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7 things to learn before starting your forex trading journey

Published Friday, Mar. 13, 2020, 9:56 am Front Page » Business » 7 things to learn before starting your forex trading journey Join AFP’s 100,000+ followers on Facebook Purchase a subscription to AFP | Subscribe to AFP podcasts on iTunes

forex trading

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Forex trading is the act of buying or selling currencies. In fact, it is one of the most lucrative markets, where trades in currencies are often worth millions and profits are significant. This is why countless investors find forex trading attractive, especially because this market is open 24/7. If you’re considering forex trading and don’t know how to start, here are 7 essential tips to take into account before embarking on this adventurous journey so that you can trade carefully and consider the risks:

  1. You Can Set Up a Demo Account

As a beginner, it’s important to get a chance to practice and understand how trading business works. It wouldn’t hurt experimenting with different strategies on trades to get the hang of it, allowing you to test the waters and understand the different risks involved. The great thing about these demo accounts is that you won’t use real funds,  only virtual money. Just remember that these accounts have a time limit, so practice as much as you can.

  1. Getting Rich Quick Shouldn’t Be Your Goal

Indeed the possibility of higher returns is true, but it doesn’t happen overnight. If you are getting into this type of market thinking that you’ll make millions in a short time, then you might need to reconsider your choices. Traders and financial gurus at Forex Trading-Online believe that anyone can start trading in the foreign exchange market from the comfort of their home, but they never said that people would make a million dollars in one day. You must understand that your best bet has to be with the slow trades that drag on. They might take a while longer than you expect, but it’s safe and guaranteed to get you a nice yield.

  1. Calculate Your Expectancy

There is a formula that every trader should learn whenever they’re about to trade in the forex market. This can help you understand just how good your system is and which strategy works best. The formula calculates the expectancy (E), average winning trade (W), average losing trade (L), and the percentage win ratio (P). It will look like this “E= 1+(W/L)x P-1” and will help you know if your trades will bring positive expectancy results. You should use it after 5 or 10 trades, even if some of them were lost because it will let you know if you’re following a decent system or not.

  1. Keeping Records Is Key

You need to learn from the beginning that you should always have a printed record of all trades, allowing you to revise everything that you’ve done. Your records should include the reason behind the trade, entry and exit points, emotional state at the time of the trade, and the strategy you’ve chosen. These records will be important for you in the future because they can help you control your emotions, have more discipline, and have better trading habits, and it’s also a chance to learn from your possible mistakes.

  1. Do Not Overcomplicate Your Trades

A lot of beginners tend to overextend themselves and get multiple trading screen setups or numerous software programs to help them a trade, but this isn’t needed and it might confuse you too much. You don’t need to have a lot of screens or software programs to be a successful trader. You just need a laptop and possibly a free charting program to make it easier for you if you’re on the move.

  1. You Can Start Small

Believe it or not, you don’t need a huge capital to begin your forex trading journey. You can start with low capital depending on your situation. However, it’s recommended that you start with a thousand dollars because it acts as a buffer for safer trades. You can trade with less than that, but it’s easier in the long run with at least a thousand dollars because you might lose some trades in the future.

  1. Choose the Right Type of Account

As a beginner, you should know that you have three accounts to choose from. You can start with a standard, mini, or micro account and choosing one depends on your needs and financial goals. Remember that the choice of account is also based on how much money you have and which strategy you will use. Always be patient and smart with your trades to have better chances of a decent return.

It might be a little overwhelming for beginners, but once you get used to the terminologies and learn how to study the markets, then you’ll be able to come up with the best strategies for a decent and lucrative yield. Just remember to adopt healthy trading habits and never mix your emotions with trades to become a competent trader in this market soon enough.

   
   
 

 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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Statements about Cryptocurrency

Statements about Cryptocurrency

Cryptocurrencies are in a bubble and regulators could burst this at a whim.

  • Eight years after the introduction of Bitcoin, there are now over 900 cryptocurrencies and their prices are at all-time highs.
  • Richard Schiller categorizes bubbles as an underlying story driving the market forward, as opposed to the fundamentals of the assets. Cryptocurrencies are riding on a narrative of economic empowerment and freedom.
  • Despite the widespread attention that cryptocurrency receive, many of the actors involved in the market are not fully informed. Debate tends to turn to hype and naive investors are buying crypto-assets without fully understanding what they are.
  • Banks spend 73% of the market capitalization of Bitcoin each year on regulatory compliance. Crypto-assets are currently unregulated and free of these restrictions. As such, the market has thrived but also developed some bad habits.
  • Regulators cannot necessarily shut down cryptocurrencies, but they can restrict liquidity into them from fiat currencies and hamper their growth. The global derivatives market, for example, is worth $1.2 quadrillion, dwarfing Bitcoin’s $100 billion market cap.

Statements about Cryptocurrency

Market manipulations in crypto markets are undermining their credibility.

  • Due to low liquidity, no regulation, and a lack of clear understanding of the markets, pump and dumps are widespread in crypto markets. This is where a speculator can artificially sell while concurrently buying their own currency, wait for the market to rise, and then dump their holdings.
  • Frontrunning is also a common occurrence in ICOs, where early investors—who are used to show initial faith in the enterprise—buy discounted tokens before immediately selling them on.

As with historic bubbles, scams are exploiting naive investors.

ICOs can have the characteristics of vaporware. Entrepreneurs are raising hundred of millions of dollars purely on concepts. Money is being raised from investors who do not truly understand the technical concepts being proposed to them, let alone whether they are feasible.

  • The actual asset structures of ICOs are not only complex but also new forms of assets in their own right. This further confuses investors, which is compounded by the “FOMO” mentality of rushing into investments and following the crowd.
  • The use of celebrities to promote ICOs further demonstrates the use of manipulative marketing techniques used to cajole immature investors into participating in ICOs.
  • The current ICO craze is reminiscent of the South Sea Bubble of the 18th century, a speculatory period that involved crazed investment into enterprises in the New World. Once one of the highest valued companies of all time, the South Sea Company’s bubble burst and the company disappeared almost as quickly as it appeared.

Blockchains are still not proven technology, and more work is required.

  • Blockchains are still new concepts and their technology has not yet been proven on a consumer-wide scale. Attention should be focused on developing this, not speculating on short-termist projects.
  • The security of blockchains is a concept that most investors in crypto-assets do not understand. The onus is on them to protect their assets, which, on the basis of the amount of thefts and frauds in the space, is not being done properly.

There are some solutions to these issues.

  • A less polarized mentality of “us against the world” is needed; this could be enforced by the promotion of self-regulatory standards. These could also help to highlight the bad actors in the ecosystem.
  • More development is required into the underlying technology of blockchains. In the long run, this would be far more valuable than ICO moon-shot projects.
  • Awareness and discussion needs to be promoted. Conferences should present balanced debates from both sides of the crypto-view and more emphasis should be placed on educating investors instead of soliciting their investments.

Originally Published here at https://www.toptal.com

Statements about Cryptocurrency

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CMStrader Signals provider, the number 1 signal provider 4 years in a row

CMStrader Signals provider, the number 1 signal provider 4 years in a row.

CMStrader, the number 1 signal provider 4 years in a row, is now offering free signals to new clients!  Reliable trading tools are fundamental part of successful trading.

cmstrader for the Best Trading Signals

cmstrader for the Best Trading Signals

 

CMStrader’s signals success rate is estimated in 91% this should be enough to take a look and decide for yourself. since this is their biggest feature and drives this broker towards success, it is opretty afe to say that they do their utmost to provide you with quality forex signals.

This broker also entered the cryptocurrency market and offers several cryptocurrencies.  in short they act on the market and engage their clients directly.

when you start trading at CMSTrader, you can choose from a extended list of currencies, indices, commodities, gold and oil.

CMStrader Signals for better Trading

CMSTrader sends trading signals to traders’ accounts when there is an opportunity to buy or sell orders at specific points; an overview of the speculated price or loss ratio is included.

CMStrader Signals the number 1 signal provider among brokers

CMStrader Signals the number 1 signal provider among brokers

The signals are sent directly via SMS to a cellphone for major currencies traded on the stock exchange, foreign goods and precious metals.

In addition, signals can be sent to an e-mail address and or traders can be notified directly over the phone.  This service is available 24/5.

Like with Most proper signal services don’t expect 50 signals a day as simply there are not that many. you will get maybe a few good ones a day on which you could and most of the time should act.

Earn profits with CMStrader Signals in the forex market – the biggest trading scene in the world. Enjoy our unique benefits, trading education, minimum margin and best leverage! Start with a demo account and enter the amazing world of forex with CMStrader.

More about CMStrader Signals & Forex Broker

  • Name :CMSTrader
  • Website :cmstrader.com
  • Established :2013
  • Regulation :FSP
  • Country :United Kingdom
  • U.S. Clients Allowed ?  :No

CMSTrader is a leading investment advisor specializing in personal wealth management and growth and is a somewhat a newcomer to the Forex market.

they started in 2013 and since then have won several awards 2 including one for having best customer service in 2013.

CMSTrader “CMStrader Signals” is authorized under the name of CMS Ventures Limited which is a New Zealand Registered Financial Service Provider (FSP).

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