In my previous articles, I’ve gone into detail about how and why trading works for millions of people all over the world. Now, I think it's time to discuss all the different Forex trading sessions so you're well-informed in the best times of day you should be trading. The Forex market can be broken up into four major trading sessions which are: the Sydney session, the London session, the Tokyo session and the New York session. You can expect the following market and closing times during U.S. seasons:
There are a lot of people out in our big world who have probably heard about Forex trading, maybe from a family member, a friend, read an article, or seen an advertisement online, etc. Most likely, it has piqued your curiosity but you’ve never really pulled the plug on learning more. So, this article is for those of you who can relate to that, or for beginner traders who may feel they’re a bit in over their heads.
The currency market, just like any other, is motivated by supply and demand. So, by truly understanding the concept of supply and demand and why it's so important in the currency market will allow you to be successful in your journey. Having a good grasp on supply and demand will make all the difference in your trading career because it will grant the ability to filter through the pile of daily news that will only distract you, and instead focus on the news that will help that will benefit your career.
The terms Bearish and Bullish are often the terms used to describe general actions and positions, either of an individual asset or of the market as a whole. Bear and bull markets have been named after how each animal attacks its prey. A bull typically attacks with its horns swiping upwards and a bear attacks with its claws swiping downwards. To give you a better understanding of what bearish and bullish means, I’ll start by saying that a bear market refers to a decline in prices, usually for a few months, in an asset or single security, group of security, or market as a whole. In whole, a bull represents when the market prices are rising.
Everyone has that one pair. The first one they look at when they look at their platform for the day. The last pair you look at before signing off for the day. Or, if you only trade one pair, it is that pair. Everyone, whether they realize it or not, has a favorite pair. The favorite pair you have may just happen to be the only pair you’ve traded or one of the few pairs you’ve traded and was the most profitable. No matter how your favorite pair came to be or what it means for your trading, sometimes a little change can do a trader some good, especially when your trading maya be in a slight funk. While Apiary Fund has 29 pairs to choose from, looking at them all can be overwhelming, so having a favorite, or favorite few, can be beneficial.
If you’ve been reading and somewhat keeping up on the articles that Apiary Fund has been releasing, a lot of them have been talking about how while trading is a difficult field, but it is somewhat easy at the same time. The transition from that hard to that easy feeling is really just finding a nice strategy that you can execute with the time you have and the goals you want to reach. These can take time to find and reach yourself when starting out, but can be more quickly discovered by working and talking to someone who has been trading for quite some time and has gone through many strategies.
The Federal Open Market Committee (FOMC) is the most critical monetary policy committee in the U.S. The FOMC has the most control over the U.S. Dollar compared to any other entity. To FOREX traders, the FOMC is colloquially known as the “feds” from time to time and is actually not part of the federal government per se. They were established under President Woodrow Wilson in 1913 as a governing board that is a section of the Federal Government, but set up as a private corporation in which the U.S. government bestowed upon monetary decisions. So, as a non-governmental governmental agency, who are and what all does the FOMC do asides offer one of Shawn Lucas’ favorite to trade news events?
When someone says they're a FOREX trader, a lot of times, people will scoff at them. Personally, throughout my time working at Apiary Fund and being at Trader on the Street from the beginning, I have heard that “FOREX is a scam,” "you can’t possibly be making money,” “you can’t make a living off of that,” and so much more. This sort of thing comes with the territory. There are a lot of myths about FOREX; much more than any other trading or investment source out there. So, what are the most common myths, how did they arise, and how do we know they are myths?