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Top Forex Forums Dec 03, 2021

Are you an up-and-coming forex trader playing with the markets? If you want to keep your strategy current, you need to be on top of market information. News sites are important to all traders, but so are forums. Forex forums put you in touch with other like-minded traders looking to succeed. This post unpacks top forex forums online.

#1 Babypips Forum

If you’re a forex newbie, then we’re sure you heard about Babypips while conducting your research and education. This discussion board focuses on new traders, tossing them all into the ring to learn from each other experiences.

There are some useful sub-forums for experienced traders, with the “Analyst Arena” being one of our go-to places for market strategy and information. The platform has several dedicated sections for There are dedicated sections for fundamental and technical analysis, swing and day trading strategy, and an automated trading strategy subforum.

#2 Forex Abode Forums

If you’re looking for a forum offering you some of the best discussion on technical analysis, Forex Abode Forums is a great destination.
You get access to a large variety of subforums dedicated to forex trading and strategy development, with plenty of lessons on technical analysis, from reading indicators to analyzing support and resistance. The forum has more graphics than others and a stand-looking minimalist front end that’s nothing special.

You also get access to some useful tools to enhance your trading strategy. Check out the forex sentiments meter, free trading algorithms, and the section on automated trading systems.

#3 Forex Factory

The Forex Factory is one of the leading online Forex platforms, and it has a reputation for being one of the best independent forums for mid-level to experienced traders. You get access to nine sub-forums, with topics like“Commercial Content,” “Interactive Trading,” “Trading Discussion,” “Trading Systems,” “Platform Tech,” “Broker Discussion,” “Rookie Talk,” “Trading Journals,” “Commodities and Stocks,” and others.

The homepage has a highlights section displaying the most recent posts in threads throughout all subcategories. You also get a useful trading calendar, market updates and news, and access to several online market sources.

#4 EliteTrader

If you’re looking for a simplistic interface and fast conversation, we recommend going to the EliteTrader forum. This platform doesn’t break everything into categories like the others. Instead, it utilizes a central message board design. It makes navigating the threads challenging, but learning to use the search function will help you uncover the topics you’re looking for online.

However, this format has an advantage. Everyone, including the top traders, see your message when you post it, netting you more engagement on your posts. Just make sure you ask good questions.

#5 MT5 Forum

The official forum for MetaTrader 5 users is a popular forum for people using the platform in their trading strategy. Since many brokers support free MT5 software for their clients, it’s not surprising to see this forum get so much traffic.
There is plenty of information for both MT5 and MT4 users, giving you tips on using both platforms in your trading. Along with instructional threads and tips, you’ll find other threads regarding market events and news.

Forex Day Trading - A Smart Guide for Curious Individuals Jun 25, 2021

Forex day trading is fast turning into an alternative for prospective investors. If you are interested to know what it offers, here are important tips.

What exactly is forex and what is foreign exchange trading?

Forex is known as the shortened term for foreign exchange. Foreign exchange comprises the timely and right forecast of trade charges involving two countries.

Foreign exchange trading also known as forex day trading, on the other hand, may be the trade method. It involves the synchronized buying and selling of legal tender. Within this design, traders can buy and sell one currency for another. For instance, an investor can get and sell yen for the dollar.

The trade also involves ideas such as currency pairs and base currency bought along with counter currency sold. The currency pair works as the sign of counter currency necessary. These indications identify how many counter currency units are essential to acquire a single device of the base currency. This method in turn generates the trade value or price of one currency with regards to another.

Exactly what can influence foreign currency levels?

Public, financial and political variables might influence it. For example, if Japan all of a sudden comes into civil war, their currency's value can fall substantially.

What helps make forex a good investment option?

Forex day trading is a fantastic investment prospect as a result of its characteristics. In trading foreign currencies, you may trade nearly anytime. Industry platforms run 24 hours per day at five days a week in a lot of countries. If you get in the trade, chances are you can do it anytime it is suitable. You can be up at 2 A.M. on a Tuesday morning and still take part in trade.

The time overall flexibility also makes it possible for more time for other things. This may be particularly useful for people who cannot quit a regular jobs or businesses. The platform makes it possible for interested parties to trade in their own time and in their very own terms.

Additionally, getting into it will not demand hiring individuals. Compared to beginning a business, you will not need to employ employees or hand out salaries and fringe benefits.

What are the potential challenges?

As with all other opportunity, the greatest risk isn't acquiring profits. As a person enters the trade, that person spends time and funds. This investment will not always imply acquiring additional money back for exerted initiatives.

The very good news, even so, is you've got control in taking risks. Foreign exchange concerns determining and projecting rates and this indicates having control. You have the choice whether to invest or not. You can also control which currencies you're going to invest in.

What must a person do if she or he wants to participate in foreign exchange trading?

Participating in this trade will demand forex training. You will need to know at least the fundamentals before undertaking any actual trading.

Forex training is the most efficient solution as courses addresses all these subjects and more. Based on the institute that supplies classroom sessions, you may also gain tips along with other useful tips. You might start using these reminders when you make calls in actual trades.

Forex training is not difficult to find. Go on the web as the Net has hundreds of accessible choices. Evaluate which business can give you the most complete data at the ideal time to begin trading in the near future.

Are Good Investors Born or Made? May 28, 2021

Most rookie investors think they can achieve success learning how to trade the stock markets on their own or from some cheap share trading e-course developed by an inexperienced "Market Investor"; no wonder 80% of them fail miserably.

However just like any other profession, share dealing should be learned from a professional stock market investor with experience and sound trading systematic rules. I bet you wouldn't try to learn medicine on your own or from a voodoo trickster, would you?

If you committed the time, I am sure, you could learn medicine by yourself. But how many patients are you willing to lose before you leverage from the experience of a good mentor. I ask you now, how many dollars are you willing to lose before you seek the help of a professional investor?

Many people think successful investors are born with some genetic gift, but the truth is they just had the right training. Stock market (more on markets here) is the most profitable market of the world and anyone that has the right education and commits the time to learn will be able to gain some dollars from it.

There is a good clue that will help you know that you are on the right path, that you have found a good system or a trustworthy mentor-investor.

First a good sound system will never leave things to interpretation. Rules will be precise and they will be applied in a mechanical way. Trading the market is not art it is science. I always wonder how do all those trickster investors, that sell funny systems, can track their success rate if there is always a subjective element in their approach. How are they able to gather measurable data if there is always an element that is left to interpretation?

Doing things right from the beginning is crucial for a rookie investor's success, it will help you save a lot of dollars and avoid much of the pain involved in the learning curve on how to trade the market. You will realize in time that you need no special skills or natural talents to become a successful trader. You just need the right education and the discipline and commitment to learn.

I know from experience that the best share traders in the world are not born; they are made. Anyone can be a successful investor. If you are lucky enough to find a good mentor and you leverage from their knowledge the odds will be definitely in your favor.

The Mindset You Need to Conquer the CFD Market Apr 23, 2021

Trader's mindset plays a vital role in CFD trading, here, I offer you, some principles and tips for starting your path in developing the right mindset.

1. - Know what you want, and be as specific as you can.

How are you going to know if you achieved your goals if you don't know what they are? How are you going to know if you are getting closer if you don't know where are you headed?

The first step in achieving anything worthwhile in life is knowing what it is that you want.

The second part; you have to be as specific as you can. Picture this: a man goes to his boss and asks him for a rise. His boss gives him a one cent rise and sends him back to work. This man was not specific. Next time he should have a figure in mind.

2. - Don't do things half-way.

"Do or do not... there is no try" - Yoda

I love this quote from Star Wars. In the military people are thought that trying is failing. Don't try... do!!!

When I was young my father told me the story of Hernan Cortes. Before launching his attack he burned his ship leaving his man no other option but victory. If you really want to be a successful CFD trader, do as Cortes did, burn your ship and accept nothing but victory.

3. - Discipline

In this life nothing can be acquired without discipline. Remember the story of the turtle and the hare. In the CFD market small profits can add up very quickly if you are consistent.

4. - Watch your inner-dialogue.

If your inner dialogue makes you doubt yourself every five minutes, how are you going to have discipline? How are you going to gain the confidence needed to be a successful CFD trader? Be positive and stop talking yourself down!!

5. - Learn to think by yourself.

You need to avoid the traps of the group thinking. True achievers lead they never follow. Life gave us one Henry Ford, one Benjamin Franklin, one Steve Jobs.

Shakespeare wrote: "All the world is a stage, and we are mere actors." Decide the role you are going to play in this life, don't let others decide for you.

In the CFD Market around 80% of traders are losers, do you want to follow them?

I recommend that you don't comment your CFD trading experiences with everyone. As a general rule people are not going to be very helpful. Most of the people, even the ones we love, tend to over criticize; and if you don't have an iron will it can damage, a lot, your learning process.

6. - Confidence.

We tend to be our worst enemies. Even when we did our homework and are very well prepared, when the time comes, we doubt ourselves. Confidence is not something you are born with, it is something you develop. The only practical way I know that will help you cultivate your confidence is experience. When you do things you workout your confidence muscle.

If you want to develop your confidence in the CFD trading area... trade. As time goes by you will develop a feeling of how the market works and your confidence will raise.

7. - Enjoy every part of the way.

The best traders of all time are those that love their work. They enjoy every part of the trading process. Occasional setbacks are nothing to them because they know it's just part of the deal. Learn to enjoy your trading experiences and your odds will increase dramatically.

8. - Live in the moment.

When you are trading, don't think about past victories and losses; it can be very harmful. Leave your past experiences in the past. Thinking about your setbacks will damage your confidence. And thinking about your victories can easily transform you into a reckless trader. Live in the know, enjoy the moment.

I hope this is helpful. I know anyone c

Biggest Mistakes in Spread Betting Mar 26, 2021

Financial spread betting (shortly spread betting) has always been a dream land for many where you can easily make as much money as you want, unfortunately, it is far from the truth as around 80 percent of spread bettors lose money and eventually exit the market. In here, we'll have a look at the most common mistakes of retail traders and try to learn from their difficulties and struggles.

Before we move any further, it is important for us to note that financial spread betting is a financial market and there are no free "gifts or income" for everyone. Moreover, there is nothing called the Holy Grail or the Magic Formula and every trader can lose money, even the most experienced ones, because the financial market is extremely volatile. It does not really matter how many books on spread betting or markets have you purchased and read, it also does not matter how much time you have spent to get insights on charts, it all depends on your experience, knowledge, patience, and how the market behaves at a specific point of time.

If you want to be a successful spread betting trader, you really need to understand that you will win one day and may lose the other day using the same trading strategy. However, a well-formulated and clearly-defined trading methodology can significantly increase your chances of making profits and reduce your chances to lose money. Unless you have a solid trading strategy and stay disciplined with it, you will be losing your money. Moreover, financial spread betting should never be influenced by emotions such as fear, over-confidence, and revenge as that can considerably affect your chances of making profits and even surviving in the financial markets.

Moreover, spread betting traders should have realistic expectations from their trades and any hopes of making billions overnight can only put the trader under huge stress and lead to nothing worthwhile. Retail traders should only expect above-average returns from their trades and must take only calculated risks. The best way is to trade only in those trades that offer a 3:1 ratio of profits and losses. This means that the best trades are those that are supported by financial planning and focus more to be on the safe side rather than gambling on bad trades. In addition to that, spread bettors should always emphasize on protective stops and define an exit point even before an entry point is established so that high standards of financial stability are created and managed at all times.

CFD Brokers - Getting You From Point A to Point B Feb 26, 2021

You are ready and roaring to finally trade financial markets through CFDs (Contracts For Difference), but before you can actually start trading, you need to open an account with a CFD broker. The process might seem complicate but in fact, it's really straight forward and will take you just a few minutes but first you need to compare CFD providers and choose a broker which provides the markets you actually want to trade. It is imperative that you only consider regulated and reputable brokers and ideally with a great reputation and experience.

The shortest route to becoming an able CFD trader is by actually trading. With some basic information in your pack, you can open a regular trading account with a CFD broker. After all, the main role of brokerage firms is to provide people with a platform so they can participate in the market. However, take note that this means you will be risking some money. You need to buy financial markets you will trade. For you to do this, you will need money in your trading account. You'll surely be serious when you know your money is on the line.

But for those who'd rather be safe, there's a way to get the experience without getting the risks. Again, CFDs brokers make this way possible. What you need to do is to hunt for a free demo account. Instead of opening a regular account, get the free one which is also similar to the regular in terms of appearance and functionality. The only difference is you only trade on simulated situations with the free CFD account. You are not actually connected to the real and live financial market. You may say it's like playing, but playing this game will help you hone your trading skills at no cost at all.

Next, you must remember that to get to Point B from Point A, you'll need to stock up on your knowledge bank. You'll need helpful information to start trading and you can get this info from a CFD broker. Brokerage firms will have their own educational websites that are filled with helpful articles and videos. In some cases, the firm will refer you other websites that are reliable. In any case, you'll get the information for free and this will help you move closer to becoming an able trader.

Experience and a bit of education - those are perhaps the two requisites of starting in the contracts for difference trading business. And with the help of CFD brokers, getting these requisites would be easier.

Forex Trading Markets: A Head's Up for Newbies Feb 12, 2021

In a simple sense, currency trading is what happens when one person buys another currency using another currency. For example, if an American guy visits India, he might need to exchange his US Dollars in Indian Rupees, for him to be able to buy products in India.

When you compare a Forex trader against the American guy in India, the only difference between them is their purpose. The American guy traded his currency because he needs to buy Indian goods. On the other, while the Forex trader exchanges his currency because he hopes to gain money when the value of the currency he bought appreciates in the future.

Gaining money in Forex trading markets is often challenging and risky. Currency trading is like buy and sell. You can buy a cheap bike, and then sell it at a higher price. In Forex, you can buy a certain currency that currently has a low value. Then, you can wait for that currency to gain a higher value. When that time comes, you can resell that currency. And of course, you will gain money in the process.

As this article mentioned a while ago, Forex is risky. The risky part is when you buy a certain currency that has a value that will soon depreciate further. If you gambled all of your money in purchasing that currency, you might need to wait a long time before you can get back the investment that you have made.

As you can see, gaining money on the currency trading market might take a while. However, it is possible that one can earn small amounts of money in short amounts of time. Traders with enough experience will be able to use their keener market sense to make these trades.

In addition, profits and losses will be only determined after you close a trade. You can learn about all of these when you practice trading in an online simulator first. This will allow you to experience trading and decide if it is something that you really want to get into.

When you decide that you want to start trading currency right away, you should open an account first. The simplest way to do that is to visit an online broker's website. There you will need to fill out and submit a form to get yourself registered.

Remember that some brokers may require you to submit or fax a copy of your W-9. Also, some might ask for an initial deposit that may amount to $500, though, some might ask for a bigger or smaller amount. Your request might take a day or two before your account becomes active.

Again, Forex trading is risky. Make sure that you study how it works first before you embark on it. And in case you were able to get an excellent broker, he could provide you with video and article tutorials to help you get a head start on the Forex trading markets.

Forex: The Turtle and The Hare Jan 08, 2021

Dear friends, I have experienced such wonderful success over the last month and I just wanted to let you know that there is much money being made out there, you just need to go get it. I would like to talk to you today about what it takes to become a successful Forex trader. The first thing that I noticed about all of those that I have worked with and heard about, is it is of absolute necessity for traders to have the right mindset, clear thinking, that we might know exactly what to expect when day trading forex.

Another aspect of being successful in Forex is learning how to keep focus on remaining consistently profitable in the long-term trades, while still enjoying smaller short-term wins. The one single word on the lips of EVERY successful trader is "consistency." Successful traders know that success means consistency more than it means immediate profits. Of course, all traders love to make the immediate profits, but the real winner in this game is the one that can do that consistently. So please remember, you may be able to get the "jackpot" in the Forex Market every once in a blue moon, but if you desire to get it on a longer basis, you may have to learn by being willing to accept the smaller unimpressive gains.

Traders who don't really understand the forex market or who are hoping for a quick "buck" are only interested in the immediate profit; whereas successful traders understand that it's not about that, but they rather the consistent profits. I have been in this game long enough to know that ignoring the "nickel & dime" profit trades, so to speak, and always aiming for a "Mega-millions trade" is a sure-fire way to become an unsuccessful Forex loser. There are no Forex gods; ones who can repeatedly predict huge gains on any single trade. There are no "holy grail", though I know that you see the advertisements in the Market - no one always predicts the 400-pip trades, it just doesn't happen.

Well that was the bad news - don't always go for the "monsters" in the Market, now it is time for some good news. Though most people can't accurately predict the massive trades, many can and do predict a host of small-profit trades that create the same, if not more, profit than people who get extremely lucky and hit the Forex "jackpot" once or twice.

So what is the bottom line: Successful traders understand that a good trade is not about winning or losing; it is about whether or not they followed their forex trading plan exactly. Whether you are a beginner or someone who has been trading for years, like me, the point is that even if you lose a little money, as long as you stayed with your plan, success will follow. My suggestion would be to look at your profits at the end of each week and take a tally. Look at your pluses and your minuses and take a good look at what caused each - you will especially be looking at overall trends. Learn how to tweak some of the trends you notice and, instead of reacting to individual trades, develop a consistently profitable system of trading.

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