Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

signalsprovider

Signals Provider | Forex Signal Providers |Best Forex Signals

Recommended Posts

I can see the blooming motivation of a beginner trader transpire through this question. You’ve just discovered forex trading and you’re wondering “gee, could I do this, like, all the time!?”

Well the answer is almost. The forex market is a 24/5 market. It simply means that the forex market is opened for 24 hours every working days of the week. Depending on your time zone, it opens on Sunday night (at 10PM GMT) and closes on Friday night (at 10PM GMT).

As you can see, the forex market is actually closed during weekends. I remember back when I first started trading forex I was so disappointed that it would be closed on weekends. I wanted to trade more! After a while though I realized that I actually needed to sleep once in a while and having free weekends became a pretty cool thing. Obviously it was at this point that I decided to do some intensive testing for different strategies and I couldn’t do that during the week (trading time!) so I decided to test during weekends. Sleeping time was over.

The market being open is not enough a reason to be trading. There are several reasons for this.

1) You need to rest

Weird to start from there, but I think it’s an important point. As a beginner forex trader, you might start to get obsessed with trading and will want to spend all your waking hours looking at candles going up and down.

You need to sleep. The market will still be there tomorrow. Have a rest, get away from your computer and think things over. I’ve had my most important forex trading breakthroughs away from the computer. You could be spreading bread on a piece of toast and suddenly realise “heyyy, here’s something I should be testing!”

2) The market conditions are not always great

As you’ve learned by going through our forex training (if you haven’t, shame on you), the forex market is divided in several sessions. Some sessions are more active than others. Thankfully for us in the UK, the UK session is the most active session of all.

Share this post


Link to post
Share on other sites

Risk and Stop Loss Orders

You should always use some kind of hard stop loss order that is entered into your trading platform. When your stop losses are hit, it can feel like a slap in the face. If the price then comes back in the direction that you originally wanted it to go, the anguish increases even more. You will need to ignore these feelings and instead be grateful that your stop loss order limited the maximum amount you could possibly lose. Sooner or later you will be grateful that you had the stop in place.

 

Experts sometimes trade without hard stop loss orders (also sometimes referred to as stop limit orders). They can get away with this because they are experts and because they are probably using little or no leverage. Ignore these methods, for your own safety, and be sure to always use a stop loss or stop limit order.

Share this post


Link to post
Share on other sites

FOREX MARKET EUROZONE BLUES

The momentum of market focus has once more shifted back to the Eurozone. 2011 has not been a good year for the Eurozone, as Greece, Spain and more recently, Italy and Ireland just cannot seem to shake the cobwebs off.

 

The recent announcement by the Greek financial minister that the country has resources to pay salaries only until October is not cheery news at all. Ireland is also being asked to cut down salaries of government workers, one of he highest in the zone in an attempt to get the debt profile of the country to below 10.5% of its GDP.

 

 

The recent resignation of the ECBs Jurgen Stark just seems to add to the panic. We saw the Euro tumble against the USD by more than 800 pips since the month of September.

 

http://www.signals-provider.com

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Topics

  • Posts

    • I traded alot today. 9 trades, 8 losers and BEs, 1 runner that paid for them all. Gotta keep swinging! totaled 240 bps before commission. The first winner on W, I did not count - it was a mistake that led to profit. I felt like a machine, kept pulling the trigger, watch the 1min chart, see it doesn't go anywhere, take my small loss... over and over... then one takes off... Let it run... the whole time I was thinking I hope that the one winner will pay for all the losers. I was tempted to close out the winner early. I had no idea that the payoff distribution for this strategy would be so extreme - 8 tiny losses before hitting a big win. Pays to keep the losses tiny and keep swinging. 
    • Date : 22nd February 2019.

      MACRO EVENTS & NEWS OF 22nd February 2019.



      FX News Today Both Topix and Nikkei, declined during the Asian session, with -0.25% and -0.18% respectively. Overall, stock markets in Asia struggled through most of the session as subdued inflation data rekindled concerns about a lack of demand and flagging growth and after Wall Street closed in the red. News that US President Trump will meet with China’s top trade negotiator today in Washington seems to have helped Chinese markets to stage a late rally and CSI 300 and Shanghai Comp are up 1.76% and 1.51% respectively and the Hang Seng also managed to claw back losses and is up 0.11%. US stock futures are posting marginal gains and the April WTI future is trading at just over USD 57 per barrel. USDCAD rallied over 1.32 to 1.3225, as Oil inventories rose, with the US at record production levels. Oil price is now back around the $57 mark. Japanese CPI data same as forecasts, pushing the Yen higher. Charts of the Day


      Main Macro Events Today EU CPI Inflation – Core inflation is expected to be confirmed at 1.1% y/y while the overall inflation rate is expected to have stood at 1.4% in January. Canadian Retail Sales – Retail Sales are expected to have declined by 0.3% m/m in December, an improvement from the 0.6% declined observed in November. Mario Draghi Speech – The ECB President is due to speak to the University of Bologna where he will accept an honourary degree. Support and Resistance
       
      Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

      Please note that times displayed based on local time zone and are from time of writing this report.

      Click HERE to access the full HotForex Economic calendar.

      Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

      Click HERE to READ more Market news.

      Dr Nektarios Michail
      Market Analyst
      HotForex

      Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Actions for the 21st. 
    • Today had 3 trades, + 73 bps. The 2nd red dot on ALB was an error, somehow 1 share got executed at the lower price. I started new batch of trades today. The tweak was the exit is now based on trailing exit instead of manually calling it. I found it to be extremely uncomfortable as I sat through each retracement on DPZ. To see profit retrace back to zero or negative is associated with much pain. It feels as if it's a permanent loss. My goal is to execute my trading plan and not trade based on my emotions. I am very proud of the 2nd exit on DPZ for 170bps. I will do my best to continue this work. I do notice I may be giving back a bit too much on my losers, I will not change anything until the next batch of trades.   
    • I forgot to post yesterday. I was down 72 bps.  
×

Important Information

By using this site, you agree to our Terms of Use.