Learning about Forex is a never ending task for every trader. You are already familiar with the fact that the more you read and educate yourself on this topic the chances are your success will be greater. But a lot of traders stay away from actual books written about Forex. Perhaps it is overwhelming because there is so much literature out there and it is difficult to compose a quality reading list especially if you are not a bookish type. This list should make that task simpler and easier because we carefully picked the best books you can find at the moment. They will inspire, educate, entertain, and without a doubt make you a better trader. So start making room on your book shells for a new book haul. 1. Trading in the Zone by Mark Douglas Often regarded as a bible of Forex trading and a must-read, Trading in the Zone is bursting with advice which will most certainly elevate your trading game. Mark Douglas focuses on psychology of trading and all of us already know the importance of maintaining a healthy mindset in this environment. You will not encounter any trading charts or safe strategies in this book….
Casino strategies in trading It is obvious that most of the professional traders enjoy gambling. Also, most of the time it goes another way around. But what happens when professional gamblers become traders? They bring their own strategies into the financial trading markets and change them in such a way that they fulfill all their trading needs and, hopefully, bring decent profits. Interested which strategies taken from the casino found their implementation in trading? Then continue reading!
Double tops and double bottoms are some of the most popular price reversal patterns in the Forex market. They show up frequently on 15-minute charts to weekly time frames. Let us define these patterns and see how we can use them.
In recent years cTrader has securely placed itself as an industry pioneering trading platform. Evolving from FX only into what is now a powerful multi asset class CFD trading platform which has been loaded with hundreds of new features over the past 5 years. Now, some of the dozen or so industry dominating brokers offering cTrader are doing so with thousands of symbols; ranging from equities, indices, commodities and of course, still FX.
Cryptocurrencies are one of the most anticipated topics in the internet nowadays. The idea of currency that is not controlled by any government brings two opposite opinions. First side suggests that such currency is the most reliable in the world, since it cannot be easily manipulated by various monetary policies. The other side claims that cryptocurrencies are dangerous and can bring chaos to the world’s economy. Their biggest fear is that such payment methods will bring the new rise of black markets that are not taxed and not controlled by any legal authority. The very beginning of the cryptocurrencies has begun in 1998 with the work written by Wei Dai called “b-money”. At that time such things as Bitcoin gambling, trading and mining were not common at all. Almost two decades later, these terms are common in the online world and most of the Internet users younger than 50 have heard about Bitcoins, dogecoins and namecoins. Moreover, in 2014 Auroracoin was released in Iceland as possible replacement to a flat currency. All these changes make one thing very clear, the world is accepting cryptocurrencies and prepares to make them as good as international money such as Euro and Dollars. What…
Online Forex trading requires the proper economic tools to help determine price trends and the direction of the current market. An economic tool used today on many trading websites is zig zag, a trend indicator. The strategy is used by international investors and financial advisors to help determine market price trends, short term noise filtration, and to identify patterns in charts. Investors normally use the strategy with systems, such as Elliot Wave. For those of you who don’t know about the different indicator tools used on various trading websites, the zig zag strategy is explained for information purposes only. Explanation of Zig Zag Indicator Tool Zig zag strategy is an indicator tool offered on online trading websites to provide effectiveness in determining stock positioning in an inclusive cycle and the current price trends. The cycle is economic fluctuation activities the economy experiences over a certain period. The period of cycle consists of times of economic growth and times of recession. When there is economic growth, there are increases in the employment rate, sales, and income. If the economy is down, which is called a recession, the employment rate decreases, as well as sales, production, and income. How to Use Zig…
You probably heard from someone or read from somewhere about a character who has been making 6-figure salaries while working at home as a ‘Forex trader’ and wonder “how can I do the same?” Forex trading has always been a perplexing realm in the professional world. The closest thing people associate with Forex trading is Wall Street, and even Wall Street is its own sophisticated, closed-doors industry. You will rarely find any FX trader booths at job fairs or listings of “traders wanted” at online job sites. Nevertheless, make no mistake as there is money to be made as an FX trader and this guide will hold your hand as you walk towards the journey to becoming a profitable, professional Forex trader.
What is the best Forex trading tool? Education. Yes, with good education, you are all set to conquer the forex market. Forex trading is not difficult if you first educate and train yourself properly. Many new traders simply don’t try to educate themselves when they start trading. They just learn a few general concepts thinking that the rest they will learn while trading.
Forex hedging is hedging in the Forex market. Hedging involves a trader reducing his/her risk in trading. This does not eliminate the risk or the damage caused by an unexpected event in the market that causes the position of the trader to adversely affect his/her funds, but proper hedging can reduce the negative effect on those funds. A trader who is long in a currency pair can use hedging to protect himself/herself from downside risk, while a trader who is short in a currency pair can use hedging to protect himself/herself from upside risk.
If you are a really experienced Forex trader, automated Forex software can expedite your research and help you make better trades and more money. However, the problem is that most forex software is marketed to people who have very little to no experience trading forex. Those who sell this automated software would like these inexperienced traders to believe that they can make a lot of money using their software without knowing anything about Forex.