The Eurozone reported less deflation than expected today and this helped the single currency get relief to recover from recent weakness ahead of the ECB’s launch of its large scale bond buying program. The bank is expected to lay out more details of the new stimulus program at a news conference on Thursday following a […]
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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Latest Forex Trading Articles
The European session lacked major news releases, leaving the focus on the US session which had a slew of economic data releases. As a result, most major currency pairs were rangebound during the European session until the early US session when volatility spiked in reaction to comments made by St. Louis Fed President James Bullard. […]
The US dollar was broadly weaker today giving a lift to its major counterparts, especially against the sterling which hit an 8-month high versus the greenback. Helping support the pound were comments by Bank of England Governor Mark Carney on Tuesday which firmed expectations for the central bank to begin raising rates by early in 2016. […]
The main highlights of the day were the Greek bailout extension approval and Fed Chair Janet Yellen’s testimony. The euro did not react as much on the EU’s approval of Greece’s reform proposals since an agreement with its creditors was more-or-less expected. The IMF did however voice concerns over the proposals. The review in April […]
The euro fell against the dollar to reverse Friday’s gains that were made after the Greek loan extension deal was announced. Investors are being cautious as the debt deal still has a lot of uncertainty. Greece will submit a list of planned reforms later in day which have to be agreed on by the Eurozone […]
Greece’s official request for a loan extension and a less hawkish – than- expected set of FOMC minutes were the core drivers of the currency markets in the last 24 hours. The euro rallied from late Wednesday to reach a high of 1.1449 in late morning European session trading. Helping extend the rally were a […]
The best performing major currency was the British pound which gained about 0.5% against the dollar on the day so far. Strong UK employment data and earnings numbers helped lift sterling to the highest level since January 2nd, topping at 1.5439. The Bank of England minutes also provided few surprises. Average weekly earnings, including bonuses, […]
The euro retraced all of its losses made yesterday against the dollar and rose back above the key 1.1400 level in the European session. Despite the failed Greek debt talks at the Eurogroup meeting on Monday, investors chose to put their concerns aside for now until there are more developments on this issue, hopefully on […]
Most major pairs traded in ranges today, as focus remained on the Eurogroup meeting that was taking place. The terms of Greece’s bailout deal are still being discussed yet an agreement is not expected to be reached today. The consensus is for a deal by the end of this week. The market’s focus shifted temporarily […]
Economic data releases out of Europe were not the core focus of the market today and were in fact ignored. Eurozone industrial production was flat despite expectations for it to rise 0.3%. German inflation was down 1.1% month-on-month versus a 1.0% drop expected. The euro was nevertheless up on the day, reacting positively to news […]
Economic data releases were almost nonexistent today leaving the focus still on Greece. As a result, the euro was range-bound above 1.1300 for most of the European session while the dollar was broadly stronger. Towards the end of the session it dipped to 1.1288. The downside bias remains strong and the currency is merely waiting for a catalyst […]
Concerns over Greece and China stole the focus away from Friday’s US nonfarm payrolls report. The markets soon digested the news of strong jobs data from the world’s largest economy and risk appetite was dampened on Monday by worries over China slowing down and the possibility of a Grexit. Meanwhile, geopolitical issues also grabbed market […]
The dollar was broadly weaker today, helping lift the euro and the pound. US trade data did little to support the greenback, although the main driver will be Friday’s all-important nonfarm payrolls. The euro maintained the 1.14 handle, rallying to a high of 1.1456 to recover most of yesterday’s losses when it fell on […]
Sterling was the best performing major today, as it was boosted by data showing that the UK services sector expanded faster-than-expected in January. The Services Purchasing Managers’ Index (PMI) came in at 57.2, up from December’s 55.8 and topped forecasts for a reading of 56.6. The pound extended yesterday’s gains versus the dollar to peak at […]
The Swiss franc was one of the weakest performing currencies today amid speculation that the Swiss National Bank is intervening in the currency markets. There were some reports that the central bank wants to adopt an unofficial band between 1.05 and 1.10 for the EURCHF exchange rate. The euro rose to 1.0587, its highest […]
Dukascopy Research Team covers fundamentals and technicals on the economic data release. Discussion of the historical data, potential trading strategies and projection of the possible market reaction. To join our LIVE daily webinars, follow the link below and click “click to join” www.dukascopy.com/tv/Live You can view this video and the full video archive on the […]