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Forex Trading: An Introduction to the Power of Market Correlations

Forex Trading: An Introduction to the Power of Market Correlations

To be an effective Forex trader, understanding the connection, or correlation, between financial markets, is essential. A correlation measures the relationship between two variables. A positive correlation implies two variables move similarly A negative correlation implies two variables move in opposite directions In addition to identifying high-probability trade setups in the Forex market, correlations can be used to manage...

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What it Takes to be a Forex Trader

What it Takes to be a Forex Trader

Trading in Forex markets reached an eye-popping $6.6 trillion per day in April 2019, up from $5.1 trillion three years earlier. Ranked as the largest financial market in the world, its mammoth size, easy accessibility, and high level of liquidity offer the opportunity to those willing to step out of their comfort zone and learn...

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Do You Want to Trade Forex Better? Here’s how

Do You Want to Trade Forex Better? Here’s how

The forex (short for foreign exchange) market is the world’s most traded financial market with a daily global trading volume of (US dollar) $6.6 trillion and a constant fluctuation in currencies means the forex market offers great opportunities to profit from these price movements. Here are 4 steps on how to trade forex: Step 1:...

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Trading Technical Supply and Demand the Right Way

Trading Technical Supply and Demand the Right Way

Patterns produced on candlestick (or bar) charts are created via underlying supply and demand. Demand represents buying Supply represents selling While several interpretations exist concerning structure, technical supply, and demand zones on charts can be defined as noticeable price moves to leave behind a fresh untouched base. Supply and Demand The law of supply and...

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Daily Affirmations That Can Help Your Forex Trading

Daily Affirmations That Can Help Your Forex Trading

The things you say to yourself is often what is done. Jim Carrey, a Canadian-American actor, is known for his faith in positive affirmations and thoughts. Before his success, Carrey boldly wrote himself a cheque for 10 million dollars for acting services rendered, dated 10 years in the future (Thanksgiving 1995), and kept it in...

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How to Manage Your Risks in CFD Trading?

How to Manage Your Risks in CFD Trading?

We all want to be right. Unfortunately, it’s not possible to be right all the time. That’s why risk management in the CFD market is crucial. What are CFDs? CFDs, or contracts for differences, are leveraged derivative products offering a cost-efficient way to trade the financial markets, including shares, foreign exchange, indices, commodities, and cryptocurrencies. Other...

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MT4 and MT5: Which Forex Trading Platform Is Better for You?

MT4 and MT5: Which Forex Trading Platform Is Better for You?

With electronic trading having established itself as a primary gateway to the financial markets, determining which trading platform to operate with is critical. The majority of top brokerages offer access to MetaTrader platforms, recognised across the board as the industry standard. MetaTrader 4 (MT4), developed by MetaQuotes Software in 2005, and MetaTrader 5 (MT5), established five years later. Which platform...

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Improve your Analysis: Understand the Basics of Price Action

Improve your Analysis: Understand the Basics of Price Action

The main challenge for new traders is information overload. Newer entrants often suffocate charts with technical indicators, seeking the holy grail of trading strategies. Price action, however, proposes a cleaner alternative. Some traders refer to this as ‘trading naked’. The Basics All financial markets generate data – data that can be observed through price charts. This movement...

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Importance of Latency when Trading Forex

Importance of Latency when Trading Forex

To make a successful trade, a number of variables come into play. Latency is a factor often overlooked. In electronic trading, latency, or network latency, remains a complex topic. Put simply, though, latency is a synonym for the delay. Latency influences the amount of time it takes a client’s order to be executed by the server. High...

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Improve your Analysis: Understand the Basics of Price Action

Improve your Analysis: Understand the Basics of Price Action

The main challenge for new traders is information overload. Newer entrants often suffocate charts with technical indicators, seeking the holy grail of trading strategies. Price action, however, proposes a cleaner alternative. Some traders refer to this as ‘trading naked’. The Basics All financial markets generate data – data that can be observed through price charts. This movement...