Posts

Showing posts with the label forex trader

The Power of Combining 6-Period and 18-Period Smoothed Moving Averages for Short-Term Day Trading

Image
by: Ivan Cavric Short-term day trading involves buying and selling securities within a single trading day. As a result, traders must be able to quickly identify trends and make informed decisions to maximize profits. In this fast-paced environment, using a moving average can be a helpful tool to assess market trends and make informed decisions. One of the most popular and effective moving averages used by short-term traders is the 6-period and 18-period smoothed moving average. This combination is considered the best because it strikes a balance between sensitivity and smoothness. The 6-period moving average is a highly sensitive indicator that can quickly detect short-term price changes. This is especially important for day traders who are looking for quick profits. However, a highly sensitive indicator can also lead to false signals, causing traders to make poor decisions. The 18-period moving average provides a smooth representation of the trend and eliminates short-term fluctuati...

How Not to Lose Your Shirt Trading Forex

Image
By:  Ivan Cavric I’m going to be 100% honest with you and tell you the following before you consider trading currencies: All forex traders, and I mean all traders lose money on trades. Ninety percent of traders lose money, largely due to lack of planning and training and having poor money management rules.  Trading forex is not for the unemployed, those on low incomes, who can't afford to pay their electricity bill or afford to eat. You should have at least $5,000 of trading capital (in a mini-account) that you can afford to lose. Don’t expect to start an account with a few hundred dollars and expect to become a kazillionaire.  The foreign exchange market is one of most popular markets for speculation, due to its enormous size, liquidity and tendency for currencies to move in strong trends. You would think traders all over the world would make a killing, but success has been limited to very small percentage of traders.  Many traders come with false hope of making a g...

Factors Involved In Becoming A Successful Forex Trader

Image
By:  Ivan Cavric These days everyone is talking about Forex trading and the great opportunity this activity represents for people willing to brake free from the corporate world and start working from home or any where else without losing their current lifestyle and even improving it. Forex trading has changed dramatically in the last 10 years thanks to the technological advancements of the internet era. With real-time streaming technology and faster and more efficient computer systems, almost anything, from roses to FX trading, is available at the click of a button.  Some of the great reasons why Forex trading is a great way of entering the capital markets is that your trades are all commission-free and it has a low transaction cost. All the best forex brokers have these characteristics and even Mini FX traders (i.e., traders starting with accounts having a capital as low as $250), who are just starting in this field, can buy and sell currencies online always commission-free....