“You have nothing to lose and our forex training can change your life”. This is how many fx training providers get amateurs into the forex trading game. The truth is that you have much to lose: money, time, belief in yourself, belief in the system and, eventually, repeated losses will let you lose your sense…
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What you need to know about forex trading
There are only about 6 things to know about anything, or any topic, to understand it. It is the same with forex. But I would add a 7th question because it has such a big influence on fx traders. More about that later. What is forex and forex trading? Forex is the collective name for…
What exactly is forex trading?
Trading in foreign exchange is the buying and selling of two currencies, or money denominations of two countries. Forex trading is based on the difference in the value of the two currencies (currency pair) and how they increase or decrease in value in relation to each other What are the elements of a foreign exchange…
Triangle Breakout Strategy
Patterns are valuable aids for any trader in identifying possible edges based on what chart patterns have a possibility of occurring. The trader should understand that certain chart patterns keep on occurring due to the fact that traders make decisions based on the same emotions repeatedly, and that these emotional decisions again, and again, create…
Trend and range in forex trading
What is a range in forex trading? A range is price movement within a range of obvious highs and lows (resistance and support), and it is depicted on a chart as an image of sideways price movement. The highs and lows of a range need not be parallel, so a range need not have the…
Should a trader act like Trump?
Pres Trump appears to be a person who reacts with stubbornness when he feels that he is prescribed to. He would probably describe it as “decisive”, “adamant” or “backbone”. Should you strive to be like him? Then you could easily be trumpificated*. In forex and other trading most people would advise you not to follow…
Learn to trade forex free
You don’t have to pay to learn the basic skills needed in forex trading, you can learn it free. This website is one of the online places where you can learn the basics of forex trading at no cost. But, you may hesitate because you were told or grew up with the belief that nothing…
How do I do a forex trade?
When novice traders ask this question, they usually get a course in forex trading. But what many new traders have difficulty with, is how to actually go about placing their first trade. Here are the steps in a trade: Find yourself a broker. Deposit the smallest amount the broker allows you to deposit. Study how…
Break-out strategies
There are just as many breakout strategies as there are patterns on fx charts, and as many versions of what a breakout is as there are pattern boundaries. But they all centre around the breaking of some form of support or resistance. A good definition for a beginner trader is “A breakout is the movement of…
Risk management in fx trading
Risk control is the most important aspect of forex trading Successful forex traders will tell you that risk control is the most important aspect of trading. It is the one technical tool that every trader has, that ensures that he will be able to trade again. Yet, it is often the last thing that newbie…