My favourite forex indicator is the Relative Strength Index (RSI) because it provides a clear picture of market momentum and potential reversal points. RSI measures the speed and change of price movements, typically on a scale from 0 to 100. Readings...
Stop loss orders are primarily designed to protect investors from significant losses by automatically triggering a sell order when the price of a security reaches a predetermined level. While stop loss orders can be beneficial for short-term traders...
Social trading is a form of investing that allows investors to observe and mimic the trades of more experienced and successful traders in their social network. It can be especially useful for new investors who may not have the knowledge or experience...
The Albanian Lek (ALL) is the official currency of Albania, a country located in Southeastern Europe. It has been the national currency of Albania since 1926, although its current form, known as the "new lek," was introduced in 1992 to replace the...
A Counter Currency is the second currency listed in a currency pair, also known as the "Quote" currency. Currency trading can be perplexing at first because you must always deal with a currency pair. The first currency in the pair is referred to as...
A newbie in forex trading should learn about the dirty float system because it’s one of the most common currency exchange arrangements used by major economies today. Unlike a clean or free float, where a currency’s value is determined purely by...
A Simple Moving Average (SMA) is one of the most common tools traders use to identify buy and sell signals in financial markets. It smooths out price data by calculating the average closing price over a specific period, such as 10, 50, or 200 days....
The daily chart in forex offers several important advantages that appeal to both beginners and experienced traders. One of the biggest benefits is clarity. Each candle on the daily chart represents a full day’s price action, filtering out market...
Opening a forex micro account is a good way for beginners to start trading with smaller amounts of money while learning how the market works. A micro account allows you to trade micro lots, which are 1,000 units of the base currency, ten times...
The classification of a currency as either soft or hard depends on various factors that reflect the stability and strength of a nation's economy and monetary policies. Some key determinants include: