Misconceptions About Technical Analysis Demystified

1 month ago forexsimulation Comments Off on Misconceptions About Technical Analysis Demystified
Some traders criticize technical analysis as being a shallow study of patterns and charts without any solid, profitable, or definite outcomes. Others believe that technical analysis is the Holy Grail and, when understood, can bring in massive profits. These contrasting perspectives have brought about misconceptions about technical analysis and how its deployed. Some of these Read More

Types of CFDs and CFD Assets You Need To Know About

2 months ago forexsimulation Comments Off on Types of CFDs and CFD Assets You Need To Know About
CFDs or contract for differences is defined as a financial derivative instrument that can be sold or bought through the financial market. They are termed as derivatives because their value is drawn from the underlying instruments. They mirror existing assets on different financial markets but do not require the delivery of the actual asset to Read More

What Is the Best Trend Strength Indicator? ADX vs RSI

2 months ago forexsimulation Comments Off on What Is the Best Trend Strength Indicator? ADX vs RSI
ADX and RSI are two of the most familiar technical indicators in the forex market. Both of them can tell you trend strength. The fact that both technical indicators seem to do the same task attracts many questions. For instance, what is unique about each of the two indicators? What is better between ADX and Read More

Using Moving Average Tool in Forex Trading

3 months ago forexsimulation Comments Off on Using Moving Average Tool in Forex Trading
Making swift decisions is crucial in forex trading. Since the prices of the forexes keep changing, a forex trader must continuously monitor the changes. One of the tools that you can use to track the price changes is the moving average tool. Moving averages show the prevailing conditions in a non-trending forex market. Read More
Using a Forex Moving Average Convergence Divergence Trading Strategy

Using a Forex Moving Average Convergence Divergence Trading Strategy

5 months ago forexsimulation 0
MACD is a popular momentum indicator that follows and captures trends to show the relationship of two (MAs) Moving Averages of prices. Created in the 1970s by Gerald Appel, MACD is usually calculated by minusing the 26-day EMA from a 12-day EMA (Exponential Moving Average). These MAs use the closing prices of the period being Read More
Is Stochastic A Good Indicator?

Is Stochastic A Good Indicator?

6 months ago forexsimulation 0
It would be best to understand a stochastic indicator if you are looking for a technical indicator with a high degree of accuracy. Stochastic is a good indicator because it is precise in determining momentum. Besides, you can easily master how to use it. First, you should find out the sole reason for creating the Read More
It is rare to find businesses that give people opportunities to test how it goes before they invest in them. Taking for example the aspect of joining any bank account. If one is willing to start investing with a certain bank, they go right ahead and open for you the account. This is a straightforward kind of entry into the business because one already did their research and all they want now is to join the bank. When one opens a bank, you must put in some money into your account since, without any money, it will automatically be deemed dormant. The same case happens when one wants to join the forex market, a forex trader is needed to open a trading account and put up some money in the account. The forex trader’s trading account is what the trader will use in the trading games they participate in. 3 Factors Why Forex Demo Accounts are Important Forex trading is a business that allows one to try it out placing trades or see what goes on in the trading game. This article will highlight three factors why forex demo accounts are important. Start with Micro or mini accounts Demo accounts are important to forex traders because they enlighten a forex trader on what forex trading is and how it works. Forex trading demo accounts are defined as fake trading accounts. These accounts do not contain real money hence a forex trader cannot engage in a live trade with a demo account. A forex trader gets to learn from the basics of what forex trading is to what it takes for him or her to win. A forex trader can gain access to a demo account from the forex trading company they place their trades and are registered as forex traders. Demo accounts are also easily accessible from forex brokers who make money by training people all about forex trading. The knowledge that a forex trader gains from a demo account are immense. How one trades through a demo account is the same thing done through a real trading account. A forex trader should however be too over ambitious just in case they get frequent wins via a demo account. All a demo account does is train a forex trader on how forex trading is done not give promises of wins from forex trading. It is for this reason that a forex trader should join the forex trading business knowing that it can bring forth a win or a loss. Record keeping Keeping a record of happenings is very important in our lives in general. The same case applies in forex trading. A forex trader should keep track of the forex trading games he or she participates in. Keeping records of what a forex trader does helps him or her know if he is growing in the business. This is important especially if one takes forex trading as a serious business. Record keeping in forex trading will also help a forex trader know how much he or she is investing in the forex trading business. If one is a smart forex trader, they would not just misuse money or invest in forex trading for the sake of it. Forex trading is not a business one does out of boredom or trade as much as possible without any plan. It is for such reasons that demo accounts help one keep a record of their spending in the forex trading business. Allocating your time Forex trading is a business that happens 24/7 and is run all over the world. This however does not mean that one just spends all their time trading forex. A forex trader must understand that to grow in the forex trading business, one ought to allocate time for it. A forex trader should be wise enough to set apart time for forex trading and before they place their trade, understand what exactly you are doing. Conclusion Before one embarks on any venture, it is important to do some tests on the same. This test assists one to grasp the ways a certain business venture is run and if they can be able to do it or not.

The Importance of Forex Demo Accounts

6 months ago forexsimulation 0
It is rare to find businesses that give people opportunities to test how it goes before they invest in them. Taking for example the aspect of joining any bank account. If one is willing to start investing with a certain bank, they go right ahead and open for you the account. This is a straightforward Read More
Fibonacci Trading Strategies Every Trader Should try

Fibonacci Trading Strategies Every Trader Should try

7 months ago forexsimulation 0
Fibonacci trading strategies allow traders to assess market retreats across trending markets and discovering trading chances in each case. Read on to understand some of the effective Fibonacci strategies. Understanding the Fibonacci Retracement Tool While the Fibonacci retracement tool can be essential for trending markets, the scope of different retracement levels offers various use cases Read More
Different Types of Moving Averages for Traders

Different Types of Moving Averages for Traders

7 months ago forexsimulation 0
A moving average is described as a technical indicator that investors and market analysts use for determining a trend’s direction. It’s a sum of a financial security’s data points over a particular period, and the total divided by the data points to get an average or mean. It is known as a moving average because Read More
Bollinger Band trading strategies and Patterns

Bollinger Band trading strategies and Patterns

7 months ago forexsimulation 0
Forex traders use a wide range of strategies and patterns with Bollinger bands. Read along to find these out. Double Bottoms A double bottom is a technical analysis charting pattern that defines a power reversal and a difference in trend from previous dominant price action. This pattern indicates the drop of an index or stock, Read More