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  1. Re-quotes usually occur when prices have moved away from the levels displayed on the trader’s platform screen. Re-quotes can occur for a number of reasons. Sometimes, there may be a delay in data transmission as a result of poor internet network. At other times, fast-paced market action can be so rapid that even when data transmission is ok, the price of the asset would have moved at the time of execution. The only way to avoid re-quotes is by using a broker with direct market access, such as ECN brokers. These offer prices from several liquidity providers with greater market depth so you can be sure your orders are always executed.
  2. Range trading is based on the fact that prices form channels independent of whether prices are trending upwards or downwards or sideways. It assumes that 80% of the time, the candlesticks will bounce up from lower channel trendlines and retreat from upper channel trend lines. By selling at resistance and buying at support levels, a trader may be able to profit from these moves in the market. Pivot points also form a basis of horizontal range trading, as opposed to use of ascending channels for uptrend range trading and descending channels for downtrend range trading.
  3. The PIP is the smallest movement of a financial asset to the last decimal point of the price quote. For example, if the price of the EURUSD moves from 1.3290 to 1.3297, we say the currency pair has moved 0.0007 points or 7 pips (1.3297 – 1.3290 = 0.0007). The value of the pip depends on the lot size used to execute the trade. The value of a pip for a Standard Lot is $10, while the value for a mini-lot is $1.
  4. Pending orders are used when appropriate conditions for a favourable trade do not exist at present market levels, but are likely to do so at a future time. In these conditions, a trader can decide to set a pending order which will be automatically executed if the market gets to that level. For instance, a trader may be looking to sell a currency at a resistance level, but the price of the asset is still some distance away from his preferred point, and presently heading upwards. If he uses a market order, the trade may keep advancing against his position and leave his account in jeopardy of a large draw-down or being stopped out entirely. But by using a pending order such as a Sell Limit order set to the resistance level, his trade is executed at a point where the trade is more likely to succeed.
  5. The Non-Farm Payrolls (NFP) report is a part of the employment data released by the US Bureau of Labour Statistics on the first Friday of every month. It is a highly-watched economic indicator as it provides very strong information about the state of a nation’s economy. If more people are employed in the private sector, it shows that the economy of the nation is strong. Bad employment figures are a direct consequence of a weak economy. When the global financial crisis hit as a result of the collapse of the US sub-prime mortgage market in the US, the multiplier effect hit home and caused many businesses to lay off workers and reduce wages, resulting in poor NFP figures for many months at a stretch. The NFP represents about 80% of workers whose output brings about the total GDP of the US, and it helps policy makers evaluate the state of the nation’s economy and decide on economic policy.
  6. Traders can only trade when the markets are open for business. These times are referred to as market hours. Market hours differ from market to market. The stock market is only open for about 6 hours a day, 5 days a week. The forex market is a 24 hour market, with the market hours divided into 3 main zones; Tokyo, London and New York time zones.
  7. Hedging is used if the outcome of a trade is not assured, or if a transaction becomes too costly as a result of exchange rate differentials. In such an instance, a trader may decide to take a contrary position in another market or employ another kind of trade in reverse of the original one in order to cover up any losses incurred on the first trade. Hedge trades are done in such a way that if the original trade is a winner, the payout is higher than the second trade used as the hedge, and if the first trade is a loser, the hedge trade will cover the losses.
  8. Fundamental analysis is the primary driver of the forex markets. This is because the figures released for the economic indicators will affect the investment climate and appetite of traders for the affected country’s currency. Millions of individual and institutional traders watch these economic indicators and when the figures are released, they produce an immediate market bias for the affected nation’s currency. This bias can be positive, (sending the currency value upwards) or negative, crashing the value of the currency. Traders usually develop a bias because fundamental analysis answers the following questions: is the economy of the country in question expanding or contracting? What parts will the country’s policy makers be looking at, and what actions will they possibly take? What parts of the economy is doing well or in bad shape? These questions help traders determine if that country’s currency is worth holding, and they respond accordingly after conducting the fundamental analysis.
  9. Certain economic parameters are used by economics and politicians alike to determine the state of a nation’s economy. Some of these parameters include employment reports, retail sales, consumer and producer inflation figures, the Gross Domestic Product (GDP), interest rate decisions and manufacturing data. Economists look at the economic indicators and make prediction of what the figures will be every month. The extent of conformity or deviation of the actual figures from the consensus reached by economists in their predictions, affects the sentiment that traders have for the currency of the affected country, leading to either an increased demand for the currency or reduced demand. The extent of demand will ultimately affect the value of the currency vis-à-vis other currencies. A calendar of these indicators is released every month for the benefit of everyone concerned, including forex traders. Economic indicators are known colloquially as forex news.
  10. In the financial markets, traders can buy or sell securities in two ways: directly from the liquidity providers (banks) through the dealing desk of brokers When buying directly from the liquidity providers, traders get access to pricing and deals directly. When buying through the dealing desks, traders buy indirectly, as the brokers operating dealing desks buy from the liquidity providers and resell to the traders. In this instance, the dealing desk broker is not operating as a broker but as a dealer. Dealing desks have implications for traders as traders are offered pricing at slightly marked up rates. Dealing desks have also been implicated in some pricing abnormalities such as stop hunting, slippages and re-quotes.
  11. Day trading is often seen in the light of normal employment hours, where workers clock-in in the morning and clock-out at the end of the trading day. Day trading is the hallmark of speculators, who use leverage in order to maximize the relatively small market price fluctuations that occur during the trading day. The volatility of markets such as the forex markets allows traders to open and close positions in a matter of hours. Day trading is done by the majority of individual traders in the market, hence contributing to the great market liquidity that the forex market boasts of.
  12. Channels can be used in technical analysis to predict the range at which prices will peak before retreating, and the range at which prices will fall before bouncing up. Channels can form in an uptrend (ascending channels), in a downtrend (descending channels) or in a consolidation (horizontal channels). The pivot points of S1, S2, S3, central pivot, R1, R2, R3 all form horizontal channels which can be used to range trade at various price levels. A break of a channel on the upside is a buy signal, and a break of a channel to the downside is a sell signal. A channel tool exists as a technical indicator: the Donchian Channel.
  13. Candlesticks are simply a way of representing price data in a way that traders can easily interpret. Individual candlesticks only give an indication of what is happening in the market in the present time, but candlestick patterns (two or more candlesticks) can be used as determinants of future price action and are a great tool of technical analysis.
  14. As of January 2012, foreign exchange market accounts for more than $4 trillion in average traded daily value, making it the largest financial market in the world. No central marketplace exists for the forex market; rather, traders must conduct their trading activities through forex brokers. An increasing number of forex brokers are available, and traders should take the time to research, evaluate and compare options to find the broker that best fits their needs. This guide will explore the various important considerations when choosing a broker in today’s competitive forex marketplace. (In this article we’ll look at five considerations when choosing a forex broker. Broker Basics Regulation. A reputable forex broker should have rules, programs or services to protect the integrity of the market. They should protect the public from fraud, manipulation and abusive practices related to the sale of futures and options and to encourage open, competitive and stable futures and options markets. In the U.S. brokers would be registered with the U.S. Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant and Retail Foreign Exchange Dealer, and will be a member of the National Futures Association (NFA.) A professionally looking website does not imply or guarantee that a broker is reputable; reputable brokers will state these affiliations on their websites, typically in the “About Us” section and on each web page. Each country outside of the U.S. has its own regulatory body which traders can research. Location. In the Internet age, there may not be any reason to visit a brick and mortar office, but the location of a forex broker remains a consideration primarily because of regulation and potential educational opportunities. A broker that is located in a country that provides little regulation may be a riskier place to open an account than one located where regulatory compliance and enforcement have a strong presence. A trader who deals with a broker that is regulated has some recourse in the event that there is a problem with the broker: the trader can contact the appropriate authorities to file a complaint and seek a resolution. In addition, the location of some brokers (such as those with regional or local offices) may allow traders to attend in-person training seminars or workshops that can assist with learning trading concepts. Year Founded. When a broker became established may help confirm the professionalism and durability of the broker. There have been instances where fly-by-night brokers have either acted in a fraudulent manner or simply had poor business practices, and ended up closing shop after a short stint. While all brokers have to start out as new companies, those who have been around for a few years or longer gain credibility since a fraudulent or badly managed firm is unlikely to remain in business. For U.S. Clients, they should accept U.S. Clients. In response to increased regulation brought on by the Dodd-Frank Act, many International Forex brokers have stopped offering services to U.S. clients. Foreign affiliates of U.S. based brokers can service U.S. retail customers only if they are registered with the CFTC and comply with the new CFTC leverage rules. Currently, the maximum leverage for U.S. retail clients is 50:1 for major currencies, and 20:1 for minors. Restricted leverage ratios are intended to protect both firms and clients from unnecessarily large losses resulting from over-leveraged positions. Due to concerns over possible legal issues, many brokers have opted to simply drop out of the U.S. retail market. Platforms & Account Details Trading Platform. The trading platform is the trader's portal to the markets. With this in mind, traders should ensure that the platform and any software is easy to use, visually pleasing, and has a variety of technical and/or fundamental analysis tools. Perhaps most importantly, trades should be able to be entered and exited with ease: a well-designed trading platform will have clear buy and sell buttons, and some may even have a "panic" button that immediately closes all open positions. Figure 1 shows an example of an order entry window that has clear, easy-to-use order entry buttons. A poorly designed interface, on the other hand, could lead to costly order entry mistakes, such as accidentally adding to a position rather than closing it, or going short when a long trade was intended. Other considerations include customization options, order entry types, automated trading options, strategy builders, backtesting and trading alerts. (Learn how to set each type of stop and limit when trading currencies. Typical EUR/USD Spread on Standard. Brokers typically make their money on the spread; that is, the difference between the bid and the ask price. A EUR/USD quote of 1.3943 - 1.3946 has a 3 pip spread. That means that as soon as a market participant buys at 1.3946, the position has already lost 3 pips of value since it could only be sold for 1.3943. Typically, the majors, which include the US Dollar/Japanese Yen (USD/JPY), the Euro/US Dollar (EUR/USD), the US Dollar/Swiss franc (USD/CHF), and the British Pound/US Dollar (GBP/USD), trade with greater liquidity and tighter spreads, but the various brokers can determine the spread for each currency pair. A typical spread for the EUR/USD currency pair traded on a standard account might range from 1-2 pips. Many brokers, however, reward their standard account clients with tighter spreads, and some offer premium accounts with even more favorable spreads. Typical EUR/USD on Micro. Since micro accounts are the smallest accounts, brokers may utilize a wider spread to try to make money. While the spread varies from broker to broker, forex traders could expect to see spreads of 2-3 pips, though some brokers do offer the same spreads on both standard and micro accounts. In addition, some brokers state in their fine print that during times of increased market volatility, such as during the release of important economic or political news, the spread on micro accounts for certain pairs can be raised. Number of Pairs Offered. While there are numerous currencies available for trading, only a few get the majority of attention, and therefore, trade with the greatest degree of liquidity. The majors (USD/JPY, EUR/USD, USD/CHF, and GBP/USD) tend to trade in more predictable movements and ranges; however, many more currency pairs are traded. A broker may offer a huge selection of forex pairs, but what is most important is that they offer the pair(s) in which the trader is interested. Demo Account. Most brokers offer free demo accounts so traders can test drive the trading platform prior to opening and funding an account. This is important for several reasons. First, it gives traders the opportunity to use the platform to determine if it is intuitive, robust and user-friendly, or complicated. Secondly, using a demo account allows traders to practice making trades before money is on the line. This is particularly important in regards to entering and exiting trades, as well as placing profit target and protective stop loss orders. Order entry mistakes – pilot error – can be extremely costly, and the best way to avoid these types of losses is to practice with a demo account, with no money on the line. Lastly, a demo account affords the trader the opportunity to learn the subtle tricks of a platform, which can increase efficiency in real trading. Knowing that a simple right-click of the mouse can close all open positions instead of having to go into a menu and sub-menu can save time and money. Maximum Leverage. Forex traders have access to a variety of leverage depending on the broker and the country where the broker is located. Leverage is represented as a ratio; for example, leverage could be 50:1 or 200:1. Leverage is a loan extended to margin account holders by their brokers. Using 50:1 leverage, for example, a trader with an account size of $1000 can hold a position that is valued at $50,000. Leverage works in a trader's favor with winning positions since the potential for profits is greatly enhanced. Leverage can, however, quickly destroy a trader's account since the potential for losses is magnified as well. Because leverage can cause catastrophic losses, it should always be used judiciously. Minimum Standard Account Deposit. Standard accounts are appropriate for experienced and/or professional traders, and trade with a standard lot, or contract, size of 100,000 units. A one-pip change in a currency pair is equal to $10 for EUR/USD. While many brokers require a minimum deposit of $10,000, others do offer lower deposits of $3,000 or even $1,000. With leverage, of course, the buying power is much greater than the minimum deposit, which is one reason forex trading is so attractive to traders and investors. Minimum Micro Account Deposit. A micro account allows forex participants to trade in much smaller increments than a standard account. A micro lot is equal to 1,000 units of the base currency, compared with a standard lot’s 100,000 units. A one-pip change in a currency pair traded in a micro account equates to a $0.10 change for EUR/USD. Mini-accounts are also available that have a size of 10,000 units of the base currency, and where a one-pip fluctuation is equivalent to $1 for EUR/USD. Designed for new traders, micro accounts are appropriate for traders who want to trade with less of an investment, or who are ready to put real money on the line – just not a lot of it. As traders gain confidence, more lots can be added to increase exposure. Many brokers allow traders to open micro accounts with as little as $5. It should be noted that some brokers offer micro accounts as “self-service” accounts, and no telephone or chat support is provided. All support is conducted through e-mail, FAQs and an online trading community. Mobile Trading. Mobile forex trading is increasingly important to traders on the go, and provides a convenient means of staying on top of the markets. Many of the larger and reputable brokers offer the ability to access charts and trade entry windows via applications designed for the iPhone/iPad or Android operating systems. Typically, these applications are included free of charge with a funded trading account. NEXT: [THREAD=11755]How To Choose a Forex Broker - Part 2[/THREAD]
  15. Broker Support Live Chat Support. Since the forex marketplace is open nearly 24 hours a day, seven days a week, a broker’s customer service should be available during the hours that the trader might need help; i.e., when the trader is awake. The ease with which one can access live chat support or speak with a live person, rather than a time consuming and often frustrating auto attendant is an important consideration. A quick “test” chat or call can provide an idea of the type of customer service a broker provides, wait times, and the representative's ability to concisely answer questions regarding spreads, leverage, regulation, and company details, including how long they have been in business, and the size of their trade volume (larger brokers generally have access to better prices and execution). Most reputable brokers do offer round-the-clock support due to the nature of the forex markets. Languages. Many brokers’ websites specify the languages spoken by their customer support crew, or list separate telephone and/or email contacts by country. If the website does not provide this information, a call can be placed to clarify and determine if a trader will be able to comfortably and effectively communicate with the broker. In general, it makes sense to only do business with a company that can provide clear and helpful assistance in a language in which the trader is fluent. Funding Methods. Most forex brokers allow clients to make deposits using a credit card, such as a VISA or MasterCard, a bank wire transfer, or an electronic payment, such as PayPal. These methods are generally quick and allow traders to start using an account within a short period of time. Checks, either from an account in the individual’s or corporation’s account name, are often accepted as well; however, there will typically be a delay as the broker waits for the check to clear. Withdrawal of funds from a trading account can be made in several ways, depending on the broker. Ideally, the system in place should allow for hassle-free withdrawals, and the process should be clearly stated on the broker’s website or in its promotional material. Brokers may offer withdrawals via direct deposit to the bank account on record, by check, credit card, or wire transfer. If a withdrawal is made to a credit card, it will typically be processed only to a card that was used to fund the trading account, and cannot exceed the amount of the deposit. The broker’s website should state how long withdrawals take, and if any fees will be incurred. It pays to read the fine print: a broker’s website may state that they do not charge a fee for depositing or withdrawing funds, when in fact they may relay the costs of bank fees onto the client. For example, if the broker pays a bank fee of $20 for a wire transfer, the cost will be passed on to the client. Commissions & Fees Clients should be able to find detailed and up-to-date information regarding a broker’s commission and fee schedule. Brokers make money through commissions and spreads – the difference between the bid and ask price of the forex pair. Many brokers advertise that they charge no commissions, but instead make their money with wider spreads. The spread could be a fixed spread of, for example, three pips (the minimum unit of price change in forex), or it could be variable depending on market volatility. The wider the spread, the more difficult it can be to make a profit. Popular trading pairs, such as the EUR/USD and GBP/USD typically have tighter spreads than more thinly traded pairs. (There are three types of commissions used in this market. Any fees associated with deposits, withdrawals or other account actions, such as receiving a paper statement by mail or having an inactive account, should also be clearly stated. Advanced Features Introducing Brokers. An Introducing Broker (IB) is an individual or organization that solicits and/or accepts orders to buy or sell futures contracts, forex, or commodity options, but that does not accept money or other assets from customers to support the orders. The Introducing Broker has a direct relationship with its clients, but partners with a merchant that handles the trading floor and trade execution operations. In the U.S. most brokers will not partner with an Introducing Broker unless it is registered as an IB with the CFTC and NFA. IBs provide specialized customer support and usually earn commissions on each of their clients’ trades. To stimulate business, IBs are often provided with perks that can be passed on to clients, including access to value added services, such as advanced charting software, and volume-based trade rebates. Some IBs, particularly those with a very large client base, offer their clients a rebate on every trade. Since many forex traders make many round-trip trades each month, the rebate savings can be substantial. CFDs, Oil & Metals. Not all forex brokers allow clients to trade the CFD, oil and metals markets. A CFD is a “contract for difference” where differences in settlement are made though cash payments instead of the delivery of physical goods. If a trader wishes to participate in these markets in addition to forex, he or she should confirm that the broker offers access to all of the markets. At times, the trader may need only open a different account with the same broker to provide the ability to trade in all of the markets. Due to the close relationship between oil, metal and currency prices, and because many currency traders actively follow the price of oil and commodities, many forex brokers have chosen to add these markets to their product offerings. Hedging. Traders can use hedging as a means of reducing risk. A forex hedge exists when a currency trader enters a trade with the intention of protecting an existing or anticipated position against an unwanted move in exchange rates. A trader who has bought a currency pair (entered a long position) can use a hedge to protect against downside risk, and vice versa. Direct hedging occurs when opposing trades are entered simultaneously; for example, a trade to buy a currency pair entered at the same time as a trade to sell the same currency pair. The net profit is zero while both trades are open, but the idea is that one of the trades eventually will make money and the other position can be closed. Brokers will state if they allow direct hedging. (For related reading, see Forum discussions about Hedging.) Scalping. A scalp is a very short-term trade that can be applied to the forex markets. These trades can last from a few seconds to a few minutes, and are intended to take small pieces out of the market on a frequent basis. Scalpers often trade using very small chart intervals. A challenge with scalping is that, since a typical winning trade is small, depending on the size, one or two losses can wipe out dozens of small wins. But with the right trading system, scalping can be a profitable means of participating in the forex market, especially for traders who like fast-paced action. A scalper should only trade the most liquid markets during times of high volume, using a broker that provides fast and reliable quotes, as well as an easy-to-use trade entry platform. (For related reading, see Forum discussions about Scalping.) Dealing Desk. In the foreign currency markets, a dealing desk is the location of a financial institution’s forex dealers. A dealing desk may, in reality, be a large facility staffed by dozens of traders who specialize in specific currencies and who offer support and assistance to traders. The dealing desk executes trades on behalf of the firm’s clients. A drawback to dealing desks is the chance that a trader will receive a re-quote – the rejecting of a client’s original order that is followed by a new, worse price that the client can either accept or reject. In fast markets, re-quotes could happen multiple times, resulting in losses. A more direct method of accessing the forex markets may be the no dealing desk broker (NDD). This is a preferred method for many professionals and one that allows traders to access the interbank market directly without the need to go through a dealing desk. NDDs work with market liquidity providers, such as global banks, financial institutions, and other market makers, to get the most competitive bid and ask prices. A computer typically selects the optimum buy and sell prices from amongst the NDD’s liquidity providers, and the prices are shown to clients via the trading platforms. NDDs provide an automated process that is generally considered to be fast, transparent and fair. Whether a trader uses a dealing desk or no dealing desk is a matter of preference, but either way, the method by which a broker handles trades should be investigated and understood. Conclusion If a trader has confidence in a forex broker, he or she will be able to devote more time and attention to analysis and developing forex strategies. A bit of research before committing to a broker goes a long way, and can increase a trader's odds of being successful and profitable in the competitive forex arena.
  16. When it comes to entries, the usage of various tools such as support and resistance, pivot points, fibonacci and even camarilla come to mind. While they do show you potential points for entries, they do not, however, show you a more specific area for entries. With experienced traders, how do you guys isolate a specific point for an accurate entry?
  17. The Bretton-Woods agreement of 1944 which fixed the currencies of the world to the US Dollar, which itself was pegged to gold at a price of $35 an ounce, was essentially a fixed exchange rate regime. This system collapsed in 1971 when the US withdrew from it unilaterally. However, countries like China operate a fixed exchange rate regime for the Chinese Yuan Renminbi against the US Dollar.
  18. In export-oriented economies like Japan and Switzerland, the central banks hold an official policy of devaluation so as to make the country’s exports cheaper and attract more patronage abroad, as a means of increasing revenue. Whenever market conditions cause strengthening of the currencies in question, the central banks intervene by flooding the forex markets with massive amounts of the local currency, using it to purchase currencies like the US Dollar or other majors. Supply of the currency now outstrips the demand leading to a fall in the exchange rate of the currency. The Bank of Japan intervened three times in 2011 to curtail the strengthening Yen, while the Swiss National Bank introduced a minimum exchange rate peg of 1.2000 for the EURCHF pair, promising to defend that peg “at all costs”. In order to defend the peg, the SNB would have to sell lots of the Swiss Franc to make it cheaper and keep the exchange rate above 1.2000.
  19. Depreciation should be differentiated from devaluation, which is a deliberate government policy of the local country to drop the value of its currency’s value. Depreciation is usually a product of market forces, and is usually as a result of a negative attitude of traders to a currency, leading them
  20. Brokers are also dealers in their own right. A dealer is an individual or firm that acts as a principal or counterparty to a transaction. As dealers offering securities to other traders, they take one side of a position, and hope to earn a profit by closing out the position in a counter-trade with another party. In the forex market, many “brokers” operate dealing desks that take contrary positions to that of traders. By selling a currency a trader buys, or by buying a currency when a trader sells, the brokers are actually acting as dealers. In this situation, they are also known as market makers.
  21. The bid price is the opposite of the ask price. In a price quote, the bid price is the price quoted on the left hand side. For example, if the EURUSD is quoted at 1.3201/1.3203, the bid price here is 1.3201. If a trader has purchased the EURUSD earlier in the market and made some money, he will only be able to sell the base currency at the bid price and not the ask price. In this case, he will sell the EUR position in the EURUSD at 1.3201.
  22. The Ask price is the opposite of the bid price. The Ask or Offer price is the price at which a trader buys a financial asset such as a currency from the dealer/broker. In the online spot forex market, the Ask is the price at which the trader buys the base currency in a currency pair. In a price quote, the ask price is the price quoted on the right hand side, and it is always higher than the bid price. For example, if the EURUSD is quoted at 1.3201/1.3203, the ask price is 1.3203. If a trader wants to trade the EURUSD in the forex market and he places a Buy Order for this pair, his entry price will be 1.3203. The real-time application of the ask price differs from market to market. In some markets like the commodities market or mutual fund market, the ask price will include the offer price of the instrument being traded plus any commissions or sales charges. In forex, it is simply the price offered by the broker/dealer to the buyer for an instrument.
  23. Hi, Seeing the increase in posts on various currency pairs, we have decided to start generic threads, this one being for AUDUSD. All items related to AUDUSD should go in here, *unless* there is a specialized topic or question related to AUDUSD. We will err on the side of caution and assume discussions on the pair should be in this thread. I hope this will keep the forums clean, discussions coherent and synchronized.
  24. Hi, Seeing the increase in posts on various currency pairs, we have decided to start generic threads, this one being for EUR/USD. All items related to EUR/USD should go in here, *unless* there is a specialized topic or question related to EUR/USD. We will err on the side of caution and assume discussions on the pair should be in this thread. I hope this will keep the forums clean, discussions coherent and synchronized.
  25. Forex Market Hours: How many times do you trade a week? FOREX MARKET HOURS Forex Market Hours: How many times do you trade a week? This is a question that is largely asked. Ezekiel. How many times do you trade a week? or How many times should i trade a week? Whats your answer? (Forex Market Hours) My answer to them is pretty much the same - 0 to 10 times a week. There is no definite figure and there never will be. As mentioned before, we enter trades when a setup occur with price action confirmation. Therefore, if there is NO setups = There is NO entry. It can absolutely happen when there is NO setup for the entire week. Which accounts for the 0 times a week. (But it rarely happens) And there may be weeks when there are alot of setups (may be even more than 10) But on average. Its between 0 to 10 times a week. Forex Market Hours: How many times do you trade a week? Forex Market Hours Some of you guys may think. That’s very little. Yes its very little. Would you rather have more trades with more losses OR Would you rather have less trades with more wins? Think about it. The reason why we take so little trades is because we filter away alot of the low probability winning trades. ‘Most traders find reasons to enter, professional traders find reasons NOT to enter’ – Ezekiel Chew Therefore, every trade we take. Must have a high probability of winning. Which will eventually lead to a good growth in your account. Forex Market Hours: How many times do you trade a week? Forex Market Hours Therefore, if you are trading way over than 10 trades a week. Look at the success rates you are getting. If you are getting a high success rate on all the trades. That’s good. But if you are not getting a high success rate. You need to think twice about your forex trading strategy. Are you trading the right way? Will your trading style lead you to a consistent growth at the end of the day? Remember – Forex trading is NOT all about taking trades. It requires you to think about and to have a proper forex trading system, a plan. This is a business. This is not gambling. If you are taking trades based on gut feel. – You are a gambler. I would recommend you to stop trading altogether. Either stop forex trading, or spend some time to learn how to trade forex the right way. Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies | system that i personally use to be consistently profitable. (Forex Market Hours) See you on the other side my friend, Asia Forex Mentor Ezekiel Chew Asia #1 Forex Mentor :helloooo:
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