Author: Kent

Slippage occurs when the expected price of an order is different from the price at which the order was filled. Slippage is a normal occurrence during forex trades, and can either be positive or negative. Let’s take a closer look below. The Definition of Slippage In the forex market, buy orders are matched with sell orders. An imbalance in terms of buyers, sellers, and prices will result in slippage. Slippage is likely to occur when there is an imbalance in the market. Moreover, slippage is influenced by factors such as major news events and execution speeds of orders. News events…

Forex trading has become increasingly popular in recent years. In fact, Nigeria is now the second largest retail online forex market in Africa. According to some estimates, the country has at least  200,000 daily forex traders, with numbers continuing to grow each year. But is forex trading in Nigeria profitable? In this article, we look at some of the reasons why it is becoming so popular in Nigeria and what the local market has to offer. Why is forex trading popular in Nigeria? Forex trading involves buying and selling of currencies. Forex traders seek to profit from fluctuations in the…

On the forex market, currencies are quoted in pairs. For example, EUR/USD. The first currency is known as the base currency while the second currency is the quote currency. When you buy a currency pair, it means that you have bought the base currency and sold the quote currency. On the other hand, selling a currency pair means that you have sold the base currency and bought the quote currency. Base Currency This is the currency listed first. The price of a currency pair represents the amount of quote currency needed to buy 1 unit of the base currency. For…

As the largest financial market in the world peaking at 6.6 trillion USD a day, it’s no wonder the spotlight often falls on top forex traders. With high volatility – particularly during recent days with the global Covid-19 pandemic in full swing – and four main trading sessions to focus on, it’s worth paying attention to exemplary investment acumen and risk management. Learning the strategies of others who have successfully navigated the markets can enhance your own approach. So, here’s a rundown of well-known and most successful Forex traders who have made clever moves during their time. George Soros Famous…

Most online traders have certain preferences when it comes to the financial markets they invest in. Some may choose to trade the stock market, while others may prefer to trade in the forex market. In order to trade profitably, online traders first need to understand the differences between these financial markets. This will help them understand which market is likely to suit their trading preferences and risk tolerance. It will also help them make better decisions when it comes to implementing their trades. In this article, we’re going to highlight some of the key differences between these two popular financial…

As traders, we all want to be successful. And we all want to start making money as soon as possible. While there are no shortcuts when it comes to trading, there are things that you can to improve your trading decisions and your overall profitability. In fact, one of the easiest things you can do is to try trading signals. And whether you’re new to trading, or if you’re already using one of the best forex brokers in Nigeria, you can still get free access to these helpful little tools. What is a Trading Signal? A trading signal, or a…

What Is An Economic Calendar? An economic calendar is a forex trading tool which includes important financial information like consumer prices index, insurance rates, employment reports, and non-farm payroll numbers. It also includes the purchasing managers index, GDP reports, inflation reports, confidence data, and speeches by central banks. Many forex traders find economic calendars helpful. They use them to track key data releases and market-fluctuating events. By doing so, they can try to anticipate when major movements will take place, choose which forex pairs to focus on, and plan their trades accordingly. Why Are Economic Calendars Important For Forex? Economic…

What’s the difference between a professional trader and a beginner? The ability to read charts and complex chart patterns and identify profit-making opportunities – i.e., know exactly when it’s time to buy assets and when to dump them. A professional trader gets this information from a Japanese candlestick chart made up of individual candlesticks. How a rice merchant helped traders Candlestick patterns are a technical analysis tool used to determine potential price movement based on studying Japanese candlesticks – a graphical representation of market data. The candlestick chart was created by Munehisa Homma, who traded on the Japanese rice exchange…

Cryptocurrency trading can be a lucrative endeavor…if you know what you’re doing. The key to success in trading cryptocurrency is to have a solid strategy in place before you enter the market. With so many different approaches to trading, it can be tough to know where to start. That’s why we’ve put together this list of three proven strategies that you can use to trade cryptocurrency successfully. The first strategy is what’s known as “buy and hold.” This approach involves buying a certain amount of cryptocurrency and then holding onto it for an extended period of time, regardless of what…

In this article, I will introduce the Elliot Wave Theory, named after Ralph Elliot. This theory is used by many forex traders today and it states that the market price moves in cycles. I will explain how this theory works and why it is still relevant in today’s markets. The Elliot Wave Theory is based on the observation that market prices move in cycles. The basic idea is that there are two types of waves: impulsive waves and corrective waves. Impulsive waves move in the direction of the trend, while corrective waves move against the trend. The theory states that…