Us FX traders are naturally impatient individuals. We want to engage with the forex market, execute our market orders and hopefully bank profit as soon as possible. This enthusiasm must be controlled and channelled constructively. We must develop the patience to succeed in the retail trading complex. If we don’t, we can self-sabotage our potential […]
Hope is never a forex trading strategy Read More »
It’s a busy week for economic calendar events and data releases from the USA. The Fed announces its interest rate decision on Wednesday evening. There is no expectation that the key interest rate will change from 0.25%. At the same time, investors’ attention will turn to the monetary policy announcement made by Jerome Powell (the
As human beings, we crave order and need routines; we want to conform to norms and work in structured environments. Discipline and success are inextricably linked, and FX trading illustrates these requirements more than many other ventures. Whether in work, sports, or stepping outside the convention to become an entrepreneur, you’re reducing your odds of
The 2-2-2 forex trading plan Read More »
While most central banks continue to run NIRP or ZIRP monetary policies (both negative and zero interest rate policies) to navigate the ravages of the pandemic, national currency values mightn’t diverge by significant amounts over the coming months. Therefore, traders must contend with the major currency pairs oscillating in tight daily ranges over the short
As expected, the ECB announced that the key interest rates for the Eurozone region would remain unchanged on Thursday. During the press conference that followed the announcement, the ECB president Christine Lagarde revealed that the current QE/asset-buying programme would not get altered unless economic conditions worsened. The recent commitment by the ECB is 1.85 trillion
You might recognise this scenario. Suddenly, your previously profitable forex trading strategy and method stop working; it’s no longer the great combination you discovered. You did the right things. You tested your theories and ideas out in demo trading, and you developed an edge with positive expectancy. You then moved up to a live trading
Global markets roared back into life during Tuesday’s sessions as US equity markets reopened after the Martin Luther King Day national holiday on Monday. By the time the London-European markets opened, Asian equity markets had experienced mixed fortunes; the leading Chinese index CSI 300 closed -1.47% down the day after China posted better than forecast
Judge your forex broker using specific criteria before opening a live trading account with them. Brokers you consider trading with should uphold exacting standards. They must be non-dealing desk (NDD), they must route your orders to market without interference using a straight-through process (STP), and orders must get routed into an electronic communication network (ECN).
Why an ECN forex broker is the right choice for retail traders Read More »
During the Asian trading session on Monday morning, China’s latest GDP figures became available for analysis. The economy grew by 6.5% during the final quarter of 2020, beating the consensus forecasts of 6.1%, rising from the 4.9% recorded during Q3 2020. Industrial production grew by an impressive 7.3% year-on-year up to December 2020, the best
When we consider opening an FX trading account with European forex brokers, we see prominent banners on their websites revealing the current loss rate of traders who buy and sell CFDs (contracts for difference). These are financial health-warnings similar to what you see on packets of cigarettes, well FX trading won’t give you cancer or
Are you thinking of becoming self-employed? Then FX trading might be for you Read More »
