Do you know about the reputable 90/90/90 rule? It states that 90% of traders lose 90% of their capital within the first 90 days of trading. This troubling statistic points to the inherent challenges of trading. Mastering the required skills like objective analysis balanced with psychology, implementing risk management protocols, and strategic planning takes tremendous effort, especially for beginners. Additionally, information overload coupled with dynamic market forces proves confounding to navigate. However, while steep, the path to sustainable trading success is achievable. It requires vigorous self-examination, embracing continuous improvement, and adopting industry best practices around analysis proficiency, psychological refinement, risk…
Author: kent
I'm Kent, and I've been a Forex trader and writer for the past 15 years. Working for the forex brokers, as well as a partner over the years have increased my knowledge to help You become a better educated trader.
Forex trading from home has become one of the most popular ways to earn an income by stay-at-home men and women. An industry falsely associated with just men has proven to become more and more popular with women as well, who can take advantage of the ease of which it is to start online trading. It is a good way to increase your income successfully, and can be done from the comfort of your own home. What is Forex Trading and Who Can Do it? The online Forex market is basically a place where currency is traded. It is the…
Forex trading can be a great way to earn more money. Here are six tips to help you improve your forex trading skills and become a more successful trader. 5 Helpful Trading Tips 1. Learn How To Trade The more you know about trading, the better your chances are of being successful. It’s important to spend time improving your knowledge and trading skills. It will help you make better trading plans and improve your chance of long-term success on the market. Most forex brokers offer free educational resources such as webinars, e-books, and seminars. 2. Practice On A Demo Account…
An economic calendar is a forex trading tool which includes important financial information like consumer prices index, insurance rates, employment reports, non-farm payroll numbers, purchasing managers index, GDP reports, inflation reports, confidence data, and speeches by central banks. Forex traders use economic calendars to track market-fluctuating events by means of data research. By doing so, a forex trader can adequately anticipate when major movements will take place. Importance of an Economic Calendar to Forex Traders Economic news has a tendency of drastically affecting the forex market as a whole, and whether the financial market conditions are met or not, an…
Many people think that being a trader means you need to get in twelve hours of pure market action every day. But trading the markets doesn’t have to be your full-time job. That’s right. You can do other things too and still become a successful trader. To help you get a feel for what trading style might work for you, let’s look at some of the most popular ways of trading. Common Trading Styles Scalping Scalping is about high-frequency trading, and we’re talking minute-by-minute here. Traders who trade this way will scour the market non-stop looking for a quick profit.…
With so many brokers out there, it can be hard sometimes for new traders to know where to put their hard-earned money. Here are a few things to consider when deciding who to trade with. Minimum Deposits The first thing you need to decide is how much money you want to trade with. The amount of money you put in as your first-time deposit will determine to an extent which brokers you can open an account with, the trading conditions that will be available to you, and the level of trading and educational support you will get. You need to…
If you’re on our site, you’ve probably already come across ‘forex trading’ and are curious to see what opportunities it might hold in store for you. Before you start, it’s important to learn a little about what forex trading is and how it works. What is Forex Exactly? The word Forex is an abbreviation for ‘Foreign Exchange’ and refers to the exchange of one currency for another on the over-the-counter market (OTC market) for an agreed price. The average turnover is over 5.3 trillion USD a day, making it the most traded market in the world. Forex has no central exchange…
The forex market is active 24 hours for five days a week. However, certain trading times are more convenient than others. This is due to reasons such as; As a new trader, you might want to choose the most convenient trading time for you. Taking this into account, this article explains the best time to trade forex in Kenya. Forex Trading Sessions In Kenya Time – By City The forex market is usually broken up into four key trading sessions. These sessions include; Sydney session, Tokyo, London, and New York session. EST (OPEN)EST (CLOSE) EAT (OPEN) NAIROBIEAT (CLOSE) NAIROBI GMT (OPEN)GMT (CLOSE)Sydney3…
Are you finding it hard to deal with the losses that sometimes come with online trading? You’re not alone. Forex trading isn’t easy and we all have our bad days. It can be hard to deal with failure and that is why we’ve come up with 5 trading tips for getting back on track. Every trader knows that the occasional loss is inevitable. The Forex market can be very volatile and it’s hard to know what will happen next. Currency prices can change very quickly, especially after big data releases and global economic events. And it’s impossible to get things…
Have you ever wondered what it is that makes some forex traders so successful? The answer is simple. The ability to learn from their mistakes and do better next time! Yes, that is right. Most professional and successful traders have made mistakes in the past, and nearly all of them have lost money at some point. But all of them came back stronger – because they never made the same mistake twice! Now, no one likes to make mistakes. In fact, it would be great if you could just learn from the mistakes of others, and find out how to…