Forex for Beginners – Page 5 – Forex Trader Portal

What is Forex?

April 8, 2015 by Michael 1 Comment

A discussion between a professional and a beginner A beginner: – People are of the opinion that Forex is a big swindle. Is that right? A professional: – Yes, that’s right, but only for fools. Just like any other business or a business sphere, Forex hates individuals that are trying to earn easy money but lose theirs out of ignorance, … [Read more…]

The Whole Truth About Leverage in Forex

April 7, 2015 by Michael 1 Comment

Concerning comments in forums, it seems that a lot of people do not understand what leverage in Forex market is. Moreover, there is a myth among new traders just beginning that the bigger the leverage is, the higher the risks. Let’s try to see if it’s true or not. First of all let’s see what a forex … [Read more…]

How to set up the GMT offset correctly

April 6, 2015 by Michael 1 Comment

Hello, dear reader. Many Forex robots have the parameter GMT offset or in other words: Time zone offset from Greenwich Mean Time (GMT). This parameter is needed to allow the robot know how much time in the terminal is different from the GMT. Many assume wrongly that this parameter depends on where they live. That’s not true: GMT … [Read more…]

Lesson 10 – What Is a Trading System?

March 10, 2015 by Michael Leave a Comment

The trading system is all of the trading tools and rules chosen by a trader. A trading system is usually tested using historical data to ensure that it can potentially be profitable if the trader follows the system rules. Using a trading system, it is easier to work because the system has been thoroughly planned … [Read more…]

Lesson 9 – Trading Psychology

March 9, 2015 by Michael Leave a Comment

Trading psychology is one of the most important topics in Forex trading. Traders using demo accounts, i.e. trading with virtual money, show good results. However, when switching to real money their results worsen significantly. The trader, the currency pairs, and the trading system are all the same, but the result is different. Why is that? … [Read more…]

Lesson 8 – Money Management (MM)

March 8, 2015 by Michael Leave a Comment

Statistics show that 80% of newcomers to trading on Forex lose their first deposit. In a lot of cases, it happens because a trader does not know anything about Money Management (MM), does not know how to use MM, or does not think MM is necessary. Using MM is vital to a successful strategy. Ignoring MM … [Read more…]

Lesson 7 – The Indicators

March 7, 2015 by Michael Leave a Comment

Indicators are the instruments of technical analysis that calculate price movements and give a trader the opportunity to make the right decision about entering or leaving the market. It is important to mention that there are no “miraculous” indicators that can predict the price. All indicators are based on the historical development of prices. Therefore, … [Read more…]

Lesson 6 – The Basics of Technical Analysis

March 6, 2015 by Michael Leave a Comment

Gaining success in Forex trading (also true for other finance spheres) is impossible without thorough analyses. A trader should know how to determine the phase of a market at a given moment and its possible direction in order to choose the optimal trade at that moment. Technical analysis helps to answer these questions and to … [Read more…]

Lesson 5 – Types of Trading Orders

March 5, 2015 by Michael Leave a Comment

A lot of newcomers imagine that trading in Forex means sitting in front of their computer 24/7, observing the opened trades and following changes in exchange rates. This indeed sounds exhausting, but luckily it is not mandatory to do so. Using orders can ensure that your trading does not suffer if you are away from … [Read more…]

Lesson 4 – How to Make a Trade?

March 4, 2015 by Michael Leave a Comment

To open a trade in Forex, you will need a special platform (trading terminal), which is provided by the broker. What is a trading platform? A trading platform is a special online trading software where the trader can watch the market and make a trade. Many brokers have their own unique platforms (Oanda, for example), but the most popular … [Read more…]