Here’s how to place orders and manage trades when trading forex. There are a number of forex order types that are useful in different circumstances. Here are the main order types: Market buy or sellStop buy or sell order Limit...
This article on day trading the EURUSD covers everything you need to start trading the most heavily traded forex pair in the world. The EURUSD provides ample opportunity most days to profit. It also offers high leverage to maximize trading...
This forex introduction provides an overview of what forex is and how to trade it. Topics covered include currency pairs, how to make money, the bid/ask spread, pips and pip value, lot sizes, market hours, leverage, and rollover. Don’t know...
The pip value when forex trading affects how much you will make or lose, in your own currency, for each pip the price moves. Pip value is based on the lot size, the currency pair/exchange rate, and the account currency....
Many forex brokers offer trading via Contract for Difference (CFD) in oil, gold, the S&P 500, Dow Jones Indexes, and other commodities and financial products. These are based on futures contracts and don’t trade like currencies. These other products can...
The following is the weekly review for the forex strategies covered in the EURUSD Day Trading Course. Below are the charts highlighting the patterns that occurred during the week, as well as comments on the price action of the day and...
A Renko chart forms bricks of a certain size, and only forms a new brick once the price moves that amount. This helps filter out price noise, shows the dominant trend, and can be used as a trailing stop loss....
As a professional day trader since 2005, I spend 0.5 to 2 hours per day taking day trades. My trades last several minutes each, and I take on average 3 to 10 trades per day in that 2-hour period. Assume...
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