All You Need To Know About Trading Currency Pair

Most of the newbie traders like to trade EURUSD because of the very low spread. But for me, I really love AUDUSD. I pick this currency pair by accident when I was new because my previous broker listed the currency pair in alphabetical order.  I tried a lot of currency pair to trade when I was new in Forex using a demo account and AUDUSD really caught my attention. It has a high spread, usually times 3 of EURUSD unless the forex broker has a fixed spread. I have been trading this pair for more than 3 years now and I really love it. It has a consistent pattern. If you look at the graph and history of this pair you'll know what I mean. A secret that nobody tells you. They said each currency pair have their own movements or behaviour and I believe that because after more than 3 years of trading this pair, I know when to buy or sell my position. What's your favorite pair to trade? If you are new to forex, I will suggest you to study AUDUSD and know its behaviour.

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 really b

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 highest poss

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 open a position and it turns to negative profit

Fundamental Forex Traders always look for high impact news to enter their trades in forex. This is because trading with the news gives a spike or sudden movement on currency pair for more than 30pips in just a matter of minutes after the news release.  The strategy   This can be as simple as waiting for the result of the release, and when the news is bullish we can target for 30pips and put the trailing stop to adjust the stoploss automatically, and when it is bearish we can sell the pair for 30pips target. Stoploss is important on news trading especially when our trade was not in the direction of major trend because most of the time, after the high impact news was released, the original direction of the market continue. Some of High Impact News are the following Interest rate decision Non Farm Payrolls Retail Sales Inflation Employment and Unemployment rate Industrial Production Business sentiment surveys Consumer confidence surveys Trade Balance Manufacturi

This is a strategy that allows us to predict the future price movements. It is a forex trading strategy that is almost 100% profitable when mastered. Because it is highly accurate, Stoploss is not really recommended. After several practice of this strategy, you can tell to yourself that you have found the holy grail.

There are too much trading strategies on the internet and one of the oldest is trading with the gap. Forex traders are looking for complicated strategies that they forget an old strategy that gives 90% successful chance for the past decade. Trading with the gap is a very easy strategy with a very simple rules. Because we know that we should not fight the market, and we should follow the trend, then we should follow the market reaction during the opening of forex after weekends. Let us know, what does the traders do when they see a gap? 

Trading without a use of any indicator was use to described a trading system that was based on a price action. Most often traders were just using the chart to look for an entry and exit points, Without any other indicators. There are some who are using trendlines or channels to identify if the trend was changing or not. Some traders can even identify where the trend was heading by simply looking at the chart. Its a skill acquired after so many practice.