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Forex Trading Articles

Best Forex Trading Charts – How to Analyze Forex Trading Charts

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Best Forex Trading Charts

One of the main things you need to know in order to succeed in currency trading is how to analyze Forex trading charts. Naturally, this is a topic which whole books are written about so this article can only be a partial look at this important and massive topic.

Nevertheless, I will try to give you a broad but useful rundown as to what you need to do to be able to read Forex charts and work with them for your own long term success.

At the top of each Forex chart you will see a few important details you need to know about: the currency pair in question and the timeframe of the chart. There are numerous currency pairs you can rade as you always buy one currnecy with another or sell one for another. Some of the more common currency pairs are EUR/USD, USD/JPY, and GPB/USD. There are dozens of pairs and you need to be aware which is the one the chart you’re looking at is dealing with.

On each chart you will see a representation of the prices of this currency pair. On some charts this is represented by simple lines, but most traders work with candlestick charts. To analyze Forex trading charts you need to be able to figure out which timeframe each candle signifies. These can range from as little as 5 minutes (or even less) to days and weeks. Best Forex Trading Charts

Each trading style uses different time frames. Scalpers can use 5 minute charts, day traders may use 15 minutes while end of the day traders use the daily charts. In all the charts, the candles are displayed the same depending on the price changes.

Each candle has a central body and possibly an upper and/or lower wick. One end of the body shows the starting price, the one that existed at the beginning of the timeframe. The other end shows the closing price. You can tell which is which by the color of the body. A red color signifies a lower closing price, so the upper edge of the body is the starting price. A green or blue color signifies a higher closing so the ends are reversed. The end of the upper wick signifies that highest price reached during this timeframe but not necessarily the closing time. The end of the lower wick shows the lowest price reaches within this timeframe.

Now that you know how to read candles, you can analyze Forex trading charts by following trends and patterns. To make it easier to do so, you can use indicators which follow the market and indicate patterns and trends within it. For instance, you can see a graph of a moving average, or RSI, to state two examples. There are dozens of indicators and each method uses different ones together. Best Forex Trading Charts

One of the main things you need to know in order to succeed in currency trading is how to analyze Forex trading charts. Naturally, this is a topic which whole books are written about so this article can only be a partial look at this important and massive topic.

Nevertheless, I will try to give you a broad but useful rundown as to what you need to do to be able to read Forex charts and work with them for your own long term success.

At the top of each Forex chart you will see a few important details you need to know about: the currency pair in question and the timeframe of the chart. There are numerous currency pairs you can rade as you always buy one currnecy with another or sell one for another. Some of the more common currency pairs are EUR/USD, USD/JPY, and GPB/USD. There are dozens of pairs and you need to be aware which is the one the chart you’re looking at is dealing with.

On each chart you will see a representation of the prices of this currency pair. On some charts this is represented by simple lines, but most traders work with candlestick charts. To analyze Forex trading charts you need to be able to figure out which timeframe each candle signifies. These can range from as little as 5 minutes (or even less) to days and weeks.

Each trading style uses different time frames. Scalpers can use 5 minute charts, day traders may use 15 minutes while end of the day traders use the daily charts. In all the charts, the candles are displayed the same depending on the price changes.

Each candle has a central body and possibly an upper and/or lower wick. One end of the body shows the starting price, the one that existed at the beginning of the timeframe. The other end shows the closing price. You can tell which is which by the color of the body. A red color signifies a lower closing price, so the upper edge of the body is the starting price. A green or blue color signifies a higher closing so the ends are reversed. The end of the upper wick signifies that highest price reached during this timeframe but not necessarily the closing time. The end of the lower wick shows the lowest price reaches within this timeframe.

Now that you know how to read candles, you can analyze Forex trading charts by following trends and patterns. To make it easier to do so, you can use indicators which follow the market and indicate patterns and trends within it. For instance, you can see a graph of a moving average, or RSI, to state two examples. There are dozens of indicators and each method uses different ones together.

General Forex

Forex Euro Dollar Rate – How to Trade on Currency Pairs

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Forex Euro Dollar Rate

Many traders think of the stock market when they hear about binary options. However, the Forex also offers retail traders great opportunities to make some high returns. Binary Forex options trading allows you to limit risk and see profit in little as one hour. Here we’ll discuss what Forex binary options are, how they are used and which strategies you can use to profit.

Let’s begin with a short explanation about the Forex before we get into binary Forex options trading. A global, decentralized over-the-counter financial market for the trading of currencies, the Forex, or Foreign Exchange Market, allows banks and other institutions to easily buy and sell foreign currencies. Financial centers around the world act as hubs for trading between a large variety of buyers and sellers day and night, except for weekends. For example, it enables an American company to import products from South Africa and pay in Rand even though its income is in dollars.

The exchange rates of currencies on the Forex fluctuate (floating currencies) according to the market. A currency’s value rises if the market demand for it surpasses the available supply and drops in the opposite scenario. This is where binary Forex options trading comes in – a new type of investment that allows the average person to be active on the Forex. Binary Forex options trading via an online platform offers you a tool to purchase Call and Put positions on chief currency pairs like the US Dollar against the Japanese Yen and the US Dollar against the Euro, among many others. Forex Euro Dollar Rate

Online Binary Forex options trading enables the middle or amateur investor the chance to trade on the Forex with smaller amounts of capital but with the same high yield returns as any other method. Plus, returns can be collected in just one hour. What you are doing with this form of trading is attempting to predict whether or not one currency in a pair will trend up or down against the other.

Let’s look at the Forex options trading available at online binary options trading platform anyoption.com – a leader and pioneer in the field. They offer trading on the following pairs: Forex Euro Dollar Rate

Australian Dollar (AUD)/US Dollar (USD)
Euro (EUR)/British Pound (GBP)
Euro (EUR)/Japanese Yen (JPY)
British Pound (GBP)/ Japanese Yen (JPY)
New Zealand Dollar (NZD)/US Dollar (USD)
Euro (EUR)/US Dollar (USD)
US Dollar (USD)/British Pound (GBP)
US Dollar (USD)/Japanese Yen (JPY)
US Dollar (USD)/ South African (RAND)
US Dollar (USD)/Canadian Dollar (CAD)
US Dollar (USD)/ Swiss Franc (CHF)

Each Forex options trading currency pair has an expiry level calculation. Let’s look at AUD/USD as an example. This currency pair, like most, has hourly, end of day, end of week and end of month expiry times. The expiry formula is the sum of the ASK value and the BID value, divided by two [(ASK+BID)/2]. The result is rounded up if the fifth decimal digit is 5 or higher and rounded down if the last decimal digit is 4 or lower. Forex Euro Dollar Rate

Forex Trading Articles

Best Forex Trading Rooms – Inside Forex Live Trading Rooms

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Best Forex Trading Rooms

When investors think about currency trading, many picture a day spent alone in front of a computer watching charts and trying to remember all the signals that indicate when they should buy or sell. With the fast pace of the Forex market, absorbing, analyzing, and acting on all this information is overwhelming even for experienced traders. Easing this burden is where the idea for Forex live trading rooms comes from.

In a Forex live trading room, a group of experienced Forex traders both educate and train other Forex traders while, at the same time, share their analysis and their trading calls with them. Although the name implies a physical location, in the internet age these trading rooms are typically virtual with interaction occurring via online chat or instant messaging applications. Best Forex Trading Rooms

Live trading rooms are particularly popular with new traders as it gives them an opportunity to develop their trading skills under the tutelage of experienced Forex traders. In addition to the investment and market knowledge and experience traders get through trading rooms, they also enforce the patience and discipline that are vital for success as a professional Forex trader.

While learning strategy from the pros is the biggest draw, Forex live trading rooms also allow investors to piggyback on the trades of the veterans that are teaching them. They’ll share when and why they make trades live as they happen and often include specific entry, stop and target levels to both educate about the market and help their students earn a little bit of their tuition back.

Depending on the size of the operation, live trading rooms are open from a few hours a day on weekdays to twenty-four hour a day seven days a week operations. Fees for membership are often several hundred dollars a month but, for novice Forex traders who learn best from hands on coaching and modeling, membership can save many hours of self-study and ease the learning curve substantially. Best Forex Trading Rooms

Forex Trading Articles

Insider Forex Secrets Plr – Insider Secrets to Becoming a World Class Forex Trade Pro the Sneaky Way

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Insider Forex Secrets Plr

Listen the Forex markets are crazy markets where fortunes are made and destroyed in mere moments. The sad fact is that many people lose their shirts trading Forex. So if you are going to enter this crazy fun profession then you want to learn how to trade like a Forex pro.

There are 3 insider secrets that the top pros use and profit from. Take these as golden and you will be certain to join that coveted top 10% of traders who actually profit from the currency markets.

Secret #1 – Forex Trading Software

Software – when it comes to software don’t skimp open source or shareware programs, your financial future is simply not worth the risk. The fact is that top traders use their software on a daily basis. It is their lifeline to the markets and to the data that allows them to make profitable trades on the Forex. So get the best and use it.

What to look for – The best programs have a simulator mode that allows you to “practice” with the live markets. This mode is great for testing theories or to build your chops with classical trading tools such as stochastics, Fibonacci sequences. They allow you to build experience with no financial risk. Some of the top products even have the ability to find and execute profitable trades for you automatically. Insider Forex Secrets Plr

Secret #2 – Kill The Emotions And Make Profitable Trades

The bottom line is that an emotional Forex trader is nothing more than a gambler. Letting your emotions get involved in your trading decisions is the #1 cause of training failure. You can get a good notion of how bad emotions hurt your trading by sitting and watching an emotional gambler at a casino. You can sit and watch as fear and greed guide their every decision and they end up throwing good money after bad.

The top traders in this industry make calculated logical decisions based off of the facts. They do not follow their gut, or let their fear of loosing their little profits force them out of a profitable trade too early. This is where your next secret comes in.

Secret #3 – The Right Trading Strategy

The fact is that the only way to overcome your emotions is to have a “mechanical” trading system. This is a strategy where one event automatically triggers another. For instance a 1-2-3-bottom formation when the MACD lines cross each other in the 80% range. Execute on breakout over the #2 high point.

That is a mechanical trading strategy. A particular chart pattern happens, two other indicators confirm it and a trade is executed at a specific price point. This kind of strategic planning goes a long way to taking your emotions out of your trading and creates a profitable trading career. Insider Forex Secrets Plr

General Forex

Best Forex Broker For Scalping – Forex Scalping Methods

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Best Forex Broker For Scalping

Scalping the Forex market is one of the fastest growing methods for trading Forex in the modern day world. In Forex scalping trading is performed over much shorter periods than other forms of trading and income is often generated even from relatively small fluctuations in a currencies price.

The main reason people trade via scalping is often that due to the quick nature of the method, profits can be built up fairly quickly. What’s more it also makes market movements far less likely to cause a large differential in the buy and sell prices.

Other methods of trading such as technical and fundamental analysis rely on analysing trends and predicting movements based on past performance or current news. Forex scalping offers a much quicker turn of events and traders using this method are simply looking for lots of small movements in currencies in any trading day.

Due to this difference in speed of trading, Forex scalping often means that traders run a much tighter ship as the risk is spread short time over a large number of currencies. In other methods of trading losses can often run a bit loose as the trader searches for that one trade that will return a big profit.

When scalping a trader will often only hold a currency for a matter of minutes before they resell at a profit. What is basically happening is that the Forex trader is playing with the spreads to bring in money where others fail to spot such a small market move. Best Forex Broker For Scalping

Almost all successful Forex scalpers base their strategy on absorbing masses of information about the market they are trading in. You will not find many new traders adopting scalping methods simply because of the level of knowledge and nerve you need to succeed.

It is also rare that a Forex scalper will hold their position overnight. Most will close all trades before finally turning their computer off. If they do not then the trade they leave running is not really following the Forex scalping method.

The scalping method is usually based on three factors: Best Forex Broker For Scalping

Liquidity – The more liquidity in a market then the more attractive it becomes to a Forex scalper as they can make more profitable trades in any given period.

Volatility – Only the most stable of markets are attractive to scalpers as a big movement is not what they are looking for. A stable market offers the chance to gain lots of small profits from many many trades

Time – A successful Forex scalper will not always begin trading at the start of a day. True, the longer they have to trade then the more they can make but patience is the key since it is pointless trying to scalp the Forex if market conditions are not right, for example in a period of large economic uncertainty.

As you can see, providing you have taken the time to learn as much as possible about market conditions then Forex scalping methods are not that difficult to implement. In many ways they are much more secure than other methods and this is why the method is becoming so popular. Best Forex Broker For Scalping