In the not-so-distant past, Forex trading was primarily driven by intuition, market experience, and fundamental analysis. However, the introduction of Forex chart indicators revolutionised the landscape, providing traders with a powerful analytical tool that transformed decision-making. A trader using chart …
Read Part 1 of this article to learn about the purpose of charts in Forex trading, different chart types, and how to use line charts. Bar Charts (OHLC) OHLC stands for Open, High, Low, and Close. Bar charts are a …
Picture this: you’re standing on the bustling floor of a stock exchange, surrounded by traders frantically waving their arms, shouting buy and sell orders. The numbers on the screens are changing rapidly, and the stakes are high. source: Financial Times …
Imagine you’re planning a road trip across the country. To make the journey smoother and safer, you rely on your GPS. This trusty device provides you with a simple yet powerful tool – the estimated time of arrival (ETA). source: …
Imagine standing amidst a sea of people at a grand concert. The electrifying music pulses through the air, and you can feel the excitement building with every beat. As the artist hits a high note, the crowd erupts in cheers, …
In ancient Japan, there was a brilliant rice trader named Munehisa Homma. He had a unique talent for predicting future price movements in the rice markets. How did he do it? Well, he closely observed market prices and studied the …
Imagine you have $1,000 and want to invest in the foreign exchange market, commonly known as Forex. Traditionally, your $1,000 would only allow you to control a small trade size. However, with margin trading, you can now control a much …
Let’s say you are a Forex trader who is interested in trading the EUR/USD currency pair. You know that the European Central Bank (ECB) is scheduled to announce its interest rate decision tomorrow. The ECB’s interest rate decision is a …
Imagine you’re at a bustling street market in a foreign country, excited to exchange your currency for the local one. As you approach the currency exchange booth, you notice that the exchange rates are constantly changing. Every time you see …
Forex trading is a global market that operates 24 hours a day. And it is important to know the best times to trade in order to maximise your profits. The Forex market can be divided into four major trading sessions: …
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