BITCOIN BREAKS $40,000!! (MAJOR Backlash at Beijing Olympics over Digital Yuan)

‘Best Friends for Life’ – Isn’t this a little cheesy for an article which focuses on helping people understand the mysteries of the Forex markets? I agree, it is but I just couldn’t find a more holistic phrase to express this relationship.

Knowing what novice traders lack with regards to trading skills is very useful, but it can be even more interesting to know the common qualities forex traders who actually succeeds on the market! Let us analyze what are those qualities that actually make a trader successful and differentiate him from the others.

Social Forex trading has become a growing phenomenon, with several brokers offering the opportunity to copy successful traders. This makes it easier to earn Forex profits, but traders still need to keep some tips in mind.

There are many ways to trade forex, depending on the time horizon. One of these ways is scalping, which involves taking multiple positions within a very short timeframe. Scalping involves a high level of adrenaline and the opportunity to make significant and rapid profits. However, beginners should not be allowed to play, and even consider Scalping as a possible goal, unless they have obtained the necessary skills and experience.

Creating a Forex Trading Journal, means to list all your positions in the forex market and their criteria. With this method, you will not simply lose your money but instead you will learn from your mistakes. We strongly recommend that you use a trading journal in your forex trading, especially if you feel that you’re still in the "acquisition experience trader" phase.

Technical analysis is the study of the financial markets, which involves the analysis of what has happened in the past. Based on market (past) charts, the investor tries to determine what will happen in the future. The analyst, tries to spot some recurring patterns in the past and use the knowledge of these patterns and apply them in the current market. This tool is one of the most basic and vital tools for just about any trader.

Trading forex, requires patience and determination to reach levels of high performance. Firstly, you need to remember that forex trading is an activity based on performance. Secondly, personal and professional development is essential to improve our skills, not just fill our weaknesses. Thirdly, markets have mood swings and repetitive patterns, reflected by human action. In this article we will focus on the aspects of performance itself.

The value of currencies goes up and down every day and you can potentially make money from the movements of these currencies. More than a decade ago, foreign exchange transactions happened exclusively between major banking institutions, corporations, and brokers.