I trust everyone had a good day off yesterday and voted for their party of choice! Elections seem to have slightly strengthened the ZAR with the news of certain parties taking control in certain parts of South Africa.
A good day for Dean yesterday after he chose two FX pairs to have a careful look at. He was looking at shorts in the AUSUSD and longs in the USDCAD. Both yielded about 60 pips and a good start to the trading week.
The Forex or Binary Options debate continues as traders ponder to which is best. Is or will there ever be a definite answer? Realistically it comes down to a simple question such as what your favorite color is.
One of the many reasons that FX traders do not achieve success on their trading accounts is due the costs they are paying for trading. Different FX brokers have a range of ways to charge clients for using their services and it is a great idea to see how these could be affecting your profitability.
We all know the feeling of fear. It could be the fear of losing money, not making back that money, making the wrong choices while trading or even missing trading opportunities.
Trading Emotions can be a trade killer to many but to those who can control it has the upper edge. Emotions while trading Forex or any other form of trading is something you cannot avoid.
‘Forex’ or ‘FX’, an acronym of Foreign Exchange, is simultaneously buying one currency while selling another based on market analysis, news and overall market sentiment.
The Forex Market is the largest market in the world, with daily volume of over $4 trillion USD.
Carefully would be my advice! All too often traders get sucked into the news and event story (Brexit) and end up coming out the other end battered, bruised and a little lighter in the wallet.