Take your Forex Losses Like a Man

Only a fool would believe that you can enter the competitive Forex arena without taking a few blows. An even bigger fool would also believe that all the blows he or she might endure are shallow. Accepting loss is one of the key elements any trader or investor has to master even before they go ahead with their first trade. It’s an inevitable part of the daily forex circle of life, some will rise and others will fall instantly and it can’t be any simpler than that.

Although you cannot avoid losses altogether there are ways which an aware trader can take advantage of in order to always be the one holding the reins regarding how hard he or she is to fall if they do.

Traders are probably tired of hearing this but actually it’s the most important and basic rule of any venture in the trading world, that is to never stray from your strategy. Forex trading is part lack and part intuition among others but one of the biggest mistakes both novice and experienced traders make is overestimating their own reach. There might be a day where the wins seem to be flowing in but this confidence should never hypnotise the trader and trick them into trading and investing more than they originally planned to.

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Learning Currency Trading – Part 7: EUR/JPY

Introduction:

The symbol EUR/JPY stands for Euro/Japanese Yen. It tells the reader about the number of Japanese Yen that is needed to buy one Euro. In the EUR/JPY currency pair, EUR is the base currency while JPY is the counter currency.

EUR/JPY is one of the most heavily traded currency pairs. However, many forex traders find this pair to be highly volatile with a very large loss risk associated with its exchange. Depending on the market conditions, this particular exchange could either help the trader earn big profits overnight or cause him great losses.

General facts and importance:

Japan and the EU are two successful giants in the global market. With Japanese Yen serving as a proxy currency for Asia and EUR being the representative of the entire Euro zone, the significance of the currency pair can hardly be undermined.
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Learning Currency Trading – Part 3: USD/JPY

Introduction:

USD/JPY stands for U.S. Dollar/Japanese Yen. The symbol denotes how many Japanese Yen are needed to acquire one US dollar. In the currency pair symbol, the USD is the base currency and the JPY is the counter currency.

This pair is made up of an American and an essential Asian currency. The unique aspect of this particular currency pair is that it offers a wider forex market operation time range owing to the large differences between the time zones of US and Asia. The Japanese Yen is largely traded in the forex market during the Asian working hours in the daytime, hence, giving more time to trade for traders elsewhere in the world.

This pair is favoured not only by the novices in the forex market, but also by the veterans. The reason lies in the value of Yen being a safe resort for traders during times when the volatility in the market is exceptionally low.

• General facts and importance:
• Factors affecting the pair:
• Taking advantage of news trading to make money while trading:

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Learning Currency Trading – Part 2: GBP/USD

Introduction:

The quotation GBP/USD stands for British Pound/U.S. Dollar and articulates the number of USD required for obtaining one GBP. In the symbol above, the GBP stands for the base currency while the USD is the counter currency.

GBP/USD currency pair is one of the world’s most heavily traded pairs, which absorbs over 12 per cent of the total market share almost every day. Ranking fourth in the list of the most oft-traded pairs, the GBP/USD is particularly important when trading with Great Britain and other European countries.

Like all other currency pairs, the GBP/USD pair undergoes abrupt and evident changes on a daily basis. However, very similar to the EUR/USD pair, this currency pair is also unpredictable and exhibits extremely high volatility, making it hard for many traders to predict its next trend.

Great Britain and the United States together form one of the biggest giants in the world market, both of them being home to the most of the world’s most important and largest multinational corporations. The two also tend to have exemplary economic stability and progress, thus making the GBP/USD currency pair crucial in the forex market.

General facts and importance:
Factors affecting the pair:
Taking advantage of news trading to make money while trading:
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Learning Currency Trading – Part 1: EUR/USD

Introduction:

EUR/USD is frequently used to denote the approximate value of USD that needs to be exchanged in order to obtain a single EUR. In the quotation EUR/USD, the EUR represents the base currency while the USD is taken as the counter currency.

EUR/USD is perhaps the world’s most widely used and oft-traded currency pair. The reason for the popularity and excessive use of the pair lies in the fact that each of the two currencies are representatives of the world’s most powerful economies; namely, Europe and the United States respectively. The wave of changes throughout the world market is almost always attributed to the fluctuations in at least one of the two currencies.

General facts and importance:
Factors affecting the pair:
Taking advantage of news trading to make money while trading:

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ECN Markets - What Are They?

Brokers who work on the ECN markets are often considered to be counterparties to conventional forex transactions. One of the main reasons for that is because they operate on a settlement basis. They don’t worry about working on a pricing basis. Many market makers offer fixed spreads to their clients, but in ECN markets, the spreads generally tend to vary. The biggest factor that determines the amount of variance is the trading activity of the pair.

HiWayFX offers ECN NDD Accounts covering the trading needs of advanced traders. With leverage up to 1:500, spreads starting from 0 pips, high speed of execution and best prices, traders get the best possible conditions for each order they place.
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Swing Trading

Definition:

Swing Trading is a term often employed to refer to a special method of trading in which the aim is to muster gains of a stock within a set time period of one to four days. Traders who employ this method of trading are more interested in the prevailing value patterns and drifts. The main objective is to collect the profits as soon as the market touches a certain high point.

A swing trader needs to be adept at the skill of technical analysis to formulate his strategy within a very short period of time.

The name swing trading is often used to refer to this type of trading because the currency pairs often reach their greatest potential only for a very short period of time and the trader needs to act immediately in order to be able to garner the gains.

Essentials for swing trading:

Swing trading is not as easy as the name implies. Following are a few things that a trader should know about before deciding to take a shot at being a swing trader:
1) Knowing about the points of resistance and support;
2) Test your conclusions;
3) Application;

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