Explained for beginners: Forex terms

Forex terms refer to the specific language and vocabulary used in the foreign exchange (Forex) market, which is the largest financial market in the world where currencies are traded. Understanding Forex terms is essential for anyone who wants to participate in Forex trading or follow the market.

Explained for beginners: Forex Trading Tools

Forex trading, also known as foreign exchange trading, involves buying and selling currencies in order to profit from their fluctuations in value. To effectively trade forex, traders utilize a variety of tools to analyze the market, make informed trading decisions, and execute trades. Here are some of the most common tools used in forex trading:

Manual of choosing Forex Trading Account Type

Forex brokers typically offer different types of trading accounts to suit the needs of different traders, from beginners to professionals, and with varying trading styles and preferences. Here are some of the common account types offered by forex brokers:

Understanding the seasonal tendencies in forex

Seasonal tendencies in forex refer to the phenomenon where certain currency pairs exhibit a predictable pattern of behavior that occurs during a specific time of the year. These patterns can be related to economic, social, or geopolitical events that occur annually, affecting the supply and demand of a currency pair. These seasonal tendencies can be helpful for traders to understand the potential movements of these currency pairs during certain times of the year. However, as with all trading strategies, it is essential to incorporate other factors, such as technical and fundamental analysis, to make informed trading decisions.

Manual of Arbitrage trading in Forex

Arbitrage trading in forex involves exploiting price differences between two or more markets to make a profit. Essentially, it involves buying a currency in one market and simultaneously selling it in another market where the price is higher, thus profiting from the price difference.

Explained for beginners: Over-the-counter (OTC) trading

Over-the-counter (OTC) trading is a decentralized market where trading is done directly between two parties without the involvement of an exchange. It is also known as off-exchange trading. In contrast to exchange-traded markets, OTC markets are generally less regulated, have lower trading volumes, and involve a greater degree of counterparty risk.

Understanding the HKMA and Dollar pegging

HKMA stands for Hong Kong Monetary Authority. It is the central bank of Hong Kong, responsible for maintaining the stability and integrity of the Hong Kong monetary system. The HKMA was established in 1993 and is responsible for a range of functions including issuing banknotes, regulating and supervising banks, promoting monetary stability, managing the exchange rate, and maintaining the stability and integrity of the financial system.

Understanding of Stop Hunting in forex trading

Stop hunting is a strategy used by some traders to intentionally trigger the stop-loss orders of other traders. The idea behind stop hunting is that many traders will place their stop-loss orders at the same price level, creating a cluster of orders that can be triggered by a sudden move in the market. Traders who engage in stop hunting believe that if they can trigger these stop-loss orders, they can create a rapid market movement that they can profit from.

Explained: Dollar-cost averaging strategy

Dollar-cost averaging is an investment strategy that involves purchasing a fixed dollar amount of an asset at regular intervals, regardless of the asset's price. The goal of this strategy is to reduce the impact of market volatility on the overall cost of acquiring the asset. By investing a fixed amount at regular intervals, the investor is able to average out the cost of the investment over time. This means that the investor will buy more of the currency pair when prices are low and less when prices are high, effectively reducing the impact of market volatility on the overall cost of the investment. Additionally, dollar-cost averaging can help investors to build a long-term investment strategy that is focused on consistent, steady gains rather than short-term market timing.

Explained for beginners: the demo account

A demo account is a type of trading account offered by brokers that allows you to practice trading in a risk-free environment. A demo account usually simulates the real trading environment with the same trading platform, tools, charts, and features. However, the difference is that you use virtual money instead of real money to make trades.

Understanding of the GDT order

In forex trading, "GTD" stands for "Good Till Date." It is an order type that allows traders to set an expiry date and time for an order, after which the order is automatically cancelled if it has not been executed.

Explained: The Turtle Trading Strategy

The Turtle Trading Strategy is a trend-following trading strategy developed by Richard Dennis and William Eckhardt in the 1980s. The strategy is based on the idea that a group of novice traders can be taught to trade successfully using a set of specific rules. The Turtle Trading Strategy involves using a combination of technical indicators and price action to identify trends in the market. The strategy is designed to capture the momentum of a trend and stay in the market for as long as the trend persists.

Understanding the mental hacks in forex trading

Forex trading can be a challenging and stressful activity, and it requires a lot of mental focus and discipline. Mental hacks are techniques that you can use to help you improve your forex trading strategies by managing your emotions and thoughts. Here are some mental hacks that you can use to improve your forex trading:

Explained for beginners: promotions in forex trading

Forex brokers offer promotions to attract new clients, retain existing ones, and differentiate themselves from their competitors. Promotions can include bonuses, cashback offers, trading competitions, and other incentives that may appeal to traders. By offering promotions, brokers can increase their client base, encourage traders to trade more frequently, and build brand loyalty. The common promotion types including:

Understanding The Rule of 72

The Rule of 72 is a simple mathematical formula used to estimate the amount of time it will take for an investment to double in value, based on a given interest rate or rate of return. It works by dividing the number 72 by the interest rate or rate of return to determine the approximate number of years it will take for the investment to double. The origins of the Rule of 72 are not entirely clear, but it is believed to have been popularized by the Italian mathematician and economist Luca Pacioli in the early 16th century. However, the formula may have been used in various forms for many centuries before that. The Rule of 72 has been used by investors and financial professionals for centuries as a quick and easy way to estimate investment growth. It is a simple rule of thumb that can be applied to a wide range of investments and can help individuals make informed decisions about their financial goals.