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Forex Blog & Articles

Forex Blog & Articles

This blog provides Informational & Educational material to help you grow your Forex Skills


BLOG FOREX INFORMATION & EDUCATIONAL ARTICLES - Ordered by Date Published
Wednesday, 08 July 2020 13:12

How to make money in the world of forex?

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How to make money in the world of forex? It is the dream of many people to have an income besides their regular job. It is not surprising then that many forex brokers sell these dreams. Look around any major forex broker advertisements and you will see how they market the dream of making money. Yet, still, for many others, the only idea that comes to mind in regard to making money in forex is by trading. Trading as you know is risky. You cannot make consistent money overnight. It takes years of practice. But what if we told you…
What are forex rollovers or overnight fees? If you have been using the MT4 trading platform, then chances are that you have come across something called overnight or rollover fees. At times, if you have kept a position open overnight, you would see that your broker charged you (debited or credited) you with an additional amount. These additional fees are nothing but rollovers. In basic terms, a forex rollover is the interest that is paid to or earned when you hold a currency pair or even a CFD position overnight. You cannot avoid rollovers and do not mistake this to…
Three types of trading principles that you should know There are many different trading systems that are available these days. Some seem to be profitable, while others are not. Traders often make the mistake of jumping from one trading system to another. This is because they hope that they will find the trading system that can make them money. This is also known as searching for the Holy grail among technical trading systems. But if you cut off the noise, you might notice something familiar. No matter what trading system you use, they tend to fall into one of the…
Introduction to different trading and charting software Ask a trader to name their forex trading software and chances are that you will hear about the Metatrader 4 trading platform. This is because the Metatrader 4 trading platform has become the go to trading software for retail traders. But there is a world of different forex trading and charting platforms that are available out there for you. Each of these platforms brings something unique. Therefore, while one might like a particular trading platform, it might not evoke the same enthusiasm from another trader. Still, having said that, it is good to…
Five steps to building your own forex trading system Many traders struggle when it comes to finding a forex trading system. Quite often, traders look to others and often download trading systems and strategies from forums. While these methods might work for the original trader, it might give the same results for someone else. This is because trading systems are unique and also require a certain mindset. Given that no two people can think the same way or exhibit the same psychological behaviors, it is not surprising to see why one trading system that works for one trader doesn’t work…
What are MT4 scripts and how do they work? When someone talks about the Metatrader 4 trading platform, quite often traders think about indicators and expert advisors. While traders can’t live without indicators or for that matter expert advisors, the little known sibling is the scripts. Scripts in MT4 often get ignored, but they are a powerful feature that allows you to do so many things. Most importantly MT4 scripts can be used to automate regular tasks which can be mundane and time consuming. If you are a professional trader, or just a beginner who is getting started in using…
MT4 Templates – A beginner’s guide to using templates with Metatrader 4 MT4 templates is a unique feature offered by the Metatrader 4 (and even Metatrader 5) trading platform. For a complete beginner, the template functionality might seem a bit confusing. But it is very useful, especially if you have custom set ups or require custom indicators. Using the templates feature, you can easily switch between different types of technical analysis as well. In this article, we walk you through the MT4 template features and how can you use this to your advantage. Getting started with using MT4 templates When…
What is open interest in futures and how can it help forex traders? Just as there are many ways to bell a cat, technical analysis of the forex markets also has different approaches. Some traders prefer to use fundamentals, while some focus purely on the technical analysis of the forex markets. Yet, some use other market information to be fully informed before making a trade. There are different ways to do this. One among the many is to look at closely related markets. In doing so, traders can get a feel of the general trends in the forex markets. One…
Why are open and close prices important for traders? When it comes to trading the financial markets, there is nothing more important than the price chart itself. From the price chart, all other types of indicators are derived. Traders very well know that there are four kind of prices: Opening price (the price at which a security opened during the start of the session) Closing price (the price at which a security closed during the end of the session) High price (the highest price reached during a trading session) Low price (the lowest price reached during a trading session) Each…
What is the meaning of Contango and Backwardation in Futures Markets? The futures markets are closely related to the spot markets. There are a number of futures contracts that are available; ranging from forex futures to metals futures and commodity futures. The futures markets tend to exhibit strong correlation to the underlying spot markets such as FX, Gold and Crude oil. Therefore, as traders, if you are especially trading the spot markets, it is important to understand what is happening in the futures markets as well. But in order to learn about this, we must first understand what are futures…
Wednesday, 25 March 2020 12:59

What are Median Lines (Andrews Pitchfork?)

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What are Median Lines (Andrews Pitchfork?) Median lines, also commonly known as Andrews Pitchfork is a drawing tool used in technical analysis of the financial markets. The median lines are used to draw a channel to the price action. It comprises of three lines, the two outer lines and the median line itself. By plotting the median line, day traders can identify dynamic support and resistance levels. In other words, the outer median lines tend to act as support and resistance levels. The median lines can show a possible reversal of the trend. You can apply the concepts of median…
What are currency swap lines and how do they work? Amid current pandemic crisis, one of the big news making rounds is the Fed's swap line arrangements. The Federal Reserve announced on 19th March at the FOMC meeting that it was broadening its swap lines to provide funding to countries. However, this is not the first time. In the past, the Federal Reserve has made use of its swap lines, especially during times of crisis. The Fed's FX swap lines were especially useful during the 2008 Lehman Brother's crisis. The Forex Swap line is basically a monetary policy tool that…
Thursday, 12 March 2020 07:54

How to day trade when the market panics?

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How to day trade when the market panics?   One of the things that traders should understand is that investors tend to shoot first and ask questions later. To put this into context, when investors are uncertain or fearful about something, they sell. This comes on the fact that investors are merely trying to protect the profits they made so far. However, the selling can mean different things; from partly unwinding the positions to perhaps even fully unwinding the positions. In some cases, investors can also hedge their exposure by trading derivatives such as options. There are a few things…
The interdependency between the financial markets If you think that trading forex is all about focusing on just one currency pair or an instrument, then wait until you learn about inter market dependency. In the financial markets, no asset trades in isolation. Almost all the times, you will be able to find a relation between the behavior of one asset or instrument to another. This is the fundamental basis of trading in the financial markets, regardless of whether you are trading forex, or equities or derivatives. Understanding how market sentiment works The reason behind this is because the market sentiment,…
Friday, 07 February 2020 06:55

What is an order book in trading?

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What is an order book in trading? When it comes to trading, for many traders their job almost ends after they have placed an order. But behind the scenes, there is a lot more going on than what meets the eye. Among the many processes, order book is one of the critical operational aspects for an electronic trading business. Within itself, understanding order book can be of some value for traders. Most importantly, there is a field in analysis known as order book analysis. This is where traders look at the order to identify trading opportunities. While order book trading…
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