By snoopstation on January 26, 2009
“Executing an order” is when your broker sells or buys a currency for you. Depending on your objectives, your trading system and the way you expect prices to go, you can place different kinds of orders with your broker. These are the most common types of orders that you can instruct your broker to make [...]
Posted in Develop Your Skill
By snoopstation on January 26, 2009
Trading on margin means that you can buy a lot of currency while only putting up a fraction of its value. You might hear people talking about “leverage trading” and some talking about “trading on margin”. These refer to the same thing in Forex trading, just in different terms. Margin trading is a great advantage [...]
Posted in Develop Your Skill
By snoopstation on January 26, 2009
Everything revolves around pips if you are a Forex trader. This strange sounding acronym will indeed become the central fulcrum of your life for a few months while you learn your way around the forex industry. “I made a 130 pip profit on my last trade.” “I am up 24 pips today.” That sounds good [...]
Posted in Develop Your Skill
By snoopstation on July 24, 2008
Forex trading is definitely not for everybody. There are many factors to take into account and the risk of losing money is always present. Some people just aren’t cut out for this. If you are thinking about become a Forex trader, you should keep reading. Successful Forex traders have different traits from other people. If [...]
Posted in Develop Your Skill
By snoopstation on July 17, 2008
Technical analysis is price movement study. You can track the history of price movement by using price charts and try to work out which way the prices are likely to go in the future. Online Forex brokers will give you a variety of different tools which you can use in technical analysis. Here are some [...]
Posted in Develop Your Skill
By snoopstation on July 10, 2008
If you’re new to the world of trading Forex, the quotes can be confusing to you. However, they’re actually pretty simple to read once you know how to approach them. Let’s take a look at an example of what a Forex rate quote looks like: EUR/USD = 1.2526 Can you tell what this means? This [...]
Posted in Develop Your Skill
By snoopstation on July 3, 2008
Do you think of anything when I say the phrase, “Japanese candlesticks?” In fact, this has a lot to do with trading in foreign exchange. Candle charts (also called “Japanese candlesticks”) were originally created in Japan several centuries ago so that rice could be traded. Today, thousands of traders use the same charting “system” to [...]
Posted in Develop Your Skill
By snoopstation on June 27, 2008
If you’ve heard of Forex trading (also known as foreign exchange trading), great. It’s one of the hottest topics around right now and its popularity is growing. What is it, though, and how can you as an average trader make money in it? Forex is also called “FX,” and both are short for “foreign exchange.” [...]
Posted in Develop Your Skill
By snoopstation on June 20, 2008
Those who participate in the Forex market have two basic schools of thought in regard to analysis. One is technical analysis and the other is fundamental analysis. Technical analysis believes that prices tend to follow patterns. Therefore, if one analyzes past price patterns, one can more easily predict what prices will be in the future. [...]
Posted in Develop Your Skill
By snoopstation on June 13, 2008
If you’ve been trading for a while, no doubt you know that as a smart trader, you have to be able to analyze the market and predict price movements. This is true whether you trade in commodities, stocks, bonds, currency or any other type of security. You can do analysis in two different ways. You [...]
Posted in Develop Your Skill
