The Elliott Wave theory is very popular within the trading community. It was developed in the 1930s by Ralph Nelson Elliott. This theory is a technical analysis method in which patterns are used to identify market fluctuations. It is also …
One of the first terms you normally hear are bullish and bearish. But what do they mean? What do bulls and bears have to do with trading? Well it is very important to understand these two terms. Simply understanding the …
You might have heard of correlating currency pairs, but what does it mean? In the forex there are pairs which correlate, meaning there is a relationship between separate pairs of currency. Such correlation between currency pairs can either be …
Many of us will not realize the power of compounding until you do the math. The idea of compounding is simple, yet it can make huge difference in the long term. “the power of compounding” is something Warren Buffet has …
Whilst there is no ‘magic bullet’ that can bring overnight success to traders on the global currency market, there are things that can be done to help traders maximise their chances of success:
Choose a trading method and stick to it
At Your Trade Mentor we often work with traders who are chasing the latest indicators that will make them rich. Switching methods regularly is not advisable, especially for beginners.
Most successful traders have chosen a trading method, built it up gradually and perfected it to serve them well in the long-term.
Price action trading is a good method for beginners, it’s a method that has been around for a long time and is robust enough to perform when the market dynamics change.
If you want to carry on trading whilst you sleep, then you may be considering an automatic trading system. It’s a piece of software that can programmed to match trading strategy and automatically submit your order to the market. Automated trading systems are commonly known as an EA (or Expert Advisor) as they can handle repetitive tasks on your behalf and carry on trading when you are unavailable.
Learn from the best mentors – and don’t repeat their mistakes
The foreign exchange (Forex) market is a global marketplace with over five trillion trading hands each day. It’s the world’s most liquid market, in which many traders reap the rewards from their trading.
Put simply, the key objective of the Forex exchange is to trade one currency for another, with the expectation that the currency you purchase will increase its value in comparison with the one you sold.
If you are considering beginning to follow the Forex markets and wondering if you can make money from worldwide currency trading, then read on to discover our tips for maximising your chances of success in this fast-paced market.
The Forex exchange one the world’s most extensively traded markets and allows traders to invest on fluctuating price movements in the worldwide currency market. But should you begin to trade on the Forex exchange or the stock exchange? Here’s of …
It’s a question that we are often asked. To understand the best times of the day to trade on the global currency markets, it’s important to understand the time zones of the four major Forex exchanges. Located in London, Tokyo, …