Learn currency trading from your own
Many businesses today can be run from home. The idea is to put your skills to work and generate an income by
creating products or offering services from home. Doing business from home has become one of
the hallmarks of our time.
In that sense, forex is different because you are not producing something or providing a service. Instead, you
are playing the market (informed betting) with your spare money, with the aim of generating extra cash or
supplementing your finances from
currency differences. One of the first things that you should learn about currency trading from home is why forex
traders fail - see the paragraph below.
Affordable Trading Options
From derivative to forex market, there are quite a few financial markets
where an individual can trade. Which type of market you choose to play with, will depend on how
much money you can invest and some other factors. If you cannot spend too much, there are
affordable trading options where you can profit.
Beginner Forex Trades
Even if you have some experience or knowledge about foreign exchange markets,
it's always possible to learn new stuff. The overall approach should be that of right strategy,
analysis, and keeping trading diary. We expand on this and give you eight steps to help you
start in forex trading and manage the risks.
Days for Forex Market
Is the midweek the most profitable time for trading? If you believe some of
forex traders, Tuesday, Wednesday and Thursday are the best days in the forex market. There are
pros and cons to this claim. But it all comes down to the trader's strategy, market conditions and
forex trader's goals.
Binary Options Strategies
It's often misunderstood that options market is relatively simple. But there
are many diverse trading strategy choices when it comes to binary options. One of best ways to make
money on the options market is to embrace many available strategies and then use them at the
Donchian Channel Indicator
Created by the trader and technical analyst Richard
Donchian, the Donchian channel is particularly used with commodities trading. It's generally freely
available, on all the most respected platforms that come complete with a library
of easy to apply indicators. It can help identify forex currency pairs trends.
Forex Trading Is Not
Many forex traders fail to see the thin line between forex trading and
gambling, which leads to trading losses. There are some essential differences between the two and
when you understand this, you will become a good trader. We examine some of the ways that trading
differs from gambling.
Forex Market Explained
Several trillions of dollars are traded every day on forex markets, making
this the largest market in the world. Based on a bid-ask price system, the forex market is an
over-the-counter trade. This means that forex brokers and dealers negotiate directly their trades
via a certain network.
Forex Tips for Newbies
One of the first things to learn as a newcomer to forex trading is to
develope a "cool head" approach to foreign exchange, instead of an emotional one. Naturally you are
in it to make money. But don't let that being your main driving force. It's better to develop your
own trading strategies that will yield results in the long run.
Forex Trading as a Business - Part 1
With changing economies and opening new opportunities, going into business
and becoming self-employed seem like attractive possibilities for many. Indeed, in some cases, they
are. But there are also many pitfalls in having your own business. Forex trading, on the other
hand, could offer a cheaper business alternative.
Forex Trading as Business - Part 2
According to statistics, many startup business fail within the first five
years, putting a damper on many a startup entrepreneur. There are many reasons why this happens,
but we list four basic ones that lead to eventual failure. While it carries its own risks, forex
trading business can offer a less costly business option.
Forex Trading for Beginners
When you are a rookie trader, you are more prone to failures for many
reasons. Lack of experience leads you to follow fads and poor advice, resulting in losing trades.
Bu there are some basic techniques that are helpful to beginner traders, to increase the odds of
succeeding in forex trading.
The Elliott Wave Principle
In the 1930s, Ralph Nelson Elliott developed and proposed a way of
identifying all sorts of future movements in the forex market. Known as the Elliott Wave, his
principle was based on market history, potential extreme conditions, and crowd psychology. This
principle helps identify and interpret market movements.
Fundamental Analysis Software
As any experienced forex market trader knows, prior to entering a trade, one
needs to inspect and understand historical and current market activities. This is accomplished by
choosing different analysis tools. There are certain factors to consider when choosing fundamental
analysis software programs.
Head and Shoulders Pattern
Forex traders use a number of strategies to boost technical analysis.
Naturally, understanding chart patterns is essential to make predictions in the stock market. There
are many different trading charts to observe, one of which is head and shoulders pattern. Here are
some tips and insights into this pattern.
to Use Forex Calendar
Knowing what and when market moving news is coming is one of the fundamentals
for any successful trading. To be able to do this you need to do exhaustive analysis and sifting
through large volumes of financial data. There are some shortcuts to help you tackle this enormous
India Based Trading Benefits
Unless you are well educated in investments, your best bet to succeed in the
world of investing is to pair with a professional investment advisor. If you are investing on
another market, such as Indian market, it's best to find a local professional who can guide you in
the pros and cons of the local market.
Main Approaches to Forex Market
Successful forex traders can build a career and a good life using forex,
often without any fancy diplomas or college degrees. not to be carried away with the thought, to
achieve this takes a very serious approach to the market. There are two main approaches to forex
Moving Averages Trading Strategy
Forex traders use different analysis tools to better understand the market
and choose the appropriate spot to enter trading, that suits their particular trading style. A
common mistake is to populate the charts with too many indicators. Instead of this complicated
approach, it's better to choose fewer indicators.
Picking a Forex Robot Option
In amongst different tools that are available to make a profit on the forex
market, forex robots are definitely an option worthy of consideration. Although they have worked
efficiently for many traders, it's important to find those that work consistently. Follow our
guideline for choosing best forex robots for you.
Forex Trading Strategy
Forex trading is a great way to make money. But you can also lose money in
forex and not just by poor trading methods. It can be also lost through breaches in your personal
and financial information. There are some fundamental practices that can be implemented to ensure
the safety of your forex trading.
Scalping vs Position Trading
Scalping is a highly active and energetic style of day trading in
forex, where a trader buys and sells multiple times in each trading session. The idea is to achieve
many small gains. On the other hand, position trading involves investing in currencies for
medium-term gains, with long-term positions.
GBP/USD Currency Pair
As the most traded currency pair, the British pound and the US dollar amount
to a considerable level of daily volume in the currency trading markets. Additionally, London is
one of the major trading hubs of the global forex market, making this currency pair many beginner
Trading Outside Your Comfort Zone
Whether you like to start on a new venture "hot" or "cold", it's crucial that
you get informed before you venture into forex trading. Start with a practice account to learn how
it all works, then you can switch over to trade with (your) real money. Follow these pointers to
better learn how to trade properly.
Beginners to forex trading have a tendency to start trading just about any
currency pair that shows a movement. They'll take the trade because of the sudden price movement,
which may or may not prove successful. It's important to start better understanding currency
correlations in forex pairs, before you begin trading.
Zero Bound Interest Rate
As a trader, if you end up receiving the news that the interest rate you were
supposed to carry is lower or totally diminshed, what do you do? If you are in position to end up
paying less for your stocks, it seems advantageous. But is there a catch? Find out how zero-bound
interest rates affect the traders and economy.
What is forex?
Forex is short for foreign exchange. It's also sometime referred to as FX in short. Foreign exchange market
involves trading of currencies on an open market. Doing forex from home is an exciting idea, but it has to be done
very smartly and with a lot of knowledge about currencies, forex, trading, markets, etc.
Forex can be done from home or office, where you do the trading yourself or via forex broker. The risks with
this type of day trading is high, so you have to be well prepared for what's involved before you even od a paper
test run. Let alone put your money.
Forex trading isn't for a novice. You have to learn a great deal about currencies and trading, before you even
should consider to join the ranks of a novice trader. After all, forex is also a form of investing, which is not
for the faint-hearted.
Forex is a huge business
Every 3 years the Bank of International Settlements ( BIS) calculates the amount of forex trading done
internationally. According to its Triennial Survery of 2016, daily amount of forex trading was at
$5.1 trillion of dollars!
For comparison, this is about 25 times global Gross Domestic Product (GDP). Or using another way to compare
this, it's approximately 70 times all trade in goods and services.
In its 2019 Triennial Survey, BIS reported an increase of 30% in forex trading, now reaching $6.6 trillion
(Data courtesy Gilder's Daily Prophecy - Tomorrow's Technology
Why forex traders fail?
There are many reasons why most of forex traders will fail, or at least never reach any significant success. Perhaps
one of the first reasons is the lack of knowledge, let alone experience with trading currencies. Then there is
an overconfidence in one's skills as a would-be trader, confusing potential for earnings with what realistically
can be achieved.
Being the world's largest and most accessible, forex market attracts potential traders with its ease of access
and stories of success. In reality, very few traders ever achieve great, sustaining success. Financial world is a
complex entity, getting more so every year. It takes some hard work to learn the nitty-gritty of it, see how it
works, and then try to apply it yourself, building your real-world experience.
Remember, it's more important to make some money, however small, than to be "right", lest your ego gets in the
way of you making money. Money market is a fluid entity and you have to listen to it, rather than trying to bend it
the way you think it should be. It's like the nature - if you understand its laws and obey them, you will
succeed. If you go contra and try to bend it to your will, you always lose.
Forex trading articles
To assist you in your trading endeavour, we have brought you some basic guides, written by
professionals, that will reveal some of the insights from this fast-paced market. These are mostly forex trading
tips for beginners or newbies, as well as some intermediary trading strategies.
But don't rely on this information alone. Do your own work and educate yourself from proper sources, before
you attempt to test your knowledge and insights in the real world, backed up by your own money. It's easy to spend
your money and often very hard
to earn any.
|Trading in currencies is a lucrative market that involves trillions of dollars
traded annually worldwide
(Forex images by Svilen Milev)