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A Guide to the Different Charts That Are Used For Analysis in Forex Trading

Traders in the foreign exchange market use different kinds of charts to see the values of currencies. With the help of the charts, the traders can analyze the FX market and make their decisions. The charts have 2 coordinates which are: 1.         The time on the horizontal axis 2.         Price and tick volume or just one of them on the vertical axis. The charts are made with the help of the following data: 1.         Open Price: It is the price that is created when the trading period is just beginning. 2.         Close Price: It is the price that is created when the trading period ends. 3.         High Price: The highest point that the price reaches during the trading period. 4.         Low Price: The lowest point that the price reaches during the trading period. Note : Trading period is defined as the time which helps in building the charts. It is also called Time Frame.   The Different Charts in Forex Trading Тick Chart In the tick chart, you can se
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Information about the Participants in the Forex Trade

Forex trade market is the fastest developing markets in the financial world. There are various participants taking part in forex trade, and if you are a trader, you need to know about all of the players in the game. This information can be very helpful for aspiring traders. It can give you a basic perspective of the channels through which you can invest in the market and protect yourself from losses. The Participants of the Foreign Exchange Market 4 operations are happening in the foreign exchange market: speculation, hedging, trading and regulating. The commercial and central banks are cover the greatest percentage of the forex market as its participants. The remaining area is covered by individual traders, big corporations doing foreign economic activities, brokers, dealing centers, and investment and hedge funds. Read more to know more about each participant. 1. The Commercial Banks The commercial banks take care of the major volume of trading. The commercial

Different Ways of Start Trading In a Foreign Exchange Market

Forex trading is getting popular day by day. Many people from different age groups are trying to grow their small investments into fortunes through it. It is easy to be a forex trader as it does not require a very big amount of investment and neither some kind qualification. There are also various channels through which you can start forex trading. This post will give you the basic information on some of the popularly used channels to enter the foreign exchange market. Introduction to the Forex Market Trading in the forex market is done by various individuals, businesses, and financial institutes. These participants trade currencies to earn some profit. With a large number of individual traders, central banks, banks, forex brokers, etc. the flow of income per day in the forex market is around $5 trillion. According to these figures, the foreign exchange market is bigger than the equity and futures markets combined. Further, we shall discuss the different channels of sta

Learn How to Lock Your Profits After You Won Big

Getting profits in trade in the foreign exchange market is not a very tough thing to do. Rather when you have 50/50 chances of winning or losing, in forex trading it is usually a favorable opportunity mostly. Though after gaining the profits it is a task to maintain it. You must have experienced that as soon as you got a big win, in the next trade you lost all of it again and sometimes you even lose more than what you were able to earn. It is a very frustrating thing and thus it is the time to end it for good. Go through this article and in just 3 steps you will be able to lock your earned profits and move ahead in your journey to be a successful trader. Step 1: Track Your Trading Records After winning trade, the first thing that any trader should do is to keep a record of their trading session. You may do it the old school way by using a paper and pen, or do it on your laptop on a spreadsheet, the choice is completely yours, but it is very important to develop this

Rising Above the Fear and Frustration and Being a Champion of Forex Market

An experienced forex trader would always suggest you to never mix your emotions with the trade, but to what extent is it possible? As a new trader, it can be difficult to control your emotions especially frustration and fear. If you have had a bad experience of losing your investment you will definitely be skeptical to try again and also will be frustrated. Though to be a successful trader, you have to be very neutral with both wins and losses. Read through this post to find out a few tips that will help you control your emotions and keep them aside from your business. How Does Fear Affect Our Trading And How To Overcome It? There are many traders in the market who set their targets for the day. They have set a limit of incurring losses and in case they are having an unlucky day, they will not exceed their limit. The next day they trade in order to overcome the loss of the previous day. This approach seems to be very wise but it is usually run by fear. This limits your

Hafizzat Rusli Penipu or IP Man of Forex Trading

Many of you may know both Hafizzat Rusli and Ip Man (Yip Man), but for those who do not know them, firstly they both are not from the same profession or even the era and are not even related. Though, if you see their characters under the skin, you might even think that they are close relatives. Hafizzat Rusli who was a boy from an average family had the dedication and will to change his dreams into reality. Today he is a champion of the forex trading, a lover and owner of sports cars, an extremely qualified mentor of forex trading , and yet a humble friend. A Brief On The Career Of Hafizzat Rusli Talking about Hafizzat's career, he started forex trading at the age of 17 and by the age of 19, he had earned his first million dollars. He had earned so well that he comfortably took his retirement when he was 23. While he was enjoying life, some of his friends requested him to guide them too with the trading. Being a humble friend he was ready to do so and turned out that a

5 Reasons for You to Invest In the Forex Market

In the past 2 decades, people have been much more informed and concerned about their financial situations. The reason for this can be that the world witnessed inflation at a much larger scale and it is having some kind of impact still. To get a secure financial position, many individuals are showing interest in Forex trading . In the past foreign exchange market was open to investors with strong funding, business institutes, MNCs, etc, but now it is open to even an average investor. This market has a lot of potential and scope for growth. To know why you too can and should try your hand in forex trading keeps reading. 1. Diversify Your Financial Portfolio If you are the person who has been investing in shares, equities, futures, and options, investing in the currency will not only help you get a better portfolio but also have more stabilized investment (if done wisely). You have to do the currency fluctuation analysis well and invest as per it. The benefit of this is th