fbpx
Supply and demand are the most important keys in the Forex trading

Supply and demand are the most important keys in the Forex trading

Supply and demand are the most important keys in the Forex trading.

Both have strong impact on trading and make all prices discoveries in the Forex Market.

Demand refers to how much quantity of a product is desired by buyers in Forex Market.

The demanded is the amount of a product people are willing to buy at a certain price.
Supply refers to how much the market can offer and how seller willing to supply when receiving a certain price.

Prices of the pair depend on the demand of the pair. Prices get low when the demand of the pair get slashed.

Supply and demand identify the real value of the market and the major key level in Forex Market which allow trader to play smartly and success in market.

Forex Supply and demand

Please follow and like us:
error0
The forex women on the rise!

The forex women on the rise!

The forex women on the rise!

More and more women are starting to delve into trading Forex.
It was a real male world for a long time, but now we already know a lot of very good female traders.

Once the Forex market started as a place where a group of men talk about money and where women were not allowed.
But luckily times have changed and the female traders are on the rise!
And I have to admit that there are a lot of good female traders!

 female traders

But why can women be so successful in trading Forex?


First, let’s discuss a few myths.

Myth 1: Women are too careful.
Totally wrong perhaps a woman is generally a bit more careful than a man, they will think about a trade more often and take fewer risks.
But these are the good qualities to be able to take a good trade.
Often you see they don’t rush into a trade but they think good about the trades , so mostly the trades they do take are very successful.
They skip the most common trading mistakes due to a very responsible approach to risk management and end up earning more.
Greed and impulsiveness are nobody’s friends on the global market, and women are perfectly capable of taking reasonable risks without losing control.
After all, they can handle kids, chores, and work at the same time!

Myth 2: Women are too emotional.
Again wrong! What I mainly experienced is that women see it as being very businesslike.
And that there is therefore little emotion involved.
They are also very good at trading according to a plan and often adhere to it.
Where men will sometimes deviate a little more from that and sometimes will be impulsive, you will see this a lot less with female traders.

Well having said this and luckily more and more women are participating in the forex industry. (May be much more!)
What keeps some women away from making money with trading forex?

A big barrier I have heard from female traders is that many women drop out because of the mostly arrogant men in the trading world.
Even though they are super good traders and analysts.
Many men have no problems learning from someone with that chest-pounding cockiness,
but I think modern and mature woman alike don’t want to listen to it let alone pay for it.

Many can agree with this pretty well, but even then, why should they have to navigate the disingenuous put downs and constant barrage of  “I Nailed It” echoing through most testosterone-driven chat/trading rooms?
I think there is something to be said for the Mom-Edict: IF you can’t say anything nice, don’t say anything at all!
But let’s face it: Instagram is full of male traders and pro male trading services who are full of bravado.
The options for finding a quality forex mentors who are humble, encouraging and courteous present a great opportunity for women.

Finally.


I think there is a whole world ahead for the female traders, from which we men can learn a lot.
I make sure that my community is woman friendly and that is also a very important rule in the forex scalpers community.
Let us encourage more women to trade and not discourage!

 female traders

And for the women:

You rock it!
Be the game changer!

 

Want to know more about trading in forex / trader mindset or do you want to join the forex group?
The forex group is mainly English!
Please contact me so that I can explain you much more about what we have to offer.
And all your questions can be verbs.

Looking for good Forex education? Look at www.theforexscalpers.com
The best Broker? Look at  IC MARKETS.

 

Please follow and like us:
error0
The top 5 wrong thoughts about forex.

The top 5 wrong thoughts about forex.

The top 5 wrong thoughts about forex.

I have been in Forex for quite a long time now, and I have noticed a lot of things, especially what starting Forex Traders think.
Here are a few things that I have noticed that is completely wrong.
And when you are doomed to fail in the forex business.

1. With forex trading you can get very rich very quickly.

Okay I really hear this very often. People come to me and ask if they can be financially independent within a month.
They think that they can immediately earn a lot of money with the right strategy and that everything is only very beautiful.
But let me help you out of that dream, if it was all that easy, why isn’t the whole world successful in trading forex?
Why didn’t anyone think of it before when it really is such an easy way to make money?
The truth is that you will probably lose a lot of money before you start earning money with forex.
Forex is hard work and with just a good strategy you are not there yet.
You need good risk management, the right mindset and, not unimportantly, a PLAN!
So if you are a person who believes in “professional Forex trader within 7 days”
or maybe “From $ 100 to 1,000,000 in just 1 month trading Forex” I have to disappoint you that is not realistic.

Forex

Forex

2. It’s oke to move or not using a stop loss at all.

What’s wrong with you? No really what’s wrong with you?
Why won’t you use a stoploss or why would you move your stoploss if your trade turns out to go the other way?
I assume you want to use a good risk / reward?
Then I tell you now if you do not use that stoploss or keep moving, you will never make it at all in the forex industry.
Rule number 1 in forex is then I think you should keep your losses as small as possible!
You are you going to move your stop loss and then?
So it can still hit your stoploss with a high probability and you will lose even more money?
Please stop doing that and stick to your plan!

3. Binary options is the best way to get rich in the forex!

No no no. Do you want to gamble? then go to the casino!
Binary options is just guessing which way the price goes.
Seriously, but no meaningful analysis can be made.
If you are lucky you earn money, but if you are not lucky you can just lose all your capital.
I am therefore annoyed by all those fake ads in binary options.
Binary options is not trading but simply gambling.
My advice is to read about  it carefully before you get involved with something like that, please!
And don’t start with Binary options if you really want to make forex your job.

4. You can easily do your analysis on an M5 time frame.

Sure you can do an analysis on an M1 or M5 timeframe.
But I don’t really know anyone who is really successful with that, at least not over a longer period.
Really seriously you make an analysis the best on the higher time frames these are strong.
Use the H4 and the H1 or even the daily you can use.
Believe me if you let go of these thoughts you will get very far. Never forget the higher time frame is the key for a good analysis!

5. The more indicators you use, the stronger your analysis!

Oh yes really? Sometimes I see charts, well, maybe I should call it paintings with dozens of indicators.
I really wonder if they can still see what they are doing.
I mean can you work well in a messy office?
Or are you more easily distracted from your work? I certainly do!
So cut it! Keep your charts clean and simple.
Make sure you keep an overview of what exactly you are doing.
See trading as reading a good book, a book that is fully scratched is no longer readable right?

Forex

Forex

Want to know more about trading in forex / trader mindset or do you want to join the forex group?
The forex group is mainly English!
Please contact me so that I can explain you much more about what we have to offer.
And all your questions can be verbs.

Looking for good Forex education? Look at www.theforexscalpers.com
The best Broker? Look at  IC MARKETS.

Please follow and like us:
error0

Which time frame is best for trading forex?

Which time frame is best for trading forex?

We know many time frames to trade forex.
From the monthly to the 1 minute.
Swing traders often trade a higher time frame and scalpers a lower time frame.
Yet it is very important to start from the higher time frames, even as a scalper.

The higher time frames show a much clearer direction and the support / resistance levels or the supply demand levels are much stronger.
I always draw first from the daily time frame, then the H4 and then the H1.
I often enter on the M30 time frame or the M15 time frame.

best time frame to trade Forex

best time frame to trade Forex

Levels lower than the 1 hourly time frame are tended to give false information.
Lots of waves are known as distractors or “noise”.
This could lead to confusion and bad decisions.

Look at the Support & Resistance like stairs. Moving up the stairs for the bulls and downstairs for the bears.
Market is in an upwards trend when bulls are peaking higher (higher highs) and have higher lows (when their lows are higher as normal).
While the bears make Lower lows and Lower highs.

When searching for extra levels or you can’t find any levels at all, you need to go back in time.
When your opinion of a certain pair is Bullish,
you’ll need to wait till the pair closes the last Resistance level.
You surely place your stop loss order just beneath the latest low or Support level.

When your judgement of the pair is Bearish, obviously you need to wait till the pair closes the latest Resistance level.
Place your stop loss order just above the latest high or just above the Resistance level.

 

Want to know more about trading in forex / trader mindset or do you want to join the forex group?
The forex group is mainly English!
Please contact me so that I can explain you much more about what we have to offer.
And all your questions can be verbs.

Looking for good Forex education? Look at www.theforexscalpers.com
The best Broker? Look at  IC MARKETS.

Please follow and like us:
error0

Forex trading fundamentals

Forex trading fundamentals

What are forex trading fundamentals ?

 

What exactly are forex trading fundamentals?

Important financial or economic news is thrown at us every day.
Fundamental announcements are a very important factor when trading at the Forex market.
Basically when trading at any market. Fundamentals could cause a movement in the market in a shorter timeframe. Take the Brexit for example.

We focus on the one economy versus the other economy.
For example Europe against USA or Great Britain Against Japan etc.

Let’s take a look at the most important indicators that will have a great impact on the market or certain pairs.
An increased interest rate of a certain country will result in a growth of value of the currency of that country since investments will rise due to a higher interest rate.

A lower interest rate will result in weaker currency since there will be less investments due to the lower rate of return.
This production data is a strong indicator for the industrialized countries.

It is Bullish if the numbers are higher than expected and Bearish if the numbers are lower than expected.

Employment data.

Higher employment numbers will be Bullish for a currency. And lower employment will naturally Bearish.
Higher inflation and higher consumer confidence is a positive economic signal and therefore has a Bullish impact on the currency.
And a weaker inflation and lower consumer confidence is a Bearish signal for a currency.

GDP (Gross domestic product) is more of a lagging indicator, but obviously a higher GDP encourages Bullish price. And the lower the GDP, the more Bearish.
This is also how a good Forex trader starts the day. First you look at the economic news and how it can have any effect on the pairs you want to trade.

 

forex trading fundamentals

forex trading fundamentals

Tips:

  • Keep an economic calendar on hand that lists the indicators and when they are due to be released. Also, keep an eye on the future; often markets will move in anticipation of a certain indicator or report due to be released at a later time.
  • Be informed about the economic indicators that are capturing most of the market’s attention at any given time. Such indicators are catalysts for the largest price and volume movements. For example, when the U.S. dollar is weak, inflation is often one of the most-watched indicators.
  • Know the market expectations for the data, and then pay attention to whether the expectations are met. That is far more important than the data itself. Occasionally, there is a drastic difference between the expectations and actual results. If so, be aware of the possible justifications for this difference.
  • Don’t react too quickly to the news. Often numbers are released and then revised, and things can change quickly. Pay attention to these revisions, as they may be a useful tool for seeing the trends and reacting more accurately to future reports.
Please follow and like us:
error0
The Hanging Man Forex

The Hanging Man Forex

The Hanging Man Forex – The Forex Scalper:


The Hanging Man Forex is a Bearish candlestick pattern at the end of an uptrend.

Mostly appears whenever there is a significant sell-off close to the markets high. However, buyers are capable to lift the pairs price up again so it closes nearby the opening level. Mostly a sell-off as seen as loss of territory for the Bulls. It shows weakness.

The Hanging Man Forex


As I said before, the Hanging man Forex is Bearish when occurs after an important uptrend. I hear you thinking. This patterns can easily occur after a downtrend as well right? The anser is yes indeed. However, when that happens it’s called a Hammer. Recognized by small red bodies (small margin between open and close prices) and long lower shadows (the lowest is significantly lower as the open high and close).

The Hanging man has no or almost no upper shadow and a lower shadow at least twice as long as the body of the candle. The lower half of the candles shadow will give is the pressure of selling. A terrific Price Action trade setup is when the formation is set at a Resistance level.

Step 1 is marking the Hanging man candlestick formation with your rectangle tool. Be sure that you are at your highest level of accuracy here. Draw from the top shadow to the lower shadow and stretch the rectangle a little to the right (so you give the price a little space to play).

In the example below we see a weekly Hanging man.

the Hanging man candlestick

Once emphasized the Hanging man candlestick you move on to the daily time frame. In this example the Hanging man was spotted at the weekly chart. As shown below at the daily chart, we have zoomed in to have a better view at the price action.

trading in forex

We’ve just waited for the momentum to change, the Resistance stood ground and the trend has reversed.

Want to know more about trading in forex or do you want to join the forex group?

Please contact me so that I can explain you much more about what we have to offer.

Looking for good Forex education? Look at www.theforexscalpers.com
The best Broker? Look at 
IC MARKETS.

https://theforexscalpers.com/2017/11/27/trader-mindset-theforexscalpers-com/
 
Please follow and like us:
error0