The dollar extended its rally against the yen today after upbeat US initial jobless claims data that indicate the labour market continues to strengthen. This pleased the markets because any jobs-related data is closely watched by the Federal Reserve as the timing of the first rate hike is data-dependent. On Wednesday, Fed Chair Janet Yellen […]
My story with Forex Trading started some years ago but its only recently that I’ve become very strategic about making money from the markets. I’ve found an excellent course and starting to create a community of traders who are supporting each other. Join us.
If you’re totally new to forex trading and you want to start your career with the best then listen up. This industry can be very lucrative, but there’s also a whole lot of scams, overpriced education, dodgy brokers, promises of automatic profits and trading robots and blogs and forums galore. In this blog, I hope to document my adventures in trading the various currency pairs as well as provide a sounding board and lay a trail for other potential traders to follow.
The first thing is to find a broker, secondly a mentor and a credible teacher to teach you the art and science of trading. Then its up to you. The more diligently you can practice the discipline of trading, and it really is more of a discipline of methodically following a coherent plan, the quicker you’ll become an experienced trader knowing firstly when to enter and exit the market and having the experience of realising that risk/reward is the key to trading.
But I’m getting ahead of myself. First Step is:
Finding the right Forex Broker to Open an account with
After a great deal of searching, I’ve decided to go with AxiTrader and its mainly got to do with the mentor I’ve chosen. You can also check out this price action forex trading course which I think is fantastic. Its affordable, . If you don’t know what Price Action is, here’s a great article that explains it.
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For more information about any of these opportunities please contact me and I’ll help you get involved the right way. My mobile number is (082) 561-4455.
Latest Forex Trading Articles
The US dollar was broadly stronger leading into today’s Federal Reserve policy meeting and US inflation release. There are expectations for a shift to a more hawkish tone as there is speculation that the Fed will tweak its statement and remove its ”considerable time” phrase, with reference to interest rates. Market chatter says the Fed […]
The flash Markit Purchasing Manager Indices (PMIs) for the Eurozone were released today and they were stronger-than-expected, at least on an aggregate level. The Eurozone composite flash PMI came in at 51.7 compared to expectations of 51.5 and a 51.1 prior number. Manufacturing PMI was at 50.8 compared to 50.1 the previous month and Services […]
Today was an important day for Japanese markets as not only was the quarterly Bank of Japan Tankan survey of business sentiment announced, but the market got a chance to react to the results of the previous day’s Japanese elections. The Tankan survey slightly missed expectations on the Big Manufacturers Diffusion index, as it came […]
The European Central Bank’s cheap 4-year loans to Eurozone banks – called TLTRO – had a slightly lower than expected allotment of 130 billion euros, increasing speculation that the Bank would embark on a broader asset purchase program. The ECB allotted banks 129.8 billion euros of LTROs as part of a package of stimulus measures […]
This post is inspired by Seth Godin’s latest post on finding and growing the tribe of those with a common interest. I’ve been trading now for 4 months and I only have one friend that I know personally who also trades and so its time to grow my community of friends to those who are […]
The Swiss National Bank kept its key interest rate target unchanged at its meeting today, which disappointed some in the market who expected something new from the SNB like negative interest rates. However, negative rates were mentioned as a possible monetary policy tool during the press conference that followed the announcement. The SNB kept its […]
The yen was volatile against the dollar and other currencies as many traders took profits on their dollar longs but still others were looking to reestablish positions from more favorable levels. Dollar / yen spiked to as low as 117.93 the previous day, before rallying to 119.90 during the early half of the Asian session […]
UK data from the industrial sector on Tuesday showed signs that the British economy was not performing that well in the fourth quarter. Growth in manufacturing has been a lot weaker than the services sector. According to the Office for National Statistics (ONS), output is still well below 2008 levels. Figures released for October showed […]
The revision to Japan’s preliminary third quarter GDP growth figures was even worse than the dismal initial figures. Analysts failed to predict the negative revisions, as they were misled by a business investment survey that showed an improvement. Instead, because of methodological and sample issues, investment data was actually revised downwards. The annualized growth rate […]
The European Central Bank policy meeting was the highlight of the day. As widely expected the Bank kept its main refinancing rate at 0.05%, while leaving the bank overnight deposit rate at minus 0.2%. What markets were more interested in watching was ECB President Mario Draghi’s press conference following the policy meeting. The market was […]
AUDUSD remains bearish as the downtrend continues to new 4-year lows. The pair reached 0.8357 in early European session trading and looks set to head even lower. The decline accelerated after breaking below the 50% Fibonacci level at 0.8546 of the upleg from 0.6008 to 1.1078. The next key technical level that would act as […]
News that the Australian economy only grew by a 0.3% rate quarter-on-quarter during Q3 was a significant negative surprise. Economists were expecting the economy to grow by 0.7%. The yearly growth rate was at 2.7% versus 3.1% that was expected. Although these growth rates would probably excite other developed countries, the change in national income, […]
GBPUSD remains neutral for the moment, consolidating around the 61.8% Fibonacci retracement level of the upleg from 1.4811 to 1.7190. Resistance is seen at 1.5825. Failure to break above this would see prices extend lower after breaking immediate support at 1.5583 to target the 78.6% Fibonacci level at 1.5322. Overall the trend is bearish as […]
Oil prices tumbled below $75 dollars on news reports that ministers from the Organization of the Petroleum Exporting Countries (OPEC) decided to leave oil output unchanged. Brent crude oil dipped to a fresh 4-year low of $74.36 a barrel just before 15:00 GMT on Thursday following comments made by Saudi Oil Minister Ali al-Naimi who […]
USDCAD has maintained a steady uptrend since bouncing off a low of 1.0619 on July 3rd. Breaking above the 200-day moving average and the Ichimoku cloud strengthened the upside momentum. The thickening of the cloud and the rising tenkan-sen and kijun-sen lines are supporting the bullish bias. The pair hit a 5-year high of 1.1465 […]