Thread: Useful Daily Forex Articles

The Pros and Cons of a Forex Demo Account


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Many amateur traders these days are advised by brokers and pros to prepare themselves and practice their skill on a demo account before getting into the mainstream trade. A demo Forex account is a sort of an indirect 'virtual training program' where you get to practice your trading skills, in a completely risk free atmosphere, only to get you familiar with the factors that a successful trading demands and to help you develop some basic strategies.


Traders over the time have had much divided opinions about its applications. Some consider it a good start, while others think of it as a waste of time. So in order to help you choose whether or not you should get involved in the trading process of a demo account, below are some major pros and cons of this virtual trade:


Major Weighty Advantages of a Demo Account:


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In Trading, Less is more


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We can witness the rise and fall in markets commonly. It is crucial in some ways, but it may also result in excessive loss of money if we try to trade everything.


There are some errors quite common like trading intra-day price variations or withdrawing a cost-effective trade simply because the market started retracing against your situation. These kind of faults result because of giving unnecessary importance and effort to the regular price variations in a market.


It is well known that less is more in trading. We can emphasize on the importance of this fact by notifying few key points about market dynamics, price action and how not to react at every fluctuation in the market.


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And you thought it was just Gambling with Suits


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If you were presented with a person that is engaged in an activity that can either indulge him or her with buckets of riches or complete loss of belongings your instant guess on what the activity is would be gambling. That is usually the image portrayed when someone outside the online trading industry hears how the forex world works, however this is not the case. Sure, gamblers and traders may share some very striking characteristics but their core difference is analysis.


One of the things that gambling and forex trading have in common is the way the foreign exchange or stock market works in relation to poker table. What drives both people to these two area is ideally the opportunity to earn money, and usually a small amount of money is barely enough, if you’re in it you are in to win big or else you should pack up before you even get started. Even the procedures can be related to each other, in a casino filled with countless tables the gambler will choose the one that feels right to him. The same way a trader will choose the right broker after going through a stunning number of prospective brokers in order to settle on one.


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Learning Currency Trading – Part 10: EUR/CHF


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The symbol stands for Euro/Swiss Franc. It tells the reader about the number of Swiss Franc that one needs to have in order to buy one Euro. The Euro in this case is the base currency, while the Swiss Franc is the counter currency.


Facts and Information
To anyone new to the world of forex, the EUR/CHF currency pair might seem to be confusing. This relationship is often regarded as one of the most important currency relationships in the forex market. The reason lies in the fact that the EUR and CHF share a relationship which is the strongest in the market.


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Top 5 Habits of Unstoppable Traders


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To become a professional and successful trader, you don’t only have to possess the knowledge, be patient and have a game plan but a positive attitude towards your work and a certain protocol are also essential. Obviously every trader is different and has different qualities but there are a couple of habits and traits that are in common in those professional traders that you must have to become an unstoppable trader.


The following are 5 behaviours and traits that big-time traders share, and if you are able to follow these, there’s nothing much out there that can stop you from becoming like one of these traders.


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How Effective is an Automated Forex Trading Software?

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You too, like many others must have found yourself scrolling on a page advertising these terms, for any automated forex trading system. Haven't you? I know you have. So, the pipe dream being offered must have gone something like this, “If you log on to our system, you will reach the heights of profit without even moving a single finger." Didn't it? And it sounded tempting right? But the real question is, is it really that good under the surface too? Well, a little underground digging as we do it, might surface a whole clan of epidemics that will surely repel you away from the offer that seemed too alluring just a while ago.


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How to Trade Successfully with Small Trading Accounts

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Every experienced trader knows that profit has to be measured over a longer period of time, whereas, a novice trader believes that the bigger the trading account: the more money.

The fact of the matter is; if you don't know what you're doing then your account balance won't matter because you'll lose it all anyway. A good trader can make a big profit on any account whether big or small.

Trading can be quite tricky at times and you might find yourself wondering how you went wrong with the most basic of all things because you don't have the proper strategy in mind. Having a lot of money in hand and no trading experience is as good as having no money at all.

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Stop Repeating the Same Forex Trading Mistakes

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This is probably the most important article regarding trading because this is where you'll learn how to achieve the goal: making money. Now, this might not be what you were expecting to read about because it won't necessarily be 'fun'. However, if you follow through on these tips, you'd assuredly get maximum profits.

When it comes to trading, you need to do what is best (generally) not what you think is best. Trade isn't 'the wheel of fortune' where you might go big or you might go home. Here, you can either go big if you have a good mindset or you'll go home.

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Advantages of Trading with ECN Brokers

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The Electronic Communications Network is regarded as one of the ways of trading in the future. Most people who trade in the Forex market often have difficulty in making the right trades because of the delay between placing an order and the actual execution. The Electronic Communications Network was designed to facilitate seamless trading between traders. In simple terms, the Electronic Communications Network is designed to create a link between brokers, high liquidity providers and small scale traders.

The Electronic Communications Network is regarded by many as one of the best ways of trading in the forex market. If you are interested in trading in the forex market, you should seriously consider signing up with a broker that offers ECN trading. The concept of trading on the Electronic Communications Network is simple. The broker first asks the high liquidity providers for liquidity. Once the broker has liquidity for small market participants, this is passed on down to the small market participants. Then, when a small market participant places an order, the order is passed on down to the forex market.

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Trading Forex for a Living - What You Must Practice

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To become a trader, you need to have the knowledge, trading strategy, understanding of market and charts and etc. Now these are the necessary things that you need to have in order to become a trader, but to become an expert at what you do, you need to have a little more than that.

Let’s discuss five of the most important things you must possess if you ever hope to be able to make a living as a trader.

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