5%. Top Headline Deere & Company DE 1.82% reported better-than-expected results for its third quarter on Friday. Deere reported quarterly adjusted earnings of $5.32 per share, surpassing analysts’ expectations of $4.57 per share. The company’s quarterly sales came in at $11.53 billion, versus estimates of $10.30 billion. Deere raised its FY21 net income guidance from $5.3 billion -$5.7 billion to $5.7 billion -$5.9 billion. Equities Trading UP GeoVax Labs, Inc. GOVX 53% shares shot up 42% to $6.12 after the company presented data from ongoing studies of its preventive vaccine against COVID-19, showing its modified virus Ankara - virus like particle platform, has a design strategy for vaccines that is expected to induce broader immunity through inclusion of multiple structural and nonstructural proteins from the target pathogen. Shares of Flora Growth Corp. FLGC 26.22% got a boost, shooting 26% to $11.09 after the company reported its financial and operating results for the six months ending June 30, 2021, revealing revenues of over $2 million, compared to revenues of approximately $100 000 in the same period of last year.360 DigiTech, Inc. QFIN 15.3% shares werealso up, gaining 14% to $19.32 after the company posted a rise in Q2 sales Check out these big movers of the day Equities Trading DOWN Sonnet BioTherapeutics Holdings, Inc. SONN 50.28% shares tumbled 48% to $0.6321 after the company priced a 35.29 million share offering of common stock and warrants at $0.85 per unit.Shares of HEXO Corp. HEXO 27.66% were down 25% to $2.4017 after the company reported a $140 million public offering.Progenity, Inc. PROG 55.46% was down, falling 54% to $0.6800 after the company reported pricing of $40 million public offering of common stock and warrants. Commodities In commodity news, oil traded down 0.7% to $63.23, while gold traded down 0.1% to $1,780.90.Silver traded down 1.3% Friday to $22.93 while copper rose 1.8% to $4.1150. Euro zone European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.38%, the Spanish Ibex Index gained 0.38% and the German DAX 30 gained 0.17%. Meanwhile, the London’s FTSE 100 gained 0.45%, French CAC 40 rose 0.33% and Italy’s FTSE MIB slipped 0.04%.German producer prices jumped 10.4% year-over-year in July following an 8.5% increase in the previous month. Retail sales volumes in the UK declined 2.5% in July, while the GfK consumer confidence index declined to -8 in August. Economics The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
  6. The US dollar rose against other currencies after a senior Federal Reserve official said that the bank should exit its emergency bond-buying program. In an interview with the Financial Times, Eric Rosengreen, CEO and president of Boston Fed, said that the ongoing bond purchases were ill-suited to address some of the challenges facing the economy like supply shortages. He said that the solution was for the government to end some of its stimulus measures and urge people to go back to work. This has, in turn, led to supply shortages, which has pushed prices higher. The British pound tilted higher even after the relatively weak UK inflation data. According to the Office of National Statistics (ONS), the country’s consumer price index (CPI) declined from 2.5% in June to 2.0% in July. This decline was worse than the median estimate of 2.3%. The core CPI that excludes the volatile food and energy prices declined from 2.3% to 1.9%. This was lower than the estimated 2.2%. Meanwhile, the producer price index input and output rose to 9.9% and 4.9%, respectively. The NZDUSD wavered after the latest Reserve Bank of New Zealand (RBNZ) interest rate decision. The bank decided to leave interest rates unchanged at 0.25%, where it has been in the past few months. Analysts were expecting that the bank will hike interest rates by about 0.25%. In its statement, the bank attributed the decision to the country’s reintroduction of level 2 lockdowns after it reported one Covid-19 case. NZD/USD The NZDUSD pair declined after the latest RBNZ decision. It initially declined to 0.6868, which was the lowest level since November. It is trading at 0.6895, which is below this month’s high of 0.7090. On the four-hour chart, the price is along the lower side of the Bollinger Bands while the MACD has declined substantially. Therefore, the pair will likely bounce back in the next few days as New Zealand manages to address the Covid situation. GBP/USD The GBPUSD pair tilted slightly higher as investors reflected on the latest UK inflation numbers. On the four-hour chart, the pair moved to the lower line of the descending channel. The pair has also formed an inverse head and shoulders pattern, which is usually a bullish sign. Still, it remains below the 25-day moving average while the Relative Strength Index (RSI) has moved below the oversold level. The pair will likely bounce back ahead of the FOMC minutes. USD/JPY The USDJPY pair rose to a high of 109.63, which was slightly above last Friday’s low of 109.10. On the four-hour chart, the pair is still below the 25-day and 15-day moving averages. The MACD indicator has made a bullish divergence pattern while the moving average of oscillator has moved above the neutral line. Therefore, the pair will likely continue rising as bulls target the key resistance at 110.
  7. In the world of forex trading, there are no guarantees on profit, and risk exposure is inevitable. A professional forex signals service provider will never try to trick its users by advertising guaranteed profits and returns. On the other hand, the trusted names in this sector will be transparent about their performance, offering you insight into their past performance by publishing reports on how effective their signals were. Frequency and diversity in forex signals The ideal forex signals’ service provider for you should publish an adequate number of forex signals and trade ideas through the day and offer a good mix of trading instruments, including the ones that you like to trade the most as well as other options so that you can diversify your trading portfolio and experiment with new instruments to spread out your exposure. In addition to trade ideas offering a variety of instruments, an ideal provider should also offer a good mix of long-term and short term signals so you can try different kinds of trading strategies, such as swing trading and intraday trading. Clarity into past performance Their performance reports should offer the following information – how many signals they published over a specific period of time, e.g. one year, the percentage of wins vs. losses, drawdowns, the number of pips generated or earned by their forex signals, as well as details about gains in percentage terms over the past few years. Of course, keep in mind that past performance is never an assurance for future profits. However, a forex signals’ service provider that is honest about its wins and losses, and gives you the numbers so you can assess its performance is far more reliable than those that make empty, lofty promises of doubling your money. When tracking the performance of the signals provider, there are a few important things that you need to assess. Of course, the overall profit raked in by their trading signals is a great way to know how useful their service will be for you, but you also need to dig a little deeper to assess their performance. The total number of pips earned by the forex signals is an important measure of how exactly the profits were generated, for instance, did they come from a few pips on high risk/high margin signals or in the form of a higher number of pips from signals with different levels of risk/exposure. In addition, you should also check to see if the signals provider offers details on their win rate – the number of winning signals from the total number of signals published. Quantity vs. quality of signals It would also be helpful if the provider offered a breakdown of the number of signals published and the profit to loss ratio for each kind of instrument they cover. In addition, a deeper insight detailing the breakdown of the trading signals based on buying vs. sell, long term vs. short term, and different types of instruments, e.g. forex, commodities, cryptocurrencies, and indices, can also go a long way in helping you make an informative decision on selecting the right forex signals service provider. Timing matters The best forex signals provider for you should be one that publishes enough trade ideas through the hours when you are most active. For instance, if you like to trade the US session markets, there is no need to go with a provider that pushes more signals during the Asian session, which are too many missed opportunities as far as you are concerned. In addition, ensure that the provider has a reliable way to alert you whenever a new forex signal is published so you can choose to act on it immediately. The more time you lose in making a trading decision, the lower the possible returns become as other traders may beat you to it. I will recommend Hot Forex Signal as a professional Forex signals provider.
  8. I have started trading for the last few months back say 8 months. When I was a beginner, I committed many mistakes and blew my account even once. Then I joined some free signal groups and believe me they are real scammers. Please don't follow them at all. I got some books and learned little fundamentals of the market. I trade for one month but could not book much profit. then I joined a paid signal provider but as they promised they will double my money and blah blah... They were also fake promisers. 2 months back I joined another signal provider named Hot Forex Signal which promised me 1200 pips, though I got 1200 pips bcoz of my work and all I am satisfied with their transparency and services. I had continued this time also. The only thing is they are more active in the London sessions. But they are reliable. Forex is a vast subject to learn and a great roller coaster for fun. I think everyone should try Forex once in life.
  9. Starting a forex trading business is a relatively simple undertaking. All you need is a reliable forex broker, a feature-rich trading platform, and a small amount of capital to buy and sell currency pairs. However, there are certain pitfalls, risks, and factors that you need to be aware of to trade effectively and turn a profit. The Forex market is inherently different from the stock market. More than $5tn is traded every day, mostly by ‘institutional’ traders connected to large institutions and companies. These trades account for 94.5% of activity on the forex market. When starting a business, you will work as a retail trader and make use of leverage offered by brokers to support your entries into and exits from the market. Learn the basics You can trade without prior knowledge of forex, but it is not recommended as you will run up significant losses very quickly. Opening a demo account is arguably the best way to get to grips with the different aspects of Forex trading as you will be able to experiment freely and adopt new strategies without the fear of financial setbacks. You can also watch video tutorials, attend webinars, and read relevant blogs and articles for both basic and advanced insights. Another key skill for forex trading is technical analysis. Mastering the art of reading charts and indicators such as Bollinger Bands, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) will enable you to identify movements and trends that can be used to make profitable moves. Select a reliable broker Forex brokerages effectively act as a middleman between you and the forex market, so it is vital that you choose a broker that is not only reliable and regulated but also well suited to helping you achieve your financial goals. Legitimate traders will provide you with a trading platform that is secure, has access to major pairs, and offers additional tools and charts to support your decision-making. Be aware that there are scam brokers that will attempt to dupe unsuspecting victims with a range of fraudulent practices such as Ponzi schemes and signal seller scams. Malicious third parties may also attempt to present themselves as reputable outlets and promise large profits, when in fact they are fake or illegitimate. You can find authentic brokers by reading reviews and investigating them beforehand. Organize your trading capital Trading foreign currencies have a lower point of entry compared to stock as investors can set up an account with as little as $10 or $20. Brokers also offer something called to leverage that allows you to trade more than you have in your account. Leverage of 50:1, for example, would give you access to $100,000 if you deposited $2,000 into a margin account. While leverage is beneficial for beginners as it increases their trading position beyond an opening cash balance, it can amplify losses and lead to financial woes if not used correctly. If you manage leverage carefully though, you can mitigate many of the downsides and use it to your advantage. Practice, practice, practice As noted earlier, opening a demo account will give you free rein to practice your trades so that you have a better understanding of when to buy and sell at the right time. This is also a perfect opportunity to try out new strategies and tactics. You should keep practicing for a few weeks at least or until you feel comfortable making the step up to real money. Trade For Real Money Trading real money on forex will expose you to certain pitfalls that you may not have experienced during your practice trade. It is important to remember that forex is not a shortcut to instant wealth. You will need to slowly nurture and develop your account, especially during the formative weeks and months, to make sustainable profits. However, don’t be deterred by a losing streak either. It is statistically normal for even the most successful traders to run into a barren period when losses mount up. These downturns should not be a signal for you to close your account as you should eventually be able to bounce back if you keep making the right moves. Finally, just because you have started a forex business does not mean that you have to be trading 24 hours a day, seven days a week. The forex market is ‘always on’ due to the time zones for each region, but try to work for a set seven or eight-hour period that fits into your daily schedule at first and then go from there. Remember, the smartest move sometimes is to sit back and not enter the market. Taking this advice on board will give you the best chance of setting up a business that can support profitable day trading on the forex market.
  10. One of the hidden truths behind profitable trading is to focus more to avoid losses than making profits. Not only at the beginning but you also have to always focus on avoiding unnecessary risks and losses. And, take my words this should be your main objective in order to build a successful trading career. Question: How the hell do I even do that? Answer: Stop-Loss orders are the smart solution that will be able to diminish your troubles. Besides, Stop-loss is used by numerous traders all across the globe. It prevents you from making haste decisions. And the next BEST thing? Your trades will be stopped on certain points which often saves you from HUGE losses. Because what’s there to say, " The Forex market is quite unpredictable". So, the stop-loss order can be referred to as a vastly essential trading asset for both experienced and new traders. From ForexCopier.com you should get a few advanced benefits: Ignore original order’s SL and TP. Set custom SL and TP for orders which are opened on Receiver account. Move SL and TP of copied order according to the difference between prices of initial and copied orders. Think of a stop-loss as an insurance policy: You hope you never have to use it, but it's good to know you have the protection should you need it.
  11. As all those peoples who have trading experience should be fully aware about short term and long term trading. Everyone having different opinion about that so share you personnel opinion?
  12. Here are the best top 5 online forex trading websites.....! http://www.themoneyathome.com
  13. 1. What is the best Forex platform? There is no one way to answer such a question. This will of course depend on the trader, in accordance with his preference, knowledge, experience as well as what he intends to trade (which financial instrument). Many intermediate-experienced traders, especially when trading on the currency market, prefer to use platforms such as MT4 or C-Trader which are designed mostly for Forex trading, as well as CFD trading, and for someone with some knowledge of the trading market. Others, more novice traders would prefer the use of such platforms as ones found from Easy-Forex, iForex, or eToro, where limited math/ computational knowledge is required for their use and are a lot more straightforward to use.More advanced/ experienced traders, which may also prefer access to multiple markets would prefer to use such brokers as Interactive Brokers or SAXO Bank's SAXO Trader. Such platforms usually contain much more advanced charting/ analytical tools (although to be fair most analytical tools can also be obtained from MT4/ C-Trader) and also give access to thousands of instruments including Equities, ETF's, Swaps trading etc; and are designed with the ability to effectively allow traders to partake in such markets. 2. Forex Trader: What is the best way to do forex trading? If you've looked into trading forex then you have most doubtable been exposed to all the various opportunities to make money and are wondering which is the best way to learn forex trading. First of all, the foremost thing I would advise is to get a Forex Education. There are countless material on Forex in the internet for newcomers as well as experienced traders - all you need to do is search. Spend some time reading up on how forex trading works, the concepts behind trades and how prices are impacted by economic and political conditions. Secondly you must get some experience, if you want to learn forex trading, it's the only way. To begin with it is prudent for this to be on a demo account. This will give you a good technical foundation on the mechanics of making forex trades and get used to using a trading platform.After having traded for some time on a demo account it is very important to also use a Real one, albeit with little investment amount - find a broker that will accept lower sized trades (0.01 lots for FX) so that you can get a real feel for the live market. It is a whole different game trading on a demo and real platform, due to the psychological effect that trading with real money has. Trading small will allow you to put your money on the line, but at little risk if you make mistakes or lose money.From there, provided you are gaining more than you are losing, you should gradually increase your trading size and invested capital, always keeping in mind it should be an amount you can afford to lose and which you feel comfortable with. 3. What is the best forex trading software? There are a number of Forex Trading software available, all with their specific advantages and disadvantages. Many trading companies have built their own platforms while others prefer to use, and in effect White Label, existing solutions which are commonly known within the industry.To say which one is best would be invalid as this falls on the opinion of the individual user, however there has been a clear trend in terms of popular platforms, which have proven to be favored among both novice and veteran traders. These platforms are the Metatrader 4 and C-Trader. The former has been built primarily for Forex products, while the latter has been designed to accompany other instruments such as Equities and ETF's. Both platforms are easy to use and master and come complete with full charting and technical analysis capabilities. 4. Forex Trader: How can one be a good forex trader? If it was to be summed up in one word, the key to a good forex trader is discipline. Yes there are many things to learn and know before you make any trades or get involved in the financial industry, but one thing that must stay consistent throughout is discipline. Discipline in learning, in making your first trades and in sticking with your plan.The basics that all new traders should follow are:- Learn about Forex - there is an abundance of material on the net. Spend a good 1 month learning. Study Technical and fundamental analysis. 5. Foreign Exchange Market: Is it possible for an amateur forex trader to make sustainable profits trading forex? Many Traders have made a living off of trading Forex and some have had very wealthy returns which have allowed them to become self-employed and leave the 9-5 work behind them. All of these traders have 1 thing in common - they all started out as an amateur forex trader! No one is born with the trading know-how; it is achieved through dedication and discipline.So Yes! an amateur forex trader can indeed make sustainable profits from trading forex. As long as he is willing to put in the effort and has the discipline to follow through with such a commitment then there is no reason why he cannot do what others have done before him in the same shoes. 6. Forex Trader: Who is the best forex trader? There is no one best Forex Trader reviews - or at least there is no clear way to measure this (is it the amount one has won or the % gained from it). Also as many of the top forex traders in the world do not trade with their own money but instead funds and Company capital, it means that different psychological and risk appetite conditions exist for different traders and as such makes it bias to compare such traders success with those who trade with their own capital.The one thing to know is that what a lot of Forex traders do have in common is their appetite for success, their diversified portfolio and willingness to take measured risk. 7. Has anyone ever made money trading FOREX? Yes! Not only have people made money trading Forex but many have made a livelihood!Although the majority of retail traders would not have as much success as professionals would, this is largely attributed to poor money management strategies and lack of discipline in sticking with their strategy.With 100% discipline and a good money management strategy, there is no reason why anyone should not have a good chance in making money from trading Forex. 8. Is FOREX the best way to invest money? It is hard to say if it would be the Best as there are numerous ways of investing money and would largely depend on what the individual is familiar with; however it is one of the best, largely to the fact that unlike stocks/ housing market - an investor can make money regardless of the how the instrument is doing by both selling/ buying that instrument (or doing both - known as hedging).In the Stock market it is only possible to invest in the success of a stock - however in Forex you can both buy/ sell a certain currency against another and hence there is always a possibility for profit to be made.Also the fact that Forex is commonly traded on leverage, it allows Forex trading to become one of the most volatile and hence allows for higher profits (as well as losses) to be made - if traded correctly. 9. Foreign Exchange Market: What are the best forex blogs? There are a number of locations on the web to find a great forex related blog, in fact many brokers have their own blogs also; but in order to remain unbiased I will recommend a non-broker blog. One of the most useful blogs for both novice and veteran traders alike is at https://55brokers.com - there is a regular update on current market movement as well as an abundance of information and back-forth ideas being expressed. 10. Is Olymp Trade a scam or legit broker? No, it is not safe to trade with Olymp Trade. Olymp Trade is owned by Smartex International Ltd which is an offshore company registered in St. Vincent and the Grenadines. 11. Why do individual investors usually lose money in Forex? The majority of retail investors end up losing money in Forex. In spite of the fact that they may receive the right training and educative material (or at least the same as some other successful traders may receive) many often fail due to bad money management rules and/or lack of discipline. The latter is the most often.The hardest thing in Forex is not making the calculations or predicting where to enter, how much to trade and/or what your limits should be; it is sticking to your strategy and following through with 100% discipline.
  14. Forex trading is the act of speculating on financial price movements of currency, with the intention of earning a profit through them. Forex trading can also be done by using various technical indicators, which help in identifying changes in trends. Some of these indicators are referred to as fundamental indicators, while others refer to fundamental or technical analysis – but they all share the same purpose. For beginners, they would usually want to work with an expert broker like FP Markets before they begin trading. How to Analyze Forex Market There are many forex strategies you can use, but it takes a lot of training and experience to be successful in trading. Traders who prefer to rely on their technical skills can then place a sell order on a particular time to profit from the difference between the price at the time of purchase and the price at the time of sale. Here are four ways you can analyze the forex market when making a trade: Looking at Historical Data The most important thing to know about the technical analysis of forex is that it takes into consideration not only the current market trend but also past trends. Analysts use this information to predict what the market will do. These types of strategies involve looking back in time to predict the possible direction the market will take in and, therefore, predicting the exact time to place a particular trade. Looking at Patterns in the Current Market The next type of analysis used is to look at patterns in the currency markets. This type of forex trading involves analyzing and charting trends for specific currency pairs, which have been proven to increase the price of the currency over an extended period of time. If you look at trend patterns in the forex market, you will notice that there are certain cycles that happen throughout the year. For example, a trend is created when the price of the currency rises in the spring, drops in the summer, rebounds in the autumn, and then continues to rise through the winter and summer. Using Psychology of the Buyer The third type of analysis used by a successful forex trader is studying the psychology of the buyer. In the forex market, there are two personalities: bulls and bears. The bulls are the buyers and traders taking long positions when buying currency. Meanwhile, the bears are the sellers and their strategy is to sell the currency to suppress or drop the price. Looking at Technical Indicators The final type of analysis used is to learn about technical indicators. These are essentially numbers that are used in forex trading to help the trader make decisions. These kinds of indicators can show the movement of the market in terms of the price changes and the way in which it is trending. Summary It’s important to know that, like stock markets, forex markets are not risk-free. They involve the movement of one currency against another. The goal is to make a profit on each trade. If you want to profit from forex trading, you must be patient. As in any market, you cannot expect to make huge profits overnight. You need to take your time and do the research to determine which forex strategy will provide you with the best results.
  15. To provide a signal to you, "hot forex signal", is the best accurate forex signal provider in the global currency market. It is different and a few more special than others. Because they have an outsized "forex market" analytical expert team who makes an efficient analytical report. On the idea of an analytical report signal is formed. Has a monitoring team to watch the market and accuracy of the given signal. As their observation report, hot forex signal is 95% accurate. Hot Forex Signal assist you to regulate "Take Profit" and "Stop-loss". It's constantly monitoring the market, regardless of your location within the world. It will take place in the market and you will be notified by e-mail and messenger at the time of market movements.
  16. US equities were stronger Monday, the S&P rising 0.3% to close once again just shy of February’s record high. European stocks were more robust as well, but it was a mixed picture in Asia; China’s CSI300 rose by 2.4% after a PBoC stimulus injection had investors speculating that it could mean a supportive monetary policy from the PBoC. The Asia open has gotten off to a resounding start with the S&P 500 racing higher after US House Speaker Pelosi expects bipartisan support for a House Coronavirus Bill. This is one of the few positives we’ve heard in some time from the Democratic side of the floor and one would suspect it would be politically advantageous timing for the Democrats to steal the limelight during the Democratic convention by announcing the stimulus deal. Muggy, sluggish, and unsettled conditions are typically mirrored in markets at this time of year and political malevolence and the lingering pandemic have only added to stresses in 2020. Still, it was another day where everything rallied except the US dollar. Indeed, it’s an ideal investor situation with all assets pretty much roped to the hip of US policy stimulus, and the expectation is for more to come. Yes, big tech is doing its part, but when the bearish argument is centering on the failure to make new record highs on the S&P 500, it would suggest sentiment is in a pretty good place, especially with high-frequency indicators that investors track for the US not indicating that the recovery is falling off the cliff. FOMC minutes should reveal a dovish narrative on yield curve control and average inflation targeting, which is already showing signs of soothing rates after the selloff last week. But given what’s already priced, the market is unlikely to reassess the Fed’s medium-term rate path meaningfully. At the same time, the policy is super supportive; yet it may still disappoint those looking for the bazooka. The equity vs. higher yield riddle is less of a puzzle this week as rising inflation breakevens have offset higher yields so far, but risks are rising. History does suggest the relationship between equities and inflation expectations has been powerful during the crisis as they rise from shallow levels. Inflation expectations themselves have been more correlated to small-cap stocks than they have to 10-year nominal yields, oil, or gold since 28-Feb. As for the US-China escalation drums beating in the distance, I’m starting to wonder if US investors even care anymore, viewing it more of an “Asia thing” or changing their tune if Trump makes a move in the polls which could embolden the US administration trade hawks. Gold Markets After plunging 10%, washing out leveraged players and retail buyers who arrived late to the party, bullion has made an enduring comeback as strategic asset allocators bought the dip only to be followed up as those very same players who were recently washed out were getting back in the saddle after a break of $1,960 triggered reverse buy stops and sending more players back on to the golden rally bus. The dollar is trading a bit weaker and some pre-FOMC positions squaring are taking place. And while the latest bout of volatility has likely shaken gold investors to the core, the broader macro backdrop remains broadly unchanged, suggesting more and more stimulus will be needed to mend and repair the global economy severely fractured by the coronavirus. So gold remains a viable diversifier asset in this type of environment. And all the while, the US-China escalation drums beat in the distance as Taiwan formally signed and agreed to buy F-16 jets in a move that is likely to be denounced by China. Gold traded firmly in Asia and Europe but jumped in late European and early US hours. The reason for the rally was not immediately apparent as the markets started the week with no exasperating economic or political drivers. US-Sino tensions appeared more relaxed, given the US Administration’s more conciliatory tone on trade. The fresh injection of liquidity by the PBoC seems to support Chinese equities and may have also helped lift gold. Japan reported weak Q2 GDP data, which may have boosted safe-haven bullion buying. The latter underscored just how fragile the market remains to another secondary coronavirus shock. A weaker USD helped the rally with the move up reinforced by lower US yields; the yield on the 10-year Treasury fell to 0.66% from 0.71% previously. Lending support to gold was the rising tally in coronavirus cases globally, notably in India. Slightly higher UST yields are not a rally capper; it means something else needs to do the heavy lifting. So with commodity and oil markets getting a bounce for the PBoC liquidity injections, it benefited gold as inflation breakevens rose to offset the slightly higher yields from last week. Currency Markets The dollar is doing what it should do: falling on lower US yields as dollar bears take their last kick at the can before the release of the FOMC minutes, which is kind of on script. Interpreting what the lack of progress on a US fiscal stimulus means for the USD remains difficult. When politicians are more concerned about the price of stamps in the age of e-mail than putting food on people tables, I’m not sure what to think of the messy state of US politics, which is enough to encourage perma dollar bulls to sell the greenback anyway. But with the congressional bill close to a deal, the USD implication depends on whether the market views the “risk-on” element in the countercyclical narrative where positive risk sentiment, even if driven by US exceptionalism, sees the dollar weaken. But the levels of ambiguity remain thick, so trading the dollar straight up isn’t the cleanest trade on the book. With USD short positioning already massive, there could be some concerns that the FOMC minutes don’t check off enough dovish boxes that could see another unwind of oversold dollars. PipsWin.com has stated that a clear break is needed for the momentum to extend. The level is pretty much in-line with the previous highs in EURUSD coming in at 1.1910/20. The Ringgit The Malaysian Ringgit should trade more favorably as the US dollar weakens on positive risk sentiment. Still, traders may hold a defensive posture, not willing to test 4.18 ahead of tomorrow’s FOMC minutes. I suspect the Ringgit will take its cue from the broader G-10 dollar movement today. Additionally, oil prices are trading at 5-month highs, which should be favorable for the Ringgit.
  17. The wide world of trading has helped many people buck the trend of their 9-5 job, or at least helped them discover new ways to earn money. Finding a new source of income is important for building an independent life that can help you retire early, send your kids to college, live comfortably, or just give you some peace of mind in the bank. Forex trading is one of these potential income sources that may interest you if you are looking for ways to earn more money and learn new skills. First things first though are that you need a refresher on some of the terms and phrases that you need to know before you even commit to a real trade scenario. Just like riding a bike, you want to know what it is you are doing before going for a ride, and Forex trading can be intimidating to those that do not know much about it. Check out these must-know terms to help you get started on your Forex trading journey. 1. Currency Pair Trading currency means exchanging it on the global market. This global market is full of different types of currency, so currency pairing is the simple term to describe this exchange. USD (U.S. Dollar)/EUR (Euro) is a common example of a currency pair, so is something like GBP (Great British Pound)/CAD (Canadian Dollar). Currency pairing is also useful for traders as it allows for analysis for market research. Using currency pairs of common currencies, called major pairs, are the most traded, then you have things like cross pairs which are not major pair currencies, then exotics, for lesser currencies. As you can see, this is one of the more easy terms to understand as it relates to the actual currency you are trading within a broad sense. 2. Pip Pip, or percentage in point, is the 4th decimal point of a currencies value. So if you looked at a currency that was traded at 0.7842, the 2 is considered the pip. This value will fluctuate as markets naturally change short and long term, but the pip helps determine the value of trade when converting one currency to the aforementioned currency. Pips are a small but useful term to know, and once you get trading regularly you will be able to identify them easily to help you maximize your potential. 3. Stop-Loss Stop-loss is a term that relates to specific trading orders. The stop-loss is the action of setting a signified price to sell in order to prevent any loss. The stop obviously indicates the point at which you will hold until then sell, and loss speaks for itself in limiting any damage. This is one of the best Forex signals to receive, it helps limit any further loss, or keeps you from losing gains on a trade in the first place. Stop-loss is an important thing to know for beginner traders to help them make logical, not emotional trades. 4. Bullish/Bearish This term applies to financial markets as a whole, and you have likely heard them thrown around numerous times. Bullish, or bull market, is a euphemism to indicate that the markets are doing well and that there is expected growth to continue. Bearish and bear markets indicate a slowing down and decline of expected growth. The bull is meant to be a forward-moving, aggressive animal, while the bear in this context is an animal that spends a lot of its time sleeping, hibernating. These are useful terms to know what to expect out of trades regarding the general market movement. 5. Bid and Ask Price The bid and ask price are two terms that you are going to want to know when it comes to trading. These terms are associated with the price of a trade. The bid price is what a trader sets as the amount they will trade a currency pair for, while the asking price is what a trader will buy a pair for. What is known as the spread is the difference between those prices. Bid and ask price are key terms in understanding how Forex trading works and it is good to familiarize yourself with it quickly. 6. Trading Platform How do you actually start Forex trading? Well, you need a trading platform to do so. Much like using software to do your taxes, you need something to trade on. These platforms contain all of the information you need to understand what is happening in the market. Charts, live updates, tickers, as well as connection to your account. These platforms, often provided when you sign up with a regulated Forex broker, come in many forms. They range in fees, functionality, and efficiency as one would expect. Advance tip: if you are a complete beginner then try to use the demo trading account first and later on when you'll think that you're ready switch to the live account. 7. Futures This term is thrown around a lot when people talk about markets for Forex and stock alike. Forex futures are the date in which a deal is set, a contract for a specific time. The contracts are traded at set values and are intended to be finalized before that expiry date. Some people intentionally buy futures contracts with the sole purpose of selling them well before the expiry date because it is hard to know how the values will fluctuate. These speculators sell and attempt to profit before the end of these contracts are realized, or do so to prevent losses. Forex trading is a really interesting way that people have used as an alternate source of income, and in many cases, a replacement for their current employment. While Forex trading is not easy, and it is not for everyone, it can be something fun to get involved in when you do your research and treat it as a serious business, because it is. Before you start making any trades and using any of your money you want to learn as much as you can, and these are some common terms in Forex trading that any trader should know.
  18. 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.
  19. 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
  20. 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
  21. As recently as the early 1980s, brokers, and traders charted the movement of currency prices by hand with nothing but a legal pad and a pencil. In less than four decades, the charting industry has been revamped several times over, which has led to intricate, complex tables that traders decode today before executing currency trades. Charting software allows those in any market to see price moves, observe changes over various stretches of time, and combine this information to conduct market analysis and predictions. It’s an absolute necessity for carrying out intelligent trades; without it, trading currencies would be a lot more like gambling: highly dictated by chance. 1. NinjaTrader This award-winning trading platform offers forex traders FREE access to its advanced charting, strategy backtesting, and trade simulation. It’s well known for its sophisticated charting software, which has been enough to persuade many traders to switch from other trading platforms to NinjaTrader. If you are looking for a forex platform that offers both strong charts and the ability to make trades, this could be a great choice for you. NinjaTrader advanced forex charting capabilities offer comprehensive tools customizable for your particular focus. It offers dozens of indicators for gaps, news, trends, swings, volume, reversal, volatility, value area, Elliot wave, and more. Charts have multi-timeframe and multi-tool analysis with hundreds of add-ons available from third parties. While charting on NinjaTrader’s sleek interface can be incredibly informative, there is a learning curve for new traders. NinjaTrader does have a wide range of useful educational materials are available including daily training webinars designed to educate new users on the powerful tools available, hundreds of on-demand training videos, and an informative YouTube channel. The NinjaTrader User Guide offers copious details on how to use each chart feature. In terms of payment, NinjaTrader offers a range of options: NinjaTrader is always free to use for advanced charting and trade simulation. As an added bonus, you can get unlimited free real-time and historical forex data trials without a brokerage account! For live trading, you can use a free live trading license if opening an account through NinjaTrader Brokerage. You can also lease the program quarterly for $180, a half-year for $330 or one full year for $600. A Lifetime lease is also available for $999 which includes free software upgrades for life. NinjaTrader itself does not offer smartphones or tablet options, but there are several plug-ins on the market that you can set up within your devices to be notified of trade updates. For U.S. customers trading through NinjaTrader Brokerage, they can choose to trade through FP markets and Oanda. 2. TradingView Without a doubt, TradingView comes in at the number one spot on this list. It is a favorite among a multitude of traders, thanks to the fact that its free version offers more features than several paid packages on the market. For the forex market, in particular, TradingView offers a view of all currency pairs, cross rates on the most commonly traded pairs, as well as currency indices and an economic calendar for major macroeconomic events. It also serves as a trading community; Thousands of traders and analysts publish their ideas and forecasts as well as comments and assessments of trade patterns. This can be a great tool for a new trader or someone who wants to become more familiar with the intricacies of trading a certain currency pair. A lot of TradingView users also noted that its option to make its trade histories public – even if only to friends or family members – gave them more accountability and improved their decision-making tactics. TradingView is available on your desktop, tablet, and smartphone, all of which can be synced and saved in a cloud, which offers a seamless transition between devices. TradingView Fees Free: Use on one device, up to one saved chart layout, no customer support Pro: $9.95/month (use on one device, intraday time frames, up to five saved chart layouts, regular customer support, and more) Pro Plus: $19.95/month (sync up to two devices, intraday time frames, up to 10 saved chart layouts, fast-version customer support, and more) Premium: $39.95/month (SMS alerts, sync up to five devices, intraday time frames, unlimited saved chart layouts, priority customer support, and more) Please note that you’ll need to get set up on a trading platform in order to execute any actual trades, like Forex.com, Oanda, and others. 3. FinViz This platform is another winner among investors across the world and is utilized by millions of traders, whether their focus is forex, stocks or commodities. This web-based platform offers not just charts, but also heat maps, portfolio management tools and a host of news and blog links to keep you informed about what’s to come in the currency world and the international market at large. Heat maps are a favorite feature of FinViz, where traders can quickly analyze the health of certain currency pairs based on a color scheme from green (healthy) to red (unhealthy). There are also a host of free filters that can allow traders to narrow in on information geared towards their preferred currency pair(s). The downsides of the platform are that it is solely web-based, without mobile chart viewing. Traders also complained that its interface is somewhat dated. Lastly, while the free version offers lots of information, it also crowded with numerous pop-ups. In terms of pricing, charts on FinViz are free, however, they are not all in real time, and some are even delayed as much as 15 minutes — a big delay in the world of currency trading. An upgrade to FinViz Elite may be worth your money, as all features are given in real time, and the upgraded version also comes with access to advanced charting features like technical studies and performance tracking correlation charts comparing currency pairs or any commodity or stock. The Elite version also offers the ability to do backtests and will give you email notifications about important market events in real time. The price for an Elite subscription is $39.50/month, or $299.50/year. A general note on using charts: Trading experts advise not using more than two different applications, including your trading platform, when it comes to looking at charts. Dancing across too many platforms can lead to more confusion, and may make executing trades more stressful than need be. Final Thoughts on the Best Forex Charts Expect to use a good chunk of time reading trading charts, which is much like learning to read a new language. Once you’ve put in the work to be able to fluently interpret the information on the screen, you’ll be one step closer to executing lucrative trades. Many newbie traders ask which chart setup is the best of the best, and experienced traders say that such a panacea simply does not exist. Also read: Compare Now | Demo Trading Vs. Live Trading
  22. 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
  23. 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.
  24. Forex trading has always been a challenge to many. However, this year appears to be tougher as even this is affected by the pandemic. Add the fact the United States recently elected a new president. These factors play very important roles when it comes to trading in general. Last week, the news made everybody optimistic about the vaccine that could stop the pandemic. Because of vaccine optimism, the currency market started to liven up once again. However, it appears to be short-lived as a few countries have reported more virus cases. For just a few days, the positive movement of the currency market has hit the pause button. Now, even if this is the case, there are still people who are suddenly interested in trading, particularly in Forex. This could be because people now have more time to look into things. The health crisis has also somehow made people more concerned about their financial state that they are now finding ways to be financially stable. While Forex trading could be a great solution to secure your financial situation in the future, know that this can still be very risky. There are many things that you should know but it’s also important that you won’t commit these mistakes that led Forex traders into the zeroes. Don’t just jump into it You may have heard plenty of success stories in Forex trading and that’s good. There are success stories because Forex trading could work. However, don’t just jump into it. This is a serious matter that you need to educate yourself on. Having the money to trade doesn’t mean that you’re ready. Take advantage of the digital age and get all the resources that you can get. Read books, attend seminars or webinars, watch videos, read articles, and use demo accounts. And if you want to know certain comparisons between demo and live trading accounts then the following guide might help you, https://topasiafx.com/blog/demo-trading-vs-live-trading The more you know and the more practice you get, the better. Think of getting into Forex trading as getting into a war. You should never go to war without weapons and combat skills. Not looking for the right broker Once you start to educate yourself about the world of Forex exchange, you will get to know how important it is to trade with the right broker. Only deal with regulated Forex brokers. The last thing that you want is to lose your money because of a trading scam. Luckily for you, it’s so easy to look up the best Forex brokers out there. Just make sure that once you start with a broker, you don’t go all-in right away. Also, don’t get easily enticed by bonuses. Take it slow and build a relationship with it. Go for small trades first. Earning a lot of money shouldn’t be your only goal This is a mistake that many people have whenever they think about Forex trading. This is ultimately the goal but if you’re just starting, set a small goal first. Preferably for newbies, your first goal should be learning the ins and outs of Forex trading. Your main goal at the start and as you get used to the trading market is to stick to your trading plan. This leads us to the next mistake you should avoid. Not having a trading plan is not acceptable A trading plan is necessary no matter what. This guides you through your exchange journey. Part of educating yourself is learning how to make a solid trading plan. A trading plan should include the rules that you will set for yourself before you get into any trades and before you get out of a trade. The training plan should consist of the guidelines of what you should be looking for before entering a trade, the amount of money that you can risk in a trade, the specific market condition to look out for tor if you should get out of the trade to stop losses or to ensure profits, and the set time for the market to reach your target. It should be your goal to stick to your trading plan. All your trade and movements should be noted down. Make sure that you record everything so that you have something to review. It doesn’t matter whether a trade failed or succeeded. Either could help you in your future trades and could help you master the art of trading. You don’t control the market Once you’re used to Forex trading and you’ve already profited from this, you’ll learn that this can be a very exciting and thrilling activity. This is comparable to what gambling can make you feel and it could be addictive. During an all-time high, you may get the impression that you are already in control of the market. However, keep in mind that you never are and never will be. You can’t dictate the market no matter how good you are at trading. All you can do is to act on what the market is telling you. If the market price is where you want it to be, then that’s when you trade.

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