Explained for beginners: Forex trade management

Forex trade management is a critical aspect of successful forex trading, involving the monitoring and control of open positions to maximize profits and minimize losses. The process requires a combination of strategies and techniques, including setting stop-loss and take-profit levels, adjusting trade sizes, monitoring market conditions, and managing risk.

Explained for beginners: Protecting your forex trading account

Protecting your forex trading account balance refers to implementing strategies to minimize the risk of losing your trading capital. This is important because the forex market can be highly volatile, and even experienced traders can experience significant losses if they don't manage their risk effectively.

Explained for beginners: forex risks

Forex trading involves a variety of risks that traders need to consider before deciding to invest in the market. Here are some of the most common Forex risks:

Explained for beginners: psychological traps

Forex trading can be an exciting and potentially lucrative activity, but it can also be filled with psychological traps that can catch beginners off guard. Here are some common Forex market psychological traps to be aware of:

Explained for beginners: Forex terms

Forex terms refer to the specific language and vocabulary used in the foreign exchange (Forex) market, which is the largest financial market in the world where currencies are traded. Understanding Forex terms is essential for anyone who wants to participate in Forex trading or follow the market.

Explained for beginners: Forex Trading Tools

Forex trading, also known as foreign exchange trading, involves buying and selling currencies in order to profit from their fluctuations in value. To effectively trade forex, traders utilize a variety of tools to analyze the market, make informed trading decisions, and execute trades. Here are some of the most common tools used in forex trading:

Explained for beginners: Over-the-counter (OTC) trading

Over-the-counter (OTC) trading is a decentralized market where trading is done directly between two parties without the involvement of an exchange. It is also known as off-exchange trading. In contrast to exchange-traded markets, OTC markets are generally less regulated, have lower trading volumes, and involve a greater degree of counterparty risk.

Explained for beginners: the demo account

A demo account is a type of trading account offered by brokers that allows you to practice trading in a risk-free environment. A demo account usually simulates the real trading environment with the same trading platform, tools, charts, and features. However, the difference is that you use virtual money instead of real money to make trades.

Explained for beginners: promotions in forex trading

Forex brokers offer promotions to attract new clients, retain existing ones, and differentiate themselves from their competitors. Promotions can include bonuses, cashback offers, trading competitions, and other incentives that may appeal to traders. By offering promotions, brokers can increase their client base, encourage traders to trade more frequently, and build brand loyalty. The common promotion types including:

Explained for beginners: myths and misconceptions about Forex trading

Forex trading is a popular form of investment, but it is also surrounded by many myths and misconceptions that can cause confusion for traders. Here are some of the most common myths and misconceptions about Forex trading:

Explained for beginners: Why do traders interpret the same chart differently in forex trading?

Traders see the same chart differently in forex trading because everyone has their own unique perspective, experience, and set of beliefs. The way a trader views a chart is shaped by factors such as their trading style, risk tolerance, past experiences, and even their psychological biases.

Explained for beginners: how to detect forex trading scam?

Forex trading scam refers to a fraudulent scheme that is used to manipulate traders into investing in a non-existent or fake currency trading system. The scam is typically run by unscrupulous individuals who claim to be professional forex traders or investment experts, and who promise high returns with little or no risk. The victims of a forex scam are often lured in by the promise of easy money, and are then asked to deposit funds into a trading account that is managed by the scammers.

Explained for Beginner: the 4 most common questions?

Why people do forex trading?
Is forex trading easy?
Who could make money in forex trading?
What are the skills need to be successful forex trader?

Explained for beginner: Pip Value

In forex trading, currency pairs are quoted with four decimal places, and the smallest change in price is referred to as a "pip". The value of a pip depends on the currency pair being traded and the size of the trade (lot size). For example, a change in price from 1.2050 to 1.2051 would be considered a one pip move.

Explained for beginner: MetaTrader 4 (MT4)

The MT4 (MetaTrader 4) is a popular electronic trading platform widely used by online retail forex traders. It was developed by the Russian software company MetaQuotes Software and was released in 2005. The platform offers advanced charting capabilities, multiple order types, and a range of customization options, making it a popular choice among traders. Additionally, MT4 provides a platform for the development of custom indicators and automated trading strategies, commonly known as Expert Advisors (EAs). The platform is available for multiple operating systems including Windows, Mac, iOS and Android.