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BEST DAY TO TRADE FOREX

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We already know that the  London session   is the   busiest   compared to other sessions, but there are also a few days a week where all markets tend to show more movement. ===== Here are the best days to trade forex : =====  As you can see from the chart above, it is the best time to trade in the middle of the week following many big movements occurs.  On Fridays, the market usually moves fast until 12:00 pm and then moves slowly as it is close to the closing time of the session at 3:00 am. This means, we only work half a day on Fridays.  Busy times which all traders all over the world enter the market are usually the best time to trade as high volatility will provide a great opportunity to enter trading positions To get connected with forex market, connect with us on telegram channel:       VIP FOREX KING

THE BEST TIME TO TRADE FOREX

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Usually, the market will be very active when two or more markets  overlap at one time   and the   overlap time  which is very popular for traders to trade The  best time to trade   is during overlaps in trading periods between open markets. Overlaps equal higher price ranges, resulting in increased opportunities. Here’s a closer look at the three  overlappings  that happen every day: ===== US/LONDON ===== US/London  the  largest overlap  in the US/London market. For your information, 70% of all trades occur when these markets overlap because the  US dollar  and the  euro  are the two most common trading currencies. As the volatility ...

FOREX TRADING SESSION

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The forex market is open 24 hours a day, five days a week from Monday to Friday. This allows traders from all over the world-changing hands when buying or selling currency pairs. First of all, you need to know that the forex trading session time is divided into several main sessions namely  Asian Session, European Session, London Session, New York Session. As we know, there is a huge time gap between Australia and America (about 16 hours). Therefore, it is not surprising that the trading market never sleeps because if one country’s market is closed, another market is being opened, and so on. ===== There are 4 forex trading sessions: ===== Asian session European session London session New York Session ASIAN, LONDON, NEW YORK SESSION There are several currency market sessions traded around the world that affect currency movements within 24 hours a day. The table above shows the market time chain opening from 6.00 am (Malaysian time) in the Asian market followed by the European market...

TYPES OF ORDERS

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Orders in Forex trading: There are many types of orders available in online forex trading. One of the most popular is the  Pending Order . What is meant by  pending order? If you want to trade at your target level, but the current price is not yet at the price you want, so you need to place a  pending order  in the place you want. If the current price touches the  pending order , the  pending order  will turn into your trading position. As long as it is not touched, the  pending order  will be there until it is deleted. Limit order in Forex: This limit order is like we want the current price to return to the previous price. Like a bus left behind the passengers, and then a bus makes a U-turn to pick up passengers. There are two types of order limits, namely: i) Buy limit You will place a pending order below the current price. An example of the current price of EURUSD is 1.1300. You want to buy it at 1.12800. So, you can place a pending  ...

WHAT IS LOT

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Lot size in Forex Trading: In the past, spot forex was only traded in a certain amount called   lot , or basically the   number of currency units  you would buy or sell. The standard size is 100,000 units of currency and below are examples of lots and units in standard type accounts. This type of account is used at different brokers. So, how to calculate the actual value of each 1 pip for different currency pairs?  Referring to the table above, when you trade on a standard account and buy 1 lot, this means you have bought 100,000 units of base currency. For example: After knowing the basics of pip and lot, how to calculate the amount of profit or loss? See the table below. For example,  in each position you decide to close the gain is 20 pips. Key Links: WHAT IS FOREX & WHY IT IS SUITABLE FOR EVERYONE? THE HISTORY OF FOREX WHAT IS TRADED IN FOREX? TYPES OF CURRENCY PAIRS HOW TO READ CURRENCY PAIRS BID PRICE, ASK PRICE & SPREAD To keep updated with m...

WHAT IS PIP

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PIPS  or   Percentage   in Points refers to the  unit of measurement   for the difference in movement from one price level to another. Generally, forex currency pairs initially have 4 decimal points and 2 decimal points for the Yen pair. For example, you BUY EUR / USD at the price of 1.1200. If the current price is at 1.1201, this means the EURUSD price has risen by 10 pips. This also means that you are making a profit of 1 pip. And for the Yen pair, you buy USDJPY at 100.00. Suppose the price rises to 100.01, this means that the USDJPY price has increased by 1 pip. Along with the development of financial technology, many brokers are using up to  5 decimal points and 3 decimal points for the Yen currency pair. Basically, these brokers use ‘fractional pips’ or so-called ‘pipettes’. For example, you BUY EUR / USD at 1.12000. If the current price is at 1.12013, this means that the EURUSD price has increased by 13 pipettes/point or 1.3 pips. And if the Yen pair...

BID PRICE, ASK PRICE & SPREAD

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Have you ever been to a  Money Changer counter  to  exchange foreign currency ? There are two columns, namely the sell and buy columns. Similarly in online forex trading, these values are written in two prices namely bid & ask. The bid price is usually lower than the ask price. To understand it further, see the image below. There are 2 different tabs for  selling  and  buying . The first tab is  ‘sell by market’  and the second tab is  ‘buy by market’ . At the top of each tab, it has its own price. The price above the  ‘sell by market’  tab is called Bid Price while the price above the  ‘buy by market’  is called Ask Price. Bid Price  is the price at which a broker is willing to buy from a trader. If you sell EURUSD pair, you will sell at 1.3629. Ask Price  is the price at which the broker is willing to sell to the trader. If you buy the EURUSD pair, you will buy at the price of 1.3630. In the example above, ...