||May 7, 2011
EUR/USD is the most liquid and the most popular currency pair among the forex traders. Trading currencies can be exciting and lucrative. Its a great market because of the way politics affect the trends. Elections, strikes, and sudden...
More Money Management Rules Explained
You should give utmost importance to proper money management in your trading as a currency trader. Many learn a few forex trading strategies and jump into live trading. Most traders don't give much time to money management. When they lose...
Never Trade Without A Stop Loss
The market goes in one direction. It has a correction. Then it continues back in its trend direction. It has another correction and so on. Even in sideways or choppy market, there are ups and down in the price action.
Start With a Practice Account (Part II)
Understand from the get go that any action you take on a trading platform is basically your responsibility. You may have meant to click Buy but instead you clicked Sell. No one knows for sure except you.
Stop Loss Orders
One important way to control your trading risk is by setting stop loss exits. A stop loss exit is a practical tool used in risk management. However, there is an art of developing the right stop loss exit strategy.
Stop Loss Rules
Don't pick an arbitrary place to put your stop loss. Position your stop loss in relation to the market activity. Many traders incorrectly choose a stop so their loss is the same amount each time they are stopped out.
Stop Loss Rules Explained
There is a relationship between the trade size and the stop loss. Always move the stops closer to your current position when adjusting your stops due to an increase in trade size. An increase in trade size is usually caused by adding on or...
Understanding Position Trading (Part II)
As a currency trader, you may be confident that the Euro is indicating overall strength while US Dollar is indicating overall weakness for the coming six months after performing the fundamental analysis on both currencies and economies.
What Are Market Cycles?
What are Market Cycles? Never heard about the market cycles! Not knowing the market cycle can affect your trading. Knowing the major market cycles is important for you and your trading system. Each market cycle requires a different approach...
What is Forex Margin Call?
Many new forex traders all of sudden receive a margin call. Maybe they did not educate themselves properly about forex trading and started trading. Have you ever received the dreaded forex margin call? Whatever, you must be very clear about...