Are you a noob struggling to make sense of all the seemingly complicated trading concepts? Or are you an expert trader searching for bigger challenges? There’s an overwhelmingly large amount of information out there and we don’t want you to get lost! That’s why we decided to come up with this quiz that will help… Continue reading Quiz: What Is Your Level of Trading Experience?
Month: October 2022
Quiz: Which Currencies Should You Trade?
Each currency pair is unique. As Dr. Pipslow said about finding your trading niche, each set of currency pairs has its own behavioral tendencies that set it apart from the others. It is important to match your personality with the behaviors of the pairs you trade. We already talked about the majors, the comdolls, and the crosses in… Continue reading Quiz: Which Currencies Should You Trade?
Quiz: Which Trading Style Is Best For You?
During Junior Year in the School of Pipsology, we learned that each forex trader is unique and that various trading styles fit different types of personalities. If your personality doesn’t match your style of trading, you could wind up hurting your account AND your ego. This quiz can help you find out whether you are better off… Continue reading Quiz: Which Trading Style Is Best For You?
How To Protect Yourself From Forex Scams
So what have we learned? Scams ARE real! Yes! Really bad people are out there trying to make a dishonest living. However, unlucky for them, you are smart! You know that the only way to succeed in currency trading is to learn from square one and gain trading experience! Now say this three times out… Continue reading How To Protect Yourself From Forex Scams
Foreign Regulatory Agencies
UK: The FCA and PRA If you live in the U.K., the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are for you! On April 1, 2013, both of these agencies replaced the Financial Services Authority (FSA) as the financial industry’s regulatory bodies. The Financial Conduct Authority is a non-government agency funded by the firms they regulate, and… Continue reading Foreign Regulatory Agencies
U.S. Regulatory Agencies
Despite the forex market is the largest financial market in the world, it remains largely unregulated. There is no international organization or global agency that monitors and oversees the currency trading occurring all over the world in the interbank. Due to the unregulated nature of the spot FX market, this opens up the opportunity for… Continue reading U.S. Regulatory Agencies
Forex Broker Scams
Watch out for forex broker scams! Believe it or not, there are some brokers who “cheat” their clients. One way they do so is by manipulating bid/ask spreads. Normal spreads between brokers would be around 2-3 pips but scammers would have spreads around 7-8 pips. Seven pips might not seem like a lot, but it does… Continue reading Forex Broker Scams
Forex Signals
Forex signal services do everything a robot does except the actual execution of trade entries. Besides possibly using an automated program, a “professional” trader may generate trading signals (for a fee, of course) for clients to act upon. However, you may be paying for a signal in which you do not know the rationale behind each… Continue reading Forex Signals
Forex Robots
Forex robot scams encompass Expert Advisors (also famously known as EAs) and other automated trading systems. What is a forex robot? In the forex world, a “robot” is a program that strictly uses technical signals to enter into trades and lets the human sleep in a hammock on a beach while he “makes” money. With a… Continue reading Forex Robots
Forex Scams
“Buy my ‘End of the Rainbow’ system and you’ll be able to make at least 100,000,000%!!!” It’s like finding the end of a real rainbow but easier!! Guaranteed profit worth a hundred pots of gold with absolutely no risk! Don’t be a sucker! You’ve probably heard or seen something similar on TV ads, online pop-ups,… Continue reading Forex Scams