Irrespective of experience, you’d be hard pressed to have not heard of MetaTrader, or MetaQuotes Software. Established in 2000, MetaQuotes Software Corp. is one of the leading developers of software applications for brokerages, banks and exchanges. The company has developed a series of popular products, ranging from a simple FX Charts platform to the MetaTrader … Continue reading MT4 vs. MT5
What separates a winning trader from a losing trader is psychology. Trading psychology, for those new to the subject, refers to the emotional aspects dictating a trader’s decisions. Irrespective of the trading plan employed, good psychology is a must-have trait for any trader. Learning to govern emotions and develop good decision-making skills will, unequivocally, improve … Continue reading 5 Must Read Trading Psychology Books
While it is true the foreign exchange (forex or FX for short) market is open 24 hours a day, five days a week, it is not constantly active. Breaking down the currency market into manageable chunks is important. Understanding when liquidity is likely to enter the market helps traders determine the optimal time to trade. … Continue reading Liquidity and Trading Sessions: Is There a Best Time to Trade?
Should a colleague, one who has a reputation of borrowing money and returning it later than proposed, ask to borrow $100 and offer to pay back $110 the following month, what would your initial thought be? It’s probably not worth the risk or the hassle, right? However, what if the said colleague offered to repay … Continue reading Understanding Risk/Reward Ratio in the Foreign Exchange Market
‘Risk comes from not knowing what you’re doing’ – Warren Buffet. Foreign exchange (forex or FX) trading, once the domain of commercial banks, hedge funds, large corporations and high net worth individuals, is now available to anyone with an internet connection and sufficient funds to meet balance requirements. Although a low barrier to entry, a number … Continue reading Position sizing – where SIZE really does matter!