Macro economic data is the lifeblood of the Forex markets and whether you are a fundamental or technical trader, it's this data, the changes in sentiment and outlook among your trading peers that drive price action. Simply because FX is all about global macro at heart.
The world of forex is full of excitement; it gives traders the possibility of controlling huge amounts of money without the need to invest a lot of their own capital. The old industry saying of 'buy low, sell high' – when done right – can be extremely rewarding..
Trading can be quite a challenge for most, regardless of whether you are a novice or an experienced trader. Emotions, analysis, trading strategy all play a role when it comes to executing the picture perfect set up. But more often than not, traders tend to end up making mistakes which often can be decisive between increasing your bottom line trading equity and erasing your gains completely. No matter how good a trader you are, here are five most commonly made trading mistakes along with some suggestions on how one can avoid or deal with them more objectively.
Swing Trading is a mid term trading strategy often utilised by FX and CFD traders. Swing Trading positions may be kept open for just a few hours, but Swing Traders can also choose to keep a trade open for much longer, under the right market conditions.
Support and resistance levels or supply and demand levels are the backbones of technical trading. Regardless of the type of technical analysis methods used, be it an indicator based trading system or a price action based trading system, support and resistance levels plays a crucial role.
ActionForex.com was set up back in 2004 with the aim to provide insight analysis to forex traders, serving the trading community over a decade. Empowering the individual traders was, is, and will always be our motto going forward.