There are more and more people who are engaged in forex trading, and most of them wish to make huge profits. But the reality is cruel.To get more news about WikiFX, you can visit wikifx official website.
95% of people in this market lose money, and they may not make much money after working hard for many years. Therefore, for those who want to enter the market, if you do not have enough financial support, do not participate in this cruel game. The difficulty of trading forex is greater than that of trading futures and stocks. If you come with the mentality of getting rich overnight, the result will most likely be a liquidation.
If you are a retail investor, you should focus on the daily chart.
The ones renewed more frequently than the daily chart are called
clutter. If you want to make a profit, dont look at the chart less than
four hours. It is a waste of time and energy. Intraday orders are not
ordinary as retail investors can manage. The more you want, the less you
get. You have to know that the correct direction of effort is to return
to daily operations, otherwise you may lose forever. This is like
climbing a pyramid. The longer you play, the higher you stay on the
pyramid, and the smaller the competition is, and vice versa. Moreover,
short-term trading has to compete with artificial intelligence.
If you follow the four-hour chart, making two or three transactions a month is enough. The more you trade, the more you lose. Don't close the position when you see some profits, and you will suffer from floating losses. Wrong judgment is wrong as it is. So stop loss in time and wait patiently for the next opportunity. The more you trade, the easier you are to become addicted to trading. The easiest way is to uninstall the MT4 and MT5 software from the phone, and only operate it on the computer.
WikiFX is a global Forex inquiry platform and provides real-updated rankings of
Forex brokers. So if you are seeking for a broker to start your Forex trading journey, please search the detailed information about the broker on the WikiFX.
When we talk about the Forex trading people always wonder if every lots made means the exact number of worth held in our hand. My answer is absobloodylutly No.To get more news about WikiFX, you can visit wikifx official website.
We conduct trade with brokers instead of making currencies exchange directly with the counterparties in the market. Brokers work as a linkage between the market and us through the contract for differences(CFD). For brokers, they earn the basic trade fee agreed beforehand, which is referred to as the cost of trading.
The contract for differences (CFD) offers Forex investors an
opportunity to profit from price movement without owning the underlying
asset. It's quite straight that people earn the profit generated from
the differences between the enter position and the exit position. The
contract is similar to the betting between you and your friends at the
football match. You don't have to own the football team before the bet.
And brokers provide services including finding the counterparties with
opposite expectations, computing profit or loss and making the delivery.
Normally investors always initiate withdrawals for securing their
profit. The investors have the right to withdrawal at any time and in
any amount they like. However, the brokers only make the settlement only
in a fixed time term base on the outcome of the CFDs.
1, CFDs provide higher leverage than traditional trading. It enlarges your buying power to meet higher capital requirement.
2, Many CFD brokers offer products in all the world's major markets, allowing around-the-clock access. Investors can trade CFDs on a wide range of over 4,000 worldwide markets.
Some disadvantages
1, CFD trading is fast-moving and requires close monitoring. Your margins you need to maintain; if your capital available cannot cover the loss in values, your broker closes your position in anyways without your permission.
2, the CFD industry is not highly regulated and monitored by the government. There are excellent CFD brokers, but some brokers are not trustworthy due to the background.
If you want to know the information of the brokers you are interested in please follow WikiFx up and download the APP.
Have you ever found or received something rare? A typewriter or an old dollar note? What were your emotions? Delighted, honored, lucky, treasured?To get more news about WikiFX, you can visit wikifx official website.
Those emotions are elicited whenever I see this chart pattern. This chart pattern is rare and explosive in nature, often bringing in the money in a short period of time. What is this chart pattern? Why is it explosive?This chart pattern is caused by profit taking in a bull market, followed by renewed bullishness.
Heres a quick recap: Prices are in an uptrend in a bull market. On the other hand, prices are in a downtrend in a bear market.
As the cup and handle pattern is caused by profit taking in a bull market, the prior trend must be up.
In other words, this is a continuation chart pattern. Therefore, this chart pattern is usually found in the middle of an uptrend.
The cup and handle pattern looks like 2 “rounding bottoms” stuck to each other. The 1st “rounding bottom” is larger (width and depth) while the 2nd is smaller.
What happens In the Cup And Handle?
Price has been climbing prior to this chart pattern. The traders who had bought early into the uptrend are sitting on profits. They decide to take their profits off the table (either partially or fully), resulting in a decline in prices.
Those who have missed out the initial uptrend spot the decline in prices and feel that it is a worthwhile opportunity to go Long now. Price starts climbing and it hits a resistance level at the top of the cup (shown in grey in the diagrams).
The price retreats as traders sell, forming a shallow bottom (left part of the handle). Buying increases and the right side of the handle is formed. Traders spot this chart pattern and continue buying, resulting in a breakout in price, keeping the uptrend intact.
When financial markets have been eyeing on issues such as China-U.S. relations, the U.S. presidential election and the second wave of the pandemic, Europe seems to be gearing up for a black swan, an event in which a deterioration will trim the recently weak euro even lower.To get more news about WikiFX, you can visit wikifx official website.
A barrage of large-scale demonstrations broke out after Belaruss presidential election because local people suspected Lukashenka conducted ballot rigging and called for his resignation. With an 80% approval rating and the strong support from Russian President Vladimir Putin, Lukashenka won the re-election and refused to step down, which worsened the situation on the ground.
The European Union officially refused to recognize Lukashenka as the new president of Belarus, saying the announced results were fraudulent and did not convey legitimacy. At the same time, the UK declared it would impose sanctions against Belarus while French President Emmanuel Macron also called on Lukashenko to step down. Nevertheless, the Belarusian government still took a hard line and accused outside meddling in the internal affairs. It seems Belarus is seeing further deterioration rather than embracing a peaceful settlement.
While the ostensible opponent of the EU is Belarus, the actual one is Russia. The battle between the two sides over the Belarus dispute will upgrade the tension in Europe. Once the situation in Belarus gets out of hand, the euro may swallow a bitter pill.
In the financial market, several events have staged their performance: the UK-EU trade talks from Monday to Friday, the first US presidential debate and the release of US GDP on Wednesday, the EU summit on Thursday, and the release of US jobs data on Friday. The EU summit was expected to see the sanction against Belarus unanimously passed, thus Russias response would be thrust into the spotlight. These events would spoil the fun in the financial market.