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Joe Hoover

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    Order is one of the basic terms in the forex market. There are two basic types of orders: market orders and limit orders. In a market order, a trader executes orders at the current exchange rate of a currency pair. So he will that the bid (buying order) or the ask price (selling order) is the best price for that transaction. And in limit order a trader waits for a certain desired price and the broker will execute the transaction when it reaches to that value.
  2. Broker is an important party in the forex market since it is the intermediary that provides trading place to traders of a currency pair so that both parties can enter in a profitable currency exchange trade. Again in this decentralized market only working with a regulated broker can give some safety issues regarding trade executions. So before investing any money with my broker, I will definitely check whether it is a regulated broker or not. After that I will check the other trading facilities.
  3. The Basics...

    Forex market is a virtual global currency market which is one of the largest financial markets in the world. This over the counter market consists of institutional investors, central banks, commercial banks, multinational companies as well as retail traders and investors. All the parties can engage in trading from any part of the world and it is a 24 hour market one can enter here at any time. So it is better for the traders to learn at least the infrastructural nature of forex before entering into trade.
  4. Introduction to Fundamental Analysis...

    There are two basic types of analysis widely used by financial analyst: fundamental analysis and technical analysis. In fundamental analysis, we basically try to determine the price of a currency by analyzing the fundamentals of it, the core element on which price is dependent. The basic fundamentals of a currency are a nation’s government policy, socio_economic environment, political environment, its relationship with global economy, etc. fundamentalists try to predict the price by analyzing trends in the market.
  5. Stop loss

    In every financial market there are certain risk management tools. Forex as a financial market is not exceptional. In order to minimize the risks of losing money in order to price changes trader can give stop loss orders i.e. one sort of limit order. Stop loss orders specify the minimum buying price or selling price of a currency pair. Once the order reaches that level your trading platform will execute the order. Because as a trader you predict that any price beyond the level will cause a huge loss.
  6. We should educate ourselves.

    When a trader has already decided to enter in this risky and competitive market, he should educate himself enough in order to be successful here. Due to the infrastructural nature of forex market, i.e. virtual trading, global currency exchange market; 24/7 open market all these characteristics of forex market make it a complex place to understand. So it is better to learn about forex trading via demo trading accounts, by following successful traders in the forum as well as by following them via Facebook, You-tube, linked in.
  7. Leverage and spreads

    While selecting trading platform certain factors are considered. Two such essential elements for every trader are spread and leverage. Spread is a cost that a trader has to bear while trading and for broker it is a source of money. It is the difference between ask price and bid price of a currency pair. The lower the spread, the better it is for a trader. Leverage is the amount of money a trader can borrow from his broker against the initial margin in his trading account with that trading platform i.e. broker. The higher the leverage, the better it is for a trader.
  8. Why Choose the MetaTrader 5 Trading Platform

    Traders always want to work with more freedom in the currency market I guess. In that case, Meta Trader 5 is a good option. An automated trading platform, also known as robot trading, that offer higher possibilities for trading and greater technical tools to the trader. You can know trade from anywhere using your tablets or smart phones via MT 5. So it allows freedom of movement in a better way.
  9. Risk can't totally wiped out.

    Due to the infrastructural risk factors of forex market, traders are usually afraid of trading in forex. And they are always in the thirst that how risk can be eliminated. But from my point of view, risks can be minimized, can’t be eliminated fully. In order to minimize the risks some tips can be followed: selection of a good regulated trading platform, working with major pairs, using derivative products and EA trading, etc.