Regardless of which financial asset you’re trading, it is always wise to open positions in line with a major, sustained trend. To that end, there are several trend-following indicators that have been invented to date. However, most of these will only point out the direction of market movements and hardly do they ever gauge the strength behind such moves. The ADX, however, has a … [Read more...] about Best ADX Strategies for FX and Crypto Trades
The old adage advises us never to put all our eggs in one basket. This is sound advice, especially for investors, as investing all your capital in one vehicle can prove detrimental when the said vehicle goes south. For that reason, it is always advisable to dip your fingers in several pots, in what is referred to as diversifying your portfolio. For forex traders, this may look … [Read more...] about Best Forex Portfolio in 2022
In the FX market, currencies are traded as pairs. This means by buying a pair, you are simultaneously buying the first currency, called a base, and selling the second, called a quote currency. Selling a pair means you are selling the base and buying the quote. The pair’s price is often listed as two prices, which are called a bid and ask price. The difference between these two … [Read more...] about Best Currencies to Day Trade in 2022
Overview Entering a forex position is easy as pie; exiting is anything but. We should consider trading the markets as a transaction of carefully-planned stages where we account for every phase. These can be grouped as planning, entry, trade management, and, last but not least, the exit. Of course, a successful trader spends a great deal of time mapping out each step … [Read more...] about How to Exit Your Positions Correctly – Forex Risk Management
There are expenses that forex traders must pay to conduct their trading. There are optional fees for items that the trader may choose to buy, such as news services, specialized technical analysis services, gadgets to use, speedier connections, and mandatory costs, which are expenditures that every trader must pay. You'll have to pay a specific amount in charges or … [Read more...] about What Are the Fees a Forex Trader Pays and How to Keep Them Down?