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Managing your entry and exit points

To start with, it is supposed that before you enter an open position , you should have beforehand drawn out a trading plan with a well mapped out strategy which should provide for points where you should place potential entry and exit points; all this prior to placing the order for the trade. Surely

How GDP affects prices in the forex

In this post I am going to explain what the gross product is and what influence it has in the forex market as regards moving the prices of currencies. Although a lot of traders these days are beginning to look down on the power of fundamental analysis as they doubt what how well the news could

What is a Lot

In the forex market, a Lot is the least available trade size which you are allowed to place when trading the Forex market. In normal conditions, brokers will view lots by an increase of 1000 or a micro lot. It is vital to know that lot size have a direct effect on the risk which you would be taking

What is Spread in Forex

Now let us take a look at what a spread is. The spread is the difference between the sell (also called ask) price and the buy (also called bid) price. Two prices are given for a currency pair . The spread stands for the difference between what your broker is willing to give to buy from you the

How to avoid slippage

Slippage is simply the difference in pips between the order price and the execution price for a particular trade. Slippage is a problem in all financial markets. And in the forex where traders enjoy fairly small profits on the average trade, slippage could wipe off all the gains you make for one

How to avoid slippage

What is hedging in forex

Simply put, hedging is coming up wit h means to protect yourself against a large loss. A hedge can be seen as an insurance on your trade. Hedging would help you to reduce the amount of loss you could suffer if something you don't expect happens to your trade. Direct hedges enable you to place a

What do you know about The Multiple Time Frame Analysis

As regards forming strategies , the forex trader has to decide on which market condition they decide to base their strategy on. Also they would also choose the timeframes they want to investigate or anlayse and possibly carry out the execution of their trades on. The multiple time frame analysis is