Category: Financial

Prerequisites for Forex trading: Time, patience and practice Don’t come with money but a well practiced strategy Practice trading at least for a day in demo account of any of forex trader that you plan to start with Trading Forex: Setup the currency pair graph with all your strategy settings (like indicators, labels, time periods, etc,.) Once you find a suitable signal best matching your strategy, place an entry order Set the Stop Loss and Take Profit values as per your strategy Strictly stick to your strategy and don’t get altered with the prices movements Do not’s of Forex trading: […]

Many of the Forex starters wonder how the broker limits loss from higher leverages in case of negative trades. Here is a simple explanation about it: Say, you open an account with $100 USD and Say, you choose the leverage ratio as 1:100 which yields to $10,000 of tradable amount. (i.e., your actual money multiplied by the ratio of leverage, which in this example is $100*100= $10,000) and Say, you place a trade for $10,000 lot. At start of your trade your trade worth remains as $10,000 If trade moves in unfavorable direction, you will see your Net account balance […]

Below are some of the factors to be considered while choosing best platform for forex trading first and foremost is to have ability to test your strategies in a demo account (lifetime validity) as close to as real account free account opening balance (fxmicro offers a micro account with free $50 dollar balance) less swap and trade charges webtrader (for roaming users) and metatrader (for resident traders) interfaces rich options for interface customizations like color scheme, free hand lines, showing trading history, a full range of forex indicators ability to login to the account even on weekends quick live chat […]