Forex Basics

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Forex Basics category contains articles about the basic concepts of the forex world: Pairs, lots, pip, spread, slippage, and volume are covered in simple to understand articles.

How to Make Real Money with a Forex Demo Account

A demo account serves as a simulation account that traders can use to practice trading in a live environment with virtual currency. Opening a...

What Equipment Do I Need to Trade Forex?

So, you want to start trading on Forex, but don’t know what equipment you need? Scared that you might start something and then realize...

How to Open a Trading Account with Only $5

If you’ve ever compared forex brokers, you might have noticed that some companies require a large amount of money to open a trading account....

Top 10 Fun Facts About Forex Trading

When it comes to forex and trading, there is loads of information out there, it also has a very rich history, so when we...

Five Important Stats to Log in Your Trading Journal

Whether you’re only considering trying out forex trading or you’re already a trader, there’s a good chance that you might have heard tips mentioning...

Top Four Questions For a Professional Prop Trader

Becoming a professional prop trader is not easy. The positive results of trading and effort come after a few years. Whatsmore, they may not...

The Best YouTube Channels for Forex Traders to Follow

Traders can get information about forex trading from a variety of sources, including articles, eBooks, audiobooks, and paper novels, training courses, webinars, seminars, videos,...

What Are the Advantages of 1:1 Leverage in Forex Trading?

When it comes to leverage, you often see larger numbers being advertised, brokers trying to entice in new traders and new webers with the promise of sky-high leverage. In fact, the new standard of leverage being given by brokers these days is around the 500:1 level which would have been unheard of a few years ago. Some people, however, still swear by simply not using leverage, to use an account with a 1:1 leverage which basically means that you will be using your own money and only our own money, not borrowing from the broker at all. This does of course come with some advantages, advantages that we will be looking at in this article, so let’s jump in and see what the advantages of trading with a leverage of 1:1 are.

Women in the World of Forex

In this article, everything is based on an opinion, experience, conversation, and basic research by people that work professionally as traders on forex. It...

Even a Combination of Double Top and Engulfing Fails

Double Top/Double Bottom is one of the most robust patterns that price action traders wait to take entries. When the price is rejected twice at a resistance level, it forms

ECN Account or Standard Account: Which is Best?

One of the most basic questions regarding trade is what kind of broker to use. The conclusion will depend on your situation, but let’s...

Classic Quotes Relevant to Forex Traders

Often when we think about certain quotes in relation to forex and trading, we are thinking of ones that are solely from those that...

20 Quick Answers to Common Forex Trading Questions

Without a doubt, the topic of Forex trading brings with it many questions. There are questions related to strategies, brokers, fund management, and much...

Stop Loss: An Art to be Learned Well by Traders

Setting Take Profit and Stop loss in the right areas are essential factors in trading. A trader does not survive in the market by placing Stop Loss and Take Profit

A Lesson from Bill Lipschutz: Professional Forex Trader

If you Google “top forex traders” or anything close to the phrase, Bill Lipschutz is bound to be on the list. This professional trader...

What is a Forex PAMM Account?

You will see that some Forex/CFD brokers, usually the largest, offer a "PAMM Account". What is this type of account? In short, "PAMM" (in...

Supply, Demand and Liquidity as Drivers of Prices

Markets are "places" where people and institutions exchange assets. It may be stock shares, commodities, grain, livestock, or currencies, but all markets behave similarly. Buyers and sellers look for the

Trader’s Guide to Proprietary Forex Firms

What’s the hottest trend in Forex today? Did you know that somebody else is willing to risk their own money instead of yours, and...

The Best Place to Learn Forex Trading

Last May I visited New York just for fun but out of nowhere, I met a guy who is a professional Forex trader. The guy has slightly over ten years of a carrier in trading and we had a very enthusiastic conversation, together with his friend trader, about how to chose the right path to educate yourself about this type of trading. So, the question is, what is the best source to learn Forex trading?

Forex Trading Is A Scam!

Forex trading is a scam! That is something that you hear thrown about the internet quite a lot. We are here to take a...

Forex VIP Trading Accounts Explained

A VIP account is a type of trading account that is offered by many forex brokers. If you’ve heard of them, you might already...

A Story of a False Bullish Breakout

In today’s lesson, we are going to demonstrate an example of a short entry that is derived from a false breakout. It contains two lessons. Let us get started.

What We Can Learn from Billionaire Trading Legend George Soros

If you want to get really good at something, it helps to take a few tips from the professionals. In this case, we’re looking...

Pips and Lots: What They Are & How They Differ

In this article, we have to do some basic math. It is very likely that you have heard the terms "lot" and "pips" and...

Gann’s 20 Rules of Trading

William D. Gann was a financier who developed a technical tool known as Gann’s angles. The trading rules with which it operated are as...

How to Recover From a Blown Trading Account

The worst-case scenario for the many traders is a blown account, this is where your broker has decided to close all of your trades...

Inside the Daily Routine of a Forex Trader

What does it mean to be a forex trader? What is like to be a trader who is brand new and just starting in...

A Summary of Trading For A Living by Dr. Alexander Elder

Trading For A Living is an excellent read for those who wish to learn about the many aspects of the trading world. The book was written by Dr. Alexander Elder and published initially in 1993, with a new version in 2014 (translated into Spanish in 2017). What follows is a summary of this work for those who are interested in learning more about trading. 

Forex Ponzi Schemes To Be On the Look Out For

You have probably heard about Ponzi schemes or at least the fact that a lot of people have lost a lot of money to...

SMART Goals For Forex Trading

You have probably come across the term SMART goals before, it is used all over the world in pretty much every profession that you...

Everything you should master to Detect Trends, and more!

Introduction In chapter 1, we’ve set the foundations of market classification, what a trend is about, and the dissection of a trend in its several phases. Then we talked about

Is Forex Really Just a Game of Probabilities?

Many things in life are all about probabilities, forex is no different. The most well-known game of chance is the simple coin flip, it...

Bill Williams – Psychological Analyst, Author, and Trader

Bill Williams is well-known in the forex industry because of his input from an educated psychological standpoint and because he has created multiple trading...

Which Countries Ban Forex Trading?

Forex trading is certainly legal in the vast majority of countries around the world, and very few countries prohibit speculative currency trading. At present,...

Why Forex Traders Must Value Their Time

All traders at the end of the year always take stock of their own trading activity. There still exists an element that is never...

Exploring the Differences Between Sports Betting and Forex Trading

With the rising number of testimonials discussing forex and the reasons behind individual success stories, correlations between sports betting and this form of trading...

Signs You’re Actually Becoming a Forex Trading Expert

We all hope that one day we can be considered an expert trader. Being an expert will mean that we know exactly what we're...

How Do I Know if a Trading Strategy is Good or...

If you plan to succeed as a Forex trader, you should be able to distinguish between good and bad business strategies. While the easiest...

Top 7 Reasons Why Forex Traders Quit Trading for Good

The sad truth about trading and forex is that the majority of traders give up, there are many reasons why they may be giving...

10 Books That Can Definitely Make You A Better Trader

What’s the best trading book? This answer will depend on where you are and where you want to go deeper, whether you are starting,...

Importance of Timing in Trading

Timing is an essential factor in trading. Price action traders take entry on signal candle’s/bar’s attributes and support/resistance breakout. Many traders ignore the timing factor. However, it is an important

7 Horrible Mistakes You’re Making With Forex Trading

If we are going to be completely honest, we all make mistakes and when it comes to trading, we have made many, and we are sure that you have too. Some of them are not too bad, some of them though, are pretty horrible and have thrown off our trading quite a bit. If you look back, we are sure that there are some mistakes that you have made in the past, especially when just starting out that you are most likely not too proud of. We are going to be looking at some of the horrible mistakes that we have made and that other trades have made during their forex trading careers.

How to Correctly Use an Economic Calendar

The Economic News Calendar, also known as the calendar of economic events, plays an important role in the life of every trader and investor...

Advantages of Forex Trading – Leverage, Liquidity, and Volatility

There are a lot of advantages to trading forex over some of the other methods of trading such as stocks, some of these advantages...

Rules That Most Professional Traders Follow

Professional traders are the people that are putting the food on their table with what they make with trading, so they must be doing...

7 Things that Successful Forex Traders Don’t Do

We often hear about the habits of successful Forex traders and study what these individuals do on a daily basis. Have you ever wondered...

A Winner is Not Always a Good Trade

Price action traders use chart combinations such as Weekly-Daily, Daily-H4, H4-H1, and H1-15M, etc. Intraday minor charts’ traders such as the H1, 15M, 5M do not have an undeviating relation

How Much Money Do You Need To Trade Forex Professionally?

How much should we invest in Forex trading? Too much, we will end up broke, too little, we won’t make anything. What is the...

Some Spikes are Not to Be Ignored

Forex traders often struggle with spikes on their trading charts. The Line chart does not show spikes, but Candlestick Chart does. Price action traders usually use candlestick charts as one of their weapons to trade effectively. Thus, they face this problem every now and then. There is no sure method confirming which spikes are to be ignored, and which are not to be ignored. We have to be sensible about that. In today’s lesson, we find out a kind of spikes that are not to be ignored. Let us get started.

Attributes of the Signal Candle Not to be Ignored

After choosing a pair to trade, traders wait for the signal candle at the desired zone/level to take an entry. The attributes of the signal candle are important. Ideally, a