Category: Forex tips
Understanding the Foreign Exchange Market
Foreign exchange (Forex or FX) is the exchange of one currency for another currency, and it usually happens in the foreign exchange market. The forex market is the most liquid globally as millions of trillions of dollars change hands worldwide. Transactions don’t happen in a centralized place, but rather, they go through an expansive network…
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5 Options Trading Mistakes to Avoid
As a trader, you know that when you trade options, you can profit whether stocks go down, up, or sideways. This sounds great but the catch here is that you can lose more money than what you have invested in a short period when trading options. Of course, the same thing will not happen when…
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The Best Forex Trading Strategies – Pros And Cons
A forex trading strategy can be defined as a usable trading system that a trader can use to inform their buy and sell position for currency pairs. Numerous strategies can be used for trading forex, including fundamental and technical analysis. The best strategy should allow you to analyze the market and execute trades confidently and…
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Strengths and Weaknesses of Technical Analysis
Technical analysis encompasses the evaluation of historical price movements in a bid to predict the future movements of prices. Successful forex trade relies on the analysis of the underlying factors influencing the trade. Technical analysis is essential. It enables the traders to remain alert in the event of a particular price trend. Also, it aids…
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5 Best Forex Brokers for 2021
All forex traders need online brokers to trade. Finding a trusted broker is the key to success in the currency markets. The first step of choosing a forex broker is identifying your specific needs concerning platform features, analysis tools, and research materials. You will also need to understand your trading strategies and plan before choosing…
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Factors That Influence the Movement of a Currency in Forex Trading
In the forex market, numerous factors can affect the movement of a currency. To become a leading trader, you need to use analysis to make informed trading choices for your currency pairs. This includes observing different factors that affect the valuation of different currencies. Here are factors that influence the movement of currencies in forex.…
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Disadvantages Of Technical Analysis In Forex
Technical analysis is the analysis of price movement in currency pairs. When trading forex, it is one of the most important analysis methods by traders. However, it also has some weaknesses that may lead to a loss for the trader. Here are some of the disadvantages of using technical analysis in forex trading. Sends Mixed…
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Why Traders Use Bollinger Bands in Forex Trading
Trading in the forex market is very competitive and complex. Intelligent traders can navigate the market and make enormous profits. These traders have learned the rules of the game thus know the appropriate time to execute the trade. Forex trading requires expertise, and most of the time, you will be required to engage brokers to…
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Classifications of Technical Indicators for Forex Trading
If you are a beginner in the forex trading world, you need the appropriate technical indicators to increase your chances of success. Remember, the indicators you choose will play a role in translating trends on averages and positions. Further, technical indicators dictate the form of opportunities that appear in your nighttime research.
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How To Trade Using Simple Moving Average
Moving average is a stock indicator used for statistical trends analysis. To achieve the said trends, you need to gather the trading activities such as movement of prices and trade volume. To achieve a constant price average, you need to calculate the moving average over a specific period. There are different types of moving average.…
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