How many types of forex traders are there? Some like to scalp the markets, while others play the long game of swing and position trading. Either way, every trader should know who they are as investors and which trading style aligns with their personality, risk appetite, skill level, and objectives. They say there are many ways to achieve your goal, and in forex, this is … [Read more...] about The 6 Main Types of Traders In Forex
The Forex market remains open 24/7, and there are such a huge number of financial instruments and currencies you can trade in that it can feel quite overwhelming for a beginner. There is no ‘one suits all’ approach when it comes to trading in pairs, and you need to assess each pair based on your trading strategy in order to decide on its efficiency. For example, the EUR/USD … [Read more...] about Choosing a Currency Pair Based on Your Forex Trading Strategy
You may be wondering, are there any tangible reasons why MT4 is now the preferred forex trading platform? Aside from being one of the oldest in existence, there are several perks the software offers that have cemented its place as a mainstay. They say ‘old is gold,’ a fitting statement to describe the legacy of forex’s most sought-after trading platform, MetaTrader 4. … [Read more...] about Why Is MT4 Such A Popular Trading Platform For Forex?
Forex majors refer to currency pairs of the developed countries that have the US dollar as the base or counter-currency. In 2020, the main underlying concern of most currency majors was about the weaker US dollar. The dollar rose in the first three months of the year as the Covid-19 pandemic started to spread internationally. For the rest of the year, the currency declined … [Read more...] about 2021 Outlook for the Best-Performing Forex Majors in 2020
Introduction A story is told of a Japanese man who walked to a currency exchange counter to convert his dollars into yens in a US airport while waiting for a Japan-bound flight. The man counts the money he receives and immediately starts fuming. He says, "When I landed here last week, my yen gave me more dollars. I smell fraud in here!" "Fluctuations, Sir!" the woman at the … [Read more...] about Tips to Mitigate Exchange Rate Risk