Forex Trading Platforms

Every now and again I look through Forex trading strategies which are getting discussed on various internet forums. Typically, most of the strategies are promoted by traders who are knew and don’t yet understand the flaws in what they are saying. For example, it always made me sad to see someone push a trading strategy with a lot of custom indicators whose formulae they don’t know let alone understand and end with the comment “works only on USDJPY and has given great returns for the last three months”. This is someone who is going to lose a lot or even all their account quite soon if they keep doing down that same path. Three months is no time at all over which to judge a trading strategy. If the strategy is robust, why would it only work with one pair such as the USD/JPY? One a few occasions though I can find a simple and potentially strong concept being presented and discussed for use throughout Forex, without any indicators or overly complex rules. These are likely to be better app...

The forex market remains one of the most viable options as you seek to diversify your financial portfolio. If you are considering heading in that direction, you need to make some hard choices on how to choose a forex broker that will maximize your financial gains and help you gain headway in the markets. This guide comprehensively covers pointers that will help you choose a trusted forex broker 2019: Location of the broker Forex trading is a global phenomenon. You can trade from anywhere in the world. However, there are some geographical advantages that come into play when you are considering your ideal forex broker . In some countries, the forex trade has not hit its stride. Part of this is due to the bureaucracy involved when dealing with factors such as licensing. Related Articles: You can choose to deal with a forex broker that is located in countries that have a strong background in forex and commodity trading. That way, you are sure that if there are irregularities, you ...

Learning how to read forex charts is one of the first steps you’ll need to take if you’re a beginner looking to get into trading. Here we explain how you can read the four main types of FX charts – candlestick, HLOC (bar), line and mountain charts – to help you get started. How to read different types of forex charts Forex traders tend to choose between four main types of chart – candlestick, HLOC, line and mountain – each of which is read in a different way. The type of chart you choose to use will come down to personal preference, though candlestick and HLOC charts are the most popular as they display much more information than line and mountain charts. Here we take a look at each type of chart in detail: Candlestick chart Candlestick charts display pricing information in long, thin bars that resemble candles. Each candlestick shows price movement over the period of time you selected. For example, if you have chosen a 15-minute timeframe, each candlestick on th...

What are candlesticks in forex? Forex candlesticks provide a range of information about currency price movements, helping to inform trading strategies Trading forex using candlestick charts is a useful skill to have and can be applied to all markets What could possibly be more important to a technical forex trader than price charts? Forex charts are defaulted with candlesticks which differ greatly from the more traditional bar chart and the more exotic renko charts . These forex candlestick charts help to inform an FX trader’s perception of price movements - and therefore shape opinions of trends, determine entries, and more. All currency traders should be knowledgeable of forex candlesticks and what they indicate. After learning how to analyze forex candlesticks, traders often find they can identify many different types of price action far more efficiently, compared to using other charts. The added advantage of forex candlestick analysis is that the same method applies to candl...

Learning how to read forex charts is one of the first steps you’ll need to take if you’re a beginner looking to get into trading. Here we explain how you can read the four main types of FX charts – candlestick, HLOC (bar), line and mountain charts – to help you get started. How to read different types of forex charts Forex traders tend to choose between four main types of chart – candlestick, HLOC, line and mountain – each of which is read in a different way. The type of chart you choose to use will come down to personal preference, though candlestick and HLOC charts are the most popular as they display much more information than line and mountain charts. Here we take a look at each type of chart in detail: Candlestick chart Candlestick charts display pricing information in long, thin bars that resemble candles. Each candlestick shows price movement over the period of time you selected. For example, if you have chosen a 15-minute timeframe, each candlestick on th...

The signal system for Forex trading has been advancing for a number of years. While all active Forex currency trading uses several forms of the signal just before putting a trade, the development of automated Forex trading signal system offers made Forex trading accessible for almost any person. The software for Forex signal system is programmed to track price movement associated with the market and whenever specific established characteristics have usually met a signal in order to buy or sell is produced. The particular trader can then choose to create a trade based on market conditions. These Foreign exchange signals can be displayed on the specific chart or even a visible, or even audible signal may be given. If you are considering a Forex program, then there are the few key factors that you want to think about. Automated versus Manual: A person has to choose whether or not you want an utterly manual signal system or an automatic system. Most of the people these days prefer an ...

Do You Have Sufficient Risk Capital? As a newcomer to the world of Forex trading, you should know right off that trading comes with some significant risks. If you are an investor not willing to take calculated risks, then Forex trading may not be the right business for you. Investing in Forex trading could see you lose your entire capital investment or in a worst case scenario you could lose more than your initial investment. That is why as a beginner to Forex, you need to get used to the term “Risk Capital”. Your risk capital are funds invested in Forex that you can survive without. In order words, losing the money won't significantly affect your standard of living and financial stability. So if you do not have adequate risk capital, you really should not venture into Forex trading. Now that you know where you stand with Forex trading from the get-go, you also need to know that you can lose all your risk capital if you engage in some risky activities during Forex trading. Th...