Axiory is now offering a 100% withdrawable bonus. The bonus is designed to help kickstart your trading and give you more opportunities to earn money on the forex market. Read on to find out more. Your New Forex Bonus You can make up to $2000 in trading credit and you can accumulate that over multiple deposits. You then can convert up to $1000 into your balance and withdraw them after having traded a certain amount of volume and closed a certain number of lots. What You Can Trade You can use the bonus to trade forex, metals, energies, indices, and…
Author: Kent
Kent
Kent has been working in the FX industry since 2012, and has become a successful, experienced forex expert. He is a regular contributor to our website and provides exclusive insights into the financial markets.
In case you didn’t know, forex is the most traded product in online trading today. In this article we are going to briefly discuss the main forex pair categories. We are going to help you learn about major, minor, crosses and exotic currency pairs. We are also going to help you understand the difference between the different forex pair categories and how to approach them when an opportunity arises. Forex Majors Forex majors are USD denominated currency pairs, high value global currencies such as EUR, GBP, JPY, CAD, CHF, AUD, NZD where USD is at one side as a base…
Traders use forex signals to find new, profitable trading opportunities. Forex signals are normally provided by forex brokers or forex analysts. Normally, they will monitor and analyse the forex market to identify trends, entry points, profit taking points, and stop losses. This information is then made into a trading signal and to traders via email, SMS or social media channels. The traders then review the forex signal and decide whether to use it. Forex signals can be a huge help to new traders who are still getting used to the markets, and also to part-time traders who do not have…
Forex traders analyse the market using either technical analysis or fundamental analysis. Technical analysis involves studying historical price movements while fundamental analysis involves studying news events. Technical analysis mostly involves using technical indicators to determine the probability of a price moving in a certain direction. The indicators apply mathematical formula where the calculations are based on price. Technical Indicators can either be lagging or leading indicators. Lagging indicators follow price movement and provide signals after the trend has already begun. Examples are Moving Averages and Bollinger Bands. Leading indicators, on the other hand, can be used to forecast price movement…
There are different ways to analyse price movement in the Forex market. Technical analysis is one way to do it. It involves studying the historical price movement to determine the probable future price movement. Line charts, bar charts, and candlestick charts are applied in technical analysis. They help in showing price fluctuations across different time frames. One very popular chart is the candlestick chart. What is a Japanese Candlestick Chart? Japanese candlestick charting was used back in the 18th century by a rice trader called Munehisa Homma to trade Japan’s financial instruments. Steve Nison later introduced Japanese candlesticks to western…
Risk management is one of the most discussed topics in financial trading. Most traders end up with an unsuccessful trading journey because they have never studied what risk management is and how to implement it in their trading plan. Today we’ll cover some basic risk management techniques. How Much Should You Risk? In simple terms, you should not risk more than 1% of your balance on a single trade, and you should not risk more than 3% of your total balance on all open positions at a time. Let’s say you have a $1000 balance in your account. One percent…
Access to the forex market is important to forex traders. With billions of transactions done daily in the market, opportunities to make profits are immense. This is where trading platforms come in. Trading platforms are what gives traders access to the forex market. They are where you do your research, plan your trades, and execute your trading strategy. The most commonly used trading platforms are Metatrader 4 (MT4) and Metatrader 5 (MT5). Today, we are going to be taking a look at Metatrader 5. What is MT5? Launched in 2010, Metatrader 5’s purpose is to provide traders access to the…
There’s a lot to learn when it comes to trading, and all the complicated terminology certainly doesn’t help. Here are a few essentials to help you get started. Pips You might have noticed that currency pairs are usually shown to four decimal places. The pip is the 4th digit shown. So, if the price goes up by 0.0001 then the price has gone up 1 pip. The only time this doesn’t apply is for the Japanese yen (JPY), where the pip is the 2nd digit. Lots A lot represents the volume of currency being traded. One lot is equal to…
In order to open a position, you need to place a trading order on a trading platform. The trading order tells your broker what you want to trade and at what price. It also tells the broker how and when you want to execute the trade. In this article, we’ll look at the different types of trading orders and how to use them when trading. Types of Trading Orders There are many different orders you can choose from, depending on your platform and on your forex broker. These eight orders fall into two main categories. Market orders: An order to…
There are many strategies you can use to trade the Forex market. One strategy is to use Forex chart patterns that regularly occur in the market. These patterns show can you which direction the price may be going in. Some of these Forex patterns are: Double Top This is a pattern that forms after an uptrend. The tops are formed when the price reaches a certain level and can’t rise any higher. When the price reaches that level, it drops a little and then rises again to test the original level where it couldn’t move higher. If the price does…