Economic Calendars Allow Forex Traders to Get the Winning Edge
The Forex market is all about being able to predict the movements of currency exchange rates, between the 2 currencies or currency pairs that you choose. The economic events across the world make the markets fluctuate every day. Seasoned traders are able to evaluate the economic events by using some analytical tools and graphs, and forecast the future currency movements.Know More About Forex
Foreign exchange or Forex is the world’s most traded market with an average turnover of more than US $4 trillion per day. It is the place where currencies are exchanged to facilitate foreign trade and business. For instance, if you are living in India and want to buy cheese from France, then you have to exchange Indian currency (Indian rupee, INR) for euros (EUR).How To Think Like A Professional Trader And Succeed In The Long Term
Here is how most amateur traders think when entering Forex trading: I will invest smartly in the right exchanges – Pounce on the right opportunities – Hit jackpot on a few trades and become a millionaire. Unfortunately, this is not how it works in the real world. If you look at the real rock-star traders in the market today, you will find that they have been working in the industry for more than a decade. They didn’t succeed overnight on the basis of a few genius moves…How to Beat the Majority of Forex Traders and Come Out on Top
They say only 10% of Forex traders make sustainable profits. The actual number may be even less. The problem for many in the Forex market is that there is simply too much competition.Opening a Forex Trading Account: Live Vs Demo Trading Account
After selecting the best Forex trader, you will need to open either a Live or Demo Forex trading account with them. The process is easy and involves choosing an account type, registering and activating the account. Most experts and professional Forex traders usually advise novice Forex traders to first open a demo account before moving on to live accounts.How To Choose A Good Forex Trading Platform!
A venture into Forex trade can be the turning point in one’s life for the very best financial achievements. The Forex trading system used by the broker however determines greatly how much a person is able to achieve from the foreign exchange trade. But what is a Forex trading platform? This is software which acts as a conduit between a trader and a broker by providing information such as charts, quotes and interface for entering orders the trader wants the broker to execute.Understanding the History and Concept Behind the Forex Market
In fact, the history of the Forex Market stems from the ability to stimulate trade and stabilize currency values, many countries adopted agreed to a fixed exchange rate based upon the US currency. This was also called the gold standard. This took place post World War II when the economy struggled to get back on its feet. Currently, the market runs 24 hours a day 5 days a week. During the 1990’s forex trading became immensely popular due to the creation of the Internet. This allowed people to exchange currencies easier.Online Forex Trading And Its Advantages
Forex trading is very popular and remains to be one of the most preferred ways of making money. This is especially considering that you can control and handle your trading online and from the comfort of your home. There are people who actually make a living from trading in forex and with very little challenges, it remains one of the best trading platforms you can settle for. There are major reasons why people prefer this kind of trading over trading in other commodities also available and possible.Litecoin Brokers: What Is Litecoin?
Litecoin is a decentralized online currency. It can be used to purchase internet services, such as website development or goods, such as jewellery or other related accessories.Forex Trading, The Solution to Kenya’s Unemployment Problem
With the unemployment rate soaring in Kenya, it’s high time Kenyans start looking for alternatives to the traditional setup of getting an education followed by a Job. Online Ventures such as Forex Trading offer great opportunities not just for Kenyans but people from all over.Five Major Forex Trading Mistakes That Traders Make
Forex trading is undoubtedly a great money-making platform. However, fact is even the most experienced traders tend to make mistakes that cost them in the long run. This samples a list of some of the greatest mistakes that forex traders commit and sheds lights on some of the best strategies that you can adopt to avoid such pitfalls.