Best Forex Trading Platform Online
Have you ever asked yourself why is it that sometimes the Forex market seems sleepy” whatever you try to do seems like you are just wasting your time and efforts? Set a percentage of your total day trading budget (which might be anywhere from 2% to 10%, depending on how much money you have) and don’t allow the size of your position to exceed it. Otherwise, you may miss out on an even better opportunity in the market.
Though, Forex participants (central banks, commercial banks, investment banks, brokers and dealers, pension funds, insurance companies and transnational companies) were in a difficult position, the Forex market continues to function successfully, it is a stable and profitable as never before.
These companies are not supervised, connected or affiliated with any of the regulatory agencies such as the Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA).
To learn more about how to day trade forex, including basics to get you started (order types, currency pairs to focus on, defining trends…), 20+ strategies and a plan to get you practicing and successful, check out the Forex Strategies Guide for Day and Swing Traders 2.0 by me, Cory Mitchell, CMT.
As with all things, different people prefer to trade Forex differently and there is no one correct way to do it. In fact it is because we all view and interpret the markets differently that such opportunities for profit exists – essentially we trade based on what our own understanding of a situation tells us has happened and is likely to happen in the future.
The premise of Forex fundamental analysis is that macroeconomic indicators like economic growth rates, interest and unemployment rates, inflation, or important political issues can have an impact on financial markets and, therefore, can be used for making trading decisions.
There is a US/Europe overlap between 8:00 am and 12:00 pm and a Europe/Asia overlap between 2:00 am and 5:00 am. Tokyo (7:00 pm to 4:00 am) starts trading for the week and numerous well-established investors take advantage of trading momentum as a means of creating tactics and as a measurement for dynamics in the future market.
In the past, only large international financial institutions were allowed to trade currencies, but with the introduction of online forex brokers, i.e. forex trading platforms, individuals are also given an opportunity to invest and increase their capital by trading currencies.
Forex market has no physical location where all the buy and sell take place, therefore it allows anyone from any part of the world to participate, when one market closes another market opens giving everyone across the globe an opportunity to get their share of this trillion-dollar pie, but you have to know the best time to trade Forex.