7 Basic Tips to Minimize Forex Trading Risks

7 Basic Tips to Minimize Forex Trading Risks

Forex trading risks are very real; it's not a game. People looking to exchange currency simply as a means of excitement are in it for the wrong reasons. It is important to first understand the market, before you even entertain the thought of trading. Here are 7 basic tips to help get you started on the right foot ... 1. If you fail to plan, you plan to […] Read more »

The Principles of the Elliot Wave Indicator

The Pinciples of Elliot Wave Indicators

A way of trading in the foreign exchange market is to use the Elliot Wave Indicator. It allows the analysis of overall market activity for a certain period based on trends and market cycles; it is based on the characteristics of a 5-wave pattern. Especially if you are interested in observing price action, trading practices during highs and lows, and the general market behavior, the technical tool may […] Read more »

Why Long Term Trading Is Better for Your Success as a Trader

Why Long Term Trading Is Better for Your Success as a Trader

When most people think of currency trading, they picture it as a short-term activity where traders make money from day trades. But this gives the wrong impression of forex trading as a way to get rich quick, and ultimately, holding a position long-term may prove to be more profitable than a series of short-term trades. How long does a trade have to last to be considered long-term? There […] Read more »

Why a Career as a Forex Trader May Not Be for You

Why a Career as a Forex Trader May Not Be for You

One of the biggest misconceptions about trading forex is that it represents easy money. After all, what could be easier than making money from your computer while sitting at home in your pajamas? But being a currency trader is more complex than it seems, and there are many things you need to consider before you decide to quit your day job and go into forex trading full-time. • […] Read more »

Can Scalping Be a Profitable Forex Trading Strategy?

Can Scalping Be a Profitable Forex Trading Strategy?

Scalping is a popular trading strategy that is commonly used in stock trading, but is it also viable for forex? When you scalp, you hold a position for a short time and take your profit from small price movements. Scalpers may open and close several positions throughout the trading day or they may open a single position and exit it before the market closes. The trader generally uses […] Read more »

Is Trading Forex as a Full-Time Career Right for You?

Is Trading Forex as a Full-Time Career Right for You?

If you’ve ever dreamed of being your own boss and working on your own schedule, trading currencies full-time may be the right career choice for you. Here are some of the reasons why you may want to consider a career as a Forex trader: • The bar to entry is very low. You don’t need to have a lot of money in order to start trading forex, compared […] Read more »

Do I Need an Online Forex Trading Platform?

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A forex trading platform is a tool that one can choose to use in forex trading. Yes, it is not required, and in fact, some traders choose not to seek membership for one. But a growing number of traders, experts, and intermediate alike have found the same to be worth the extra expense. This article will discuss the basics. Membership Fee Online forex platforms can be utilized for […] Read more »