Myths about Forex
The currency exchange market, or Forex, is well-known to numerous people. Private traders as well as various companies work on Forex. Currency operations are getting more and more popular with every coming day.
Introduction to Forex trading
The essence of any market is buying an item at a lower price and selling it at a higher price. In this regard, the Forex market is no exception, the only difference is that items on the foreign currency market are represented by foreign currencies that have their own prices.
Forex trading strategies
Every trader chooses the most convenient method of trading. The type of Forex trading a trader uses depends on his first-hand experience in money management and the significance of money in his life. There are a lot of strategies of trading on Forex.
Forex market trading hours
The international currency market operates 24 hours a day, 5 days a week, excluding public holidays when all banks are closed. In each time zone there are establishments, selling or buying currency during their working hours.
Forex participants
To start Forex trading, you have to realize what place a private investor occupies on Forex, or, in other words, the role of a trader in the global system of currency exchange.
Advantages of Forex
The foreign exchange market or Forex has the incontestable advantages thanks to those everyone regardless of location, education and income, has the opportunity to trade. All you need is a computer and an internet access.
The guidelines for choosing a broker
Nowadays there are a lot of companies, providing access to online trading on Forex market. Quite often even experienced traders have difficulties choosing a broker that would meet the requirements of convenient and, what is more important, profitable trading on Forex market.
Trend indicators
For allowing a trader to determine the market movement direction the trend indicators were worked out. As a rule, they are not restricted by moving averages. They include such instruments as price models, support and resistance lines, trend lines.
Several ways of employing Fibonacci levels
Each trader applying technical analysis has many postulates he relies on in trading. Quite often it turns out that traders do not go deep into the matter, guided by their market experience only. However, there are effective theories applied to the markets which lack substantial ground. They can be proved by statistics only. This is the kind of theories Fibonacci number theory is attributed to.
Classical Trader’s rules
In order to become successful on the currency market a trader must follow the range of rules. Below we consider the classical trader’s rules which will help you to organize your work on the market in such way that you will have a success and profit on the market.
