TradeForex.NG has its roots in education.
We provide many articles on Forex education, Forex strategies and different types of Forex analysis.
In this category we cover topics like hedging, scalping as well as different types of Forex terminology. Here we also answer questions like the best time to trade forex, what CFD trading is and what a pip is.
Before moving on to how to choose a broker, how about starting first with the basics and understanding what is Forex?
At TradeForex.NG we seek to share insightful articles that traders can learn from before investing capital, and during their trading journey.
Our education articles will help you on your way to successful trading.
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 will explain what are the Major, Minor, Crosses and Exotic currency pairs. After reading this article you will be able to understand the difference between all categories and how to approach them when an opportunity arises. Forex Majors Forex majors…
In financial trading almost every trader uses some kind of technical indicator for market prediction or to validate his/her trade decisions. There are hundreds of indicators for predicting early market movement available in different platforms and over the internet based on different strategies and mathematical calculations. Now the problem is most of them are lagging indicators, meaning they generate a Buy or Sell signal when the market is already moving…
Understanding the Long and Short Positions in Forex For novice traders, terms used in the Forex market may be confusing. Hence the significance of understanding Forex terminologies and what they represent. Today we’ll be dealing with long and short positions. As you know, trading currencies involve buying one currency while simultaneously selling another. Therefore, traders take either long or short positions in the market. These positions are discussed below; What…
A trading plan is a set of rules and guidelines that shape and define your trading decisions & behavior, including but not limited to: financial goals, money management rules, risk management techniques and criteria for opening and closing positions. Due to lack of education a large number of traders have never used a trading plan and that’s one of the reasons that many of them end up in a loss….
Drawdown in Forex is defined as the difference between balance and equity from peak to trough. Keeping the drawdown as low as possible is a part of risk management. Higher drawdown means higher risk and high probability of wiping the account. It is recommended that in order to avoid high drawdown a trader must use a stop loss or low lot size, or low leverage. Drawdown shows the maximum risk…
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. Not having a trading plan is one other major drawback but today’s focus is on risk management and in coming articles we will cover trading plans for our readers. How Much…
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 majorly involves using technical indicators to determine the probability of price moving in a certain direction. The indicators apply mathematical formula whose calculations are based on price. Technical Indicators can either be lagging or leading indicators. Lagging indicators follow price movement and…
In Forex trading, fast access to information is important. This is because it enables traders to make informed decisions when placing orders. Having the orders executed quickly influences profitability hence a low latency connection is key. This is why there’s an importance of latency when trading. What is Latency? Latency is the time taken (in milliseconds) for an order to be sent from your trading platform to the broker…
Perhaps you’ve already learned everything in our Forex education section and become somewhat of an expert Forex trader, or you’ve started thinking that this might not be the thing for you and instead are considering other options of how to earn more money, but in a passive way that doesn’t require trading on your own all day. And perhaps you are already using one of the best Forex brokers in Nigeria…
There are numerous currencies traded in the Forex market but not all are traded as frequently as others. Some currencies are more liquid and this larger volume of traded currencies boost the chance of profiting. As a trader, you should know the most traded ones to help in your decision-making. In this article, we will discuss the eight major currencies in Forex. What are Major Currencies in Forex? “Major…