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Market Myths and Legends
Many areas of life have adages that govern them; ‘A fool and his money are easily parted’ tells the English that you need to be well informed to keep your hard earned cash, the Russians say ‘Put everything on the grey horse, it’ll bear anything’ meaning that you should go for what appears to be a dull choice, it’ll come good in the end above others and the then there’s the Arabic adage, ‘Save your white money for your black day’. It’s the same in securities trading and, by association, Forex trading too. Market myths and legends are the food and drink of traders and here we explain a few of the most common. Many of the market myths and legends offering warnings or recommendations for trading are based on experience but does experience always point accurately to the present and the future? Here we look at some of the adages and myths that seasoned traders tell the novices and we’ll leave it to you to decide which you’re going to take notice of or not!Price Action Trading: A Guide To Getting Rich
Not able to understand complicated trade setups? Confused with lagging indicators? If so, your search has finally come to an end – destination reached. In this article, I am going to present a very simple and easy trading strategy that may allow you to earn consistent profits in a stress environment; the strategy is known as “Price Action Trading.”Things To Consider When Choosing A Good Forex Broker
The foreign exchange market is the largest financial market in the world that accounts for a little over $4 billion in average volume of trades daily. If you are new to forex trading, it is indeed difficult to put your finger on who will be the best broker for you, one who will help you maximise your gains from your trading activities. With a huge number of forex brokers today, each of whom claim they can work wonders for you in the currency market, it’s easy to get overwhelmed and confused.Introduction to Forex Basics
The term Forex refers to the trading of currencies, and a great number of people are already doing this for earning an honest buck. The currencies of different countries get exchanged each day, enabling traders to book a profit in the process. This kind of trading primarily involves making guesses if the currency of a given country will become more valuable or lose its value compared to the currency of some other country.Using Forex Signals for a Forex Forecast for Tomorrow
Using Forex signals and math to generate a Forex forecast for tomorrow can take much guesswork and risk out of your trading. You can now find the most opportune opening and closing positions for your trading pair to almost 100% accuracy.Trading Psychology – The Importance of Willpower in Trading
How often have you found yourself dissatisfied by your own reactions when all was done and the dust settled? Most times, the problem is the lack of willpower to make the right choice.The Importance of Interest Rates (Part I)
The ability to use charts to gain a visual representation of price action is undoubtedly a useful tool, but only if used correctly. For many traders, the visualization takes too much focus away from the underlying markets and what drives them. Traders that do not fully understand the mechanics of the currency markets are exposing themselves to unnecessary risk, so here’s a quick primer on the most important fundamental concept in the industry – interest rates.Understanding Bollinger Bands, Parabolic SAR and Stoch
Bollinger bands indicator is one of the most famous and widely used tools among currency and stock traders. The indicator is particularly well-known in scalpers who keep their trades open for just a short period of time. Similarly, Stoch and Parabolic SAR are also reliable tools for confirmation of the trend signaled by Bollinger bands.Assess the Right Time to Invest
Read reviews, online trading forums, business newspapers and magazines on foreign exchange to deeply understand the underlying system of Foreign exchange trading. Use software to evaluate signals or a method developed by any foreign exchange expert. Make notes and find out the right trading system that works for you.Three Psychological Traits Of Successful Traders
One of the key factor in the success of any trader is psychology. Many beginner traders put together a winning strategy, yet fail to achieve long-term profitability as a result of poor implementation. There a number of key traits every successful trader has, and most unsuccessful traders lack, that cause enable consistent facilitate consistent strategy implementation, and in turn, long-term success.