How to Be a Trader Lesson VIII – The Forex Trader Knowledge
Knowledge means different things to different people. For me anything that doesn’t have a practical application in life is worthless. Many people, and definitely many forex traders, think knowledge is filling their head with tons of information. The more you know the wiser you are. Well… it’s not.How to Be a Trader Lesson VII – The Power of Compound Interest
Albert Einstein said: “The most powerful force in the Universe is compound interest”. Many people underestimate the power of compound interest when making their investing decisions. Small gains tend to add up very quickly when you trade in a wise way. If you invest your money in a responsible disciplined manner; in no time you are going to have a small fortune.Forex Market Myths I – Speculators Are the Bad Guys
The other day I was reading Dan Brown’s book Angels & Demons; and realized something. We need bad guys for survival. We need someone to point our fingers at when things go wrong. In the markets arena this bad guys are called speculators.How to Be a Trader Lesson VI – Think Like an Economist
In the mid part of the year 2007 I was involved in a serious accident. Fifty percent of my body was burned in an explosion. To make a long story short when I was in the emergency room and my mother asked me how I was feeling; I answered: “Well… If I die, please make sure they don’t charge you full price for the cremation.”Trading the Star Trek Way
Last night I was watching Star Trek and realized that the, timeless, gems of wisdom contained in it could be used by anyone who wanted to become a better trader. I hope these guidelines would be useful for many…How to Be a Trader Lesson V – Do You Trust Your Broker?
Sometimes a forex trading company, even those with a high reputation, rip off their clients. Do you know if yours is trading against you? You need to know if your broker is changing quotes in an irregular way. This is because some firms will make money by running your stops out. This will cause a perfectly good strategy to fail.Moving Average
A moving average is an indicator that is often used in trading to display the average of the market price over a given period. This indicator is generally good at showing areas of possible support and resistance levels. These indicators are primarily used to determine the direction of the trend and smooth out any noise that is caused by price fluctuations.Reliable Advice For Making Money With Forex
When choosing a business strategy to pursue, you’ll have many options to choose from. The currency market is the biggest, most liquid financial market in the world. If you are considering making the plunge into the fast-paced world of Forex trading, see the advice given here.How to Get the Best Forex Trading Education
Learning to trade should not be a difficult task to accomplish. Here you have some guidelines of what to look for in a good system. Anyone with the right education can make a good living out of the Forex Market.How to Choose the Best Forex Prediction Software
Forex prediction software is that which works like a stock ticker but for the currency exchange. It automatically scours the market to look for reliable and high probability trading opportunities in the forex market for you to invest in. Once the program finds what it believes to be a high probability trading opportunity, it notifies you the investors so you can make the corresponding trading moves with all the information which you need to invest efficiently and confidently without emotions playing a role. You can also do all this without needing the time nor experience to devote towards the forex market beyond simply enacting a trade which has been recommended to you.Top Traded Currencies – Currency Trading Tips and Strategies
The top most traded pairs are the EUR/USD, GBP/USD and USD/JPY. EUR/USD is the most heavily traded currency pair in the market. As a currency trader what you must do is master trading one or two pairs. For example, you can master trading EUR/USD and GBP/USD. Each currency pair has got its own unique behavior. Mastering a currency pair will help you become familiar with the behavior of that pair at different times of the day as well as different times of the week.