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.
Leverage essentially means having the ability to control a large sum of capital using very little of your own funds and borrowing the rest. When you buy a house on credit i.e. a mortgage, for example, you are actually trading with leverage. Say you put a 25% down payment of $50,000 on a house worth $200,000, you are effectively using leverage here!
Risk management is a phrase traders love to hate. It's the first thing new Forex traders are taught, and it's the first thing they ignore. No matter how much the pros emphasise risk management, the new trader is too easily distracted by the lure of their charts. There's no stopping the train.
Hell's Kitchen, one of Chef Gordon Ramsay's many reality TV shows is quite an entertaining show to watch. Chefs face off to win a grand prize of running their own restaurants at the end. However, the path to success isn't easy as the contestants are truly put to hell. From having to deal with their peers to putting their differences aside and working as a team, Hell's Kitchen simply draws the viewer into it.
At times, the excitement during executions can bring about many emotions. One of these is the feeling of nervousness. Whether new or highly skilled, there will always be moments when traders experience forex trading jitters. In an active and volatile forex market, it is normal to feel anxious about trading activities like entering and closing a trade or planning out the best strategy. Because of this, it is important to properly manage nervous energy to channel more productivity when trading. With enough planning and practice, learn how to easily overcome forex trading jitters for optimal forex trading.
Developed by Scott Carney and Larry Pesavento, after being originally discovered by H. M. Gartley, the AB=CD pattern has become an effective technique to have in one's toolbox. After months of research, back testing and also live trading, we feel comfortable presenting this setup to our readers. Just to be clear, the following is not the holy grail. We've simply took what Carney and Pesavento taught and traded it in our own way, and so far, it's worked nicely.
Catching big reversals is something that many new traders day-dream about but rarely ever succeed in doing. However, the 5-0 pattern offers traders the opportunity to catch these types of market moves by finding a unique entry point.
Traders can spend countless hours and days looking for ways to enter the financial market. On their journey to discover the 'Holy Grail' of market entry, they explore Japanese candlestick patterns, contrarian concepts, the large variety of oscillators, the Elliot Wave theory, and a lot of other technical approaches. Beginners usually learn from oscillators and indicators how to identify entries into the market; the more indicators and oscillators get studied, the more they're used in trading.
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.