Forex trading, also known as FX trading, involves buying one currency while simultaneously selling another. Essentially, it’s the act of making predictions based on the economy and political news around the world, which could cause fluctuations in the exchange rate of different currency pairs. Becoming a successful FX trader requires skill, knowledge, and constant learning. This guide will teach you some of the fundamentals of forex trading, including a special mention of trading with gold CFD.

Understanding The Forex Market

The forex market is the largest and most liquid financial market in the world. Unlike other financial markets, the FX market is open 24 hours a day, five days a week because it spans across all the different time zones. It’s mainly made of four types of participants: commercial and investment banks, brokers, institutional investors, and retail traders. Forex trading is all about predicting the potential rise or fall in the value of one currency against another.

Choosing A Trading Platform and Broker

Before you can start trading, you need to choose a reliable trading platform and a broker. The platform is the software that you will use to perform your trading activities, while the broker is the company that facilitates your transactions. While choosing a platform, look for one with a user-friendly interface, powerful charting tools, flexible leverage, and reputable brokers. Remember, your broker should be licensed and regulated by financial authorities like FCA, CySEC, or ASIC.

Developing A Trading Strategy

Trading without a strategy is like going into a battlefield without a game plan; you’ll most likely lose. A trading strategy defines when to enter or exit a trade, the amount of money to be invested in each trade, and the trading pairs to focus on. It can be built on various trading styles like day trading, swing trading, position trading or scalping, depending on your goals.

Understanding and Analyzing The Market

Successful FX trading requires a strong understanding of the forex market. Two types of market analysis are typically used: fundamental analysis and technical analysis. Fundamental analysis involves studying economic indicators, political news, and social factors that could influence a country’s currency. Technical analysis, on the other hand, involves predicting future movements based on historical price charts and market statistics.

Let’s Talk Gold CFD

Contracts for Difference (CFDs) are popular instruments traded in the forex market. Trading gold CFDs involve speculating on the price of gold without the need to physically own it. With gold CFD trading, you can take advantage of price fluctuations to make potential profits. As gold is considered a ‘safe haven’ asset, it can be an appealing option for traders during periods of economic uncertainty.

Managing Risk

While forex trading can be lucrative, it is also risky. Hence, you need to employ risk management strategies to limit potential losses. This could be setting stop loss levels for your trades, not risking more than a certain percentage of your trading capital, and always maintaining a balanced portfolio.

Remember, FX trading is not a get-rich-quick scheme. It requires time, patience, practice, and a solid understanding of the fundamentals. With diligent studies, attentive news tracking, active strategy improvement, and disciplined risk management, you can join the ranks of successful forex traders.

Is forex trading? This question might seem odd to those already familiar with it but in reality, it is a question many people have. The phrase ‘forex trading’ is often thrown around in discussions related to investments and money-making opportunities, but what does it truly mean? Does it have any significance for the common individual or it something that should only concern finance professionals? We will explore these questions over the course of this article.

Forex, in its simplest form, is short for ‘foreign exchange’. This alludes to the global marketplace for buying, trading, and selling currencies. What makes forex trading stand out is that unlike other markets where trading happens at a centralized location, forex trading takes place electronically over-the-counter. This means that trades are conducted via a network of computers rather than on one centralized exchange.

Forex trading can be attractive for multiple reasons. First, it runs around the clock, five days a week. This allows traders to buy and sell currencies at any time, day or night, despite geographical location. This overcomes one of the most significant hurdles in other types of trading where trading opportunities could be limited by temporal restrictions. Second, the forex market is the largest and most liquid market in the world, with daily trading volumes exceeding $5 trillion.

The role of a forex currency trader is crucial in this vast ecosystem. They are the backbone of the currency markets, keeping an eye on currency fluctuations, identifying trading opportunities and making strategic decisions based on these insights. While some traders prefer operating on their own, others work for investment banks, trading firms, or money management firms. The intricate understanding of market trends, economics, and geopolitics makes them worthy contenders in this high-stakes financial arena.

However, it’s crucial to understand that forex trading is not a guaranteed way to generate a tremendous amount of money overnight. Much like any other forms of trading, it involves risks. Asset prices can increase as well as decrease over time, which might lead to losses if the market doesn’t move as anticipated.

Forex trading also commands a certain degree of knowledge and understanding about financial markets and global economics. For instance, a trader should understand the factors that impact currency prices, such as inflation rates, national banks’ interest rates, and national economic health indicators. A lack of understanding about these aspects could make forex trading a risky endeavor.

Moreover, the landscape of forex trading is comprised of a wide variety of traders, from professionals working for global financial institutions to independent traders charting their own course. This dynamic mix adds a level of complexity and unpredictability, emphasizing the need for a sound strategy and clear-cut goals.

In conclusion, the question ‘Is forex trading?’ can be answered by acknowledging that it is indeed a form of trading and an essential cog in the wheel of global finance. With the help of a forex currency trader, be it an individual or a professional from a company, currencies are bought and sold on the forex market, powering transactions that underpin the global economy.

If you plan to embark on a journey as a forex currency trader, you must understand the nuances of the market, always keeping abreast with current trends and economic pointers. Armed with the right knowledge, tools, and strategy, forex trading could become a valuable facet in your arsenal of investment options.

Automated forex trading systems have resulted in this type of trading becoming commonplace. What was once the sole domain of banks and other such large investors, financial and otherwise, is now luring small and mid level investors. For inter-country currency trading, this is the place to invest. This is one of the biggest and most alive financial markets with trillions of dollars being traded round the clock, every day of the week.The advent of internet and advance communication technologies coupled with automated forex trading systems, today anyone can join in the trading provided he has a computer with an internet connection, a forex brokerage account and good knowledge of how trading works. However to remain on top, it requires constant monitoring as global markets are open round the clock. With the help of these automated systems, you can pick up a currency, it’s asking and selling price ahead of any buying. You need an amount as seed money and a broker then your buy and sell orders will be acted upon straight away.The automatic forex trading systems can help you reap the profits of the market despite the fact that you are not a professional trader. When managed accounts use the automated trading systems, the program can easily manage everything for you. Any dependable trading platform helps you to save valuable time, since you no longer do the trading manually. Unlike manual trading the auto trading platforms can help you manage more than one account at the simultaneously. These trading programs allow you to play in any number of markets trading multiple systems.The auto forex trading system allows you the flexibility of trading at any time without your presence. Even when you are absent from your computer, you can not miss a single trade. You are then free to use the various forex strategies and multiple systems. Different trade factors impact different systems; you can therefore direct your investments and control risks.To eradicate human emotions which often come in the way of making logical trading decisions, these automated forex trading systems are indispensable. It is possible now to manage and monitor several currency pairs and trade them when it suits you.Even when you start using an automated forex trading system, you have to allow time to learn about trading of technical analysis and market indicators, otherwise, you can not make consistent profits. Even if you use the top-end automated systems, there is no guarantee of success as the forex market is guided by a number of factors and variables. The automated forex trading system is not purely mechanical; you can program it to suit your individual needs.

Reasons for loss in forex trading

by

Jacksons Freeman

Forex trading is a very risky and interesting business. People may get a lot profit or some may lose everything in this business. There are many different reasons about the loss in forex trading. Here we will be discussing about them which will help the people to get aware and can also help them to get good advice.

Stay away from the frauds and the culprits and be aware of them. Do not pay attention on the opportunities that sound too good like get rich overnight, these are the frauds. Avoid any company that predicts no financial risk and guarantee large profits. Such type companies are fraud. You have to avoid such suggestions; instead you can have the advice for some forex expert like the forex Trading signals

. They just provide you the scenario and do not force you to make the decision.

The lack of discipline is also the main reason for the traders to lose. Always remember that a good trader is a good money manager. You have to manage the money and also make a discipline to follow the proper scenario of the exchange market. Keep all the records and make a chart. Make your own strategies and follow it. If you find it not working then read again the changes and update your strategy. Being not disciplines will let you lose your money.

Trading foreign exchange has a high level of risk. You have to trade in the right moment. The success does not depend on the quantity of time you spend; rather it depends on how you trade on the right time. The people lose in trading because of lack of patience. Patience is required for the success, you have to wait for the right opportunities and then hit hard at the right time.

Do not think that with any loss that its over now. But think that is the beginning. Every day you will learn new things and strategies related to the Forex alerts

. You have to keep track to all these things and you will find success soon. Always keep in mind that slow and steady wins the race. Never gets greedy and do not demand more, just play with small amount but keep your knowledge updated every day.

Forex signals -The Best Way to Income Forex trading signals is known to be the best unifying aspect and a popular factor in forex trading. Forex trading signals offer as a trader\’s being power in the forex market.

Article Source:

ArticleRich.com

Submitted by: Joseph Rockey

When you hear market manipulation you may think is some big player like Goldman Sachs running a high frequency program or maybe a government trying to push their currency in their favor, but in the forex market your worst enemy may be your own forex Broker.

In March of 2006 Meta Quotes Software, the same company that created the most popular currency trading software, the MetaTrader 4, put out a Support Article on their Web Site explaining some of the features of a software your broker can purchase for an extra charge that can potentially manipulate your trades to maximize their profits.

Some of its features include:

=> Delaying customer’s orders by 5 seconds to give the customer the worst possible price.

=> Increase in spreads in order to trigger stops losses.

=> Watching symbols gaps, so stops are activated at the gap price and not at the client’s requested prices.

=> Disabling, setting, modifying or deleting pending orders during news times.

=> Automating the move of spread, limited and stop levels ahead of news event.

=> Reduce the leverage to force the liquidation of the largest positions of their customers.

=> And more…

MetaTrader is the world’s preferred Forex trading platform. According to some estimates more than 70% of all brokers offer the Metatrader platform and more than 90% of the total retail Forex volume is executed through it.

The name of this software is the “Virtual Dealer Plug-in”, this plug-in can be used to manipulate Stocks, CDFS, Gold, Futures and basically any other instrument your broker offers.

Now we will explain some of the plug-in features in more detail. When you ask MetaTrader for a Market order you would expect to get the current price as displayed on your terminal, but when the plug-in is running your order can be delayed up to 5 seconds, during the imposed delay, your broker will analyze the prices and it will try to give you the worst possible price, so the broker can pocket the difference, it could be just 1 or 2 pips or as high as 10 or 15 pips and if the price moves in your favor the broker can re-quote the price several times until it moves their way.

Not only you could get the worst possible price when you open a position, the broker can also manipulate the price feed to trigger your stop loss, and when you try to close a position the plug-in will try to split the price in the broker’s favor but never in the customers favor. These manipulations go usually unnoticed and if you ask your broker about it they will always blame it on the market, connection issues or other factors that are hard to corroborate.

We had an account that had been opened for several months and had a balance of around 8K USD, we had been trading a successful strategy from this account for the first three months, but then we started to notice re-quotes on almost every trade and other strange activity, we decided to open a new account with the same broker so we could compare the spread, executions times, re-quotes, profit and losses etc.

We opened a position on both accounts at the exact same time, and just on our first trade we noticed that the new account closed with a 15 pip profit while the same position on the existing account was re-quoted several times until it finally closed with a 5 pip loss. On other trades there were spread variations of 5-30 pips between accounts, which caused many positions to reach the stop loss while on the new account the same trades closed with a profit.

We repeated the process on different days with numerous trade combinations and obtained very similar results. These discrepancies were also clear when visually comparing charts side by side.

At the end of the first month our newly opened account had a profit of 181 pips while our old account had a loss of -46 pips while executing identical trades. By the third month both accounts started to perform the same way and at this point it became virtually impossible to make any profitable trades.

We confronted our broker with the facts and after some time of discussion they finally admitted that it was standard practice for most Forex brokers to run the virtual dealer plug-in. We of course closed our accounts immediately.

During an audit in July 2009 the NFA discovered that Gain Capital (aka: forex.com) was using the virtual dealer plugin to manipulate trades that benefited Gain to the detriment of its customers.

You can read the official NFA document below:

http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=2461

You can find more information about the virtual dealer plugin by reading the official PDF document at the url below:

http://bit.ly/dYQquR

About the Author: Full time Metatrader developer, programer, forex trader and marketing directorCustomizable

4xtrader.net/

for Metatrader.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=689525&ca=Finances

Investing in bitcoins is a sage thing because it is one of the best forms of digital currency. But how should one begin with it? Bitcoin had its first release on 9th January 2009. It is in use way more than other cryptocurrencies. It is highly famous also because it was the primary form of cryptocurrency. According to a study, there are more than 100 million bitcoin users in the world. The USA has the highest number of bitcoins, with an estimated 2625 nodes. And it also has some of the best bitcoin trading software platforms. So, here are the five best bitcoin trading softwareplatforms:

Coinbase

• Headquarters: San Francisco, California, USA

The world’s largest bitcoin broker, Coinbase, is one of the most popular bitcoin trading software platforms. Since its release in 2012, it has over 13.3 million users and has served in more than 190 countries worldwide. Brian Armstrong is the founder of this US-based company. It has also successfully traded more than $150 billion. This company only charges 1.49% percent of the taking fee from the bank/coinbase wallet. It is mainly famous for the high level of Security it offers like Multi-Factor Authentication. Following are a few of the many advantages of Coinbase:

• No fees for withdrawal of money for digital assets
• It supports online and wallet services
• Also has a lot of payment options
• For security purposes, it keeps only 2% of its transactions online, and the rest 98% is offline.
• Very easy and user-friendly

Other than bitcoin, Coinbase also supports other forms of currencies like Bitcoin Cash.

Kraken

• Headquarters: San Francisco, California, USA

Kraken is a US-based bitcoin trading software platform founded in 2011 by Paywand, Inc. It has more than 4 million users. Other than the USA, this company also supports Canada, Japan, and most European countries. It just charges 0.26% of the amount to the taker. Users choose Kraken because it is highly trusted. For a long time, it has maintained its spot in the top 10 bitcoin exchange companies. This company has different tiers of Security for retaining the user’s privacy. Here are several advantages of advancing in Kraken:

• It allows for leveraged trading. This is a big plus point because it will enable you to make way more money than usual when the prices rise
• Overall low fees as compared to other companies
• Supports fiat currency
• High Security, safe to use
• Helps a lot of different currencies

Not only bitcoin, but Kraken also supports other currencies like Bitcoin Cash, ZCash, Dash, Melon, etc.

Bittrex

• Headquarters: Seattle, Washington, USA

Bittrex is one of the best bitcoin trading software platforms. Bill Shahara is the founder of Bittrex. Since the year it was founded, 2013, Bittrex is primarily known for its Security. It keeps 80-90% of its transactions online, and all the rest offline. It maintains a record of never losing any customer funds. Bittrex charges 0.25% on trades, but the best part is that it is flat, for all amounts. It also offers its services worldwide except for some countries. Bittrex has a decently fair trade volume. Because of all these facts, it is considered a very safe and reliable platform for bitcoin trade. Here are some advantages of investing in Bittrex:

• It has never been hacked, nor has it ever faced any security breach
• Highly secure yet straightforward verification process. Solely you oblige to do is begin the essential information. Bittrex uses Jumio, which has more than 100 million people verified from over 200 countries. Therefore, it only requires your following information.
• It is swift

Gemini

• Headquarters: New York, USA

Gemini is a bitcoin trading software platform founded in 2014 by the Winklevoss brothers. It became the first licensed Ether exchange company in 2015. After that, it operated on to enhance the first licensed Zcash company in 2018. With the USA, Gemini also serves in countries like the UK, South Korea, Canada, Hong Kong, etc. Also, the digital assets of this company are secured by using Amazon Web Services. Gemini is very popular among high-volume and severe investors. It is known for having on and off-ramp for cryptocurrency exchanges, thus, increasing its Security. In Gemini, to buy and sell, they use fiat currency. Moving forward, here are the advantages of investing in Gemini:

• Low taker fees and a very technical but easy UI
• Registration is free of cost, and it has one of the biggest bitcoin wallets

With bitcoin, Gemini also supports other forms of digital currencies like Bitcoin Cash, Zcash, etc.

CEX.IO

• Headquarters: London, United Kingdom

CEX.IO is a UK-based bitcoin trading software platform founded in 2013 by Oleksander Lutskevich. CEX.IO is also among the first platforms to make fiat to cryptocurrency trade available. It is currently one of the most popular bitcoin exchanges in the world. It has a 0.25% fee. This company is considered very trustworthy because of its high Security. CEX.IO also offers its services in the USA. It is deemed highly reliable because it provides a level 2 DSS certificate. So, here are the advantages of investing in this bitcoin exchange:

• A beneficial customer service: If you encounter a problem, you can mail them or check the how-to section
• Easy to navigate, user-friendly interface
• It is also a registered company in the USA with FinCEN as a money service business.

Other than bitcoin, it also supports Ripple, Bitcoin Cash, Tron, etc.

Conclusion

Its value keeps increasing, and bitcoin is of very high importance. It is one of the best digital currencies you should invest in for profit. As of today, one bitcoin equals to USD 9,101. Mining a Bitcoin is easy. It just takes 10 minutes to mine a bitcoin. Bitcoins are a very safe alternative to regular currency. It is highly trusted as it has been in the market for a long time. Investing in bitcoins should also be done carefully. So, these were the five best bitcoin trading software platforms in 2020.