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WHAT ARE THE CHARACTERISTICS OF A GOOD FOREX INDICATOR ?

In business, experience and knowledge are closely related and critical. Trading forex is also a business because it has its theories that must be understood. You can understand these theories by reading about them. However, experience comes by practicing what you learn.However, to trade, you have to choose the right indicators that fit your strategy. Nevertheless, it is not an easy task to do because most people find it hard to determine what an indicator should have. Here are two features every good indicator must possess.

Easy to understand 

An indicator should be so simple that it helps you to make concrete decisions. Interestingly, technical factors are important reasons to aid your trading decisions. Your indicators are simply formulas created to help analyze the market better. Therefore, a good indicator must put this into consideration to make everything as simple as possible.

Not Complicated

Secondly, besides its simplicity, it shouldn’t be complicated when used. At times, it is easy to understand the mathematical calculation of the indicators but complicated when you want to implement it on a chart. A complicated indicator will add more confusion to your trading decision and eventually drain your capital.Once you understand the indicator and find it not complicated when analyzing the market, then you have found a good indicator. However, you must realize that there is no perfect indicator. Every indicator has good and bad sides. You only have to look for ways to use the weakness to your advantage.

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There is no extra charges for any buyers .basically it is one time purchase and then you can use it as long as you want.

What is forex trading?

FOREX is a word driven from Foreign Exchange. The exchange market, also referred to as the forex market, is that the world’s most traded financial market. Read on to find out the way to become a forex trader with our comprehensive Beginner’s Guide. You’ll find everything you would like to understand about forex trading, what it's , how it works and the way to start out trading.

Forex trading is that the method of speculating on currency prices to potentially make a profit. Currencies are not traded as single ones; they are traded in form of currency pairs. As a result, when exchanging one currency for another, it seems like you are is speculating on whether one currency will rise or fall in value against the opposite .

Most traders speculating on forex prices won't decide to take delivery of the currency itself; instead they create rate of exchange predictions to wish advantage of price movements within the market.

What is forex?

Forex is online currency exchange – the transaction of adjusting one currency into another currency. This process are often performed for a variety of reasons including commercial, tourism and to enable international trade. The exchange (also mentioned as forex or FX) market refers to the worldwide marketplace where banks, institutions and investors trade and speculate on national currencies.

What is the forex market?

Foreign exchange markets are one among the foremost important financial markets within the world. Their role is of utmost importance within the system of international payments. so as to play their role efficiently, it's necessary that their operations/dealings be trustworthy. Trustworthy cares with contractual obligations being honored.

The forex market is far and away the most important and most liquid financial market within the world, with an estimated average global daily turnover of quite US$6.5 trillion — which has risen from $5 trillion just a couple of years ago. The forex market is hospitable buy and sell currencies 24 hours each day , five days every week and is employed by banks, businesses, investment firms, hedge funds and retail traders.

 One critical feature of the forex market is that there's no central marketplace or exchange during a central location, as all trading is completed electronically via computer networks. this is often referred to as an over-the-counter (OTC) market.

How many different forex markets are there?

Actually, there is not only one forex market in which you can do trading. Different kinds of forex markets, as you can see in the list above, are Spot Market ,Forward Market, Future Market, Option Market and Swaps Market.

Spot Market

These are the quickest transactions involving currency within the exchange market. This market provides cash to the buyers and sellers as per the present rate of exchange . The commodity exchange account for nearly one-third of all currency exchange, and trades usually take one or two days to settle transactions. this enables the traders hospitable the volatility of the currency market, which may raise or lower the worth , between the agreement and therefore the trade.

There is a rise in volume of spot transactions within the exchange market. The last category accounts for nearly 90 percent of all spot transactions are administered exclusively for banks.

Other forex markets are referred to as derivative as a result of the fact that they derive their value from the underlying exchange rates.

As per the Bank of International Settlements (BIS) estimate, the daily volume of spot transaction is about 50 percent of all transactions in exchange markets. London is that the hub of exchange market. It generates the very best volume and is diverse with the currencies traded.

Understanding Currency Pairs

A ‘currency pair’ is formed from a base currency and a quote currency, whereby you sell one to get another. the worth for a pair is what proportion of the quote currency it costs to shop for one unit of the bottom currency. you'll make a profit by correctly forecasting the worth move of a currency pair.

forex market offers many combinations of currency pairs to trade including the majors which are the foremost popular traded pairs within the forex market.

What is a base and quote currency?

A base currency is that the base currency listed during a forex pair, while the second currency is known as the quote currency. Forex trading always involves selling one currency so on buy another, which is why it's quoted in pairs – the price of a forex pair is what proportion one unit of the base currency is worth within the quote currency.

to understand easier, let us look at one example: think about GBP/USD. within this currency pair, GBP is that the base currency and USD is that the quote currency. Rising or falling of dollar price, will influence pond; and vis versa. So if you think that that that rock bottom currency during a pair is perhaps getting to strengthen against the quote currency, you'll buy the pair (going long). If you think that that it will weaken, you'll sell the pair (going short).

Types of currency pairs in forex

There are three main types of currency pairs as you can see in the picture.

Major currency pairs

The most traded currency pairs within the world are called the majors. they're generally the foremost liquid and attractive to all or any sorts of forex traders. The EURUSD is far and away the foremost traded pair, representing on the brink of 30% of all daily forex trades on the whole forex market.

Minor currency pairs and crosses

Currency pairs that don't contain the US Dollar are referred to as ‘crosses’. A currency pair involving a serious non-US Dollar currency would even be referred to as a ‘minor currency pair’.

The most common currency pairs of each type can be seen in the picture below.

Forex market terms and idioms

In order to start trading in the world of forex, firstly you need to be aware of forex market idioms and what each of them means. Knowing about forex market idioms will be so helpful; because this can aid you communicate with others. Being aware of what forex terms and idioms, specially can be so helpful when talking to your broker.

But…wait a minute…what does broker mean?!

 Don’t worry! Follow us in this post and we will teach you all the forex terms such as margin, broker, risk management, etc.

What does “forex broker” mean?

A forex broker is a company of financial services. A broker usually help traders by providing them access to a trading platform for forex trading; which means buying and selling foreign currencies. forex brokers are referred to as retail forex brokers or currency trading brokers. No matter what you call them, the things they do for you the same.

Why are Forex Brokers important?

This mostly comes from two aspects of forex markets; that forex markets are global and available all the time( working 24 hours a day). You can not always keep looking to the monitors of your computers to find the golden points for trading; so just you may decide to use the trading platforms which your forex broker provides.

Who are forex brokers’ clients?

The clients of forex brokers include retail currency traders. These traders use these trading platforms for speculation on the direction of currencies; like guessing that their value is going to rise or fall. Another important group of forex broker clients include large financial services firms. These traders usually trade for of investment banks and other customers.

Why there are many different forex broker?

Each and every forex broker firm is able to handle just a small portion of the of this great foreign exchange market; not all of it. This can be the most important reason why there are many different brokers.

What is margin trading?

You must have heard of margin and margin trading. One of the interesting aspects of forex trading is margin. But what is margin? in forex markets, margin trading is defined as the process of making a deposit with a forex broker in order to being able to open and maintain positions in one or more currencies. Margin trading enables traders to extend their exposure to the market. this suggests both profits and losses are amplified.

What is forex margin?

Margin isn't a price or a fee, but it's some of the customer's account balance that's put aside so as trade. the quantity of margin required can vary counting on the brokerage and there are variety of consequences related to the practice.

What are Margin Accounts?

A brokerage account usually involves a sort of borrowing, so as to extend the dimensions of an edge and is typically an effort to enhance returns from investing or trading. for instance , investors often use margin accounts when buying stocks.

The margin allows them to leverage borrowed money to regulate a bigger position in shares than they'd rather be ready to control with their own capital alone. Margin accounts also are employed by currency traders within the forex market.

What does forex order mean?

Orders are critical tools for any sort of trader and will always be considered when executing against a trading strategy. Orders are often wont to enter into a trade also as, help protect profits and limit downside risk.

 there tends to be several basic forex order types all brokers accept; although these may vary between different forex brokers.

Different sorts of forex order

There are many various sorts of forex orders, which traders use to manage their trades. Understanding the differences between the order types available can assist you determine which orders best fit your needs and are best suited to assist you to succeed in your trading goals.

Market order

The order is perhaps the foremost basic and sometimes the primary FX order type traders encounter . even as the name implies, market orders are traded at market. Typically, scalpers and day traders believe market orders to enter and exit the market quickly, in accordance to their strategy.

Limit order

A limit order (also mentioned as a “take profit” order) is an order to shop for or sell at a specified price or better. A sell limit order is filled at the required price or higher; buy limit orders are executed at the required price or lower.

A limit order that's attached to a currently existing open position (or a pending entry order) with the aim of closing that position can also be mentioned as a "take profit" order.

Stop order

A stop-loss order triggers a order when a predefined rate is reached. A buy stop-loss order triggers a order when the asking price is met; a sell stop-loss order triggers a order when the price is met. Both stop orders are executed at the simplest available price, counting on available liquidity. Stop orders, also called stop loss orders, are a frequently wont to limit downside risk.

Contingent Orders

Contingent orders combine several sorts of orders and are wont to execute against a selected trading strategy. Contingent orders require that one among the orders is triggered, before the opposite order becomes activated.

What is forex risk management?

Forex risk management refers to implementing a group of rules and measures to make sure any negative impact of a forex trade is manageable. An efficient strategy requires proper planning from start to end, because it's not an honest idea to start out trading then attempt to manage your risk as you go. Exchange rate risk is that the risk related to changes to the costs that you'll buy or sell currencies.

Interest rate risk

it is that the risk related to the explosion or decrease of interest rates, which affects volatility. rate of interest changes affect FX prices because the extent of paying and investment across an economy will increase or decrease, counting on the direction of the speed change.

Liquidity risk

It is that the risk that you simply can’t buy or sell an asset quickly enough to stop a loss. Albeit forex It is usually a high-liquidity market, there are often periods of illiquidity – counting on the currency, and government policies around exchange

Leverage risk

It is that the risk of magnified losses when trading on margin.