Who Trades in the Forex Market? Imagine a big marketplace where people trade currencies. This place is called the Forex Market. Now, let’s see who the main traders are. In summary, the Forex Market is a place where a mix …
Understanding the Forex Market Think about the stock market, which many people are familiar with. In the stock market, there’s usually just one main player that sets the prices. This main player can change prices to their benefit. Imagine a …
When’s the Best Time to Trade Currency? 1. Which days are best? The middle of the week, particularly Tuesday to Thursday, is the best time to trade currency. That’s when the market is most active, and there’s a lot of …
You know how everyone watches their favorite TV shows at a certain time, like in the evening? And that’s when TV channels get the most viewers? That’s kind of like how trading works. There are times when lots of people …
1. Starting the Trading Week: 2. Major Trading Windows: 3. Forex Trading Dynamics: 4. Breaks in Trading: 5. Peak Trading Hours: 6. Helpful Tools: Mastering the intricacies of the forex market requires strategy, patience, and a deep understanding of its …
Most forex brokers offer demo accounts at no charge. These mock accounts mimic the functionalities of actual ones. Why is it at no cost? The brokers aim for you to familiarize yourself with their trading interface and enjoy risk-free trading, …
Types of Forex Orders Explained for Beginners Imagine you’re shopping online. Before you buy something, you decide on the price you’re willing to pay, right? In the world of forex trading (which is just buying and selling currencies), you can …
Let’s imagine you’re in a foreign country and you want to exchange your money. There are two prices you’ll see at the exchange counter: one price to buy a currency and another price to sell it. This is similar to …
In Forex trading, currencies are traded in units called “lots”. Think of them like cartons of eggs, where one carton has 12 eggs. In Forex, a standard lot represents 100,000 units of currency. However, there are smaller lot sizes too: …
When trading forex, you might hear the terms “pip”, “pipette”. Here’s a simplified breakdown: The good news? Most forex brokers calculate this for you. But it’s helpful to understand the math behind it.