All about Fibonacci Retracements and Fibonacci Ratios

All about Fibonacci Retracements and Fibonacci Ratios

Fibonacci retracements are a common tool among traders and are based on the Fibonacci series identified in the 13th century by the famous Leonardo Fibonacci. The Fibonacci sequence is a set of numbers that is also related to nature, and also called the golden ratio. A Fibonacci retracement tool is used by technical analysts as a guide to the behavior of the market. Traders use the tool for identification of resistance levels, drawing support lines setting target prices, and placing stop-loss orders. During a technical analysis, Fibonacci retracement is done by picking a different extreme point on the stock chart, Continue Reading →

Realistic Goals for a Forex Trader

Realistic Goals for a Forex Trader

When one gets into a business, they have a focus and goal at the end of it all. These goals should be realistic in that they can be achieved when one focuses on them. Something realistic is something real, something practical, and has ever been achieved in the past. Six Realistic Goals for A Forex Trader A forex trader could also have realistic goals in that they aim to get a realistic profit, some real knowledge out of it, and to do real business as well. Below are six realistic goals that a forex trader could set to achieve. Do Continue Reading →

Understanding the different classes of traders

Understanding the different classes of traders

In the Forex market, there are different types of Forex Traders who apply different types of techniques for trading. They develop different types of plans to fulfill their goals. People first need to find out which types will suit most. Based on the style, the traders will able to make their strategy. So, the person needs to know about every style to know which will increase the probability of success for him or her. These are being discussed here. Quick Scalper Mostly the beginner select scalping as they do not need so much experience in trading. In this style, the Continue Reading →

How to trade the trend line with the high level of accuracy

The trend is your friend, a well-known proverb in the Forex market. The professional traders always suggest the new traders to trade with the market trend. If you place a trade with the trend, you can reduce your risk exposure significantly. The novice traders don’t want to follow this simple rule and as a result of this, most of them blow their trading account. You might be thinking how to trade with the market trend with a high level of accuracy. There are some certain steps that you need to follow to become a professional trend trader. Things might seem Continue Reading →

How to become a professional price action trader

Forex market is extremely volatile in nature. If you make a small mistake you have to pay heavily. Many novice traders have blown their trading account due to poor risk management. Becoming a successful trader in the online trading industry is a very big challenge. You have to develop a simple trading system which will help you to become successful at currency trading profession. Price action trading strategy is often considered to be the best way to trade the Forex market. But mastering the art of price action trading system is not so easy. The novice traders often say it’s Continue Reading →