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forex trader

Forex Trader, questions that you need to ask

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Forex trader

Does Your Forex Broker Make The Grade? Must Ask Questions For Any Forex Trader

When it comes to forex brokers, there are more than a few to choose from; however, they are not all created equal. When it comes down to your money, you need to be certain that the broker you use is able to meet your expectations. You have every right to ask questions, and to compare Forex brokers in order to choose the right one. You can check our brokers review here: brokers review

Why does size matter to a Forex trader?

When it comes to choosing the right broker for a Forex trader, size definitely manners. Since the forex market is a type of over-the-counter market, offering no type of centralized exchange, not everyone will receive access to the same prices or the quality of trade execution. Institutions that have the biggest trade volume and the best financials will have access to the better execution and prices. When you find a bigger broker, they will be able to pass on these advantages of their size, better execution and prices, to you.

Who will execute the orders for a Forex Trader?

Not all of the forex brokers will quote rates the same way, some of the options include:

  • A dealing desk: This means that the forex broker is creating the pricing and then executing the orders for the Forex trader.
  • No dealing desk: this will mean that multiple banks are streaming competing prices through the forex broker, so that your orders will be executed by the actual banks.

What type of spread is used for the Forex Trader?

There are a number of options a Forex trader needs to consider when it comes to the spread:

  • Fractional Pip Pricing: The majority of major currency pairs will be quoted to four decimal places, which means a pip will usually equal .0001, which is one basis point. Most brokers will round the price to the nearest pip, but others now offer fractional pip-pricing. This adds another decimal, which means spreads are typically accurate and tighter.
  • Scalping the Market: There are some traders that prefer a short term scalping strategy, which will involve placement of the orders in the spread. In order for this method to be profitable, the market maker has to lose, which is why some brokers do not allow this. This is a risky strategy.

When you evaluate the methods that are used by various forex brokers, you will be able to find one that meets your investing goals. Taking the time to consider the things here will allow a new forex trader to find a quality broker who will look out for your best interests. You can try these two demo accounts for free. Plus500 and Instaforex are one of the best brokers around at this moment.

<a href=”https://www.instaforex.com/” data-mce-href=”https://www.instaforex.com/”>InstaForex is a universal Forex portal for traders</a>

fundamental analysis on forex

Fundamental Analysis on Forex: How to use for trading forex

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Fundamental Analysis on Forex

Today in this article we are going to discuss what a fundamental analysis on forex looks like. You will gain insight and learn how to use the fundamental analysis on Forex the right way.

What does a fundamental analysis on Forex looks like?

A fundamental analysis on forex is a analysis that focus on the development of the economy of a country to trade currency more effectively. In a forex fundamental analysis you will get to know what the economy situation is of a country, what policies or plans of the government are, speeches of big politicians, economic events and plans & statement of central. All these factors can influence the value of a currency big time.

What are the key factors to look at the fundamental analysis on Forex?

#Key Factor 1

The first key factor in the fundamental analysis on forex is the interest rate. The interest rate is one of the key factor that has a lot of influence on the value of a currency pair. For example when the central bank of a certain country increase the interest rate the value of the currency of that country will go up. The reason for that is that foreign investor can get a higher return if they invest in that country assets or expand their business there. When a central bank is weakening the interest rate then the value of a currency will go down. One of the reason for that is the investor get lesser profit from his investment as the asset of the country goes down in value.

#Key Factor 2

The second key factor in the fundamental analysis on forex is the employment rate. If the unemployment rate is low it means that there are a lot of people who is working. But it also means that there are lesser people available for work. So if a company needs a employee, the company will need to offer a higher salary to beat the competition. As a result of this the salaries will increase and therefore the pricing for the goods will go up. When the prices of good are increasing it means that the inflation is increasing. If the inflation rate is too high the central bank will have to step in. The central bank will increase the interest rate to keep the inflation rate under control. As you may know when a central bank increase their interest rate the value of a currency will increase.

#Key Factor 3

The third key factor in the fundamental analysis on forex is the economic data of a country. There is a wide range of economic indicators that provides economic data of a country. The most important economic indicators are: the GDP growth, Consumer confidence index, manufacture index, service index, inflation rate index, price index , jobs growth index and the investor confidence index. The best way to get these data is to check the economic calendar of investing.com. When you look at the their economic calendar you will see on which date the economic data will be released from which country. And you will see what the forecast are from experts. You will also see the symbols of bulls. The more bulls there are the more impact that economic data will have on the markets. Usually when the economic data is way below the forecast of the experts, the markets will go extremely bearish. And when the economic data is way above the forecast of the experts, the markets will go extremely bullish.

#Key Factor 4

The fourth and the last important factor in the fundamental analysis on forex is the policies and statements from the central banks and important politicians. The policies and statements from the central banks and governments have a huge impact on the value of currencies. The reason for that is both parties are responsible for the economic health of their country. When the economy is going bad both the government and the central bank have too come up with new policies to get the economy back on his track. In the anticipation of central bank or government economic help the value of a currency will either go up in value or go down in value. As a trader you can make a lot of money in this situation.

For example:

GBP/USD

Let’s say the Federal Reserve (American central bank) is increasing his interest rate while the BoA (central bank of Britain) does nothing. In this scenario the USD will go up in value while the GBP will down in value. If you were expecting that the GBP was going bearish against the dollar, then the best way to make money was by going short on the GBP/USD. And if you were expecting that the USD was going up in the value then the best way to make money was to buy USD/GBP.

How to use the fundamental analysis on forex for trading

In my experience the best way to use fundamental analysis on forex trading is too used it with technical analysis as well. To increase the chance of trading successfully you must understand what the are causes that can cause a change in the price of a currency. In my eyes the fundamental analysis on forex provides me the best understanding of why a price change might happen. And the technical analysis provides me the insight if that news or expectation of a cause is already priced in the markets or not. In other words I use the fundamental analysis on forex for reasons to buy or sell and I use the technical analyses for which price I would buy or to sell.

 

forex exchange

Forex Exchange Rate: How to look at them as a trader

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Forex exchange rate

Forex Exchange Rate and Other Factors to Consider When Trying to Make a Successful Trade

 The Forex market is filled with opportunities to make money. For most new traders, finding a way to read the Forex exchange rate and other variables is important in making good trades. There are so many different advantages to trading Forex and learning how to use the tools available to you is a vital part of success. One of the important tools to use is the technical analysis. Technical analysis tools are often used by professional traders to determine what the current trend is and to predict what the movement of the currency pair will be. How big is the chance that the currency pair go up or go down in value. If you want to know what technical analysis and how you can use them then check out this page: Technical Analysis. There are still some other things that a person will have to consider when trying to have a successful Forex trading experience.

Looking at the Forex Exchange Rate to Determine Risk

One of the first things to consider when trying to make a successful trade is the risk shown to you by the Forex exchange rate. Knowing the level of risk involved in a trade will allow a person to assess whether or not they are comfortable with it. Jumping into a trade without getting the right information can be very dangerous and may lead to a person not getting the results they are after.

Read the News

Another thing that a person will need to do besides checking the Forex exchange rate is to keep up on the developments in the world. If there is a particularly tumultuous situation going on in a particular country, then chances are that you will need to avoid investing in their currency. Usually, the Forex exchange rate is indicative of what is going on within a particular part of the world. The more information a person is able to get involving what is going on in the financial markets of the world, the easier it will be for them to make the right investments.

Starting Small is Wise

Among the biggest mistakes that most people will make when trying to be successful in the Forex market is putting too much money in early on. It will take some time for a person to get good enough at Forex trades to put in a large sum of money. Taking the time to get familiar with how the market works and where you can make money can be very helpful. Getting a bit of professional guidance is a great way for a person to reduce the mistakes that they may make early on. The best way for getting professional guidance is by interacting with traders on forums or read their posts on forums.

Working on developing a strategy is important and is worth the time invested. The last thing that any new Forex investor needs to do is to jump in and start making wild trades due to the damage it can do. Reading up on the Forex market and getting information on how to trade like a pro will increase the success a person has substantially.

UK Forex

Uk Forex: How to make trades succesfully in British currency pairs

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UK Forex

How Can a Person Profit From UK Forex Currency Pairs

For most people, the stock market is an intimidating place that they are unfamiliar with. In order to secure one’s financial future, the right investments will have to be made. One of the most pain free ways to put your money into the market and see instant results is by trading CFDs or binary options. A CFD contract is like a option contract. The big diffrence between with CFDs and options is that CFD doesn’t have expirate date and you can use leverage with CFDs. If you want to know more about CFDs then go to this page: CFDs. On that page you will get to know what CFDs are and there is course on how to trade succesfully by using CFDs. A binary option on the other hand is basically betting on whether a stock, commodity or currency will rise or fall in a certain amount of time. Among the most commonly traded items in this market are called currency pairs. Currency pairs group two different currencies from different parts of the world and the traded has to decide whether they will rise or fall. The following is some information on how you can make a good profit from using volatile currency pairs.

Understanding What Volatility Means in the UK Forex Market

Usually, a person has heard the term volatility a lot when it concerns the stocks and bonds market, but are not sure exactly what it means. The term volatility usually relates to the unpredictability factor of a certain market. While most people view the volatility factor as a negative, it can be beneficial in the right situations. In some cases, a person can make a handsome profit when dealing with UK Forex market volatility.

How Can Trading UK Forex Pairs Benefit You?

Now that you understand what volatility is, you are ready to learn how it can be beneficial. The volatility of UK Forex currency pairs means that they will move up and down a lot. The risk you take when betting on these currencies is rewarded by the bigger payouts that usually exist. So simply put, the more you risk when choosing your binary options, the more money you will receive when you are right.

In order to get a handle on which UK Forex currency pairs to put your money in, you will have to find the right tools to measure volatility. One of the biggest and most widely tools out there to measure this type of volatility is Bollinger Bands. By learning how to use the tools at your disposal, you will be able to eliminate some of the risk involved with the currency pairs.

Practice Makes Perfect When Trading UK Forex

At some brokers like Plus500 and Markets.com you can open a demo account for an unlimited time. So you can practise as much as you want.

Once you get into the habit of choosing volatile currency pairs, you will be able to get better at choosing the best ones. The movements of a volatile currency pair is usually very drastic whether going up or down. The more you are able to watch how the different pairs perform, the easier you will find it to pick the best ones to put your money into.

The time and effort that goes into doing research on the UK Forex currency pairs at your disposal will be more than worth it. Getting a few different consultations scheduled is the only way that a person can find out what a professional is able to offer them in regards to Forex advice.

 

 

forex exchange

Tips on Becoming Successful on the Forex Exchange Market

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Forex exchange

There are so many different investments out there and selecting the right one will not be easy. Taking the time to research the markets out there will make it much easier for a person to get a handle on what is the best fit for their needs. The Forex Exchange is one of the most used and lucrative types of investing markets out there. Just like any other type of investment, it will take some time for an investor to understand the complexity of foreign currencies and how they can benefit them. The following are some of the things that a person can do to become a successful investment on the Forex Exchange market.

Setting Goals is Important in Trading on the Forex Exchange Successfully

The first thing that a person will have to consider when trying to be successful on the Forex Exchange is to set goals. The more you are able to find out about the goals that you have, the easier it will be to develop the right trading strategy. You can read more about setting up goals here: setting up financial goals. A new investor has to make sure that their trading style is indicative of their overall personality. As time goes by, it will become much easier for a person to get the trades they need done the right way.

<a href="https://www.instaforex.com/">InstaForex portal</a>

Selecting a Good Broker to Help with Trades on the Forex Exchange

The next thing that a person will have to do when trying to become successful on the Forex Exchange market is to find a broker that meet their needs. On our compare the brokers page you will a list of reviews that we have done on brokers. Each broker has their cons and pro’s. Read those reviews and find out which one will fit you best. You can read the brokers review here: Brokers reviews.

Consistency is Key in Trading on the Forex Exchange

When developing a trading strategy for Forex, a person needs to remember to be consistent. Being too loose with your commitments and trading practices can lead to a number of issues in the future. The last thing that anyone wants is to have their investment success compromised due to lax standards. Getting some guidance from the professionals will make this type of commitment much easier and successful. Or you can just simple following our guide: How to trade like a Pro in 5 steps.

Investing the time needed to get good at trading Forex will be worth it in the end. Because when you started to be good in trading, you can have the lifestyle that you have ever wanted. The key to achieve this succes is simple. Learn the knowledge that we provide on this website, get involve with traders at forums, check out the video’s about live trading that been posted here everyday, follow the trading journal of Cassie and most importantly is to put your questions, your thoughts about the markets on our forum. Because this way our community can share their thoughts of what they think of your trading idea. With their feedback you will start trading succesfully more often.

<a href="https://www.instaforex.com/">Forex broker</a>

forex trading

Forex trading: How to minimize the chance of losing

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Forex trading: How to minimize the chance of losing money

One of the first questions people have regarding the trading of foreign currencies is what is forex trading? For years now, people have made money picking rising and falling foreign currencies. Finding out the answer to what is forex trading can be easy with the right attitude. Making strides to improve one’s financial situation should be one of the top priorities for a person. There are a number of ways a person can be successful in the world of Forex trading. After answering the question what is forex trading, a professional will be able to start helping a person get their ducks in a row to have success in this medium. When trying to make money in the world of Forex trading, here are some of the things a person will have to consider.

The Right knowledge explains what forex trading is really about.

One of the best ways for a person to get the success they are after is by finding the right knowledge to assist them. A good information website such as www.101trading.co.uk/beginners/forex will be able to explain what is forex trading in a way that a person can understand. Before you start forex trading make sure you understand the basics of forex trading. Know how you can read chart and understand that some news can have a impact.

Learn What is Forex Trading By Starting a Practice Account

Another very important thing that a person will need to do before jumping in to the world of Forex trading is to start with a practice account. Having this type of practice account will help a person to get a feel for how the Forex market works and how they can use it to their advantage. There are a variety of brokers out there that will allow a person to get the practice they need before real money investing comes into play.

Protect Your Trading Account

When creating a real money Forex account, a person needs to make sure they take steps to keep it fully protected. You need to make sure you have a username and password combo that is hard to figure out. Be sure to speak with the professionals to see which sites are the most secure in regards to trading Forex. Most of the professionals will have the information that a new user needs to get a secure account to start trading. The more a person can find out about what is forex trading, the faster they will be able to start making money with this type of investing. Neglecting to get professional advice before jumping into the world of Forex trading will usually lead to a variety of problems for a new trader.

Here is a little tip in finding professionals that can help you for free. Go to forums or google for trading forums and start a thread ” New to forex.” And put out your questions. A lot of traders are helping beginners. This is the best way and the most effective way to get professionals to help you. Investing the effort into finding this information will more than pay off. If you have any questions, feel free to post it on www.101trading.co.uk/forums and let our traders community help you.

how to trade forex

How to trade forex: benefits of learning

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How to trade Forex

Why a Person Needs to Learn How to Trade Forex

 For most people, finding a way to increase the amount of money that they have is a top priority. There are so many opportunities out there in the world of investments, which means a person will have to do a bit of research to find the right ones. One of the most popular and lucrative types of training out there is Forex. This type of trading revolves around the futures of foreign currencies. Learning how to trade forex can be very beneficial for a person and can allow them to make the extra money they are looking for. Here are some of the reasons why a person needs to learn how to trade forex.

 

Learning How to Trade Forex Will Allow a Person to Diversify

 One of the biggest things that a person will have to do in order to keep their investments strong is to diversify. In the world of Forex, there are a number of currencies to choose from. Taking the time to figure out which of the currencies is performing on a consistent basis can help a person greatly when it comes time to pick the right ones. By consulting with a professional, a person can learn how to trade forex in no time at all.

Forex Trading Provides the Liquidity an Investor Needs

When trading Forex, a person will be able to have the liquidity that they are after. Most new investors are weary of investments that require them to keep their money in for a long time without seeing returns on it. By taking up Forex trading, a person will be able to cash out anytime that they want to. Be sure to speak with the professionals to get an idea of where you can best invest the money you have.

A Very Transparent System

Another advantage that comes along with learning how to trade forex is that the system in place is very transparent. Most new investors want to be able to check in on their money on a regular basis. The market that is set up for trading Forex is heavily regulated and offers investors a great deal of transparency. A person will not have to worry about not being able to see where their money is going and what kind of gains they are making.

 

An Accessible Market

For most new investors, the push to learn how to trade forex has a lot to do with the accessibility that this market has. The Forex market is open 24 hours a day, which means a person will be able to make a trade any time they see fit. Be sure to talk things over with a professional to figure out what is the best course of action regarding how to invest in this market.

By testing and learning on how to trade forex, a person will be able to have much more success in the long term. Be sure to take the time to and study the information that is available on this website. Check for example this section technical analysis. Learn what technical analysis is and how you can use it to identify trading opportunities. If you are new to trading forex then you should not miss this section: Forex trading

 

British Pound

British Pound: The biggest swing ever

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British Pound

 

 What made my trade profitable in the British Pound?

I started jotting down my answers and realized that simple things really matter. A good day to start a Monday with a hot coffee, news paper ready, and Television on at my favourite “Financial News Channel” Bloomberg. Alone moment in my room seeing my computer ready, charts showing, and my hero’s picture George Soros as my desktop’s background with a quote:

 

“If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring” – George Soros (2006) The Winning Investment Habits of Warren Buffet and George Soros

 

Ever since I learned about trading and my hero, George Soros, I was hooked up with it ever since, especially the day when Speculators Broke the Pound in September 16, 1992 and then called Black Wednesday. And from there I started replicating and reading books, trading strategies every day and practice on a demo account. I know that trading in the foreign exchange market is highly risky, highly speculative, and highly volatile so I did manage to practice first my patience and to know the feel of the market. And one thing I’ve proven right is that George Soros was correct. It’s pretty fun and awesome! That’s why I wasn’t making money at that time.

 

But because of my passion for trading and the high interest in the foreign exchange market grew, I decided to open my account and try all the things I’ve learned from the books, videos, and apply the strategies I practice. But I wasn’t making money, I was losing. It is different when money is involved, your hard earned cash from your pay check or savings. It crushes my spirit to the floor whenever I see my stop loss ticked, or lose heavily whenever I didn’t follow my trading plan. Then a friend of mine who is trading stocks told me, that in trading you must pick your poison. Watch it like a sports fan, dream of it like your favourite car, and love it solely like your wife. By the way, I’m married now and she loves the idea that her husband is a Trader.

 

Anyway, I decided to choose the currency, what my hero broke in the days, and that’s the British  Pound or GBP/USD. The British Pound, Cable, or Quid, is one of the most liquid foreign exchange currency. With a narrow spread it signifies that the currency is highly traded. Nevertheless, the liquidity of the pair is a great choice for a novice currency trader.

 

  1. British Pound held the Reserve Currency for more than a century

Prior to the US Dollar becoming the world’s reserve currency, it was the Pound being used in trade of goods and services. Everything that the US Dollar is now it is the British Pound before, although it is not in its glory days now, it remains an important currency and a popular trading currency for traders due to its narrow spread, where the costs of trading is not high, plus your broker makes little money on this transaction.

 

  1. The United Kingdom’s Economy

In the 18th century, the United Kingdom was the world’s most powerful nation of its time and its economy is at its peak. The Kingdom dominated international trade, and the British Pound served as the world’s unofficial reserve currency. United Kingdom may have lost its past stature but has emerged as a major centre for global finance now. Its financial sector has become a very important part of the country’s overall economy where the direction and strength of this sector plays a determining role of its economic well being.

 

  1. The Currency that remains outside of the Eurozone

Although the United Kingdom is a member of the European Union, where it enjoys free trade, limited to non-existent trade barriers, and free flow of capital, the country remains outside the European Monetary Union, and maintains its own currency. Which makes it noticeably strong compared to the Euro. With a higher volatility movement compared to the Euro, the British Pound often trade within a wider range through the day with swings ranging 100-150 pips. Although, it is not unusual to see the British Pound move by 20 pips during Tokyo sessions, but in a very volatile environment one could expect massive swings. Hence, the British Pound can be seen as most volatile through London and New York sessions.

 

To trade profitably one must consider all the things that he or she doesn’t know. And lessons worth sharing are the lessons of experiences, findings, and losses. As they say Traders are not afraid to take losses, to talk about losses because to rebound from losses are our defining moments.

 

What about you? What makes your trade profitable?

 

 

 

Step 5: How to recognise buying signals

How to trade forex successfully

Ever wanted to make money whenever and wherever you want? Start trading now and receive a 25 dollar welcome bonus

You might wonder how you can trade Forex successfully. After reading this article you will know how to trade forex and make money on it. So make sure you study this article well. We will first explain you the forex basic terminology , guide you through to open an CFD account at a broker and give you tips on choosing currencies pair to trade in profitable.

How to trade Forex lesson 1: Choose a good broker that fits your needs.

On our website you can read our reviews of different broker at the section compare brokers. In this article we are going to use the Plus500 software. Plus500 is one of the best CFD trading platform at the moment. As a new trader , you will receive a 20 Pound or 25 Euro welcome bonus when you have open an account. One of the best thing at Plus500 is that you have a unlimited time for a demo account. This way you can learn and practise on how to trade forex with CFD’s.

Open a Plus500 account by clicking on this link.

Video 1: How to open a Plus500 account and receive my welcome bonus

 

 

Video 2 : How to trade in CFD with Plus500

 

* When you click on sell it means that you are going short and when you click on buy you are going long.

*At Plus500 you have a leverage of 1:200. Which means you can make alot of money with a small investment.

How to trade forex : understand the forex basic terminology

Before you start in trading forex , you need to understand the forex basic terminology first.

  1. The value of a currency is determined by its comparison to another currency. That’s why you will see currency pairs and no single currency when you are trading in the forex market. The first currency of a currency pair is called the base currency and the second currency is called the quote currency. The objective of a currency pair is show how much of the quote currency is needed to purchase one base currency.
  2. In forex trading, you basically sell one currency to buy an other currency. The exchange rate tells you how much money you need to spend in quote currency to buy one base currency. For example, if you want to purchase some Euro’s using the US dollar, you will see an exchange rate that looks like this: EUR/USD=1.1009. What this rate tells you is that you’ll need to sell 1.1009 dollars to buy one Euro.
  3. If you take a long position  it means that you want to buy the base currency and sell the quote currency. In our example above, you would want to sell U.S. dollars to purchase Euro as you expect the Euro will go up in value.
  4. If you take a short position then it means that you want to buy quote currency and sell base currency. So in this case you would  want to sell the Euro  and buy U.S. dollars.
  5. The bid price is the price at which the market is willing to pay for to buy your base currency in exchange for quote currency. The bid is the best price at which you are willing to sell your quote currency on the market.
  6. The ask/offer price is the price at which the market wants to sell base currency in exchange for quote currency. The ask price is the best available price at which you are willing to buy from the market.
  7. A spread is the difference between the bid price and the ask/offer price.

How to trade forex succesfully? The answer to that is : Understand what the current market condition is.

As you may have already know. The market can go in three direction.

1. Bullish direction ( = uptrend , where prices go higher)

uptrend-graph- how- to-trade-forex

How to trade forex in uptrend

2. Bearish direction (= downtrend, where prices go lower)

downtrend-graph-how-trade-forex

How to trade forex in a downtrend

3. Sideways direction (= indecision trend , where prices have no clear direction of where they want go)

sideway-trend- how-to-trade-forex

How to trade forex in a sideway trend

If you want to know how to trade Forex succesfully then follow these formula steps of www.101trading.co.uk

1. Confirm the market condition. Is it in a bullish trend , bearish trend or sideways trend.

2. Put in the price in the stop loss order. ( This way you minimize the loss if the trade goes bad)

how- to-trade-forex-with-stoploss

how to trade forex with using stoploss order

3. Open the first position with a small amount of money. When are you start making a profit it means that the current market condition is still intact and you can increase your position with more money to make a good profit. That is how to trade forex with more succes by using the profit as a confirmation of the market condition.

That’s it for now. Come back to www.101trading.co.uk where we will provide you the knowledge and tips so that you can make more profitables trades. But for now let start trading!

Open a demo account here

 

forex day trading

Forex day trading with currencies in 24 hours

 

In this article we are going are going to inform you on how you can trade for money in a short period of time. After reading this article you will know what Forex Day Trading is all about. Don’t worry even if you have never trade before, this article will help you to understand what forex day trading is. Once you know what it is, you can trade by applying some of our techniques that’s been written in this article.

How does Forex Day Trading work?

Forex day trading is one way of performing foreign exchange trading within a time frame of 24 hours. You can open and close as many positions as you want in a day.  Sometimes its better to hold a position over night.When this happens, your deal will be automatically renewed at 22:00 GMT each night until the deal closes. There is something that you should know upon the renewal you will be charged a fee for rolling the deal for an extra 24 hours. This fee will be collected once a day when the deal is renewed. The fee will be collected from your Free Balance. And if by chance you don’t have a sufficient free balance then your credit card will be debited. If you don’t have a creditcard , then next time you have a free balance and execute a withdrawal from your account, the amount owed due to non-payments of the rolling fee will be deducted from the amount you have withdrawn.

Now back to answer the question on how to trade for money with forexBefore you open a position to trade, you will need to have a trading plan first.

Our strategy

If you want to know of how we set up a trading plan, then you can read it here: Trading plan

What we do when we have  a forex day trading is as follow :

  1. Determine the market condition (trend) of each currency pair. If you want to know of how determine a market condition then you can read it here : Determine Market condition with technical analysis
  2. Then make a trading plan
  3. We then look at the economic calendar to see which data release can have an impact on the forex day trading currencies. We usually look at the economic calendar of investing.com
  4.  After we found an interesting currency pair to trade in , we then use the one minute chart and hourly chart to see for which price point should we buy in the market. To determine the price point we have to indentify  the market cycles or the support and resistance lines in one minute chart and hourly chart.

All of these steps together takes only around 20-25 minutes to do it. The more often you do it the lesser time you will need to do these four steps.

Yes, it is possible to trade with 100 euro and be good at it

[member]We at www.101trading.co.uk trade in Forex with CFDs. The reason for it is that you can make more money as you have a high leverage ration. At Plus500 and Markets the leverage ratio is 1:200. What that basically means is that for every 100 euro that you are investing you are basically investing 20.000 euro. The forex market is a big market therefore if you want to trade in currencies you would need a lot of capital for a small gain, with CFDs you don’t have to and profits are higher because the leverage advantage. If you want to know what the forex market is then you can read it here : Forex market

The other day i didn’t have much time but i wanted to show a friend of mine that can you make money in forex day trading within a time frame of ten minutes with 100 euro. See the picture below for the result of that trade.

Forex day trading profit in small time window

Make money with 100 euro in forex day trading

 

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