Chart patterns to watch out for As your trading knowledge expands, you’ll need to dive deeper into the world of charts. Luckily, we’re here to shed some light on what you need to look out for. This tutorial will explain how charts and chart patterns are powerful tools to use at your disposal. How are…
What are trends and channels? Trend lines, or trends, are powerful but easy-to-use technical analysis tools that can help you determine whether an instrument’s price is climbing, dropping, or moving sideways. If plotted correctly, they can even show you critical levels of support and resistance. Channels function in a similar way but can define support…
What is a breakout? We’ve seen how support and resistance levels can act as boundaries, limiting an instrument’s market movements. But these levels can’t hold forever, so, what happens when they are broken? These events are known as breakouts and can often result in significant price movements and increased volatility. Why do breakouts happen? If…
What are support and resistance? Support and resistance are central to technical analysis, acting as possible boundaries that seem to limit an asset’s market movements. Although setting support and resistance levels is by no means an exact science, they are still deemed so important, traders often base their entire strategy on them. But what exactly…
What is technical analysis? So, you understand how trading works, but are still wondering how to know what to trade and when. Well, traders often inform their decisions by conducting market analysis, which involves utilizing the information available at present, to make an educated prediction about future price movements. There are two main types of…
Common trading mistakes Let’s start by getting this out of the way. Everybody makes mistakes. There’s no such thing as perfection, especially in trading, where even professional traders experience the occasional misstep. But, by being aware of the most common mistakes, you can hopefully learn from them and avoid making the same ones yourself. Failing…
Managing trading biases The first thing to understand about biases is that everyone has them and they play a big role in daily life. In online trading, bias can affect your judgment, leading to decisions that you wouldn’t normally make. Although it’s hard to get rid of a bias altogether, being aware of the most…
How to control your emotions Online trading is an emotional roller coaster no matter how experienced you are. Success isn’t about shutting out all emotions, it’s about being able to control them and not letting them control you. So, what are some of the emotions you need to manage when trading? Doubt Being cautious in…
How to manage risk Risk is a constant in the world of online trading, as it is with any investment. Now that we’ve covered a few of the risks involved with spot forex, let’s look at some ways you can manage them. Diversify your investments Imagine if you took all the money in your trading…
What is risk management? If there’s one thing you need to accept before getting into forex it’s that not every trade can be a profitable one. Nobody wins every time, and that’s ok. A good strategy is one that accounts for possible losses but still sees you potentially profiting in the long run. That’s where…
