You may have a lot of invaluable information about forex market and forex trading that can be shared with the others, no matter if you are a professional and profitable trader, or you are a beginner who is still trying to learn and improve. Read the rest of this entry »

Each trader needs to have several instances of MT4 working on his/her computer at the same time. At least one MT4 which is connected to a demo account, for analyzing the market, trying different indicators, trading systems, templates and… and one MT4 for the live account. Read the rest of this entry »

MACD is one of the most reliable indicators. Although I do not believe in using indicators in my own trading and I always use the price candlestick chart to find the trade setups, I look at MACD direction when I find a signal on the price chart. So I use MACD as a confirmation and it really works for me. Read the rest of this entry »

It is said that forex traders lose mainly because of their emotions. If you ask about the emotions that are the cause of forex traders losses, you hear the two words, fear and greed, more than any other word. When you try and lose, you may ask yourself what your problem is? Are you losing because of your fear, or it is your greed that makes you lose? Or you lose because of not having enough knowledge and experience in forex trading? Read the rest of this entry »

GBP JPY denotes currency pair British Pound & Japanese Yen. This pair is referred as “Sterling Yen” by traders. This shorthand detail or notation makes use of the ISO 4217 standard codes to indicate the foreign exchange rate of the United Kingdom’s Pound Sterling versus Japanese Yen. Read the rest of this entry »

NZD is a currency abbreviation for New Zealand dollar; it is an ISO 4217 and carries numeric representation 554. It is the officially certified national tender used by public within New Zealand, Pitcairn islands, Tokelau, Niue, and the Cook Islands. It belongs amongst major currencies and enjoys a special weight age amongst the dollar-dominated currencies of the world that fall in the major category. NZD or New Zealand Dollar is commonly and frequently referred to as “kiwi”. Read the rest of this entry »

The Canadian dollar popularly known amongst traders as well as non-traders as CAD, is signified by $; It is the official and government certified currency pertaining to Canada. It’s also called by a slang name - buck, just like Americans call their dollar by the same name. Later on in around 1996, as two dollar coin was introduced in the economy the French slang Loonie also became a popular term for Canadian currency. Read the rest of this entry »

European Central Bank also referred to as ECB globally is the central bank for official currency of Europe, the EURO. As of current year i.e. 2011; total 17 European Union member states have adopted the currency - Euro. The ECB’s most important function is to uphold the euro’s purchasing supremacy which in turn will help retention of steady price in the areas where euro is an officially circulating mode of exchange or tender. Read the rest of this entry »

AUD USD is an acronym that stands for or denotes one of the major currency trading pairs - Australian dollar and U.S. dollar currency pair. This currency pair is also called currency cross because it’s a derivative of currencies AUD and USD respectively. And it is also often called by the name Commodity Currency too. The reason is that Australian economy is highly influenced and dominated by commodity. Read the rest of this entry »

Demo trading is a good way of starting the trading business. It helps the novice traders develop their skills and learn the trading system they choose. Demo trading is like the flight simulator for pilots. While everything is tried to be the same as the real work, there are some differences naturally. Read the rest of this entry »