All You Need To Know About Trading Currency Pair

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 Without Stoploss If you are new to forex and you do not want to use stoploss, congratulations because you are a normal person! It's really hard to accept stoploss at the start, because stoploss is a sureloss. It has been debated many times by different traders, whether to use stoploss or not. The only advantages of using a stoploss is it will prevent your account from further loss that could result to a margin call if not wiping out your whole account. But what if, when the stoploss was hit and the market started to go back to your direction? For sure, you will regret closing the position. To trade without using a stoploss, we should enter the lowest posible lot for trade, so that when the market goes back to its direction after giving too much volatility, our entered position are still there.  If you have these qualities you can trade without using a stoploss Not Greedy - entering a lowest possible lot will give few profits, but it will also give smal...

Every traders are looking for secrets to be successful in trading. Many of newbie traders are asking if the successful traders are really willing to share their secrets. In every field of successful person, they have a common denominator and that is Patience.  Why is it essential to be patient during our trading activity? Because the loosing traders does not want to wait for a good trades , they want to make money as much as they can, and what happened was the opposite, they loose their hard earned money.

With too much number of forex brokers now available online, we can choose a broker that could help us start on forex. We can even choose a broker that would be compatible with our trading style. There are few important points that we should consider on choosing a broker. Currency Pair - We should check if the currency pair we like to trade was available to our target broker especially when we are not trading the major currency pairs. While some have few currencies, others even have so many pairs.

Because of advertisements on the internet, I became curious what forex is all about. Immediately I open a demo account to try if the ads were true that I can increase my money. After doing some trades on forex, I was so happy because from $50,000 I have made it to $60,000 in one day. I felt really excited and at the same time I feel some regrets, I even ask myself, what would it be if that account was true? I cannot sleep overnight because I was thinking that forex can make me a millioner. 

It is widely known that in order for us to trade safely, we should have large capital to sustain the volatility in the market, Forex brokers are offering $50,000 virtual money on demo account, this is due to the fact that they know small account will easily blown by newbie traders who doesn't have idea on forex trading. Whereas if a trader use a bigger capital that will allow to trade 1 lot ($100,000) with a value of $1 per pip movement ( smallest decimal place on currency value), it will take many consecutive mistakes before he will blown the account.