Forex Trading for the Beginners

The Hanging Man Forex –  The Forex Scalper : The Hanging Man Forex is a Bearish candlestick pattern at the end of an uptrend. Mostly appears whenever there is a significant sell-off close to the markets high. However, buyers are capable to lift the pairs price up again so it closes nearby the opening level. Mostly a sell-off as seen as a loss of territory for the Bulls. It shows weakness. As I said before, the  Hanging man Forex  is Bearish when occurs after an important uptrend. I hear you thinking. This patterns can easily occur after a  downtrend  as well right? The answer is yes indeed. However, when that happens it’s called a  Hammer . Recognized by small red bodies (the small margin between open and close prices) and long lower shadows (the lowest is significantly lower as the open high and close). The Hanging man has no or almost no upper shadow and a lower shadow at least twice as long as the body of the  candle . The lower half...

The goal of discipline and patience is emotions and sticking to a defined trade strategy even when the trading conditions or the scenario are unfavorable. Being a more patient and disciplined trader can lead you to success from preparation to implementation. This means that emotions can be better controlled, objective and efficiency managed to achieve the desired result for the day. It also sets  successful strategies  from unreliable systems in the trial and error stages of trade. When you know what to be expected from your system, be patient to wait until the price reaches the levels indicated by your system, for entry and exit. If your system shows an entry at some level but   the forex market  doesn’t ever reach it, go on to the next chance. It’s always going to be another trade. Discipline, on the other hand, means that you can be patient–sitting on your hand until your system unleashes an action. Discipline also means your system has the capacity to pull...

When most new traders cross over from the demo account to live, they usually believe they can easily replicate their trading results on a real account. Because of that, some of the traders are left very disappointed when they learn that this isn’t always the case. Beginner Forex traders are sometimes encouraged to start a  demo account  before risking real money. Thus you can test your newly acquired skills. But, if you’ve spent some time with a demo account, how can you tell if you’re ready to  open live account? As a common way for   a forex trader  to use their transaction execution services and fund deposit as a margin for trading, most online  forex brokers  give potential clients a free forex practice account. Generally known as the forex demo account, these accounts allow a trader to demonstrate what he feels like in the forex market to trade   forex currency exchange pair s  without risking any real money. ...

Overview A Forex currency pair in Forex Market is the selection of the relative value of a particular currency unit against another currency unit. In other words, the value of a currency is determined by comparing its value to another currency.  The first part of a currency pair is termed as “base currency” and the second pair is called “quote currency”. The Forex Currency Pairs determines the amount of money required to purchase one unit of the base currency. This is the reason why  best broker for Forex trading  considers Forex pair as the main aspect of their career. Currency pairs in terms of trading All Forex trades include the simultaneous buying of one currency and selling of another, but the currency pair itself can be considered as a single unit or an instrument that is bought or sold. If a trader buys a currency pair, he’s buying the base currency and is eligible to sell the quote currency. The bid prices determine how much of the quote currency is ne...

Forex trading is a perfect way to add revenue, which is why more and more workers want to get to know the forex market and start trading. Sometimes we think in terms of our normal jobs when we play with the idea of becoming full-time traders. However, if you have ever invested more than a few months, real money or even a demo account, you might have found how hard it is to get consistent returns. Because the markets do not move in such a predictable way, a regular, weekly or monthly payment plan is nearly impossible. Entering into the forex industries isn’t an easy task, so you have to ensure that you are constantly on the ground if you think trading is a full-time job. If you traded for a while and are happy with the results, perhaps it is time to switch. When you become  a forex trader , your strategy will be like that. But you can always build on it if you have a stable base. Making a career move can make even the most trusted characters daunting. Ask yourself, am I...

It’s not always easy to be a trader Successful trade in currencies requires hours of preparation, criticism, and  decision-making  on the field. This causes severe tension, so it is no surprise. Stress in forex trading rises every day and can lead to a mental collapse in a worst-case scenario. It sounds frightening and could make one totally rethink the trade. However, there are some ways to reduce stress in forex trading. Low-Stress Trading Confidence is the key to stress-free trading . But now, you should know, that confidence is easier to say than to do. It can be difficult to keep yourself cool and calm when it comes to money. The first step to regulate stress-free trade is to understand its importance. We have already found that stress can lead to serious problems with health. But what’s the downside of stress outside the safety of traders? Pretty simple:  The quality of the trader is most definitely affected. This is caused by the lack of attention and...

Learn the Best Scalping Forex Strategy What is a Good Strategy for  Scalping Forex ? There are different strategies to be found when it comes to scalping. Often different indicators are used with scalping. The Forex Scalper does not actually work with indicators, but I have described a way in which you can use indicators (which I do not like at all) to the scalp. Just for the sake of clarity, this is not the way we the forex scalpers work/scalp! How to Start Scalping Forex Strategy? Place a 5-8-13 SMA combination on the two-minute chart to identify strong trends that can be bought or sold short on counter swings, as well as to get a warning of impending trend changes that are inevitable in a typical market day. This Scalp trading strategy is easy. The 5-8-13 ribbon will align, pointing higher or lower, during strong trends that keep prices glued to the 5 or 8-bar SMA. Penetrations into the 13-bar SMA signal waning momentum that favors a ...