There are many benefits and advantages of trading forex. Here are just a few reasons why so many people are choosing this market: No commissions No clearing fees, no exchange fees, no government fees, no brokerage fees. Most retail forex brokers are compensated for their services through something called the “spread“. No fixed lot size In… Continue reading Why Trade Forex: Advantages Of Forex Trading
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Know Your Forex History
At the end of World War II, the whole world was experiencing so much chaos that the major Western governments felt the need to create a system to stabilize the global economy. Known as the “Bretton Woods System,” the agreement set the exchange rate of the US dollar against gold. Which allowed all other currencies to… Continue reading Know Your Forex History
Forex Market Players
Now that you know the overall structure of the forex market, let’s delve in a little deeper to find out who exactly these people on the ladder are. It is essential for you that you understand the nature of the spot forex market and who are the main forex market players. Until the late 1990s,… Continue reading Forex Market Players
Forex Market Structure
For the sake of comparison, let us first examine a market that most folks are probably very familiar with: the stock market. This is how the structure of the stock market looks like: By its very nature, the stock market tends to be very monopolistic. There is only one entity, one specialist that controls prices.All trades… Continue reading Forex Market Structure
Best Days of the Week to Trade Forex
So now we know that the London session is the busiest out of all the other sessions, but there are also certain days in the week where all the markets tend to show more movement. Know the best days of the week to trade forex.Below is a chart of the average pip range for the major pairs… Continue reading Best Days of the Week to Trade Forex
Best Times of Day to Trade Forex
Quick pop quiz! What time of the day are TV ratings highest? If you said during prime time, then you would be correct! What does this have to do with trading sessions? Well, just like TV, “ratings” (a.k.a. liquidity) are at their highest when there are more people participating in the markets. So when is the… Continue reading Best Times of Day to Trade Forex
When Can You Trade Forex: New York Session
Right as European traders are getting back from their lunch breaks, the U.S. session begins at 8:00 am EST as traders start rolling into the office. Just like Asia and Europe, the U.S. session has one major financial center that the markets keep their eyes on.We’re talking of course, about the “City That Never Sleeps!… Continue reading When Can You Trade Forex: New York Session
When Can You Trade Forex: London Session
Just when Asian market participants are starting to close shop, their European counterparts are just beginning their day. While there are several financial centers all around Europe, it is London that market participants keep their eyes on. Historically, London has always been at a center of trade, thanks to its strategic location. Today, London benefits from its time zone.… Continue reading When Can You Trade Forex: London Session
When Can You Trade Forex: Tokyo Session
For traders living in Murica (“America”), the trading day actually begins on Sunday night at 5:00 pm EST (10:00 pm GMT). However, liquidity doesn’t really show up until Tokyo opens a few hours later. The opening of the Tokyo session at 12:00 am GMT marks the start of currency trading in Asia. You should take… Continue reading When Can You Trade Forex: Tokyo Session
Forex Trading Sessions
Now that you know what forex is, why you should trade it, and who makes up the forex market, it’s about time you learned when you can trade. It’s time to learn about the different forex trading sessions. Yes, it is true that the forex market is open 24 hours a day, but that doesn’t mean it’s always active the entire day. You can make money trading… Continue reading Forex Trading Sessions