All You Need To Know About Trading Currency Pair

Forex trading is really profitable if you are well equipped with knowledge and experience. Sad but true, most of the newbies lost their entire account in trading. Some in just a matter of minutes while some after several weeks. Do you know why? Because they are not knowledgeable and they are not experienced traders. Forex should not be of any kind of gambling. After we put our trade we should expect for a favorable return. If you are just starting to trade forex you need to trade slowly. Don't be greedy and start with small profit. Every day is a trading day. It will never stop. There's always time to buy and sell so stop rushing. If you're a new trader and you rush, you'll lose very fast without gaining a lot of experience.

Forex Hedging Strategy Before I knew that it was hedging, I was already using it. I use it to protect my account from further loss, but aside from protecting your account from additional loss, you can maximize your profits by using hedging strategy. What is Hedging? It is opening a buy and sell position at the same time with same lot volume. Sounds fantastic and great trading idea because wherever the market goes, up or down, you have a trading position that will be on profit, and when the position goes on the opposite you will profit again to the other position. But to many who uses hedging position at the first time, This result them to too much floating loss position, and when get out of control, they face margin call. When to use Hedging Strategy? Most of the traders doesn't know when to use the hedging properly, though they have a good idea because the currency pair are moving in harmonic waves and the price keep on coming back to a certain price, they would rea...

Everybody was looking for 100% accurate trade in forex trading however till this date there is no software or robot or any person that can enter a trade and will give him 100% accuracy automatically . The main reason was due to volatility in market. B ut believe it or not, you can make all your trade 100% accurate and profitable . Here's How.  When you enter the trade do not expect that you are always 100% right, that's the key secret. To be able to be successful in forex you have to potect your account in all times. Stoploss is not the best way to protect your account, but the right volume or lot size of trade that you will enter.  Trade with small lot size. How many times did you observe that your first entry of trade during the day was wrong? Did you observe the moment that when you enter buy, the market reverses the direction and is going to the side of seller? What would happen to your account if on your first trade during that day you give the h...

Trading in forex is not gambling, Before we enter a trade we must have a reason why we enter buy or sell for our trade. Don't trade without a reason if you don't want to think of a reason why the market always goes against you. Here is the list for the most important things that we should check daily before deciding to trade forex. Daily Chart - Looking on a daily chart will give us a hint what was happening on the currency pair we choose. Check if the pair was near support and resistance so we can trade accordingly, Buy at support and sell on resistance. Check also on the daily chart if there is a big chance of breakout or reversal of current trend so we will not be trapped and we will avoid big sudden loss.  Economic News Release - Everyday for 24 hours a day, News only vary on its impact from low, medium to high. Being updated to the news release schedule, we can avoid or take the chance to ride the waves and volatility of market. It is very important to know what kin...

Forex Trading Non Farm Payrolls The nonfarm payrolls released by the US Labor Department represents the number of people on the payrolls of all non-agricultural businesses. The monthly changes in nonfarm payrolls can be too much volatile. A high reading is seen as positive or bullish for the USD, while a low reading is seen as negative or bearish. It is schedule every first Friday of the month.

Forex Trading Strategy for $1 Today, Forex brokers are allowing the forex traders to deposit and open a real trading account for only One US Dollar. Sounds real crazy but it is really possible to trade forex with $1 (One US dollar) account, not only technically but it is also psychologically possible. The only requirement to trade $1 is Patience. Since the amount was very low, we cannot expect for high profit.  Forex Trading Strategy Plan for $1 US Dollar Account Open a real cents account - This will turn your $1 to $100 dollar equivalent value Trade 0.1 lot size one at a time - Do not open another position as long as the previous was not yet close. Opening 1 position at a time will allow for 1000pips movement.  Target realistic goal - Take profit can be set at 10pips a day, but if you enter a trade on an extremely over sold or over bought area, you can target for 50 to 100 pips a day. Plan the use of stoploss - If you ope...