Without a clear understanding of different order types, success within the forex market is unlikely. Similar to a plumber using a specialised wrench to adjust to different pipe diameters, a trader must know which order to use to communicate efficiently with the broker. It’s surprising how often newer traders feel equipped to tackle the live … Continue reading Making Sense of Basic Order Types: A MUST For All Traders
Updated June 2020 The world’s most heavily traded currencies are the US dollar (USD), euro (EUR), Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD) and the Swiss franc (CHF)[1]. These are major currencies. The Forex market, however, trades in pairs – two currencies. Among other currency pairs, EUR/USD, GBP/USD and AUD/USD … Continue reading Major Currency Pairs: An Introduction
Updated May 2020 Regardless of how long you’ve traded a demo account, pulling the trigger in a live trading setting brings with it strong, raw, uninhibited emotion. Traders, particularly newer traders, enter live trading high on excitement. Emotional trading, however, often breeds mistakes – errors that may not only wipe out your account, but can … Continue reading Taking Your First Live Forex Trade: The Emotional Challenge
Updated August 2020 Did you know you don’t have to be right each time you interact with the market? You don’t even need to be correct 50% of the time to succeed. Once a trading system is mastered, one with an edge, trading should be no more than a repetitive chore – almost boring. Because … Continue reading Trading Expectancy – Thinking in Probabilities
