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Transaction Methods in Forex
This article will explain a few of the transaction methods that are available to traders to enable them fund their Forex accounts and withdraw any profits that they may have made from their trading activity. The commonest methods for depositing to Forex accounts and withdrawing from them are as follows: a) Credit/debit cards b) Wire transfers c) E-wallets e.g. […]
Read Some MoreLeverage: How Does it Really Affect a Forex Account?
The attraction of forex and other financial derivative instruments is that a trader can use leverage, and the level of leverage that can be used in forex is higher than in the stock market. Leverage allows a trader to use a small amount of money to trade the markets, as the brokers will usually supply […]
Read Some MoreWhere to Open an ECN Account
ECN stands for Electronic Communication Network, and is a system of dealing in the forex market where brokers obtain prices from several liquidity providers. This price data (market data) is provided to traders without any interference, while forwarding all orders placed by buyers and sellers to the liquidity providers for execution. Under the ECN arrangement, […]
Read Some MoreHow To Approach Your Trading Day
Today, we will go through the processes that constitute the correct approach to a typical trading day for a forex trader. The most important component of a typical day in the trading business is to first understand the sentiment of the market. A trader who understands what the prevailing market sentiment or feeling is will […]
Read Some MoreThe Impact of Mergers and Acquisitions on Currencies
Mergers and acquisitions constitute another set of tools that can be employed by the forex trader to generate medium term profits. The big question is: how are mergers and acquisitions related to the stock market? What is the correlation between the two? The Correlation A strong equity market will see a significant amount of cash […]
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Tweezer Tops and Bottoms
In today’s article, we will discuss another set of candlestick patterns which are not very popular, but will yield profits for those traders who know how to use them. These are candlesticks known as Tweezers, and the two patterns to be discussed are the Tweezer top and Tweezer bottom. As the names imply, they signal […]
Read Some MoreTrading the Oil-USD Correlation
Crude oil is a very important component of the world economy and the financial markets. Priced in US dollars, many countries of the world earn their money from exporting large amounts of it found within their territories. Crude oil is so important because of all the derivative products obtained from it, used in several industries […]
Read Some MoreSetting Stop Loss and Take Profit Targets
There is a dilemma that seems to confound many retail traders where we see them making this mistake time and time again. This problem is the issue of setting stop loss and profit targets for their trades. Many traders simply set these targets arbitrarily without any principles guiding their actions. Picture this scenario: a trader […]
Read Some MoreTrading the Double Bottom Pattern
Today’s topic is on how to use another common chart pattern to pick up pips from the Forex market otherwise known as the DOUBLE BOTTOM. The double bottom is a bullish reversal pattern that signifies when prices have bottomed out and are ready for an upside reversal. It is like the currency pair is saying: […]
Read Some MorePAMM Forex Managed Accounts Service
PAMM stands for Percentage Allocation Money Management (PAMM). PAMM is the new way of managing several traders’ funds out of a single account, with the trading and management of the account done by a skilled trader. The whole essence of PAMM is: a) Assist those who do not have the time or know-how to trade […]
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