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Forex Trading Info Resources for Beginner

Forex trading info and guidance resources are introductory level educational tools. Which help traders understand basic concepts, such as pip size and leverage.

Forex Trading Info Resources and Tools for a Complete Introduction to the Market

There few good forex trading info resources available online, which deal with the forex market in great depth. There is absolutely no need to pay for premium seminars and courses at this level of education. It still is complicated, but it can be provided for free. Trading online does require knowing important details such as pip size, and hot it related to leverage. But these resources go beyond the basics, and extend to more tricky subjects, such as indicator reading. Many forex signals can be inferred from basic indicators, simply by advancing the way we read them. And those free forex trading info resources make the transition from introduction to the next level, in a smooth way. Apart from introductory info sources and tools, there are more resources online, also free. These offer guidance on more advanced trading techniques and indicators. Traders however don’t need to read about all indicators, just because they are popular. Indicators and analysis techniques such as Elliott wave theory and Fibonacci numbers do not really work. These are only two examples of subjects where educational online resources dedicate many pages and calculator tools. But they simply don’t work and cannot pass an impartial test. You will find that beginner traders tend to use many popular indicators, and these bad indicators are among those. And they are bad not because they work no better than a coin flip, but because they have been overrated by the online trading community.

Forex Trading Info Sources for More Advanced Traders

More advanced traders still need to have access to forex trading info resources and tools. These traders need to follow the news, economic reports, especially on monetary policy. Much of this analysis has to do with interpreting the complicated language that central bank presidents speak. It’s all about trying to figure out what their speech implies regarding monetary policy. Other kinds of news don’t matter as much as monetary policy. Forex news in general is hard to make sense of, but traders have found ways to deal with it. There are online resources providing info on what the market expects at a particular day or week. And also useful numbers such as volatility levels are provided. Wise traders pay attention to news and volatility, because in the end, it’s all about volatility and daily trading range. It’s okay to be 100% wrong on daily market direction as long as you can figure out the expected trading range for that day. If the first trade fails, you will know whether or not you should reverse direction, and when to get out at a profit. That’s what wise traders need information for. And volatility or news that causes volatility, is their number one concern.

Best Forex Trading Hours

Currencies tend to make their intraday moves at particular times. Detecting these forex trading hours helps avoid choppy, flat price action and false entries.

Best Forex Trading Hours for Day-Traders – Swing Traders

The best forex trading hours especially for day-traders are found around the time where each particular exchange opens around the world. Even though the forex market is decentralized, and live forex rates keep on moving up and down, from Monday through to Friday. Trading activity is concentrated around those hours at the open, or soon after the open. These patterns are not permanent, the currency pair in question may change behavior later, and act differently. But the general pattern is that particular currency pairs tend to at least make their significant moves during the trading time at a particular localized market. This time is essentially the time where all markets, commodities and stocks etc, are actively traded. The best forex trading hours are the ones that offer maximum trending action, if you are a momentum trader. Or the hours that offer almost trendless price action, if you are a scalper. EURUSD for example, is best traded by scalpers during the Asian trading session, because for few hours both European and US trading activity falls to a minimum. There is trading going on, but there are no news announcements during these hours on EURUSD, and news is what triggers those 60pip or 180pip intraday movements. Scalpers are directionless traders, who simply establish a baseline (as in the EURUSD example), which is good for few hours, and then they simply buy dips and sell rallies around that baseline. Day trading forex is very exciting during price trending hours, because the market moves by many pips, fast. This requires skill and preparation, but those who can, do make consistent profits throughout the week.

Best Forex Trading Hours for Hedgers

Hedgers are traders who combine a long term trade, together with many smaller trades in the opposite direction. Usually through a CFDs trading account. The best forex trading hours for hedging are of course the trending hours in the market. Hedgers are more relaxed than day traders because take less overall risk. If the hedging trade loses money, the larger longer term trade is at a profit. Depending on the hedging used, and whether it is dollar for dollar, hedgers may actually hedge the primary losing hedging trade as well. If their belief is that the market will not trend over few days, they see it as a sideways market, and hedge open losing trades. Because the timing is greatly improved through this kind of carefully selected trading time, the overall risk is greatly reduced. After all, successful trading is about staying in the trade for less time, and dedicating more time studying the market. CFD forex brokers make it possible to trade efficiently, and to actually hedge long term trades and investments. Which is a good thing to do, as markets may remain flat or in sideways trading patterns for many months at a time.

Forex Trading for Bankers and Large Fund Managers

Forex trading for bankers and large funds works on the principle of low to medium risk taking. Being large doesn’t not make a fund any less exposed to risk.

Forex Trading for Bankers and Wise Fund Managers

Forex trading for bankers and fund managers can be based on key proprietary methods and ideas. These people have to take risk to trade the forex market just like small traders do. The risk of getting wiped out is always there, as is the pressure for generating profits. Bankers engage in all kinds of trading, hedged trading and Carry trading strategies. Different bankers and fund managers have many different ideas, just like small traders have. Forex trading for bankers and fund managers will always be somewhat successful. Not because they trade better than anyone else, but because if a bank or fund trader fails, they are replaced in no time. Independent traders on the other hand, no matter how small. Can perfectly match or even exceed the performance of these institutional traders through the use of online CFD trading. These CFD trading platforms, in the hands of competent traders can facilitate very advanced trading, including hedging trades. The net result is better profitability, at the same risk. Moreover, independent traders have more trading secrets and proprietary strategies than any institutional trader. And then, there is the factor of decision making speed. When things go wrong, or market volatility changes too much, trading can become extremely difficult for all. Some banks and investment funds allow their traders to make fast decisions, and propose a change of strategy. But usually, the larger a bank or fund is, the slower such changes are. They still cannot match the agility of the small independent trader.

Forex Trading for Bankers Focusing on Global Affairs

Forex trading for bankers with a strong background in economics and world geopolitical analysis is another way of investing. These traders do forex trading in more complicated ways than forex brokers offer to their clients. They look at all kinds of factors impacting currencies around the world, in the long term. And they can hedge part of the risk, in those trades, through other complicated financial instruments. They use their economics models to model risk, these are not perfect. But in general one can mimic their whole strategy 100% through a good CFD broker, right from their home, and for up to $100 per pip. The difference is in that these bankers invest much more than $100 per pip, hence they have to use other instruments to hedge part of the risk. The big difference between bankers and small traders, is trade size. But as far as trading competence goes, small independent CFD traders are actually ahead in the game. And some of them end up becoming institutional traders themselves. As long as they have good trading records to show, and advanced degrees in those fields of economics.

Forex Trading Broker Review Reports by Real Clients

Forex trading broker review reports are useful when they are impartial and have been created by real traders-clients of these brokers. They do a reality check.

Which Forex Trading Broker Review Reports You Can Rely on

Good, dependable forex trading broker review reports are found in reputable online forums. That’s where traders of all kinds, including seasoned and large size traders offer impartial feedback and advice to new traders, regarding various brokers. Most forex brokers discussed in forums are good, it’s just not possible for a bad forex broker to survive out there anymore. Despite that, some brokers are more suitable for day trading, while other brokers are more suitable for Carry strategies and long term trades. Forex trading broker review reports and impartial feedback help new traders see the problems in the industry, and choose the broker that is best for them. The competition in this industry is so fierce that brokers cannot afford not to improve. They cannot afford not to address efficiency and liquidity issues, and not provide the best possible customer service. That is why, under normal trading conditions, most forex brokers can handle your trades well, for trading up to $100 per pip in the forex market. If market conditions become too extreme due to unforeseen events, this presents liquidity problems for even the best brokers out there. At such extreme circumstances day traders may not be able to trade for that day. But other than that, the entire brokerage industry can handle all trades, even fast trades up to $100 per pip relatively well. A decade ago, things were not as good as they are today, and day traders often suffered from slippage and requotes. Today these adverse effects have been minimized dramatically. Review and opinion reports however do help traders find the most suitable broker, best matching their specific strategy

Forex Trading Broker Review and Comparison

Forex Trading Broker Review and comparison reports are a good way to look into what the industry offers. Not just in term of well rated brokers, but also what trading instruments these brokers have to offer. With the advent of online CFD trading, forex traders have looked past spread betting, Futures and the spot markets themselves. And into the benefits of CFDs. CFD contracts do offer some unique flexibility, affordability and exceptionally good liquidity, unique to CFDs. Most people only look at leverage when considering what instruments to trade the market with, but liquidity is far more important. Good CFD brokers win hands down over spot forex brokers, and are way better than spread betting firms and Futures brokers. It’s not just liquidity, but also linearity. CFDs allow you to hedge an open losing trade for several days or weeks, down to the last penny, until you make a decision on that open losing trade, depending on whether the market will swing in your favor. This is impossible to do with spread betting or Futures, because they do not follow the underlying market 100% linearly. Only spot forex and CFDs can provide perfect hedging protection, saving traders $1000s in unnecessary losses. And CFDs do have better liquidity over the spot market as well. That is something to consider in the forex market.

Trading CFD for a Living – Fiction or Fact?

Trading CFD for a living, to the average trader is an elusive dream. It is difficult to accomplice. But to wise, bold traders, with creative ideas it is real.

Trading CFD for a Living is Difficult Not Impossible

Trading CFD for a living is far more possible than with trading through Futures, Options, or the spot market itself. The trick however is that success doesn’t work linearly in trading. Rather it tends to work exponentially. Every trader reaches a limit in their trading skills, a kind of threshold. If they manage to go beyond that, then profitability increases exponentially. Once this limit has been passed, one can see what a difference CFD contracts make. Trading CFD for a living becomes a routine thing, and profits keep on coming in. Not because traders have found the holly grail of predicting markets better. But because CFDs allow them to implement perfect, 100% linear and effective hedging on losing trades. It’s as if getting most of their losses back on the losing trades, while the profitable trades still remain profitable for the most part. CFDs also offer them great liquidity. Online CFD trading is so exciting that all creative traders find ways to deal with losing trades. For example, why use tight stops and risk losing money in a sideways market. When all the trader wants is few hours to let the market settle, and make a decision on the losing trade later. CFD hedging provides the answer, it locks the losing trade by offsetting the losses. And when the market has settled, and the trader has made a decision, with clear mind, they act accordingly on these trades. Success works exponentially, not linearly when trading forex. But it is the very fact that CFDs are themselves very linear in their pricing. Which makes trading through CFDs an even more powerful strategy, once the trader goes beyond their initial limit. It is possible to trade for a living, except that you won’t have a monthly income. Traders who trade for a living tend to increase their account size exponentially, all the way. Until personal limitations, or market conditions impose natural limits. The safety limit on trade size is at around $100 per pip. Once traders reach this size, they will start having liquidity problems, especially if trading fast. But by that time, they will have made millions.

Trading CFD for a Living – It’s a Matter of Faith As Well

Many people will try to discourage you from advancing your trading. These are socially conditioned people who believe that having a 9 to 5 job, is everything in life. And that not having one is like not having an identity. Embarking on trading CFD for a living will surely pose challenges and problems, until you reach your pivotal skills limit. Once you pass that, profits will increase so much, that your confidence will be boosted. And when one has a lot of confidence, other people’s opinion does not matter. Everyone is entitled to having an opinion, and you should simply agree to disagree with them. And it’s not just for trading online. In many aspects of life, you will have to question other people’s opinion. Because people are socially conditioned, and suffer from so called peer syndrome. They would rather accept the wrong opinion, just to make themselves socially compatible. Rather than the correct opinion, and lose that compatibility.

People in general tend to have a negative attitude towards risk takers. They will simply try to dismiss stories of millionaire traders and CFD trading stories, as being fictitious and nonsensical. But they do so through forceful thinking, without evaluating any facts. And it’s all because they don’t want to accept that someone else out there, is so much smarter then them. Wise traders know to evaluate facts, and that trading CFD for a living is possible. If you simply flip the trades of any losing trading method, you will end up with a winning one. The tricky part is in evaluating open losses fast. So as to cut losers short and let winners run for longer. That’s what classic trading theory has been telling us for years. But it hasn’t given us any practical tips to actually evaluate open trades. In reality, it is possible to evaluate open trades and have a profitable trading system. One where total drawdown of no more than 30%, at all times. So no matter what people will tell you in their efforts to discourage you from pursuing trading success. Profitable trading does in fact exist! And it’s best to keep quiet about your own efforts and your trading success. Once you are past the simple CFD trading guide books and seminars, you will be leading a mission of secrecy, where you will look to make money trading. And not seek recognition among negative thinkers. Keep these people away from your trading. If success comes, you can disguise your financial status through some classic business. Say you invested abroad or you are dealing in antiques, and people will buy your story.

Trading CFD for Dummies and Former Losing Traders

Trading CFD for Dummies and Complete Newbies

Trading CFD for dummies and former losing traders is not a very hard thing to get into. It requires though good devotion, and ignoring all negative thinkers.

Trading CFD for Dummies – The Right Way

Trading CFD for dummies may seem intimidating but it is not. CFDs are used by novices and seasoned trades alike. CFDs allow for making mistakes, and even allow for more stress-free trading. This is because many losing trades on the daily time frame can be hedged all the way. Currency trading doesn’t have to be all about directional trades and large momentum rides. It can also be about hedging and offsetting risk 80% of the time, and riding momentum only 10% of the time, or less. The forex market cannot be beaten simply by picking entry points, these are bound to be wrong far too often. That is why trading CFD for dummies is actually possible. And it doesn’t require having a crystal ball, to figure the markets out. Seasoned traders also use CFDs, they don’t have crystal balls or psychic powers either. They simply know more on picking entry points on the market. But they too have losing trades, even at their level of experience. So traders should not be afraid of losing trades. They are part of trading. What CFDs come to offer, is a limitation on these losses. And ultimately a limitation on stress and impulse trading. Because traders can postpone making the crucial decision, on whether or not to close that open trade. Beginner traders can find ways and creative ideas as to how to deal with this. And many of them do actually become very good through practicing, in small size live trading accounts.

Trading CFD for Dummies and Former Losing Forex Traders

Trading CFD for dummies is also what former losing traders need. Fomer losing traders, having lost money in the forex market now lack confidence. They are no better than those newbies. They lack confidence because way too many losses have broken them psychologically. And they still tend to think wrong. This is because they still believe that 80% of the trading game is about riding momentum trends, which is not. There is nothing wrong with wanting to catch a long lasting linear move in a currency. But they lack the analytical skills to filter out so many false signals on the currency charts. Most of these traders blew their accounts because they used too many established nonsensical rules. Such as using ultra tight stops, not adding to losing trades when they should have done so. And also getting out of good trades, way too early. Just because some Fibonacci price projection rule told them so. These former losers can still learn forex trading in a much better way. First they have to pursue the 80% sideways market idea, that the market will trade sideways most of the time. And then look for ways to work on volatility and daily range predictions, and not price trends. The market does move directionally for more than 20% of the time, but the trades can still managed as if it was 20%. All because CFDs can hedge losing trades, very linearly. Thereby giving them time to think again. Without rushing to make a quick decision just for the sake of time pressure.