Economic Calendars Allow Forex Traders to Get the Winning Edge
The Forex market is all about being able to predict the movements of currency exchange rates, between the 2 currencies or currency pairs that you choose. The economic events across the world make the markets fluctuate every day. Seasoned traders are able to evaluate the economic events by using some analytical tools and graphs, and forecast the future currency movements.Know More About Forex
Foreign exchange or Forex is the world’s most traded market with an average turnover of more than US $4 trillion per day. It is the place where currencies are exchanged to facilitate foreign trade and business. For instance, if you are living in India and want to buy cheese from France, then you have to exchange Indian currency (Indian rupee, INR) for euros (EUR).How To Think Like A Professional Trader And Succeed In The Long Term
Here is how most amateur traders think when entering Forex trading: I will invest smartly in the right exchanges – Pounce on the right opportunities – Hit jackpot on a few trades and become a millionaire. Unfortunately, this is not how it works in the real world. If you look at the real rock-star traders in the market today, you will find that they have been working in the industry for more than a decade. They didn’t succeed overnight on the basis of a few genius moves…How to Beat the Majority of Forex Traders and Come Out on Top
They say only 10% of Forex traders make sustainable profits. The actual number may be even less. The problem for many in the Forex market is that there is simply too much competition.Opening a Forex Trading Account: Live Vs Demo Trading Account
After selecting the best Forex trader, you will need to open either a Live or Demo Forex trading account with them. The process is easy and involves choosing an account type, registering and activating the account. Most experts and professional Forex traders usually advise novice Forex traders to first open a demo account before moving on to live accounts.