Now that you know what forex is, why you should trade it, and who makes up the forex market, it’s about time you learned when you can trade. It’s time to learn about the different forex trading sessions. Yes, it is true that the forex market is open 24 hours a day, but that doesn’t mean it’s always active the entire day. You can make money trading…
Before we go any further, we are going to be 100% honest with you and tell you the following before you consider trading currencies: 1. All forex traders, and we do mean ALL traders, LOSE money on some trades. Ninety percent of traders lose money, largely due to lack of planning, training, discipline, not having…
You can open a demo account for FREE with most forex brokers. These “pretend” accounts have most of the capabilities of a “real” account. But why is it free? It’s because the broker wants you to learn the ins and outs of their trading platform, and have a good time trading without risk, so you’ll fall in…
“Would you like pips with that?” Okay, not that type of order. An order is an offer sent using your broker’s trading platform to open or close a transaction if the instructions specified by you are satisfied. Basically, the term “order” refers to how you will enter or exit a trade. Here we discuss the different types…
As in any new skill that you learn, you need to learn the lingo… especially if you wish to win your love’s heart. You, the newbie, must know certain terms like the back of your hand before making your first trade. Some of these terms you’ve already learned, but it never hurts to do…
So now you’re done! Now you can add multiple time frame analysis to your forex trading toolbox! Using multiple time frame analysis allows you to: Get a bird’s eye view. Here are a few tips you should remember: You have to decide what the correct time frame is for YOU. This comes from trying different time…
At the School of Pipsology, we prefer using three time frames. We feel that this gives us the most flexibility, as we can decipher the long, medium, and short-term trends. Determine Main Trend The largest time frame we consider our main trend – this shows us the big picture of the pair we wanna trade. For example, on…
No, we aren’t about to break out into song like the Glee cast. Here at BabyPips.com, we’ve got our version of a mash-up, which we like to call the “Time Frame Mash-up”. This is where multiple time frame analysis comes into play. This is where we’ll teach you how to not only lock in on your…
Before we explain how to do multiple time frame analysis for your forex trading, we feel that it’s necessary to point out why you should actually flip through the different time frames. After all, isn’t it hard enough to analyze just one chart as a forex trader? You’ve got a billion indicators on, you’ve gotta…
What time frame is best for trading? Well, just like everything in life, it all depends on YOU. Do you like to take things slowly, take your time on each trade? Maybe you’re suited for trading longer time frames. Or perhaps you like the excitement, quick, fast-paced action? Perhaps you should take a look…