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Technical analysis is very much different from fundamental analysis in that a technical analyst assumes that the price shows all known information about a currency pair. For the most part, forex technical analysts study charts rather than economic indicators to find the best entry and exit prices. How Technical Analysis Works Technical analysts use indicators [...]
Arguably, the stop loss and take profit orders are the two most important order types for foreign exchange traders. The two orders are essentially orders on top of another order. The stop loss allows you to determine at what price you want to cut your losing trades and the take profit allows you to enter [...]
Now that we know what goes into a trade, we need to also know how to enter the trade to a broker. There are two main types of orders to buy currency, the first of which is a market order, the second is a limit order. Market Orders A market order is an order at [...]
Believe it or not, you can actually make money when a currency pair goes neither up nor down in price. Yes, that is right, you can make money for just holding a position in forex! Carry Trade Interest You remember from the third article of our comprehensive guide that when you buy or sell a [...]
In our example from the previous article, we actually alluded to a few things. The first, is that there were a few costs in our example trade of 1 lot of GBP/USD. The hidden cost is the “spread” or the commission the broker earns for completing our trade. How Forex Spreads Work Unlike stocks or [...]
So, you know how the forex market works, now its time to find out how investors make money with forex. The premise of the foreign exchange market is simple, to exchange one currency for another currency which you believe will go up in value. The basics are much like the stock market, so anyone with [...]
The foreign exchange market is the only market in the world that is open 24/7. Investors are able to place trades every single day of the week, however, most pairs will move very little on the weekends as very few investors stick around to trade. When Various Markets Open When one market closes, another one [...]
The foreign-exchange market, or forex, is the largest market in the world by volume. That is, more money exchanges hands on the foreign exchange than in any market in the world. Some $1.5 Trillion is exchanged daily, compared to $25 billion on the New York Stock Exchange. Across the world, the daily volume of stock [...]
Novativa Streamster is a free forex software that specially designed for Marketiva’s traders. This software enables you to learn how to trade forex on a Virtual Trading Desk, and then allows you a painless switch to the Live Trading Desk when you are experienced enough. With Novativa Streamster, you can also follow the latest forex [...]
NinjaTrader is a trading software that supports forex, futures and equities. Equipped with full system development, backtesting and automation features. You can trade through over 100 brokerages world wide. NinjaTrader is a free application for advanced charting, market analytics, system development and trade simulation. The useful reviews of NinjaTrader: NaifWonder @ EliteTrader writes “NinjaTrader going [...]