Debunking Famous Forex Trading Myths

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What Are Indices?

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Checking the Top Benefits of Hiring Professional Forex Trading Broker

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Debunking Famous Forex Trading Myths

There is a long-standing rule in Forex trading – the 90/90/90 rule. According to this rule, 90% of traders will lose 90% of their funds in a matter of 90 days.

But for those well-educated traders, there is nothing much to worry about. You can keep yourself from joining the 90% of the losing end by knowing the myths in trade forex that have been recognized as real all these years.

Myth No. 1: Trading is a Piece of Cake

We tend to see those adverts claiming that trading is easy and you can become a millionaire after investing some money. There are also videos, posts, and even seminars made by people who claim that they are the living-proof that trading is easy.

Unfortunately, these things are only made up of people who want to sell something. These are their dirty tactics to encourage you to invest as soon as possible, even without proper education and knowledge. They might offer you something, such as software or a training course then they claim that this will make you successful instantly. Then you know what happens when you become successful in trading. You will make lots of money.

So, without a doubt, many people get to jump straight to success, avoiding the regular learning process of trading. But then, after giving them the payment, you realize that you have fallen into a huge scam.

Trading Forex Lets You Make A Lot of Money

It is true that you can make a lot of money in trading but all that stuff claiming that there is an easy way is a complete myth. In fact, it is very hard to attain success in trading. First of all, you need to do a lot of things such as learning the basics of trading, the right behavior that you need while trading, and the trading psychology that goes with it. All these things cannot be achieved overnight.

Myth No. 2: Trading is a Get-Rich-Quick Scheme

Without a doubt, trading can bring forth large profits. But this advantage is only applicable to those traders who have the right set of knowledge and skills.

  • You must learn and know-how trading actually works
  • You must learn about probabilities in your trading
  • You need to have a concrete trading plan that defines your trade setup, your stop-loss order, your exit trade as well as your entry trade.

After that, you need to;

  • Start trading your system using a small capital
  • Have a concrete plan on how and when you should increase your trading size
  • Have a plan on how and when you should decrease your trading size
  • Expect when you should take the time to achieve bigger profits

So, basically, the path to success in trade forex is learning the things that you need to know and doing the things that you need to do so you can trade correctly. To say it short, you need to know what to expect in trading. Also, you need to know in advance the things that you should do when adverse scenarios come in.

What Are Indices?

Indices are the measurement of the price performance of a particular group of shares that are from an exchange. For instance, FTSE 100 comprises the 100 largest companies that London Stock Exchange has. Index trading allows you to get trading exposure towards the whole economy or a particular sector, without the need to open a lot of positions.

Index trading in CFD allows you to speculate on price movements, whether it rises or falls without the need to take ownership of the underlying asset. Indexes are also known to be a market that is highly liquid and has more trading hours compared to other markets in the trading industry. With Indexes on CFD, you will be able to achieve longer exposure towards some of the most promising opportunities in the market.

Identifying The Price Movement of Indexes

There are a number of factors that can affect the index price and it includes; economic news, company announcements, change in the index composition, company financial results, and commodity prices.

Economic News

Economic events which include central bank announcements, investor sentiments, payroll reports, and all the other economic events in the financial work can affect the volatility which in turn affects the index prices.

Company Announcements

When there are changes in the leadership of the company or company mergers, these will most likely affect the share prices which may lead to a negative or positive impact on the price index.

Change on the Index Composition

Weighted indices can shift prices whenever a company is removed or added. The traders will have to adjust to the new composition, resulting in changes in the index price too.

Company Financial Results

For companies having changes in their profits or losses, these will greatly affect the share prices that can either decrease or increase in size. These changes can also affect the price of the index.

Commodity Prices

Finally, there are commodities that have a huge effect on the index prices. For instance, in FTSE 100, 15% of the shares that are listed there are commodity stocks. Because of this huge percentage accounted for commodities stocks, any changes or fluctuations will cause positive or negative effects on the price of the index.

Advantages of Trading Indices

There are their advantages of trading index – go long or short, hedging positions, and trading with leverage.

You can go long or short

When you trade on indices, you can either go long or go short. When you go long, you are at the buying side, expecting that the market price will somehow rise. If you are going short, you are at the selling side, expecting that the price will fall.

Trading with leverage

Another advantage of trading indexes is you can trade with leverage. When you trade on leverage, you can open a huge position in the market without paying much or just a percentage of the total amount of investment.

Hedging Positions

When under a tight position, a trader can short their shares to protect them from losses. In case the market takes a downturn, the short position will have an increasing impact protecting from losses on the investment.

Checking the Top Benefits of Hiring Professional Forex Trading Broker

The forex trading market has slowly grown over past some years. Now, it has started providing plenty of opportunists to the traders from across the globe. It allows them to earn plenty of money in a short period of time.

But, forex trading isn’t a simple task to perform and you need lots of practice and know-how. There’re some critical things that you need to know when you are trading so that you don’t end up making any blunders that may cause disasters. It is where finding the professional forex brokers play an important role. They have proper understanding of this market & know how the things work. Suppose you’re somebody interested in foreign exchange market, then you must consider hiring the forex broker or visit www.forexmejores.com/brokers/plus500/. They come with several benefits that are given below.

Helps to Trade All Day

Rolling hours of this market are the primary benefit of forex trading. The foreign exchange happens over-the-counter, it means transactions are made straight between the trading parties and facilitated by the forex broker. As it operates in this way, the forex trading isn’t subject to opening hours of centralized exchange system. Providing there is the market open in the world, the deals will happen. The forex trading in UK starts at 9pm on Sunday and rolls constantly until close of the session in NY at 10 pm on Friday.

Whereas the market is closed down to retail traders on the weekend, it is very important to check that the rates may continue to move, so you must factor this in your trading strategy and mitigate any risk.

Help You Learn Everything About Trading

The forex investors encounter several issues when navigating the market. In order to prevent failure and incident cases, it is a smart choice to hire brokers. Not just it is very beneficial to protect the bid price, but to get knowledge of trading strategies & tricks to guarantee sustainability. Suppose you make any wrong decision, your brokers can help you to come out from it. Learning about this sector is the major elements to secure good income in the market. With help of the forex broker platform, you have benefit to stay ahead.

Final Words

There’re a lot of benefits to trading but, with any market, there’re associated risks & it must not be entered in lightly. Whereas this post has covered primary benefits of forex trading, it is very important that you understand the pitfalls to make sure it is right choice for you.

Top 5 Unheard Secrets of Forex Trading

Retail forex traders are growing in number as Forex trading is becoming more accessible to the public. If you are new to Forex, the first thing that comes to your mind is to look for some tips and tricks that you can use on your trades. This is something quite common but you shouldn’t get fooled easily with those success stories of random traders nor rely on those low-level guides that are also widely available online. But there’s nothing to worry about, we have compiled the top secrets of Forex that almost all new retail traders miss.

Create a Trading Journal

Take note: this is time-consuming and some traders might find it unnecessary because forex brokers nowadays have real-time trade records available for their clients. The problem with these records is that they don’t record everything, one thing that only successful traders truly understand. With a manual trading journal, you get down to the core of your entire trading efforts. You can monitor independent tracking, profits, and losses, margin usage, buying power and so much more.

Use Demo Accounts to Test Your Strategy

Before you lay your strategy in the real trading world, it is advisable to test it with a demo account. A demo account provides an environment that looks and feels like the one in real trading. The problem with the strategy that you have created on the paper is its effectiveness in the real battle. Your strategy might look good in the paper but it might actually compromise your trading plan in the real market.

Employing a good trading strategy is very important despite the number of newbie traders trying to enter the market without a proper trading plan. The result is frightening. They either experience a string of losses or lose their initial capital.

Fads and Trends – What’s the difference?

If you want to be competent in trading, you need to be updated with the latest financial news. But this won’t be enough to make an all-out success in trading. Clever traders tend to value the difference between trends and fads. Nowadays, traders tend to measure market development based on GDP. Moreover, they tend to give importance to policy changes such as interest rate revisions. But breaking down the macroeconomics of inflation is really the secret to success in Forex trading.

Keep Updated With Newswires

Newswires deliver information where you can base your decisions on trading. But sad to say, only a very small amount of traders pay attention to the news that creates a difference in the market. Because most traders put their focus on the technical analysis, the fundamental analysis is neglected and pushed back. Financial and economic news shouldn’t be ignored easily. This information is used by most successful Forex Traders in laying a step ahead of their competitors.

Be Committed

If you are eager to become a professional forex trader, you must be truly committed to your goal. Successful traders never cease to commit their time and effort to succeed in trading. They create a detailed schedule where they can follow on a daily basis.

Why you should switch to MT4 Trading Platform

Trading platforms are the backbone of a trader. It links traders with both the broker registry and the stock markets and offers commercial instruments. MT4 is multi-purpose, secure, and mobile.

Functions

MetaTrader 4 developers have introduced several features for Forex instrument trading which includes market and pending orders; nine timeframes, complete analytical tools, online quotes, and economic news from credible news agencies

Strong Trading System

Algorithmic trading, with the help of automatic trading programs, is one of the strengths of MT4. Robots, analysts, professionals working with a preset algorithm, you have a break. MQL4 IDE is installed in the platform, and a personal contractor or robot of some complexity can be developed here. Many that are on Forex recently and don’t know the MQL4 language use MetaTrader Industry built-in software and a free codebase repository. Everything you need to transact here effectively is from technological metrics to consultants and scripts.

Security

If you trade in MT4, your data is safe. The exchanging of knowledge is secured with 128-bit keys between you, the terminal, and the platform servers. The framework supports even an upgraded RSA-based authentication scheme – an asymmetrical encryption algorithm.

Expert Advisors

The MT4 network also offers specialist consultants for those who automatically perform their business. It is an excellent way to expand your trading portfolio, and there are hundreds of EAs. Each EA is modified to meet the requirements of the trader. Traders can create and run their own EAs on the MT4 network as well.

use MetaTrader Industry

Availability on many devices

You will transact on smartphones and tablets as well as on your device. Three forms of MT4 are implemented: laptop, web, and browser. Both the smartphone and online platforms are complete desktop compliant. You open the order on your monitor and handle the charge on your tablet for Android/iOS devices with a smartphone edition. Both data would be shown appropriately. You don’t rely on the venue or the time of your computer or mobile platform: you may search the account or close order from any computer linked to the Internet at any time.

Basic and advanced analysis

MT4 presents a wide variety of integrated technical metrics and charting capable of critical tools for price analysis. More than 30 embedded technical measurements involve broad patterns and volume instruments, including Moving Average Convergence Divergence (MACD), RSI, On-Balance-Volume (OBV), Fibonacci retraces, and more.

Traders will display infinite charts at one time, and each monetary pair can be seen from one minute to monthly cycles, in nine individual timeframes. Additional charts from the MQL4 group may be accessed, but many traders also generate their own indicators.

A detailed study of the map shows that the mathematical processes and drawing of items allow traders to determine the complexity of price behavior. Also, certain charts may be entirely updated to suit each trader’s requirements. They can be saved based on the separate trader accounts.

Traders may predict improvements to the sector, recognize assistance and resistance levels, define entry and exit points, and set interruption thresholds directly from the charts. Notifications may be sent on the grounds of the publishing of crucial economic information or financial news. Traders are often offered the possibility that data linked to a particular business may be customized.

Robo-Advisors Help Investors Peek behind the Curtain

As online investing continues to evolve, investment management companies or advisory robots have started to appear on the global web. With massive investments in technology to develop better low-cost services, the paradigm has shifted in terms of retirement planning, financial advisory services, and wealth management, creating great opportunities for the general public.

Here’s what this could mean for you:

Lowest price – flat rate!

There is no denying the exorbitant fees that traditional financial advisers charge their clients. For example, an investor starting with an investment portfolio of $ 200,000 can expect to pay approximately $ 2,500 a year to manage the investment using an average advisor fee of 1.25%. Considering this commission over a 20-year period could cost this investor more than $ 125,000 of his portfolio. This does not include any hidden wallet fees.

With the advent of robotic online consulting services, some of the best online financial advisers have been able to cut the fees investors have to pay for professional investment advice by more than half. Iron Peak Advisors has gone even further, charging a flat fee of only $ 15 per month per account, with annual costs reaching as low as $ 180.

Breaking the Limited Income Barrier!

While there are many financial advisers designed to meet the needs of individuals and businesses at the expense of increased profitability, there are significantly fewer options for average Americans and small business owners seeking professional investment management.

Financial experts believe that online consulting has become a solution that meets the unique needs of people who have less money to invest at a lower cost. Its strategic objective is to help people and companies manage and grow their assets.

Robo Financial Advisors

Experience and credentials

The robo advisor app work with the goal of helping individuals and businesses achieve their investment goals. What make their services unique are the personalized service, private consultations, and online lessons. All of our investment advisers are licensed and supervised by FINRA and the Securities and Exchange Commission (SEC).

Fee-free ETFs (exchange-traded funds)

ETFs are mutual funds that hold stocks, bonds, and cash. These investment instruments can be used to adequately diversify the client portfolio and minimize investment-related fees. Thanks to Iron Peak Advisors’ long-term relationship with TD Ameritrade, their custodian, they are able to offer commission-free ETFs to their clients for free, as long as the funds are not sold within 30 days. 

Buy mutual funds online!

Investment and finance consultant clearfunds has developed improved options for applicants who can open their account on the portal for free. Additional services are also offered, such as advice on choosing the best purchase; whereas instead of the usual brokerage, you only need to pay a one-time fixed transaction fee!

Clearfunds is your online investment advisor, robot advisor, financial advisor, or mutual fund advisor providing unbiased and dispassionate advice on the best mutual funds.

Bitcoin Analysis is Important for Traders

If you were here, you would have known about Bitcoin. It’s been one of the top news features of the moment for almost a year – as a simple scam for money, as the full point of the account, or as the introduction of a genuinely global currency as this is the end of the year planet, or as an innovation that has made the world better.

Whether it is a question of the exchange of securities or currency groups, the examination is continuously carried out by experienced brokers to decide on the performance and the deficit in general. The same goes for a free bitcoin exchange, where seasoned brokers use the latest and updated Bitcoin tests for a productive conversation. This prompts them to agree on the book’s selection and usefulness during the exchange.

The Bitcoin Inquiry investigates business areas such as the Bitcoin Biological System, the global economy, and changes in the transfer standard. Given the market charts, the speculator is trying to figure out what will happen next. The custom bitcoin creation attempts to learn some of the previously famous examples and to use the information in those examples.

Earn free bitcoin

Bitcoin-approved traders or professionals apply it to the current market and are satisfied with fruitful exchange options. Another way of studying BTC markets is fundamental analysis. The finance professional bases his assumptions about improving cycles in the face of winning monetary conditions and their impact on Bitcoin.

Although deciding what type of Bitcoin research the finance professional will use to predict future cycles will depend on how people interact with companies, with this in mind, every trader needs to recognize that every broker must determine the appropriate systems for examining the entire market for themselves.

Since you must select only one dynamic probe, you will either need to purchase services from professionals or do the BTC test independently. Swap metric charts reflect everything in different economies, just as they remember all the variables that can affect the same conversion standard.

The broker realizes that it looks terrible to break something down on the Bitcoin chart. It is the best representation of the relationship between the two currencies and sets an individual conversion scale. Studies also show that retail prices are represented as graphic models. You can distinguish an ascending, descending, and even a pattern.

The entire Bitcoin check should be based on facts and not be influenced by different thought processes, as this will determine the outcome or outcome. An updated bitcoin research is clearly in great demand.

What Solutions You Need for the Right Taxes

Much of all household consumption is for necessities such as food and housing. In the lowest income categories, necessities account for about 60 per cent of consumption expenditure, while in the upper categories the corresponding proportion is just over 40 per cent.

The regression is clearly targeted at the lowest income group. The share of VAT will fall to nine per cent when moving to the second lowest income group.

The Difference Really

There is no similar difference between the other groups, and the proportions are much more even. For example, the shares of the third and eighth income groups vary within one percent. In the two highest-income groups, the share decreases by one percentage point.

  • In the two lowest-income groups, no significant progress can be observed even in terms of the overall tax rate. Thus, the progression of direct taxation in this case fails to fully offset the effect of the regressive of VAT.
  • It should be noted here that the review does not include excise duties. Based on the 2012 data, excise duties accounted for five per cent of revenue in the lowest tenth and three per cent in the highest tenth. Based on this, it is likely that excise duties would be targeted at the lowest income categories in the 2016 data as well.

By income or consumption?

An essential part of the debate is against which tax progression and regression are viewed. The view base has a significant effect on the outcome. VAT is a consumption tax, so it has been suggested that it should be assessed in relation to consumption.

  • Next, we present the shares of VAT on gross income as well as consumption. We use two different classifying docile variables, one based on gross income and the other on consumption expenditure.
  • When looking at the shares according to the Tithes, the outlook is clearly regressive. The lowest-income earners pay almost 12 percent of their income, while the highest-income earners account for about five percent.

The share of VAT in consumption expenditure is in the order of about ten per cent in all income decades. In this view, the tax is not regressive, but the progression is quite small. The small difference of one percentage point is probably due to the fact that in lower income groups, a larger share of consumption expenditure goes to necessities such as food with a lower VAT rate. Don’t forget about the small business tax rate  also.

What you Should Know

Looking at the shares of taxes paid by consumption tithes, the outlook is progressive, probably due to a difference in content. The least-consuming tithe pays VAT relative to its income of about five percent, while the highest-consuming tithe accounts for 12 percent.

Working From Home – But in Your Home’s Outdoor Space

If you work at home as a trader, a MetaTrader 5 expert, or just any financial services professional, you might want to consider getting out of your home office and start working in your porch, garden, or veranda. Breathe some fresh air and keep your mind in focus.

Since you would like your outdoor area to seem elegant, you’d want to stay it clean and presentable, not discounting proper outdoor furniture maintenance. You don’t need to be a furniture expert to be ready to lookout of your outdoor furniture. If you’re not very conversant in outdoor furniture maintenance, you’ll want to think about doing the ideas and reminders provided below.

  1. During rainy or snowy days, you’d want to store your outdoor chairs inside in your storeroom. It’s suggested to stack them first before storing so as to save lots of space. While outdoor chairs were designed to weather the rain and snow, they’ll easily get weakened if left outside for an extended time. Outdoor chairs could also be subjected to wear and tear, which is why it’s better to store them when it’s raining or snowing.
    1. Covered daybeds are quite expensive so you’d want to guard them from the rain or snow. It’s suggested to bring them out only they’re going to be used. If it’s the winter season, it’s not recommended to use them because they’ll get covered with snow. They’re not also advisable to be used during rainy days because they’ll easily get soaked with rain water, compromising their quality and sturdiness.
  1. If you’ve got outdoor cushions and you would like to go away them for long period of your time, confirm that they made with waterproof foam otherwise they will easily catch melds. Also, if you allow them under the sun for long period of your time, they will go hard and crumbly.
  1. Timber outdoor furniture pieces are quite sensitive to wear and tear. So as to take care of their quality, it’s recommended to regularly clean them and to re-oil them every six months. Re-oiling timber furniture will prevent it from turning grey. The silvery grey colour timber furniture items may be a results of long exposure to sun and rain.
  1. If you’re living during a high-rise apartment or condominium and you’re planning on purchasing outdoor furniture, you’d not want to shop for lightweight pieces. Lightweight furniture items like those made from plastic or PVC aren’t recommended to be displayed in wind areas. Lightweight materials can get easily blown by strong wind, making them risky to use. If you would like to put furniture items during a wind area, you’d want to take a position on sturdy and heavier pieces.
  1. Plastic outdoor furniture items are relatively easy to take care of. If you’re getting to buy plastic furniture pieces, you’ll want to urge those with black colour. Experts say that plastics with black colour are the foremost immune to UV, which make them not susceptible to fading. Meanwhile, red and yellow plastic furniture items are most sensitive to UV and are susceptible to fading. While white plastic furniture pieces aren’t susceptible to fading, they’ll easily catch noticeable dirt.
  1. Outdoor furniture can easily catch dirt, dust, and even bird droppings so as to stay them clean and arranged, you’d want to regularly hose them down. If you allow outdoor furniture without cleaning them, they will easily develop melds.

Working in your home’s outdoor space may seem weird, uncommon, even impractical, but you will surely see and experience the difference. You may feel better at MetaTrader 5, or have sounder mind when it comes to making big trading decision.

Get Fund for Your Business Easily and Globally

Gone are the days when you have to go tough any stress before you can open and operate a bank account. These days, it is possible to open and operate a bank account without even leaving the comfort of your home. The world is getting better and it is fast become a global village where you can access any product or service from the comfort of your home. Some people also do not need to leave home every day for a 9 to 5 job before they can earn a living. These days, it has become very possible to earn a living right there from the comfort of your home and you will surely enjoy it like never before.  One financial institution you can always trust for this is none other than Currenxie. You can even get a corporate credit card Hong Kong after you have opened a bank account with this institution online.

Several features make this institution one off the best you can ever trust when looking for an online bank and we are going to show you some of these features in the remaining part of this write-up.

corporate credit card Hong Kong

Operate a bank online 

Currenxie makes it possible for all its clients to operate a bank account from the comfort of their homes. You will never have to leave your office or abandon the huge tasks on your desk to travel to a conventional bank before you can open a bank account. These days, you can easily open and operate a bank account online and you will never need to visit any brick and mortar bank before you can do this. After you have opened a bank account online with Currenxie, you will be given a corporate credit card Hong Kong that will make it very easy to transact business with your clients online and offline any time you like.  You will never have to go through any stress at all before you can operate a bank account with this outlet and the services offered here are far better than what you will get from a conventional bank

Get loan with ease

Do you need loan to finance your business? You can also trust in Currenxie to provide you with that loan. The lending service offered here is far better than that of a bank. The conventional bank may take months to process your loan, but this is never the case with Currenxie, where your loans are processed very fast. Additionally, you can open the bank account everywhere you go by downloading the digital payment app offered by the online financial institution.  The cost of operating this online bank is very low compared to what you will have to go through is you depend on the financial services offered by the conventional bank.