Wow, another great day of trading, and we missed 90% of it. We took our short at 1.9000, which we called yesterday, and closed it for a 40 pip profit right before the release of news at 7:30 EST.
From that point on, we waited and watched. We did not go short the second time we […]
Well, another great day of trading. Our resistance level of 1.8900 held beautifully at around 3:30 am EST. In fact, the high on Cable on our trading platform was 1.8906 up until the news releases began.
We took our short at 1.8900 and covered one of our trades at 1.8860 for 40 pips and the second […]
The Forex or foreign exchange is also known as FX, and can be traded upon by anyone from home who has an internet connection and some knowledge.
The great thing about being a beginner to forex trading is you can trade using “monopoly” money if you want to.
Most people have the belief that trading currency is […]
Let’s start this week by looking at the end of last week. We mentioned that we are extremely cautious of Fridays. We generally don’t trade, or trade less, on Fridays.
For some reason, we have not had much luck with trading on Fridays. Levels that hold as support or resistance all week long crumble like dust […]
The key to making money in the currency exchange market is to avoid emotional decisions and to follow a carefully thought out strategy that takes the current market and history into account. Going with your gut is not the way to go in the Forex market. Going with your gut could cost you money. Forex […]
Alright, another night’s trading has gone by and now we have a potential trade setup.
First, though, let’s go over last night. In case you have forgotten, we sat on the sidelines last night, so for us there was no trade. Now, to give credit where credit is due.
For the traders who did go short at […]
First what is Forex: The FOREX or Foreign Exchange market is the largest financial market in the world, with an volume of more than $1.5 trillion daily, dealing in currencies. Unlike other financial markets, the Forex market has no physical location, no central exchange. It operates through an electronic network of banks, corporations and individuals […]
It is possible to day trade currencies along with trading stocks. In case you have ever wondered how the foreign exchange market, or Forex, works, here is an overview of some of the markets basic features:
First and foremost there are the foreign exchange rates, which is the proportional value of two currencies. To be more […]
Understanding how exchange rates work and how they affect Forex markets is essential if you’re going to last as a Forex market trader. Exchange rates, Euros, dollars, yens, marks, francs,floating exchange rates, pips, points - the whole concept of the exchange rate can be daunting for a beginner trader
What the heck is an exchange rate?
The […]
First what is Forex: The FOREX or Foreign Exchange market is the largest financial market in the world, with an volume of more than $1.5 trillion daily, dealing in currencies. Unlike other financial markets, the Forex market has no physical location, no central exchange. It operates through an electronic network of banks, corporations and individuals […]
