Trading Currency Tips Online By ForexSQ
Whether you are a professional or amateur trader, you will need a variety of platforms to be as flexible as possible. The first time I tried to learn how to trade Forex a few ago I spent hours learning new systems or developing my own, and after two years of trying I had lost my whole account and had given up, thinking Forex trading is a game just for professionals.
Forex brokers offer an array of different platforms for trading FX, the most popular by far being MetaTrader 4 (MT4), followed by cTrader, Currenex, NinjaTrader, SaxoBank Trader, etc.. Some of these platforms allow the trader to set the platform (and charts) to their specific time frame, which is helpful and can aid in some trading strategies.
Two hours after the Sydney open, the forex market opens in Tokyo (The Asian or Tokyo session) at 7:00 PM EST and closes at 4:00 AM. Singapore and Hong Kong open two hours after Tokyo at 9:00 PM and close at 5:00 AM. Interestingly, the final Asian Session trading hour when the London Session opens while the Asian session is closing down, makes up one of the busiest forex trading times.
You will find (hopefully) an excellent resource for your learning and trading education, and what I consider most important of all is that such a small fee gesture keeps the site clear of the spoilers that seem to ruin most of the free sites and forums.
On their excellently designed Android Forex trading app, you will be able to buy and sell up to 54 different currency pairs, view professional charts with certain basic indicators and utilize stop and limit orders for a great deal of trade management sophistication.
The bulk of this trading is done for U.S. dollars, euros and Japanese yen and involves a range of players, including private banks, central banks, pension funds , institutional investors, large corporations, financial companies and individual retail traders.
Combinations of the five most popular world currencies – the US dollar, the euro, the pound sterling, the Japanese yen and the Swiss franc, make a group of Forex major currency pairs, also known as Forex majors : EUR/USD, GBP/USD, USD/JPY and USD/CHF.
If you look at the schedule and study the times and also their respective charts, you will see that if you concentrate your trading activity during either of the trading hours for the three largest market centers: London, New York and Tokyo, this is where most market activity will occur, especially when one of these three markets open or overlap.
This comprehensive trading guide provides a complete introduction to the essentials of successful trading; a fresh look at the three M’s, including a proven, step-by-step money management strategy; and an in-depth look at organizing your trading time.