Just let the free market set currency exchange rates, he said, and trade deficits will self-correct. It may be true that governments, because they intervene … See all stories on this topic »
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Four Deformations of the Apocalypse
While we recognize that foreign exchange volatility is a reality for a global company, we routinely review our company performance on a constant dollar … See all stories on this topic »
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Rochester Medical Reports Third Quarter Results
Forex is extremely popular now. Well, it has been popular before. But 15 years ago it was a market that not everybody could access. With the development of the Internet Forex became very accessible. No wonder. You do not need to have any licenses or diplomas. No office, no education. All you need to have is a PC and the Internet. Sure, you are to have some money to start your forex career. Fortunately, some brokers offer very affordable packages from $20.
In early 2000s forex was invaded by amateur traders. Some of them managed to become professional traders who earn money in forex on an everyday basis. Others come to forex just to have fun and gamble.
As a rule amateur traders make too many mistakes. Some of their mistakes are fatal and cannot be corrected. According to stats, about 90% of traders lose in forex. It happens because of different reasons. Some of them have no knowledge while others are psychologically unprepared for serious trading. Here are some major mistakes that most amateur traders tend to make:
1. Thinking like a stock trader and liquidating a short position with a sell order. Since most stock traders enter the market with a buy order, they naturally liquidate the position with a sell order. But futures traders are equally comfortable trading from the short side, and that means liquidating a short position with a buy order. (Back in the days before screen, trading, when clients had to call orders directly to the brokerage firm, it was not uncommon to have a client call and say: “Buy me short” or “Sell my shorts.” Pity the confused clerk or broker who had to interpret that kind of misplaced order.)
2. Forgetting about good-till-canceled orders. More frequently than you’d believe, clients wind up with a trade they never wanted because they completely forget about a good-till-canceled order they entered months back. This can be especially dangerous when one is approaching the delivery month, when many contracts remove the daily limits and intraday price swings get larger than usual. That good-till-canceled soybean order that was $1,50 away from the market can get filled before you know it, and suddenly you have a position you never knew you had.
3. Confusing eurodollars with eurocurrency. Eurodollar Time Deposit futures is a 90-day interest rate contract. Its nickname is “euro.” The EuroFX is a currency contract based on the currency of the European Monetary Union. Its nickname is “euro” too. Broadly speaking, eurodollar futures is more of an institutional market. That’s why I always get suspicious when retail clients tell me they want to go long or short eurodollars. More times than not, they mean EuroFX currency futures.
Those who are searching for productive forex software – please make sure to read the review of this forex software, before buying any.
It is a must to read unbiased reviews before buying forex software.
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Can shortage of foreign currency be addressed in the short run?
NIKKEI.com Traders receive forex margin trading orders from customers at a Tokyo brokerage. A legal revision in 1998 opened up forex margin trading to individual … See all stories on this topic »
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Forex Leverage Cap To Be Introduced Aug 1
The forex currency rate is also known as the foreign exchange rate, forex rate or currency exchange rate. In the most basic terms, the forex rate represents … See all stories on this topic »
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Basics of Forex Currency Rates
The shared currency rallied 10 percent from a four-year low of $1.1877 reached on June 7. The euro gained 4.3 percent to 112.84 yen, from 108.22. … See all stories on this topic »
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Euro Rises for First Time in Eight Months as Sovereign-Debt Concern Eases
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Forex Margin Trading
And its currency arm, the State Administration of Foreign Exchange , was considered borderline mute. No longer. Lately, it's been hard to get the People's … See all stories on this topic »
A plethora of articles and books have been written on what do in order to guarantee success in Forex trading. Here is my take on it: As a Forex beginner, … See all stories on this topic »
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Is There a Magic Formula To Forex Trading Success?
