Forex Newbies - Forex Trading for Newbies Explained

Forex News Trading Isn’t Newbie Friendly

July 19th, 2010

One of the first strategies learned by the Forex newbies is following the news and trading in accordance with the various news releases that can be considered related to the currencies and the Forex market. The good examples of such news are the macroeconomic reports, interest rate changes, political news and corporate releases. Two main problems arise when the newbies try to trade on Forex news: Trading too late. Usually the main reaction to the news (if [...]

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Pending Orders in Forex Trading

May 16th, 2010

The concept of the pending orders can seem somewhat complicated to the new Forex traders. The way they are used or why they are used at all isn’t that obvious compared to the standard trading orders. Pending orders help traders to automate the process of trading and remain in the market, while being not in front of their Forex terminals. There are 4 basic types of pending orders and 2 derived types (which are quite [...]

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Pip Value Formula

March 29th, 2010

The standard pip value for the USD-based account and the USD-based currency pairs (EUR/USD, GBP/USD, AUD/USD, etc.) is $10 for the standard lot. But many beginning Forex traders soon stumble upon the non-USD currency pairs (USD/JPY, USD/CHF or more difficult – EUR/JPY, EUR/CHF) or the non-dollar based accounts. In all those cases, the value of a single pip for your positions isn’t obvious. Here’s simple formula to calculate the pip value in all possible [...]

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Support and Resistance Lines: Learn How to Read the Charts!

November 26th, 2009

Technical analysis teaches us how to read the language of the markets as we trade Forex online. After we learn how to read it, we may begin to speak it as well, interacting with fellow traders in the vast Forex universe, and profiting from our knowledge. Technical analysis’ tools of translation are the indicators, and price formations that are drawn on price charts. While many of these tools have their critics [...]

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Recommended Forex Books

November 9th, 2009

Learning to trade Forex is somewhat easier if you have experience in equities, futures or options markets, but when you are a complete newbie, you’ll need to start from the basics. When learning from start, there are little as useful methods as reading the books. Forex and general trading books are so popular and numerous nowadays that it takes a lot of effort to find those pieces that will [...]

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Forex NewbiesForex articles tips tricks ebooks tools novice forex trader advice

Forex News Trading Isn’t Newbie Friendly

Pending Orders in Forex Trading

Pip Value Formula

Support and Resistance Lines: Learn How to Read the Charts!

Recommended Forex Books

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