The Most Traded Currencies in Foreign Exchange

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According to the Bank for International Settlement Triennial Central Bank Survey (BIS), the Foreign Exchange market (or FX or forex market) is the largest and most liquid in the world with a global turnover measuring $5.1 trillion per day in 2016. As disclosed in the table below (courtesy of BIS), foreign exchange swap transactions cleared … Continue reading The Most Traded Currencies in Foreign Exchange

Trading the Forex Market Using Bullish and Bearish Pennants

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Observing sharp moves form in the foreign exchange market followed by periods of consolidation is common viewing. The problem traders have, though, is deciphering whether the pause in market price is the beginnings of a reversal, or a pullback before proceeding on its initial course. A chart pattern that places a framework around this type … Continue reading Trading the Forex Market Using Bullish and Bearish Pennants

MT4 vs. MT5

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Irrespective of experience, you’d be hard pressed to have not heard of MetaTrader, or MetaQuotes Software. Established in 2000, MetaQuotes Software Corp. is one of the leading developers of software applications for brokerages, banks and exchanges. The company has developed a series of popular products, ranging from a simple FX Charts platform to the MetaTrader … Continue reading MT4 vs. MT5

5 Must Read Trading Psychology Books

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What separates a winning trader from a losing trader is psychology. Trading psychology, for those new to the subject, refers to the emotional aspects dictating a trader’s decisions. Irrespective of the trading plan employed, good psychology is a must-have trait for any trader. Learning to govern emotions and develop good decision-making skills will, unequivocally, improve … Continue reading 5 Must Read Trading Psychology Books