Forex requires a combination of tools to analyse the market, execute trades, and manage risk effectively. Here are the key tools every trader should use:
Artificial Intelligence (AI) and human traders differ significantly in how they analyse markets, make decisions, and manage risks. AI traders rely on algorithms, machine learning, and vast data processing capabilities to execute trades rapidly and...
Taking breaks is crucial in forex trading because it helps maintain mental clarity, emotional control, and decision-making precision. Forex markets operate 24 hours a day, which can tempt traders to over-trade or stay glued to screens for long hours....
Trend channels, also known as price channels, are a technical analysis tool used to identify trends in financial markets. They are created by drawing parallel lines above and below a trendline, with the trendline representing the overall direction of...
A trading journal is a powerful tool for improving performance, identifying strengths and weaknesses, and maintaining discipline. Here’s how to create one effectively:
Novice traders and professional traders differ in many ways. Novice traders are usually new to trading and lack experience and knowledge about the markets, while professional traders have years of experience and a deep understanding of market trends...
Economic indicators play a critical role in determining currency exchange rates in the foreign exchange market. Economic indicators are statistics that measure different aspects of an economy such as gross domestic product, employment, inflation, and...
When it comes to choosing a forex broker or trading platform, there are several important factors to consider. One of the most critical factors is the reputation and reliability of the broker or platform. You should research the broker's history and...
A rapid market, also known as a volatile market, is a market condition where the prices of currency pairs are fluctuating rapidly, resulting in high levels of price movement and volatility. Rapid markets can have a significant impact on the price of...
Grid trading is a strategy that involves placing buy and sell orders at predefined intervals above and below a set price, creating a "grid" of orders. One major advantage is its ability to profit in sideways or ranging markets. By capitalising on...