The world of finance continues to be shaken up with more and more financial instruments that allow smart individuals to spread their wealth over time.

Apart from your standard stocks, another tried and tested financial instrument that stands strong to this day is foreign exchange.

Forex trading is the practice of trading and exchanging two different currencies in the hopes of making significant gains.

It’s a popular financial instrument used by financial traders that prefer less volatile trading options as compared to stocks, crypto, and commodities.

Although forex trading is a lot safer as compared to other trading options, that doesn’t mean that there aren’t any risks anymore.

These are still pretty much present which is why you should learn the right techniques to help guide you towards making better trades.

Note: Celebrate The 2022 New Year With LiteFinance And With Apple Gadgets! (More on litefinance.com)


If you are a beginner, then here’s a good guide to get you started.

Pick The Right Broker

Before you even think about trading, the very first thing you should think of is the broker or the platform from which you can trade.

While they are all there to help you trade, some platforms give you access to trading features and fair transaction rates altogether.

Of course, you should also consider the security and legitimacy of the platforms you trade on as well. As there are many brokers available, you should consider your options thoroughly.

Stay Updated

What’s good about forex trading is that since it’s based on foreign exchange, the rates you are going to deal with are affected by current news regarding a country’s economy.

For instance, good foreign investments can help the value of one currency positively whereas negative economic news has the opposite effect.

This means that staying up-to-date with news regarding the currencies you trade-in is going to be beneficial.

Now, keep in mind that no currency is volatile to the point that it will see a severe drop rate in 24 hours. Still, economic news does have its effect on a currency over time.

Prepare A Risk Management Plan

Like other financial instruments, your gains in forex trading depend on the risks you are willing to take.

The higher the risks, the bigger your earnings. However, that doesn’t mean that you should carelessly trade until you completely run out of capital.

It’s always good to trade with a risk management plan in mind. Ideally, you’d want to stop trading when you reach a certain threshold of losses.

This will prevent you from completely losing your capital, and will allow you to come back another day if one trading session isn’t doing you well.

Start Small

Since this is your first time trading forex, it would be smart to start with small and manageable trade. This means starting with a small capital from the get-go.

Try to test the waters and then develop your own trading strategy first. Forex trading is here to stay so try to be patient with it.

Starting small also means trading one at a time. Experienced traders engage in multiple deals at a time but that’s because they’ve already developed the skillset for it through consistent trading.

Practice

It goes without saying that practicing is a key part of your forex trading journey as well. The good news is that there are many ways to practice without having to risk anything on your end.

You can do this through demo accounts on trading platforms that let you trade with virtual money.

Almost every trading platform offers this unique feature so you don’t have to look hard to find one. Before you trade with real money, make it a must to trade using a demo account first.

Get a feel of forex trading. It’s similar to other forms of trading but since the instruments are different, it does take getting used to.

Explore

From the get-go, you might be tempted to trade only currencies you are familiar with. This isn’t a bad idea though.

Doing this is good because you are at least familiar with the currency and you know how to take full advantage of it with what you know.

However, don’t limit yourself to these currencies as there are many out there that are waiting to be explored.

Sometimes, it’s good to keep a close eye on up-and-coming economies because they offer the best chances for growth and gains.

The world of finance continues to be shaken up with more and more financial instruments that allow smart individuals to spread their wealth over time.

Apart from your standard stocks, another tried and tested financial instrument that stands strong to this day is foreign exchange.

Forex trading is the practice of trading and exchanging two different currencies in the hopes of making significant gains.

It’s a popular financial instrument used by financial traders that prefer less volatile trading options as compared to stocks, crypto, and commodities.

Although forex trading is a lot safer as compared to other trading options, that doesn’t mean that there aren’t any risks anymore.

These are still pretty much present which is why you should learn the right techniques to help guide you towards making better trades.

Note: Celebrate The 2022 New Year With LiteFinance And With Apple Gadgets! (More on litefinance.com)


If you are a beginner, then here’s a good guide to get you started.


Pick The Right Broker

Before you even think about trading, the very first thing you should think of is the broker or the platform from which you can trade.

While they are all there to help you trade, some platforms give you access to trading features and fair transaction rates altogether.

Of course, you should also consider the security and legitimacy of the platforms you trade on as well. As there are many brokers available, you should consider your options thoroughly.


Stay Updated

What’s good about forex trading is that since it’s based on foreign exchange, the rates you are going to deal with are affected by current news regarding a country’s economy.

For instance, good foreign investments can help the value of one currency positively whereas negative economic news has the opposite effect.

This means that staying up-to-date with news regarding the currencies you trade-in is going to be beneficial.

Now, keep in mind that no currency is volatile to the point that it will see a severe drop rate in 24 hours. Still, economic news does have its effect on a currency over time.


Prepare A Risk Management Plan

Like other financial instruments, your gains in forex trading depend on the risks you are willing to take.

The higher the risks, the bigger your earnings. However, that doesn’t mean that you should carelessly trade until you completely run out of capital.

It’s always good to trade with a risk management plan in mind. Ideally, you’d want to stop trading when you reach a certain threshold of losses.

This will prevent you from completely losing your capital, and will allow you to come back another day if one trading session isn’t doing you well.


Start Small

Since this is your first time trading forex, it would be smart to start with small and manageable trade. This means starting with a small capital from the get-go.

Try to test the waters and then develop your own trading strategy first. Forex trading is here to stay so try to be patient with it.

Starting small also means trading one at a time. Experienced traders engage in multiple deals at a time but that’s because they’ve already developed the skillset for it through consistent trading.


Practice

It goes without saying that practicing is a key part of your forex trading journey as well. The good news is that there are many ways to practice without having to risk anything on your end.

You can do this through demo accounts on trading platforms that let you trade with virtual money.

Almost every trading platform offers this unique feature so you don’t have to look hard to find one. Before you trade with real money, make it a must to trade using a demo account first.

Get a feel of forex trading. It’s similar to other forms of trading but since the instruments are different, it does take getting used to.


Explore

From the get-go, you might be tempted to trade only currencies you are familiar with. This isn’t a bad idea though.

Doing this is good because you are at least familiar with the currency and you know how to take full advantage of it with what you know.

However, don’t limit yourself to these currencies as there are many out there that are waiting to be explored.

Sometimes, it’s good to keep a close eye on up-and-coming economies because they offer the best chances for growth and gains.

AvaTrade is a trusted global brand best known for offering traders an extensive selection of trading platform options.

Our testing found AvaTrade to be great for copy trading, competitive for mobile, mostly in line with the industry average for pricing and research, and a winner for investor education.

Founded in 2006, AvaTrade is regulated in three tier-1 jurisdictions and three tier-2 jurisdictions, making it a safe broker (low-risk) for Forex and CFDs trading.

Alongside MetaTrader, AvaTrade offers its proprietary platforms AvaTrade WebTrader and AvaOptions, as well as ZuluTrade and DupliTrade for social copy trading, where it finished Best in Class in 2021. The variety of platform options makes AvaTrade competitive in this area.

Compared to pricing leaders such as IG and Saxo Bank, AvaTrade ranks Best in Class for Commissions & Fees in 2021.

Is AvaTrade Safe?

AvaTrade is considered low-risk, with an overall Trust Score of 93 out of 99. AvaTrade is not publicly-traded and does not operate a bank. AvaTrade is authorized by three tier-1 regulators (high trust), four tier-2 regulators (average trust), and one tier-3 regulator (low trust).

AvaTrade is authorized by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Japanese Financial Services Authority (JFSA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC). Learn more about Trust Score.

Offering of Investments

The range of markets available at AvaTrade will depend on which of the brand's global entities and trading platform you choose. The following table summarizes the different investment products available to AvaTrade clients.

Cryptocurrency: Cryptocurrency trading is available through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available from any broker's UK entity, nor to UK residents.

Commissions & Fees

AvaTrade's spreads are close to the industry average, just below one pip on the EUR/USD at 0.9 pips, yet slightly higher than entry-level accounts offered by CMC Markets and Saxo Bank.

The exception is if you qualify as a Professional trader, in which case spreads on the EUR/USD drops to 0.6 pips.

Spreads: With variable pricing, AvaTrade lists a spread of 0.9 pips on the EUR/USD, which is a touch above the industry average, while spreads on its Professional account are competitive and comparable to FP Markets.

Platforms & Tools

AvaTrade offers two proprietary platforms (AvaTrade WebTrader, AvaOptions), the full MetaTrader suite, ZuluTrade, and DupliTrade (accessible via WebTrader).

Thanks to AvaTrade's extensive offering of copy trading platform options, AvaTrade once again finished Best in Class for copy trading.

MetaTrader vs. WebTrader: While MetaTrader offers nearly 800 tradeable symbols, WebTrader only provides around 200.

AvaTrade WebTrader: I found the proprietary WebTrader platform to be well-designed in a responsive layout. In fact, in 2021, AvaTrade won our award for #1 Innovation given the speed of its evolution as a new platform.

Charting comes with 90 indicators, and I was pleased to find a suite of trading tools from Trading Central is directly integrated into the platform.

That said, WebTrader still has a way to go compared to the richness and depth of features found on proprietary platforms from industry leaders such as IG, Saxo Bank, and CMC Markets.

Copy-trading: AvaTrade's steady progress in expanding and enhancing its copy trading offering has helped bring it among the industry leaders such as eToro and Pepperstone.

More recently, AvaTrade launched AvaSocial in the UK, although it does not yet permit automated copying of traders.

AvaOptions: For options traders that deposit at least $1k, AvaTrade provides AvaOptions, its forex options platform for desktop and mobile.

The desktop version is for Windows only and requires that users install Microsoft's .NET Framework 3.5 SP1.

Being a seasoned trader, even I found the platform layout to be complex. Clearly suited for professionals, the platform needs a design overhaul.

Mobile Trading

Overall, AvaTrade's mobile experience is good and will satisfy most traders. However, it isn't quite good enough to challenge category leaders such as Saxo Bank, CMC Markets, or TD Ameritrade (US residents only).

Besides the full MetaTrader suite, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5) available for Android and iOS devices, AvaTrade's proprietary mobile platforms include AvaTradeGO and AvaOptions.

AvaTradeGo: The AvaTradeGo app closely resembles its web-counterpart and comes with a robust set of default syncing watchlists and a volatility protection feature called AvaProtect.

This feature allows a trader to reduce the risk on their open trade by partially hedging their position with a forex option for an added cost.

Charting comes with 93 indicators, and there is integrated research and related tools from Trading Central, just like in the web platform. All in all, it is a well-rounded app, especially for beginners.

AvaOptions: I found the AvaOptions app design to be impressive because AvaTrade isn't afraid to take design risks in its quest to enhance usability.

For example, AvaTrade offers a unique design for reading options chains, which I found impressive. That said, I did find that the "payoff" diagrams (depicted visually) are hard to understand and could use explanatory notes.

Options chains aside, with 14 default options trading strategies available, merely selecting an option plan will automatically populate the order-ticket with the related options contracts.


Yet another nice touch is that traders can change the strike price by simply dragging it higher or lower.

Final Thoughts

Overall, AvaTrade stands out for its rich selection of trading platform options alongside educational content for beginners, and crypto trading where it finished Best in Class in 2021.

Downsides include an average research experience alongside a limited range of tradeable markets. Also, AvaTrade's spreads for clients designated as Professional traders in the EU are competitive.

Social trading has risen greatly in popularity in recent years. This is thanks to the availability of many top social trading brokers and platforms like Etoro and others, combined with an increasing desire for social interaction online.

Here I will examine exactly what social trading is, how to get started in social trading, and some of the ways in which it could benefit your Forex trading future.

Therefore, let’s dive right in…

Here are the deets…

The Basics of Social Trading

Social trading is a type of trading that effectively allows traders to copy the market movements of other traders. In this way, social trading can be exactly the same as copy trading.

What makes social trading unique and different from copy trading, is the added element of social interaction. Thinking of social trading like copy trading combined with social media will get you close to an accurate picture of what social trading is.

Through social trading broker and platform, you will typically have the power not only to copy the trades of others but also to interact with those traders and others through the platform.

This adds an extra dynamic layer to the trading process which is your ability to communicate with other traders while you trade.

How Social Trading Works

The basic principles of social trading are that a broker will provide you with a trading platform that fully incorporates a range of features.

These features include the ability to engage in copy trading of others on the platform and also integrate social network-style features.

This means you can follow other traders, post comments, messages, and share your opinions through the network.

On the trading side, this still functions much as a copy trading platform. You will typically choose the trader you wish to copy, and you can do so at your own convenience.

The added element here is the ability to interact with others. This enables you to get a broader insight from others on a particular trader, or strategy you wish to follow.

The best example of a fully integrated social trading platform is FP Markets. They are often referred to as both the number one copy and social trading platform in the world. This highlights the great degree of similarity between the two styles.

If you do not want to engage with a fully equipped social trading platform though, there are other ways in which you can start social trading through MT4 or another trading platform.

This requires more work on your behalf as you will have to separately collect and follow the data, but it is possible.

Metatrader 4 for example, has a feature known as “sentiment trader” which enables you to analyze market sentiment and how others have traded.

Aside from this, you can also choose to follow Forex trading signals, the information you collect from other trading communities, or data from one of many market sentiment indicators that are readily available.

As a new trader though, it is often much easier to sign-up with a user-friendly, fully integrated, social trading broker.

Getting Started in Social Trading

Getting started in social trading is not a difficult process, though first, you will need to choose which type of social trading you would prefer to be involved in.

If this is a fully integrated social trading broker experience, then you can quickly find a top social trading broker and complete the sign-up process with them to start trading.

You could also opt to start trading with a third-party trading platform. Many of these third-party platforms can be linked to your original broker account to allow for social trading, though you should double-check with your broker first.

Finally, if you are a more experienced trader, you may wish to “build your own” social trading experience. With the support of a top broker, that is also possible.

Here you can join trading community groups like MQL4 if you are a Metatrader user. You can also gather data from charting indicators like the COT report, or Volatility Index (VIX), to help you decide your strategy.

You could also decide to sign up for a separate signals service which you can follow on your own.

Pros and Cons of Social Trading

Just like any form of trading, there are good and bad points with social trading depending on your needs. Here are a few of the key points to note:

Pros

Social trading can be great for those who are new to trading. It can be a way for beginner traders to receive great guidance and information from more experienced traders.

You can get all the benefits of copy trading, with the added interaction with other users. This is something many feels adds value and a sense of community to trading.

Social trading can be a great time saver. Find a trader you like to follow and copy, and you remove a lot of the time it takes to research and places your trades.

Cons

Just because you are following the trades of others does not mean you shouldn’t do your own research and due diligence. This is still key no matter your trading style.

Following the trades of others even though they are likely experienced traders, exposes you to risk which can be somewhat out of your control. To this end, it is important to research any traders you want to follow and copy thoroughly.

Social trading allows everyone to share their opinions whether they are well-informed or not. It is up to you to decide which advice you should follow.

Final Thoughts

Social trading, whether it is through a well-established social trading broker and platform, or through a range of services provided by third parties that you combine by yourself, is a great way to enhance your trading environment.

It can provide you with opinions, ideas, and data you never previously considered as well as streamlining the entire trading process for many.
As long as you engage in the correct research, and remember to employ prudent risk management, there is no reason why social trading cannot work to your benefit in trading forex, CFDs, or other assets.

Also read: Compare The Two Common Trading Accounts — Demo Vs. Live Trading

The Forex market is becoming increasingly popular thanks to its liquidity and daily volumes of trading.

The opportunities are endless. If you are searching for new ways to invest your money and have been thinking of Forex, we give you the best tips to help you start.

Know the markets

The Forex market is just one of many financial markets. All of them are connected. The fluctuation in currency prices is mainly linked to the fluctuation in prices in the commodity markets.

These markets are all susceptible to speculations from central banks and other financial institutions.

To succeed in Forex trading, you need to have at least some basic notions about all of these in order to understand the news events, recognize the opportunities and market trends, and make sound financial decisions, understanding the differences between demo and live trading, etc.

Make a trading plan

After you have defined the capital you want to invest, you need to prepare your forex trading plan.

It should include the following information: when you want to exit the market, how much time you are willing to spend trading, your research regarding the pair you are interested in, your risk management strategy, and your trading strategy.

Having a good plan is half of your success. When we say the plan, we think first of all of a realistic and healthy motivation. Don’t be greedy, thinking you are going to buy a yacht and a Lamborghini after just a couple of days of trading.

Selecting a Forex broker

Selecting the right forex broker is vital. The best brokers are, first of all regulated, transparent regarding fees and commissions, have efficient customer support, and offer you training.

They need educated and informed clients because it’s in their best interest. If you trade successfully, they also make more profits.

Practice on a demo account

You cannot start trading out of the blue. Fortunately, many forex brokers offer you training and are ready to help you with all aspects of forex trading before you decide to trade for real.

In that way, you can feel the market and finally decide which currency pair you want to trade.

What instruments to use to invest in Forex?

The best way for trading forex at the beginning can be done through CFDs These are speculative products that allow you to trade the future trend in the price of a currency pair without having to own and without delivering physical currency.

What is the easiest pair for a beginner to trade?

The easiest forex currency pair to trade often varies from trader to trader. It depends on their attitude toward risk and interests.

A good approach would be to start with the major currency pairs that have a higher volume of trading, which makes them much more liquid and potentially less volatile.

Know your limits

Don’t invest more than you can afford to lose. Every trading bears some risk, but Forex can turn out to be too risky if you make unreasonable decisions.

In the beginning, stick to the compound strategy, piling up your profits little by little. While growing your funds slowly but surely, you learn on the way, and then you can try some riskier moves.

Control your emotions

It’s easier said than done. However, you must; if not, then at least learn to focus and streamline them properly. You must trade with a clear and cool head. When you recognize that frustration is overwhelming you, stop trading until the next day or later.

Final Thoughts

Determine how much time you have available for trading daily. Will you trade full time or will Forex trading be your hobby? Define goals according to the capital you can afford to invest.

Keeping a trading diary is suitable for beginners. It helps you have better control over the money.

Take a closer look at this trade market. In the Forex market, every day, trillions of dollars are traded in the whole world.

There is no specific location of the Forex market as it an electronic network of brokers and bankers.

What is Forex Trading?

It is an electronic network of buyers and sellers that exchange currencies. Buyers and sellers exchange money at an agreed price.

The banks and individual companies transfer the money from one currency to another. For example, pound to dollar, etc.

Nowadays, people prefer Forex trading to gain profit. The volatility of Forex trading makes it more attractive. Forex trading enables a person to get more profit.

Currency Market Working

Forex trading spreads over four big countries that are Tokyo, New York, London, and Sydney. The global network of Forex traders is under these centers.

Without the share of currencies, Forex trading does not take place. The OTC over-the-counter market is working to exchange currency coins.

Three main types of Forex markets are functional.

- Spot Forex Market

- Forward Forex Market

- Future Forex Market

How does Forex Trading work?

Forex trading work in several different ways the working is the same as all the brokers and bankers are buying and selling currencies.

Mostly the Forex trading is done by the FX broker. With time and a rise in the online market, CFD trading is popular.

In CFD trading, leverage and non-leverage products are involved. The leverage products are more beneficial and enable you to gain more benefits. If the market is going against you, you have to face losses.

Forex Currency Pairs:

The base and quote currency is involved in Forex trading. The first currency is the base currency and the second one is the quote currency. Depending upon the price and value of currencies, each pair has a three-letter code.

Suppose the GBP is the base currency and USD is the quote currency. If GBP/USD is trading, then the value of one pond is 1.35361 dollars.

If the value of the pair increases, you can buy more pairs, while if the value decreases, you can sell the currency pair.

Major pairs: The major currency pairs contribute 80% of forex trading. These pairs are EUR/USD, USD/JGY, GBP/USD, AUD/USD, USD/CAD.

Minor pairs: The minor currencies contain less frequency. These are EUR/GBP, EUR/CHF, GBP/JPY.

What are the spread, lot, and leverage in Forex trading?

The spread is the difference between the two currencies. If you have to buy a pair of a long position, buy it, at a price slightly above the market price. And if a short position, then sells it at a below-market price.

The lots are units of Forex Trading. A standard lot is 100,000 units. The Forex trading moves in standardized currency batches.

At the leverage position, the profit and gain depend upon the size of the trading market. The leverage can maximize the profit and increases the risk of losses

Also: Compare Now | Demo Trading Vs. Live Trading

USD/CAD attacks the lower end of the recent trading range above 1.3000.

US dollar fizzles recovery moves from 10-week low as vaccine hope fades.

Sino-American tension, EU-US trade tussle also challenge market sentiment.

USD/CAD drops to 1.3000, down 0.10% intraday, as sellers flirt with the intraday low of 1.2998 during the pre-European session trading.

In doing so, the pair sellers shrug off recent weakness in the oil prices, Canada’s main export, while highlighting the US dollar’s failure to extend Monday’s run-up.

The US dollar index (DXY) declines to 92.64, losing 0.20% on a day, as risk-tone sours.

The GreenBack gauges marked the heaviest bounce in 12-weeks the previous day as traders cheered Pfizer-BioNTech came out with the 90% effective rate of the coronavirus (COVID-19) Also propelling the vaccine hopes were the comments from the US Health Official Dr. Anthony Fauci who expects Moderna to reach the same league.

However, a halt in the Chinese vaccine trials joins the US sanctions on Beijing’s diplomat over the Hong Kong issue, initially challenged the risk-takers.

The cautious sentiment gained additional support from American dislike for the European tariffs of goods worth of $4 billion.

Amid these plays, US stock futures part ways from Monday’s heavy upside whereas US 10-year Treasury yields also lose four basis points (bps) to 0.91% by press time.

Further, WTI prints 0.50% intraday losses while wavering around the $40.00 threshold. The energy benchmark weighs as the covid resurgence weighs on oil demand.

That said, China’s downbeat prints of October month inflation data and US President Donald Trump’s repeated efforts to keep the Republicans in power in the Senate also weigh on the pair.

While the US dollar declines become the major cause of the USD/CAD weakness, bears may cheer the technical breakdown and a shift in the risk sentiment for fresh impetus as stated by FP Markets.

Technical analysis

A clear downside past-200-week EMA and an ascending trend line from May 2018, amid the absence of oversold RSI, favor the USD/CAD bears.
Additional Important Levels

Today last price 1.3001
Today daily change -12 pips
Today daily change % -0.09%
Today daily open 1.3013

Trends

Daily SMA20 1.317
Daily SMA50 1.3203
Daily SMA100 1.3303
Daily SMA200 1.3542

Also read: Compare Now | Demo Trading Vs. Live Trading.

The Forex market is becoming increasingly popular thanks to its liquidity and daily volumes of trading. The opportunities are endless. If you are searching for new ways to invest your money and have been thinking of Forex, we give you the best tips to help you start.

Know the markets

The Forex market is just one of many financial markets. All of them are connected. The fluctuation in currency prices is mainly linked to the fluctuation in prices in the commodity markets.

These markets are all susceptible to speculations from central banks and other financial institutions.

To succeed in Forex trading, you need to have at least some basic notions about all of these in order to understand the news events, recognize the opportunities and market trends, and make sound financial decisions.

Make a trading plan

After you have defined the capital you want to invest, you need to prepare your forex trading plan. It should include the following information:

when you want to exit the market, how much time you are willing to spend trading, your research regarding the pair you are interested in, your risk management strategy, and your trading strategy.

Having a good plan is half of your success. When we say the plan, we think first of all of a realistic and healthy motivation. Don’t be greedy, thinking you are going to buy a yacht and a Lamborghini after just a couple of days of trading.

Selecting a Forex broker

Selecting the right forex broker is vital. The best brokers are, first of all regulated, transparent regarding fees and commissions, have efficient customer support, and offer you training.

They need educated and informed clients because it’s in their best interest. If you trade successfully, they also make more profits.

Practice on a demo account

You cannot start trading out of the blue. Fortunately, many forex brokers offer you training and are ready to help you with all aspects of forex trading before you decide to trade for real. In that way, you can feel the market and finally decide which currency pair you want to trade.

What instruments to use to invest in Forex?

The best way for trading forex at the beginning can be done through CFDs These are speculative products that allow you to trade the future trend in the price of a currency pair without having to own and without delivering physical currency.

What is the easiest pair for a beginner to trade?

The easiest forex currency pair to trade often varies from trader to trader. It depends on their attitude toward risk and interests.

A good approach would be to start with the major currency pairs that have a higher volume of trading, which makes them much more liquid and potentially less volatile.

Know your limits

Don’t invest more than you can afford to lose. Every trading bears some risk, but Forex can turn out to be too risky if you make unreasonable decisions. In the beginning, stick to the compound strategy, piling up your profits little by little. While growing your funds slowly but surely, you learn on the way, and then you can try some riskier moves.

Control your emotions

It’s easier said than done. However, you must; if not, then at least learn to focus and streamline them properly. You must trade with a clear and cool head. When you recognize that frustration is overwhelming you, stop trading until the next day or later.

Final Thoughts

Determine how much time you have available for trading daily. Will you trade full time or will Forex trading be your hobby?

Define goals according to the capital you can afford to invest. Keeping a trading diary is suitable for beginners. It helps you have better control over the money.

Also read: Compare Now | Demo Trading Vs. Live Trading

Now, it’s not a lie that almost everyone wants to be involved in Foreign exchange.
Because Forex trading is HUGE these days.

Due to its popularity, Forex trading is in the spotlight for online trading. So, if you want to get involved in Forex then I think the first thing you should do is to acquire a vast amount of knowledge about the Foreign exchange market.


And you can gain these pieces of knowledge by going to several types of Forex blogs, Forex media websites such as TopAsiaFX, watch some videos on youtube, etc.

Moving on, when you have acquired enough knowledge about the Foreign exchange market such as the currency pairs, time frames, trading platforms, margin, leverage, buy-sell, stop-loss, etc then what you’ve to do is-

Choose a Category

To be able to trade currencies, you need a platform. Therefore, choose a company that offers Forex trading broker is required.
However, you should do enough research to find out which companies will be able to provide appropriate services and with a proven track record.
To-Do This Effectively, Consider The Following Factors:

You have to choose the type of account you want to retain.

A trading platform in collaboration with the bank — offers different privileges depending on the type of deposit account you have — with just a few minor tweaks. This type of account offered by brokerage firms to micro, mini and full size.

Your options to your account will depend on how much money you are willing to invest in. Since you’re just starting out, you may want to be conservative at first.

With this, you might want to look for a brokerage company that received the smallest minimum account balance. You need to find a broker leverage requirements. It is about the ratio of margin required on the value of the currency being traded.

Similar to after-sales service by the ordinary company, you also need to consider the customer service that the company can deliver after you spend your money on them.

Depending on what country you are from or where you are trading, you also need to consider whether the brokerage firm regulated or not.
Working in a regulated environment provides an additional layer of protection, knowing that the government was looking after the operations of these companies.

Understanding the Global Economy

Making money from Forex is all about having talent accurately predict how the global economy is moving.

These predictions must be supported by your knowledge of current standing and the possible directions of the economies of many countries (whether growth or decline), as well as the Gross Domestic Product (GDP), among others.

Practice, practice, practice


It’s a whole lot different world out there in Forex trading. It’s hit or miss because of the very high risk. Therefore, you need to familiarize yourself with how it works.

A good thing, a different brokerage firms offer simulated account where you can study the dynamics of trade without the risk of losing money in the process.

And of course, it’s a completely different scenario in the sense that you might be more aggressive with a demo account because there is no real money involved.

However, the idea here is to learn how things work. Whatever your strategy will be, later on, you’ll just want to cross the bridge when you get there.
In the end, Forex is not so very complex as many mentors describe. If you study it or do some research on it then you’ll find it quite simple.
Have a great TRADING career.

What is the future of automated trading? I don't think there is one full answer that can cover the whole question, so let's break down into some areas that we can expect to influence automated trading going forward.

Rise of the robots

Algorithm trading is gaining traction in the main demand-side platform beyond what we have seen before, and a large number of third parties have sprung up in this field.

We know that machines generally do not have the context of future events and do not have brand sensitivity at their core, so the combination of people and machines will surely determine how automatic commerce develops in the coming years.

Blockchain

Whenever someone has a complaint with automated trading (and many do it!), there is often a lack of financial transparency and the volume of ad fraud.

Blockchain promises to disrupt many industries and that could be the answer to the challenges of financial transparency and advertising fraud.

 These are the early days, blockchain is complex, but we should expect some involvement from blockchain companies in the automated trading space in the coming years.

Digital Triopoly

Amazon, Facebook, and Google ... where to start? Three giant companies facing regulatory pressures and anti-competitive behavior see the growth of advertising dollars through their technology and owned & operated properties.

80% of all new ad dollars go to Facebook & Google, and Amazon gets strength - what is the role of these players compared to those who appear to be more supportive of the open web? Time will tell this one, but all three cannot be ignored.

Service layer

Who really pressed the button? Who has the strategy? Who has a contract? Who are partners of level 1 versus level 2? Are consultants making progress in the media agency business model?

There have been many disruptions in the service layer in recent years - we can only expect more to come when the parent company reunites employees and their companies to make them more integrated, and independent specialists continue to grow into new areas.

Consultation increases the ability of the media behind other engagement with brands, but are they strong enough to compete?

The first consumer

GDPR, 3rd party cookies that are blocked at the browser level, ICO penalties, and many more all make consumers regain control of their data, rather than the fast and loose sharing that has happened historically.

The ability to carry out commercial transactions with known consumers is increasingly difficult, and the need for explicit approval is very important. This impacts many companies in the space - especially the targeting and measurement providers.

Brands once went to automated trading for 'the right user, the right time, the right message for the right price', now there is a big question mark about how accurate this is in the future.

There are many other areas that can affect the future of automated trading that I haven't even touched on, and the good news is that on October 7 in the Automated Trading Debate there will be a number of expert opinions representing the breadth of the industry. Make sure to get your ticket so you don't miss it.

So, what are your concern about breaking down the future of automated trading? Please let me know.

Numerous individuals enter the Forex showcase, not by any stretch of the imagination to understand what it is or why they are notwithstanding needing to exchange. You may have heard that you can profit and that there is a day by day turnover of over $3 trillion.

What is the outside trade showcase?

The outside trade market is the world’s biggest money-related market. With a turnover of over $3 trillion consistently, it’s nothing unexpected that it far outperforms the financial exchange.

Numerous individuals are as yet unconscious of what it is and what they are passing up as far as to a venture.

The incredible thing about the Forex showcase in examination with the securities exchange is the straightforwardness and the capacity to make cash regardless of how the economy is going.

The outside trade market enables you to pick two distinct monetary forms to exchange and when the market goes to support you, you simply sell the cash that you possess for the other to make a benefit.

At that point when it turns back the other way, you can sell an ideal back and make much more. With the financial exchange, when the economy is down or crashes you can lose everything.

Additionally, with innovation where it is today, the Forex market has mechanized exchanging frameworks that enable individuals to make the correct exchanges even while they are dozing.

It is a rewarding business sector with trillions of dollars experiencing it every single day.

With the outside trade advertise, it is likewise imperative to locate the best Forex handle that will enable you to take advantage of the chance and it will guarantee that you comprehend what you are doing as such that you can be as fruitful as would be prudent.

For what reason do as such many exchange money?

There is a wide range of reasons why individuals are swarming to the Forex advertise. What numerous individuals don’t comprehend is that for quite a while, this market was not accessible to ordinary regular individuals that liked to put cash in as such.

The remote trade market was truly made for huge companies or banks that should have been ready to exchange their very own money for another in light of the fact that they were doing work globally.

It was intended for business purposes, less for individual increase and venture. The cutting edge Forex advertises as we principally realize today didn’t generally create until the 1970s, so it is still moderately new.

Rewarding chance

The Forex market is a lot simpler than numerous other speculation openings and a great many people need to accomplish something that they have an inclination that they can do. Cash exchanging is something that anybody can do, regardless of what your monetary comprehension is.

Up until this point, it is a genuinely new market that many areas yet finding. However, what is the reason that draws the vast majority into the market? It is a result of the mass measure of cash experiencing it and the way that it is an overall market.

At the point when individuals can see quite a lot of cash being exchanged and made by individuals, and the idea that everybody on the planet is doing it, it gives a more prominent conviction that all is good.

The Forex market isn’t going anywhere, regardless of what the economy does and notwithstanding when the economy is route down, numerous individuals are as yet profiting inside this market.

The most effective method to start exchanging

When beginning in the Forex trading, there are a couple of key things that you need to investigate and have before you can be genuinely prepared to exchange.

Here we need you to be as simple as could be allowed with the goal that you can have an effective time when you are exchanging.

The principal thing you need to do so as to start exchanging is to learn. Begin by learning the market and the wording and what everything means and how they work. One way that you can do this is through your very own examination.

Another proposal is to purchase a preparation program that will disclose to you the basics that you have to do.

So, was it helpful? Now I would like to hear it from you.

Most Forex trading brokers usually go out of their way to lend funds to traders, allowing them to grow their investments. Traders have the freedom to determine how far they can go with minimal capital.

Sometimes leverage in Forex trading works very well; at other times it can make your business breathless. All we can say is that it can be a double-edged sword.

However, if you apply certain money management rules correctly, you can quickly avoid any risk, get large amounts of money, and increase your return on investment.

What is leverage and how does it work?

This involves traders borrowing money from their respective brokers to increase their profit margins. The fact that traders have this advantage is what makes the whole concept of forex trading popular.

In order for brokers to use leverage, there needs to be a minimum deposit on a trader's account, usually called a margin. Using the initial margin requirements, suave trade can build their investment to a higher scale.
There is a simple formula that is used to calculate the initial margin. You only divide the total transaction value by the amount you want.

This is a perfect example; You are asked to deposit 1% of the total transaction value as a margin. Your intention is to trade using a standard lot that is usually equivalent to $ 1000 000. In this case, the lot margin required is $ 1,000.

You simply divide (100,000 / 1,000) which represents a ratio of 100: 1. This formula can be applied to other margin requirements to allow you to generate margin-based leverage.

How Leverage Affects Forex Trading

Basically, every margin-based leverage is only proportional to the maximum amount of leverage that traders can use. But what you also have to pay attention to is that real leverage can sometimes be different especially if a trader does not use their entire account as a margin for each of their transactions.
The most experienced traders know how important it is not to use all of their margins available at that time. You can only do it when you know that the risk is almost down to zero.

For example, a trader can easily determine the potential loss of funds by linking the number of risks that come with the number of pips available. The general rule is that every loss cannot exceed 3% of trading capital.

In addition, leverage needs to be significantly reduced if the potential loss is predicted to be much higher based on a trading account.
A trader who is just starting to be in the dark doesn't know the abundant risk of proper leverage. An example is if you decide to use all available leverage without considering the amount of money in your account.

Simply put, non-anchored leverage can delete your trading account in an instant.
You also need to consider the fact that the higher the leverage you take, the higher the transaction costs.

So when you choose a broker, one of the most important things you need to pay attention to is what is the transaction cost for your trading capital.

Can You Limit Risk?

The answer is yes. You can implement various risk management rules and techniques to eliminate risk. As an example;
- You must be fully aware and ready to face all the risks that come with influence.
- You then need to consider how much you can take risks without having to burn your finger.
- Also, check the amount charged as a transaction fee. This allows only for what you can afford when it comes to using it.
- Apply to stop order rules that allow you to move stops so you can break even.

Conclusion

It is always important to calculate the risk based on what is available in your merchant account. Unused loans can easily eat your trading account to be negative.

Basically, the only funds you can speculate on are the types of money that represent the type of risk you are prepared for. These are funds that you can lose without sacrificing your business, and overall finance.

Crypto trading is often considered to be similar to Forex, or foreign exchange trading. Forex, like crypto, involves trading currencies. However, there are some key differences between the two.

Forex trading is a big and established practice, while crypto trade is a newcomer to the world. Forex often involves intermediaries, brokers, and other institutions that receive payments at every step of the trading process.

The lack of intermediaries is one of the biggest drawings of crypto trading. And another important point between them is the liquidity available on Forex, versus the lack of liquidity in crypto - once you get away from the most common coins. And of course, there is security.

Let’s look at the differences between them in detail.

Swiss Franc vs. Bitcoin

Forex trading is very large. The average daily turnover rate for Forex is trillions, with $ 5 trillion USD traded on Forex in 2016. Compared to that, the most significant coin in crypto, Bitcoin, only has a turnover of $ 1 billion USD.

BTC trading is not even as big as Forex trading in the Swiss franc, responsible for 5% of trading volume and $ 243 billion USD in daily turnover.

However, unlike Forex, crypto trading can show returns of more than 70%. High returns almost never occur in Forex trading.

Because Forex trading is very well established, this is an orderly and mature market. This means that brokers are everywhere in the Forex world.

From currency exchange brokers to exchanges, and other hidden costs and costs, Forex trading can be expensive, even before a trader makes a dollar profit.

This means that Forex traders need to have considerable capital before they can trade. Institutional involvement is another important aspect of Forex trading.


Stability and Volatility

Forex also does not have the same volatility in crypto, making it difficult to take advantage of small differences in exchange rates. However, this is complemented by easy-to-obtain liquidity benefits.

In other words, it is quite easy to trade certain currencies with other currencies, such as trading US dollars for Nigerian naira. Such orders tend to be filled almost instantly.

Because Forex has a high daily turnover, there are many pairs that exist even if they are small currencies.

Foreign exchange liquidity also ensures that even large trade will not change the asking price of a particular trade too much. For crypto trading, large trade often has a large impact on prices.

Although crypto prices can change for large orders, especially when dealing with altcoin and less-known tokens, there are almost no barriers to entry.

It’s easy to start crypto trading, and many online platforms allow users to jump and start trading practically instantly.

Costs are usually far less than Forex fees, and the lack of intermediaries means that there are no hidden fees.

Crypto Volatility also says that large daily swings are possible and common, meaning that it is much easier to buy at lower prices in the morning, and sell high at night.

Security and Regulation

There is one more major difference between the two. The difference is security. Cryptocurrency is a relatively new technology, with all the risks associated with new technology.

There are many stories in the news about cryptocurrency being hacked, stolen, or just lost due to interference.

 Because of the enduring nature of the blockchain, such actions are very difficult to reverse, though not impossible.

There are also very few or no rules regarding crypto trading. This can make traders open to fraud and fraudulent behavior without the help method. Having funds that are hacked and stolen is not a pleasant experience.


Forex has much regulation across the world. So, it’s safer now.

Which one is better?

Both Forex trading and crypto trading carry their own pros and cons and their own risks and rewards. In general, Forex trading is more stable, more protected and highly regulated.

Crypto trade carries the promise of a far greater return than Forex, at the expense of Forex stability.

This means that smart and skilled traders with a great interest in risk can realize profits that are far higher in crypto than they can in Forex trading, while not dealing with the same institutional involvement.

Both markets are similar, but only in the sense that they are a form of electronic currency trading. Forex liquidity versus crypto volatility means that traders will need a completely different trading strategy for both.

So, this was the main differences between Forex and Cryptocurrency and if you have any topic in mind that you want me to cover for you then please let me know.

Forex online trading can be defined as currency speculation whereby one person trades one currency against another with the expectation of making a profit.

Profit is gained by buying a currency that gains value in a buying trade and selling a currency whose price falls in a sales business. Losses occur when the opposite occurs.

According to Silah Obegi - an expert in Forex automated trading and also a director at the Nairobi School of Forex, online Forex trading can serve as an investment vehicle to create a secondary income for most individuals. It can also be the main source to take it seriously as a full-time job.

"Forex can be compared to the stock/share market and you can equate a currency for a country to action for a company, the political situation of a country to the corporate governance of a company and the economic data of a country with financial statements for a company."

"Using this comparison, the Forex trading approach is partly identical to that of stock trading. A Forex trader can easily become a stock trader and vice versa, "says Silah."

Mr. Silah believes that there are different approaches to trading the Forex market that must be followed. They include:

Technical analysis

This is the most preferred approach by most traders. It consists of analyzing the past and recent behavior of the current price trend in order to predict where the price may evolve.

This trading approach encompasses various individual trading methods to detect trading opportunities.

Fundamental analysis

This type of approach involves the analysis of a country's inflows and outflows, which are generally influenced by the central bank's currency decisions, the geopolitical situation, and economic news and data.

 When a country has strong monetary policies, a stable political situation, and positive economic news, its currency is likely to gain in value. The opposite is also true.

Automated trading

This is also called algorithmic trading. This involves writing your trading ideas on a computer program called algorithm used to make trading decisions, in whole or in part, on your behalf.

A trader typically leases a cloud server with a hosting service provider, activates automated trading systems, and lets them trade on your behalf. When these systems detect a trading configuration, they execute a buy or sell transaction and manage it in accordance with established rules until it is closed with minimal to no human intervention.

Online Forex trades are regulated by the Autorité des marchés financiers under the 2017 Rules on Capital Markets (online currency trading).

"Under the regulations, foreign currency brokersmust maintain a minimum paid-up capital of between 30 and 50 million shillings, while portfolio managers are required to maintain a minimum paid-up capital of 10 million shillings, among other requirements."

Before embarking on Forex Trading, it is necessary to know Forex markets well, to know how to make analyzes using different approaches and to make profitable trading decisions.

The Nairobi School of Forex Trading, for example, offers value-added services for online currency trading in Kenya, including a comprehensive course for individual and institutional clients.

The Forex trading course provides beginners with the tools and skills needed to trade profitably, consistently and sustainably.

The directors have a combined experience of more than 20 years and they have trained more than 100 students in their offices and more than 1000 through seminars and hackathons in Nairobi.

Topics covered include introduction to Forex Trading, local and global Forex regulations, selecting a broker to meet your trading needs, navigating trading platforms, trading analysis (technical, fundamental and sentimental) ), automated trading, fund management, business plan among other topics.


We have also developed more than 25 automated trading tools to complement the manual trading of our students, "explains Silah.

He adds that during the training period, students learn and practice demo accounts, which allows them to become familiar with real markets with virtual money.

However, there is usually a huge gap in the transition from demo trading to live to trade because of the emotional attachment associated with real money.

To bridge this gap, the school introduced learning and practice in real accounts of 50,000 shillings ($ 500) managed by Meta Capital Limited and EGM Securities.

Live practice accounts are opened with EGM Securities under Meta Capital and students receive login information to the accounts with which to practice.


Kenya's capital markets regulator estimates that about 50,000 people, including brokers, brokers and fund managers, operate and primarily use offshore platforms that are not monitored by the Kenyan authorities.

Kenyans who have gained in-depth knowledge of technology are increasingly inclined to adopt new products, but this can expose Kenyan currency to volatility, money laundering or investor credibility.

In order to streamline online Forex in the country, capital market authorities stepped up their efforts last year to regulate the unlicensed broker sector.

Paul Muthaura, director of CMA, indicated that there are several natural and legal persons carrying on the business of foreign exchange broker or fund manager without the corresponding authorization of the Authority.


So was it helpful? Now I would like to hear it from you.

Forex trading has now become a common profession all over the world. And the traders follow many trading styles in order to gain profits. Some of the best trading styles are listed below.

Scalping

This very short-term active trading style involves rapid market entry and exit in order to make small profits. Scalpers need brokers offering the tightest trading spreads possible.

Day trading

This intraday style involves the closing of all positions at the end of your trading day. While this style can encompass a wide variety of strategies and business plans, you avoid the added risk of holding overnight positions.

Most active day traders benefit from a broker with tight trading spreads.

Swing Trading

The goal of this momentum trading style is to buy low and sell high, whether you need to keep overnight or close overnight.

Alternative traders often use technical indicators such as the Relative Strength Index (RSI) to signal when the exchange rates are oversold or overbought and may move in the opposite direction.

They can also use the support levels to buy in advance and the resistance levels to sell in advance. Because they tend to trade less often, alternative traders do not need the tightest trading spreads from their broker but must be able to maintain overnight positions.

News Trading

This set of fundamentally based trading strategies generally involves taking advantage of the volatility that press releases can create in the foreign exchange market. Most trading information positions are taken intraday immediately before and after press release events.

Since sliding orders can be a problem at such times, a broker guaranteeing order levels may be advantageous for traders. You will benefit from a broker who will provide you with a flow of financial information of the highest quality, which will allow you to get the latest news as quickly as possible.

Trend Trading

You can take advantage of the directional movements extended in the currency markets and generate impressive returns with trend trading.

Trend traders use quotation marks to protect their accumulated profits. Trading spreads are rarely a problem for this type of trader because they rarely go outside the market.

Carry Trading

This long-term trading style involves capturing interest rate differences between two currencies by choosing a high-yield, short-term currency for a lower-yielding currency.

They also like to receive foreign exchange gains. This style of trading is not very sensitive to bid/offer spreads but requires an attractive roll out or swap pricing.

Hi everybody. Nowadays, Bitcoin is very famous and a familiar term and all bitcoin lovers want good advice to earn more money through cryptocurrency (Bitcoin) trading. And today, I'll give you 10 great tips for making more money with Bitcoin trading.

Since the beginning of 2017, cryptocurrency trading is one of the most discussed cases in financial hemisphere.

Crypto-currency trading, such as Bitcoin, can potentially generate returns in a portfolio, potentially negatively impacting trades in the potentially obsolete stock markets.

We need to approach trade with hesitation, as well as all the financial processes that take place on the market because it is undeniable that trade is an opportunity and that it is doing well and can mean an almost infinite wealth, the potential of the opposite is also important.

This means that if it is possible to exchange cryptocurrency and get rich, it is also possible that while trading, you lose substantial amounts of your wallet. Cryptocurrency trading should be taken very seriously if you invest a lot of money in your process.

Here are the top 10 tips for making the most money in Bitcoin trading.

Reduce your losses - use stop loss and make sure you have exit strategies on a position.

Use margin (responsibly):Many stock exchanges, including most of the stock exchanges listed in this guide, allow margin trading, which allows you to trade bitcoins with more money than you actually have. This means you can make money faster, but it also means you can lose money faster. Use this margin responsibly.

Use programmatic strategies - if you learn to code, you can open a whole new bitcoin exchange field. With some algorithms that negotiate over finite parameters, are here is a plethora of different opportunities for analysis and execution that are possible when it comes to programmatic trade.

Learn different methods - by deepening your knowledge of business strategies, utilities and methods, you will only help you get the most out of your Bitcoin trading.

Practice using demo accounts - almost all stock exchanges, especially those that support CFD trading, implement "demo" accounts, which allocate imaginary money to your trading portal with which you can play . In this way, you can put your strategies into practice with fake money before perfecting it and replacing it with real money.

Size your positions accordingly - make sure that every time you trade, you put the right amount of money into a transaction, but you also keep an eye on the specific sizing methods.

Stay up-to-date on updates and technological developments - Bitcoin and cryptocurrency trading uses tools and different types of technologies that are constantly evolving. Try to stay abreast of new tools, updates, and published frameworks.

Read the company's news - prices and volumes of cryptocurrency exchanges can be heavily dependent on news and company news. If Ripple publishes an announcement that the XRP will be used as the main currency in Santander, the prices will definitely be on the rise. Staying up to date on this news is important for the trade.

Do not bargain emotionally - One of the biggest mistakes a trader can make is to immediately exchange emotions or feelings. This can lead to significant losses and irrational movements; the best traders negotiate strictly without emotion.

Find the best brokers for you - Each person has their own trading style and individual methods. Find the best-created brokers for yourself.

So, in the end, I hope these 10 incredible tips will be useful to all those who are now involved in Bitcoin trading. And let me know that these tips are useful for you or not.