There are two primary ways to become a more successful Forex trader - to practice, and to learn about the industry.
At DailyForex, our goal is to simplify your trading so that you can trade easily and smartly. To this end, we offer you a collection practical articles written by our Forex experts to help maximize your trading success.
You can also browse our articles by category to find information and trading strategies that can help you improve your profitability and enhance your trading experience.
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The Xmaster formula indicator Forex description labels it as a custom technical indicator Forex traders use during the London trading session on volatile currency pairs to find profitable trading opportunities. While its precise calculation is a closely guarded secret, many agree that it combines the RSI and MACD, two of the most used technical indicators in Forex trading.
It took me many years into my trading career to understand that market sentiment is decisive in producing orders that drive price moves.
The Philippines has emerged as a core Asian Forex market, developing into a regional financial powerhouse. It is home to several well-known business magnates and industrial titans that provide a road map for retail Forex traders to follow. Interest among the Philippine population for Forex trading & brokers, continues to accelerate, and the most successful Forex traders in the Philippines inspire beginners.
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Telegram took the Forex market by storm, with tens of millions of Forex traders using it as part of their daily Forex lives. Algorithmic trading accounts for 80% of daily trading volumes and a Telegram Forex bot can ease some of the most repetitive and time-consuming tasks for Forex traders. While the idea of a Telegram Forex bot may sound like a guaranteed benefit to most traders, my Telegram Forex bot will cover the pros and cons to help traders make an informed decision.
Scams are nothing new, but Telegram has made it simpler for Forex scammers to reach their victims. My Telegram Forex scammer list will detail what traders should know, the most popular ways scammers operate, and tips for safeguarding your online Forex trading.
News travels lightning-fast and impacts price action instantly. Depending on the news, it can cause breakouts, breakdowns, or trend reversals. Therefore, profitable traders rely on high-quality news services, even if they trade purely based on technical analysis. Forex news Telegram channels continue to gain in popularity. I have dug deep to find the most reliable ones for traders to consider adding to their toolbox, so as to understand and profit from price action.
Telegram became the go-to messaging app for traders and signal providers. It has 1B+ downloads on the Google Play Store with a 4.2 rating, which explains why more users sign up daily. With inflation spiking, interest in gold trading boosted demand for gold signals Telegram providers. Let’s take a look to see if you should join the trend.
The Market Profile indicator is one of the best tools for understanding underlying market movements in a way that is not obvious from traditional charts and indicators. Its unique structure gives price action a new layer of context, or as some traders describe it, a third dimension.
The moving average crossover system is by far the most common way that you will see moving average is used. It’s a simple blend of at least two moving averages at different intervals. There is the faster moving average, which is used to determine the short-term trend, and a slower moving average to determine the longer-term trend. The idea is that when the short-term interval moving average crosses above the slower longer-term interval moving average, momentum is building to the upside and buyers will jump in and continue to push higher. Of course, the exact opposite is true as well. If the short-term interval moving average crosses below the longer-term moving average, it’s a signal to start selling.
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MetaTrader 4, and its successor MetaTrader 4, and cTrader dominate the market, but which one is the best choice for your trading strategy?
Forex trading in India continues to expand rapidly, and India has become one of the most attractive growth markets for international Forex brokers. We will look at the most successful Forex traders in India, evaluate how other traders might learn lessons from them, and offer tips on becoming successful as a Forex trader in India.
The London Breakout Strategy has worked for decades because it relies heavily on the time zones of the world's Forex centres and their activity, which is likely to stay the same. I've traded the London Breakout Strategy in some form since the mid-2000s.
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The Forex market has a daily turnover exceeding $7 trillion; data suggests it could exceed $10 trillion by the end of this decade. Algorithmic trading solutions execute over 80%+ trades and trading volume daily, ranging from simple trading bots to advanced AI-powered trading solutions. Most traders with profitable trading strategies will eventually get them coded into trading bots, also known as expert advisors or EAs, on the MT4/MT5 trading platforms.
In this article, I will explore how to trade the commodity silver, why it can be an attractive asset to trade, and what market drivers affect its price. I will conclude with a summary of the pros and cons of trading silver.
A lot is the transaction volume in the Forex market, but what is the maximum lot size in Forex? I will cover everything you need to know about Forex lots, which is essential to proper risk management and executing a profitable trading strategy. Make sure you read the pros and cons of using the maximum lot size in Forex and familiarize yourself with the types of lots in Forex.