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https://www.wikifx.com/en/newsdetail/202208054404144726.html

Abstract：Want to profit in trading? Of course, it is every trader’s main goal to reach profit and find success in trading Forex.

　　Your next question would probably be ,“how long would it take for me to become profitable？”. Now, this begs for a more concrete answer to enlighten a lot of traders and would-be traders out there.
　　But right at the very start of your career, you should realize that overly fixating on the profitable side of trading can work against you. Without appreciation of the journey itself, youll miss the opportunity to learn the lessons to achieve trading success. These lead us to the fact that the “how long” question is not right after all.
　　So here are the most important questions (and answers) you need to know to be truly successful in your trading career.
What does it needs to reach profit in trading？
　　Before taking your first plunge, the first most crucial thing you need to ask is “What do I need to become profitable？”
　　If you know the “HOW”, then every important piece for success will fall into its right place. If you‘re nothing but a hell-bent trader obsessed with profits, then you won’t be here for long. Those successful traders that you emulate have achieved their status by answering that all-important question “HOW”.
　　If you feel that answering the question “how to trade properly” can be burdensome, then do not expect any concrete success with any of your venture.

https://www.wikifx.com/en/newsdetail/202208058184441725.html

Abstract：Leverage has an important role in forex trading and by understanding how it works, it’s gonna help you a lot in profitting.

　　
　　In forex it is a comparison between the amount of trader capital with the number of funds that you borrow from the broker. For example, you want to open an account with a leverage of 1: 200.
　　It means that by providing capital of 1 Dollar, you can move funds of 200 Dollars, 199 Dollars of which are “loan funds”. According to The Balance, most professional traders trade using leverage. It means that if they want to buy $10,000 worth of stock, they only need a small percentage of the amount that they want to trade.
　　Additionally, you have to understand what forex leverage is before entering the world of trading, especially for novice traders. By understanding leverage, you will surely know how to manage your capital and daily trading plan.
What is the leverage on forex trading？
　　In a literal sense, leverage is a feature that enables investment strategies using borrowed money. The aim is to get greater profit potential. If you have heard that a company has large leverage, it means that the company has more debt than equity.
What is the relationship between leverage and forex trading？
　　“Trading using leverage” means that you borrow money temporarily at a brokerage company in a certain nominal amount. They will provide collateral in smaller amounts, but the amount is proportional to the loan obtained. Well, this guarantee is called “Margin”. The greater the leverage, the more “security deposit” needed is even more economical.
　　In addition, forex leverage only affects the amount of power we can use and does not affect the amount of profit or loss. Besides, it only affects the amount of forex margin, which will determine how much minimum capital we need to open and hold a position.

https://www.wikifx.com/en/newsdetail/202208057604824491.html

Abstract：Let’s explore important technical indicator and market insights used by traders. One of the most commonly used indicator by trader is the Simple Moving Average.

　　The simple moving average (also known as SMA) operates at a slower rate than the current market price (called a delay indicator). It also uses a lot of historical price data. In fact, its more so than most other strategies.
　　A good sign that the recent price is higher than the previous price is that the long-term moving average is lower than the short-term moving average. This can be seen as a sign of purchase due to the upward trend in the market.
　　It refers to the selling signal due to the downward trend, as well as in the opposite scenario where the long-term moving average is higher than the short-term moving average. The moving average is generally used as evidence of the overall trend, not purely a foreign exchange transaction signal.
　　In other words, two strategies can be mixed to discard breakout signals that do not match the general trend proposed by the moving average. Of course, this is a great way to make breakout signals much more productive. A warning about a selling signal indicates that the short-term moving average is lower than the long-term moving average, so you can place a selling order.
　　However, given a buying signal, it generally means that the short-term moving average is higher than the long-term moving average

https://www.wikifx.com/en/newsdetail/202208042754308720.html


Abstract：FVP Trade has been taking its trading clients on a roller coaster ride since it froze their accounts without any prior warning. Although FVP Trade claimed that the main reason it made this decision was to protect its clients from money laundering syndicates, nobody truly buys that explanation. Not only do we at WikiFX constantly receive complaints regarding FVP Trade’s irresponsible act, but it seems that several companies that were collaborating with FVP Trade had also decided to drop their business relationship for good.

　　FVP Trade has been taking its trading clients on a roller coaster ride since it froze their accounts without any prior warning.
　　Although FVP Trade claimed that the main reason it made this decision was to protect its clients from money laundering syndicates, nobody truly buys that explanation.
　　Not only do we at WikiFX constantly receive complaints regarding FVP Trades irresponsible act, but it seems that several companies that were collaborating with FVP Trade had also decided to drop their business relationship for good.
　　Previously, iFX EXPO Asia 2022 featured their FVP Trade on their official website as one of their main sponsors and exhibitors – which we had warned our users 2 weeks ago: https://www.wikifx.com/en/newsdetail/202207218234937790.html.

　　At that point, iFX EXPO Asia still had FVP Trades logo on their homepage. However, its logo is nowhere to be seen now on https://bangkok2022.ifxexpo.com/meet/#sponsors, which means that FVP Trade has now been disqualified from participating in iFX EXPO Asia.
　　On the other hand, the French F1 team Alpine could also be suggested to have dropped their partnership with FVP Trade.


　　Just 1 month ago, the Alpine team was proudly announcing their partnership with FVP Trade. (Article source: https://sportskhabri.com/alpine-join-forces-with-fvp-trade/).

　　Nevertheless, upon searching the official website of the Alpine team (https://events.bwtalpinef1team.com/en/), there was no logo of FVP Trade spotted.
　　In summary, it could be deduced that the incident of FVP Trade raised the awareness of its partners who then decided to terminate their relationship with FVP Trade, natch. No legitimate business would want any risk of being involved with an allegedly fraudulent broker.

https://www.wikifx.com/en/newsdetail/202208033874724444.html

Abstract：WikiFX will sponsor a live event on August 3, 2022, at 15:00 (UTC +, discussing "10 Essential Skills for New Traders." The online event will be hosted by Ron Merca, a Master IB, Professional Network Marketer, and influencer. Ron Merca is also the founder of Fortune Prime Global Philippines or FPG. Fortune Prime Global is a UK-based forex broker that is regulated by the Vanuatu Financial Services Commission (VFSC). WikiFX live room is where you can watch the online event (https://liveroom.wikifx.com/en/live/202208032361744698.html).

　　WikiFX will sponsor a live event on August 3, 2022, at 15:00 (UTC +, discussing “10 Essential Skills for New Traders.” The online event will be hosted by Ron Merca, a Master IB, Professional Network Marketer, and influencer. Ron Merca is also the founder of Fortune Prime Global Philippines or FPG. Fortune Prime Global is a UK-based forex broker that is regulated by the Vanuatu Financial Services Commission (VFSC). WikiFX live room is where you can watch the online event (https://liveroom.wikifx.com/en/live/202208032361744698.html).
　　A discussion centered on the following topics:
* 　　Why do most traders fail？
* 　　How to manage your emotions
* 　　Finding the right mentor

　　Topic overview:
　　Why do most traders fail？
　　Many forex traders fail because they are undercapitalized for the size of the trades they make. Forex traders are compelled to take on such massive and volatile financial risk due to greed or the prospect of controlling vast sums of money with a small amount of capital. For example, at a 100:1 leverage ratio (a fairly common leverage ratio), a 1% change in price results in a 100% loss. And any loss, no matter how minor, such as being stopped out of a trade early, exacerbates the problem by reducing the overall account balance and increasing the leverage ratio.
　　Leverage not only magnifies losses but also raises transaction costs as a percentage of the account value. If a trader with a $500 mini account uses 100:1 leverage to buy five mini lots ($10,000) of a currency pair with a five-pip spread, the trader will also incur $25 in transaction costs: (1/pip x 5 pip spread) x 5 lots. They must catch up before the trade can begin because the $25 in transaction costs represent 5% of the account value. The greater the leverage, the greater the transaction costs as a percentage of the account value, and these costs rise as account value falls.
　　While the forex market is expected to be less volatile in the long run than the equity market, it is clear that the inability to withstand periodic losses and the negative impact of those losses through high leverage levels is a disaster waiting to happen. These issues are exacerbated by the fact that the forex market contains a significant level of macroeconomic and political risks, which can cause short-term pricing inefficiencies and devastate the value of specific currency pairs.
　　How to manage your emotions
　　Some suggestions for dealing with your emotions
* 　　Don't act out of rage. Hold out until reason takes over when you're angry. There is no worse trade than a “revenge” trade, in which a trader immediately returns to recoup a loss. To get back on track, consult your trading journal.
* 　　Don't get married to your positions. It's easy for a trader to become stubborn and hold on to trade simply because he 'hopes' it will turn around. Close a losing trade as soon as possible, accept your loss, and move on. The next step will be suggested by your trading journal.
* 　　After each trade, take a break. Trading moves quickly, so don't get caught up in the excitement. Take a break to think about something else, then return and deliberate. Look through your trading journal for the next idea.
* 　　Set a fixed point where you will stop. Stop for a good long break after three, four, five, or whatever number you choose. Most mistakes occur when one trade follows another. Examine your trading journal and your strategy.
* 　　Keep no record of profit and loss. Doing the math on your earnings will only stimulate your emotions. Concentrate on developing your trading strategy by reviewing your trading journal. Then, at the end of the trading day, you can see how well you did.
* 　　Maintain your focus on the plan. Don't let the outcome of a few trades alter your overall strategy or approach. Stick to what you've learned and planned - use your trading journal to plan your next steps.
* 　　Prudence should not be confused with fear. You want to trade wisely, employing logic and reason. This may cause you to postpone a trade. However, make certain that your decision is based on sound judgment rather than fear. Fear can derail your trading by preventing you from entering a trade. Use your trading journal to determine whether the trade makes sense, follows previous wins, or simply does not make sense.
* 　　Keep an eye out for greed. Greed can cause you to stay in a trade when you intended to exit, hoping for a little more profit. Such trades run the risk of backfiring just when you thought you were winning. Use your trading journal to determine the best exit points based on past performance.
* 　　Take care with your stops. Stops and limits should be approached with caution to avoid making rash decisions. It hurts to have a trade stopped out, but you will save money in the long run. Your trading journal can provide you with useful comparisons on stop-loss levels.
* 　　Never give up. Every trader reaches a point in their career when it no longer seems worthwhile. Allow yourself to be intimidated. Trading is difficult, but it is possible to succeed.
　　Finding the right mentor
　　Since the pandemic hit the world, we all know that forex trading has become the most popular alternative way to make money. Many learning centers are now offering services to people who want to learn how to trade forex. There are numerous approaches to finding the right mentor. One of the best mentors to look for has extensive experience in online trading, particularly forex. The experience of your mentor is extremely important when beginning your journey in forex trading.
　　

* 　　WikiFX, on the other hand, has been providing educational articles to help traders in their day-to-day trading. When using the WikiFX App, traders can implement a variety of ideas and strategies. WikiFX also provides daily forex market news to help traders plan their day-to-day trading. There are numerous features that a user can learn by using only one app, the WikiFX app.
* 　　Ron Merca will teach us how to manage all of these characteristics to avoid failure and achieve success in online trading.

https://www.wikifx.com/en/newsdetail/202208015404391630.html

Abstract：If you want to trade on news, you have to understand the market’s mood. There are some things you need to know to trade successfully. We will help you to figure it out.
　　


　　When you Read fundamental articles or news, you may see something like “if the US CPI data is greater than the forecast, the USD will rise”. Is it always as simple as it sounds？ Of course not. There are some things you need to know to trade successfully. We will help you to figure it out.
　　
　　
　　Have you ever heard the phrase “buy the rumor, sell the fact”？ It‘s a common phrase in the trading world as “trend is your friend”. The idea is simple: a trader should pay attention to the market’s sentiment and trade in the direction of it. Therefore, if you want to trade on news, you have to understand the market‘s mood. If the market sees optimistic perspectives for a currency, its price will rise. If the forecast isn’t encouraging, traders will open short positions.
　　
　　
　　
When is the right time to trade on news？
　　Here we should mention one important thing: the market‘s sentiment is built ahead of the news releases. Reading something like “if the data improves, the currency will appreciate”, you may think that it is worth waiting until the news is out and open a position. However, it may be a big mistake. It’s often worth opening a position a day before the release. That‘s why you need to catch the market’s sentiment.
　　But how is it possible？ Well, the thing is that the market is built from billions of traders. They make a decision to buy or sell, to invest or to get out of trading according to their expectations of what will happen further with the price. The goal is to buy low and sell high. In simple terms, if everyone expects a good news release in Europe, they will buy the euro ahead of the release when it‘s still cheap hoping to sell it at the higher price after the positive event. It sounds logical, doesn’t it？
　　So what should you do？ The solution is simple: you need to pay attention to fundamental analysis. If we talk about economic data, you should check the economic calendar and look at forecasts. If you see that the forecast is greater than the previous data, consider buying the currency. Vice versa, in case of the negative forecast, think about selling the currency. Check H1 timeframes and see whether there are any short-term trends in line with the economic forecasts listed in the calendar. If such a trend exists, you can trade ahead of the actual event. This way you will trade on markets sentiment.
The actual release
　　If you trade ahead of the event, it‘s wiser to close positions before the actual release for 2 reasons. Firstly, if the release is just as expected, traders may “sell the fact” or, in other words, close positions they have opened ahead of the news. The massive profit taking can lead the exchange rate down even if the release is positive. This may occur when the release was already priced in (the news is already incorporated in price, so the asset doesn’t react to the decision).
　　You may see a lot of examples with the central banks meetings. If the market anticipates a rate hike, the currency moves up before the central bank will announce its decision. As the decision was already priced in, there is a high possibility that the currency will decline after the release, as those traders who anticipated the rate hike will start selling.
　　Secondly, the economic indicator can always disappoint. As a result, traders who already made bets on a good result will rapidly sell and the price will plummet. If you trade before the event, you wont have to deal with these risks.
　　The same considerations make it risky to enter the market right after the news release as markets can be volatile and move not the way you would expect them to.
　　Remember that you can always read analytics on the fbs.com. Our specialists are doing their best to gather the fullest information about the worlds economies so that you could make a good judgment that would lead to a profitable trade.
Examples
　　Lets consider examples. The non-farm payrolls data (one of the most influential statistic indicators) has a great impact on the USD. On August 3, 2018, the NFP data was released. The forecast was negative, and the actual data appeared to be even worse than the forecast. As a result, the 3-day rise was stopped. The USD lost some point that day and the next day continued rising.

Priced-in news
　　The Bank of England raised the interest rate on August 2 but it didn‘t support the GBP. Moreover, after the release, the GBP/USD pair plunged. First of all, the market already anticipated the rate hike. Secondly, it’s important to tell about another important factor that should be taken into consideration. Waiting for the news releases, you should check the market‘s sentiment in general. Such important news as an escalation of trade wars, the Brexit deal may affect the price more than the release of the economic data. That’s why the British pound didnt rise before the announcement and even fell after the release.

Tips
　　If you want to learn how to boost your profit on the news, you should follow these rules:
* 　　Be up-to-date on the upcoming events and economic releases.
* 　　Improve your understanding of the market‘s sentiment by checking recent economic releases and the market’s reaction.
* 　　Learn the correlation between various news releases (for example, how retail sales may influence GDP, PPI, CPI, ext.; if retail sales go ahead of markets expectation, we may wait for a strong GDP release).
* 　　Making a conclusion, we can say that the most important things every trader should remember trading on news releases are to catch the market sentiment and trade ahead of the release

https://www.wikifx.com/en/newsdetail/202207292614772423.html

Abstract：The foreign currency market is the world’s largest and liquid financial market with the highest trading volume daily – approximately $5.3 trillion.

　　What is Forex trading？
　　Forex trading is about opening a buy / sell position on any currency pair at a certain price, and closing it at another price level. The difference in these two prices will determine a traders profit or loss.
　　Unlike the equities market, forex is a decentralized market. It operates for 24 hours, 5 days a week at 4 different time sessions, which are Sydney, Tokyo, London, and New York.
　　The currency code usually has three letters, and the exchange rate is a pair of two currencies, such as “EUR/USD” which is the Eurodollar to the U.S. dollar. The former is the base currency and the latter is the counter currency. When the pair is traded, the base currency is used as the standard, e.g. how much USD can be exchanged for one Eurodollar.
　　With so many online Forex brokers offering their FX services, the cost of trading is often the primary consideration for retail investors. Investors can determine the cost of trading through spreads.

　　The “pip” in “spread” refers to the unit of currency movement in the foreign exchange market quotes. In order to accurately represent the exchange rate, almost all currency pairs are quoted in five digits. A pip is equal to 0.0001, and a pip is used as a unit for buying and selling. As its name implies, the “spread” is the “difference in points”, that is, the difference between the bid price of the buyer and the ask price of the seller.
　　Spreads fluctuate with the market and are influenced by factors such as currency liquidity, transaction amount, market direction, and investment strategy, with currency liquidity having the greatest impact. Generally speaking, the higher the currency liquidity, the smaller the spread.
　　When trading foreign exchange, most firms offer their clients trading prices with spreads. Compare the spreads offered by forex brokers at ease with WikiFX:



　　In addition to the ease of use of the trading platform, it is crucial to consider reputable and reliable forex brokers that are operating with valid licenses and legitimate business premises. The last thing any trader would want is to end up having their money scammed by a fraudulent broker. Download the free WikiFX app to check the information of your forex broker right now:





　　Foreign exchange trading is a leveraged investment. As leverage is a double-edged sword, retail traders should have a sound risk management system in place to protect themselves. Generally, investors only need to pay a specified amount of money (margin) to start trading, without having to shell out the full amount.

　　A trader who is optimistic that the USD will rise against the Euro dollar buys a contract for different at an exchange rate of 1.02000. He places a 10.00 lot. 10.00. Suppose the exchange rate rises to 1.03000, and he terminates the contract. The difference between the purchase and sale is 0.01000, which means the trader made a profit of $10,000.

https://www.wikifx.com/en/newsdetail/202207294434946211.html

Abstract：Day Trading is a trading activity for the short term. People who do Day Trading are called Day Traders. They have a habit of opening and closing their positions in the forex market in one day.

　　Usually, Day Trading lovers are those who dont like to hold their positions for days on end. Besides, they wanted to make a profit immediately. However, being a day trader is not easy, you have to understand the rules of day trading.
Lets take a look at some of the following Day Trading rules that you must follow:
Not an Investment
　　You must understand that Day Trading is not an investment. Day Trading is a short-term activity that is purely done to profit from the difference in price movements in one day.
　　There are a lot of day trading risks. One of them is the risk of volatility where currency fluctuations occur so quickly. It can bring benefits if you use it wisely. However, it can be disastrous if you execute an open position without good analysis and money management considerations.
Not Gambling
　　Never think that Day Trading is gambling. That mindset will make you trade without a plan, and tend to look for random profits.
　　Traders who have a gambler mindset will see the market as a playing area, not a place of business. This kind of trader will usually lose money. Meanwhile, those who see trading as a business area will be able to survive longer. The reason is, they can consistently generate profits by referring to money management and careful analysis.
Applying 5W and 1H
　　You must have careful planning in trading. The plan will make your trading more focused. If you are confused about where to start, you can apply the 5W and 1H strategies, namely What, Who, When, Where, Why, and How.
Observing the Market
　　In the first 15 minutes when the market session begins, prices will usually experience quite a high volatility. This will make it difficult for you to do analysis, especially for Price Action traders. Thus, you should wait for market sentiment to stabilize.
　　After 15 minutes have passed, you can start looking for opportunities based on your trading plan.
　　
Reviewing Your Trading

　　

　　Trading rules are often overlooked by novice traders, although their benefits are very important. There is always a lesson to be learned at the end of each trading session. Therefore, you should take the time to identify the success or failure you have after closing the trading session.
Using Stop Loss
　　To determine Stop Loss, you must pay attention to the conditions of price movements. Do not place Stop Loss at a level that is disproportionate or not commensurate with the real conditions that occur in the market. according to Investopedia, by using Stop Loss, you do not need to monitor the performance of a stock every day.
　　For example, you can place a Stop Loss randomly at any number of pips you want, between 25 pips or 50 pips. This has the potential to cause your account to close too early, even though the price may still move in the direction you analyzed earlier

https://www.wikifx.com/en/newsdetail/202207281394918287.html

Abstract：Copy trading is a lucrative long-term trading strategy that anybody, regardless of expertise, may employ. You can make a lot of money if you find the correct trader to emulate.

　　Copy trading is a lucrative long-term trading strategy that anybody, regardless of expertise, may employ. You can make a lot of money if you find the correct trader to emulate.
　　Most inexperienced traders struggle to build a profitable trading strategy. In contrast, copy-trading looks to be a viable alternative. It is critical to mimic trade since it is effective. Amateurs all around the globe are making money thanks to copy trading. Copy trading is a lucrative long-term trading strategy that anybody, regardless of expertise, may employ. You can make a lot of money if you find the correct trader to emulate.
　　Copy trading is a trading strategy in which you mimic the actions of a successful trader in real-time. If the trader purchases X amount of shares of Y stock, you will do the same. If they sell a coin at a high price, you will do the same. You will do the same if they buy a cryptocurrency at a low price, during a dip, presuming the trader expects the price to climb in the future.
　　So here are four reasons why novices should employ copy trading:
　　The learning curve: Trading forex, stocks, or cryptocurrencies may be both complex and difficult. For new traders, the learning curve is high. One of the most effective methods to learn about trading is by copy trading. When you Copy Trade, your trading account automatically duplicates the trades of a more experienced trader. You may be able to see a trader in action in real-time, which aids in studying the trading charts and when to buy or sell during market circumstances.
　　Saving time: Trading is a full-time job. Don't believe the TV advertising that suggests you can do it in an hour. Professional traders spend hours each day reading over charts, following the news, initiating and closing trades, testing scenarios, and more. It requires more time than working full-time. You may subcontract this difficult and time-consuming activity to others via CopyTrading. Even if you're an experienced trader, copy trading may help you. This will provide you with a supplementary source of income and enable you to take a break from trading.
　　Portfolio diversification is the act of investing your money across a number of asset classes and securities to lower the portfolio's overall risk. Consider what would happen if you invested all of your money in a single transaction. Everything will be OK as long as the stock performs nicely. Copy Trading allows you to copy several people at the same time. By duplicating numerous people's transactions, you may spread out your risk by using little amounts of money for each trade.
　　Source of passive income: Copy trading is a win-win situation that requires minimal effort. Users of Copy Trading like studying the best traders and trying various methods. CopyTrading enables you to make money while you sleep; if you imitate a few traders, your account may make 100+ trades every week. CopyTrading needs relatively little work once set up. All you need to do is check your account every few days to make sure everything is in order. As a consequence, it is one of the most efficient ways to generate passive income

https://www.wikifx.com/en/newsdetail/202207261854335633.html

Abstract：The foreign exchange market (forex) has a low barrier to entry, which makes it one of the world’s most accessible day trading markets.

　　This easy-entry is not a promise of a quick profit, however. Before you take the plunge, make sure youre familiar with 5 mistakes that you should avoid.
1. Dont Trade if You Keep Losing
　　You have to keep a close eye on two trading statistics, namely, win-rate and risk-reward ration.
　　Win-rates shows how many traders you win by expressing as a percentage. For instance, if you win 60 trades out of 100, your win-rate is 60%. A day trader should work to maintain a win-rate above 50%.
　　Risk-reward shows how much you win relative to how much you lose on an average trade. If your average losing trades are $50 and your winning trades are $75, your reward-risk ratio is $75/$50=1.5. A ratio of 1 indicates you‘re losing as much as you’re winning.
　　Try to keep it simple though and develop your strategies, so that you wont be lost too much.
2. Trading without a Stop Loss
　　You should have a stop-loss order for every forex day trade you make. A stop-loss is an offsetting order that gets you out of a trade if the price moves against you by an amount you specify.
　　When you have a stop-loss order on your trades, you have taken a large portion of the risk out that investment. If you start taking losses on a trade, the stop-loss prevents you from losing more than you can handle.
3. Adding to a Losing Day Trade
　　You have to know that adding to losing day trade is a dangerous practice. The price can move against you for much longer than you expect, as your loss gets exponentially larger.
　　Instead, take a trade with the proper position size and set a stop-loss on the trade. If the price hits the stop-loss the trade will be closed at a smaller loss than it would have without it. There is no reason to risk more than that.
4. Risking More Than You Can Afford to Lose
　　The key part of your risk management strategy is to establish how much of your capital you are willing to risk on each trade. Day traders ideally should risk less than 1% of their capital on any single trade. That means that a stop-loss order closes out a trade if it results in no more than a 1% loss of trading capital.
　　Even if you lose multiple trades in a row only a small amount of your capital will be lost. At the same time, if you make more than 1% on each winning trade your losses are recouped.
　　On the other hand, you also have to be careful in day trading as it becomes an addiction if you let it. Set a strategy, so that you can be more discipline in a day trading.
5. Going All In
　　You might have had several losing trades in a row, which will make you want to earn back some of the losses. A winning streak can make you feel as if you cant lose. There will always be one trade promising such good returns, you are willing to risk almost everything on it.
　　Even if you have a risk management strategy in place, there will be times you will be tempted to ignore it and take a much larger trade than you normally do.
　　Resist temptation, stick to your risk management strategy and avoid going all in or adding to your position

https://www.wikifx.com/en/newsdetail/202207252234388633.html

Abstract：Companies reporting earnings in coming weeks are likely to mention one common factor gouging their results: the strong dollar.

　　The U.S. currency stands near a 20-year high against a basket of its peers and is up 15.1% in the past year, lifted by a hawkish Federal Reserve and investors seeking shelter from turbulent markets.
　　A strong dollar can be a headwind for U.S. companies as it makes exporters products less competitive abroad and hurts multinationals that need to convert their foreign profits back into the U.S. currency.
　　Each percentage point of year-on-year increase in the U.S. Dollar Index, which measures the dollar against six other currencies, translates to a 0.5 percentage point hit to S&P 500 earnings growth, analysts at MorganStanley estimated.
　　“You seemingly can‘t get a break right now. We’re starting to get some relief from oil prices, but youve still got the dollar banging on you,” said Bill Stone, chief investment officer at the Glenview Trust Company.
　　International Business Machines Corp, Netflix Inc and Johnson & Johnson were among the companies that in the past week cited the dollar‘s strength as a headwind, with Johnson & Johnson joining Microsoft Corp by cutting its guidance due to the impact of the greenback’s rise.
　　Next weeks results from Apple Inc, Microsoft Corp, Coca-Cola Co and a slew of other companies will give investors a better picture of how businesses are holding up in the face of the strong dollar and soaring inflation.
　　Investors are also awaiting what the Fed will have to say on those topics at its monetary policy meeting next week, at which it is widely expected to deliver another jumbo-sized 75 basis-point rate increase.
Dollar doldrums
　　Overall, some 40% of S&P 500 revenues come from overseas, data from FactSet showed. Information technology leads all sectors with 58% of revenues derived internationally, followed by materials with 56%, while utilities companies source just 2% of their revenues out of the United States, according to FactSet.
　　The dollars strength threatens to combine with high inflation, supply chain issues and other factors to weigh on earnings, analysts said.
　　“The rate of change on the dollar exhibits a strong negative correlation over time vs. S&P 500 earnings revisions. USD strength comes at an inopportune time for corporates already facing margin pressure and increasingly weaker demand,” Morgan Stanleys analysts wrote.
　　So far, 5.1% of the S&P 500 companies that have reported their second quarter results have posted earnings above expectations, nearly half the average of 9.5% over the prior four quarters, according to Refintiv data.
　　Few can say when the dollar will turn, as the inflation-fighting Fed is expected to raise interest rates more aggressively than other central banks, boosting the U.S. currencys appeal to yield-seeking investors.
　　Still, some are betting that signs of a peak in the dollars rally could balance out some of the damage caused by the burgeoning greenback.
　　Dollar peaks over the past 40 years have been followed by rallies in the S&P 500, with the benchmark index climbing by an average of 10% in the next 12 months on increased risk appetite and expectations of improving earnings, wrote John Lynch, chief investment officer for Comerica Wealth Management.
　　Jim Paulsen, chief investment strategist at The Leuthold Group, said the dollar is trading at a nearly 120% “safe-haven premium” based on its historical relationship to the consumer sentiment index.
　　The dollar has declined by an average 4.5% over 12 months each time its premium rose over 20% since 1988, he added.
　　Others are looking at the bright side of dollar strength, which some see reflects the belief that the United States can weather a looming global slowdown better than other countries.
　　Sameer Samana, senior global market strategist at Wells Fargo Investment Institute, has been increasing his overweight in U.S. equities, betting that any the effects of a strong dollar will be outweighed by better economic growth over the long run

https://www.wikifx.com/en/newsdetail/202207224874801715.html

Abstract：The forex market is easy to enter but hard to master, or exit with a profit. This paradox explains why so many participants eventually get burned, wash out, and look for safer hobbies.

　　In many cases, these folks just made dumb mistakes that could easily have been avoided, given the proper guidance and discipline.
KEY POINTS
* 　　Common mistakes force the majority of forex traders to ‘wash out’ and leave the markets.
* 　　Poor trend recognition is a major reason why traders fail.
* 　　Leverage is deadly to new traders, encouraging unskilled participants to risk too much capital.
* 　　The chosen market interface (platform) has to meet the traders specific needs.
* 　　Stop losses keep traders ‘in the game’ long enough to develop important skills.
　　Here are the most common mistakes made by new forex traders.
1. Choosing the Wrong Platform
　　A robust platform is essential if you want to trade the forex market. The ‘right’ platform will provide solid educational resources, access to news, a dependable real-time feed, an easy-to-read trading interface, and a variety of trading signals. The software should also include access to major currency and cross-currency pairs, as well as minor and exotic pairs you find of interest.
2. Risking Too Much
　　Newcomers let the fear of missing out (FOMO) take control, encouraging excessive risk. This is a classic mind-cramp that starts when new traders see missed opportunities and wonder how much they would have gained while forgetting much they could have lost. Say you lose 50% of your capital on a single trade. You now need to double your money on the next trade, just to break even. That isn‘t sustainable, especially if you’re just getting started in the forex market.
　　Only trade what you can afford to lose. A good rule of thumb: risk no more than 2% of capital on a single position, or a combination of correlated positions (pairs that move together). The percentage might seem small but its an effective methodology to stay in the game long enough to develop profitable skills.
　　Another advantage: you‘ll stay calm and not lose your cool the next time you’re stuck in a losing trade. It will also discourage closing out good trades too early out of panic because youre now willing to lose up to the percentage limit.
3. Ignoring Longer Time Frames
　　The longer the trend higher or lower, the stronger and more durable it will be. Many traders walk into the forex market with a day trading mentality, getting sucked repeatedly into 1-minute to 15-minute chart signals. However, trends on hourly, daily, and weekly time frames exert much greater control, causing the majority of contrary short-term signals to fail. For example, a dip on a 15-minute chart means nothing without a review of higher time frames.
4. Trading with Poor Risk-to-Reward Ratio
　　The act of trading releases adrenaline and focuses attention, generating addictive sensations that aren‘t impacted by profits or losses. This bad chemistry induces the new trader to take positions with poor profit potential and excessive risk, just for the thrill of ’being in the market. Rigid discipline and unbiased reward-to-risk analysis is needed before taking a trade to overcome this common flaw. In most cases, stick to opportunities that generate profits of at least three times expected losses if trades turn against you.

5. Not Using a Stop Loss
　　Placing a stop loss at the right price marks the difference between prosperity, survival, and losing everything. The forex market becomes enormously volatile at times, carving near-violent price swings with little or no warning. Add in excessive leverage and the new trader faces a potentially catastrophic loss in just a few minutes. Even walking downstairs and making a sandwich can trigger career-ending losses so its vital to place a stop after entering a new position.

6. Trading Difficult and Unclear Patterns
　　Take only the most promising profit opportunities and walk away from everything else. Do your homework no matter how long it takes, looking for nearly-perfect technical patterns or fundamental set-ups. Beware of form-fitting when doing your research. An untrained eye can easily block out aspects of a chart that dont fit the pre-established bullish or bearish bias. When in doubt, rely on cross-verification that looks for confirmation through three, four or even five different types of indicators or analytical methods before taking the trade.

7. Losing Control of Your Emotions
　　A profitable trading career requires the same level of mental discipline as building a successful marriage or raising children. If you lose control of your emotions in other aspects of your life, expect the same thing to happen when a trade goes against you. Tobacco, alcohol, THC, and gluttony all contribute to a trader‘s emotional state so it’s a good idea to start the journey by developing good health habits, getting a good nights sleep, and doing a little meditation.

Summary
　　New traders come into the forex game hoping to ‘score big’ and take home a quick fortune. Then reality bites, generating unexpected losses that lower confidence and generate waves of bad decision-making. Survivors eventually learn that profitable trading is a lifetime pursuit, in which the practitioner controls his or her emotions and lets numbers and signals decide buy and sell decisions, rather than greed or fear

https://www.wikifx.com/en/newsdetail/202207227844863732.html

Abstract：Countries with substantial natural resources that account for revenue and tax receipts have an implicit backing for their legal tender.

　　The currencies of countries around the world are fiat instruments, meaning that they have no backing by anything other than the full faith and credit of the nations that issue the legal tender.In the past, many currencies used gold and silver to provide support for the foreign exchange instruments, but the metals prevented countries from making significant changes in the money supply to address sudden changes in economic conditions.
　　Meanwhile, some countries with substantial natural resources that account for revenue and tax receipts have an implicit backing for their legal tender. The ability to extract commodities from the crust of the earth within a nations borders or grow crops that feed the world allows for exports and revenue flows. While those countries have fiat currencies in the international financial system, the implied backstop of commodity production makes them commodity currencies.
Commodities provide support for some foreign exchange instruments
　　The fundamental equation in the world of commodities often dictates the path of least resistance for prices. While demand is ubiquitous as all people around the globe are consumers of raw materials, production tends to be a local affair.
　　Commodity output depends on geology when it comes to energy, metals, and minerals. Soil, access to water, and climate make some areas of the world best-suited for growing agricultural products. Chile is the worlds leading producer of copper. The vast majority of cocoa beans, the primary ingredient in chocolate, come from the Ivory Coast and Ghana, two countries in West Africa.
　　In Chile and the African nations, the production of the raw materials accounts for a significant amount of revenues and employs many people, making them a critical factor when it comes to economic growth. Meanwhile, the Australian and Canadian currencies are highly sensitive to commodity prices as both nations are significant producers and exporters of the raw materials to consumers around the globe.
Australia and Canada have commodity currencies
　　Australia and Canada produce a wide range of agricultural and energy products, as well as metals and minerals. Australia‘s geographical proximity to China, the world’s most populous nation with the second-leading economy, makes it a supermarket for the Asian country. Canada borders on the US, the wealthiest consuming nation on the earth. Therefore, Australia and Canada are both commodity supermarkets for a substantial addressable market of consumers.
　　In 2011, commodity prices reached highs, and the price action in the Australian and Canadian currencies versus the US dollar shows their sensitivity to raw material prices.

　　The quarterly chart of the Australian versus the US dollar currency pair highlights that highs in commodity prices in 2011 took the foreign exchange relationship to its all-time high of $1.1005. The price spike to the downside during the first quarter of 2020 that took the A$ to $0.5510 came on the back of a deflationary spiral caused by the global Coronavirus pandemic that sent many raw material prices to multiyear lows.
　　Canada is a significant oil-producing nation. In 2008, the price of nearby oil futures rose to an all-time peak of over $147 per barrel.

　　The quarterly chart of the Canadian versus the US dollar currency pair shows that the record high came in late 2007 at $1.1043 as the price of oil was on its way to the record peak. The highs in raw material prices in 2011 took the C$ to a lower high of $1.0618. The deflationary spiral in March 2020 pushed the C$ to a low of $0.6820 against the US dollar.
　　Both the Australian and Canadian dollars are commodity currencies that move higher and lower with raw material prices over time.
Brazils real also tracks the prices of some commodities
　　Brazil is an emerging market, but the most populous nation in South America with the leading GDP in the region is a significant producer of commodities. The price relationship between the Brazilian real and the US dollar is another example of how the multiyear highs in commodity prices in 2011 sent the value of a commodity-sensitive currency to a high.

　　The quarterly chart of the Brazilian real versus the US dollar currency pair shows that the real reached a record high of $0.65095 against the US dollar in 2011 when commodity prices reached a peak.
　　While the Australian and Canadian dollar and Brazilian real are fiat currencies, they each reflect the price action in the raw material markets, making them commodity currencies. The foreign exchange instruments may not have express backing of the nations raw material production; there is an implied backing as higher commodity prices lift the local economies and government tax revenues. Commodity currencies can serve as proxies for the asset class as they move higher and lower with raw material prices

https://www.wikifx.com/en/newsdetail/202207229104504522.html

Abstract：I am sure if you have been a trader for at least one year you have heard about copy trading either from traders or pop up adds from social media. It sounds enticing especially if you aren’t yet a profitable trader. But the question is should you really involve yourself copy trading. I mean what could go wrong?

　　I am sure if you have been a trader for at least one year you have heard about copy trading either from traders or pop up adds from social media. It sounds enticing especially if you arent yet a profitable trader. But the question is should you really involve yourself copy trading. I mean what could go wrong？
　　There are two types of copy trading. Firstly there is taking signals from a particular trader. You usually see famous trading gurus giving signals for a price on their social media. They claim that for meeting certain conditions they can give you access to winning trades for a monthly subscription. One other conditions may be to sign under a certain broker for you to qualify for their signals. The second method of copy trading promoted by brokers is the automated copy trading. This is when you go through a broker and have an automated robot copying the trades of a broker certified trader so you do not even have to make the trades yourself, they are automatically made by the trader provided to by the broker. They both may seem legit, so what the catch？
　　First you have to understand the business models for both. Trading signals from gurus are not always successful. You see everyone has their own trading style and appetite for risk so you may not have the same understanding or trading balance to suit the trading style of such a trader. Another red flag is the request to sign up for a particular broker. These gurus may have a partnership with a broker where by they are given a cut from broker earning for each trader they sign up. They are depending on you to make a loss and stay making losses in the future to make money from you. It is a twisted game really. It is not to say that all gurus offering signals are bad people with bad intentions, it is to say that you must be careful and verify their trading claims if you want to make invest in signals.
　　Make sure that if a guru start suggesting broker that you first check if that broker is verified and regulated. The easiest way to do that is to look for the broker through WikiFx. This app shows you all the regulated brokers worldwide so that you know if the broker follows strict rules of conduct and wont turn around to commit shady actions under your account. They also show you which brokers have known and proven shady dealings so that you can avoid them. If a trading guru suggest such a broker you then know to stay far away from them
　　Copy trading offered by brokers themselves may also not be a good idea. You see brokers make money from losing traders. Why would they willingly advertise successful copy trading when they would be losing money？ It seems sketchy doesnt it？ I always say brokers are not your friends. It is mostly unregulated brokers who offer sketchy deals like this. I recommend you stay far away from such deals as surely there is something sketchy going on if you ask me. If you unsure whether to trust a broker or not it is best you research the broker using WikiFx. You will be able to see if the broker is regulated or not and if they have a history of bad reviews. This will give you a better picture of how this broker operates and if your money is safe in their hands. If they are not regulated and feature too many customer complaints, it is safe to say that you should stay far away from such a broker and save yourself a painful headache.

https://www.wikifx.com/en/newsdetail/202207203154692098.html

Abstract：Omega Pro has been sailing toward global financial markets since its creation in 2019 to research, educate, promote, and lead the community to financial independence. Omega Pro has effectively birthed new prospects that are constantly ahead of the curve and often helpful and committed to your desire.

　　OmegaPro has been sailing toward global financial markets since its creation in 2019 to research, educate, promote, and lead the community to financial independence. OmegaPro has effectively birthed new prospects that are constantly ahead of the curve and often helpful and committed to your desire.
　　She invites you to the revolution of tomorrow as she tries to orchestrate a debt-free future with an ever-increasing community of over 2,000,000 active members.
　　“The Rise Of Digital Billionaire 2.0” will be held on Sunday, July 24, 2022, at the EUI Event Centre, Sani Abacha Road GRA, Phase III, Port Harcourt. The time is 2 p.m. WAT. Dr. Chinwe Ikpe, Maryann Ilorah, Dotun Fatoyinbo, Grace Udoye, Paulo Tuynman, Samuel Ajibare, Tomiwa Orunnipin, Bonaventure Igboanugo, Gift Ajibare, Daniel Onoja, and Prince Hezekiah host the show

https://www.wikifx.com/en/newsdetail/202207192744550947.html

Abstract： There was a time when Nigeria demonstrated resilience in the face of inflation, but that is no longer the case, owing to the age of terrible money politics that has characterized the political arena as the country approaches the general elections in 2023.

　　There was a time when Nigeria demonstrated resilience in the face of inflation, but that is no longer the case, owing to the age of terrible money politics that has characterized the political arena as the country approaches the general elections in 2023.
　　Previously, when other nations across the world battled rising costs, Africa's greatest economy had periods of decreasing inflation.
　　This anomaly was a good development for the Central Bank of Nigeria (CBN), since it allowed interest rates to remain steady in order to support economic growth.
　　However, in May, Nigeria's annual inflation rate increased for the fourth consecutive month, reaching 17.71 percent.
　　It was the highest rate of inflation since last June, driven by rising food costs, skyrocketing petroleum prices, and continued cash shortages.
　　As a result, according to a report headlined, 'Inflation time-bomb threatens Nigeria's future,' by Lukman Otunuga, Senior Research Analyst at FXTM, Nigeria's economic outlook at this moment remains endangered by disruptive power outages, foreign exchange shortages, capital outflows, and uncontrollable inflation.
　　Furthermore, “surging global commodity prices and pre-election spending have the potential to stoke the fire,” according to Otunuga, “particularly after the IMF forecast prices to soar between 18% and 220% in 2022.”
　　“The Ukraine conflict has pushed global oil prices to levels not seen since 2014.”
　　This has sent shockwaves around the world, prompting central banks to raise interest rates aggressively.
　　“While other oil-producing countries are benefiting from rising commodity prices, Nigeria has been unable to capitalize due to sub-optimal oil output, excessive reliance on gasoline imports, and fuel subsidies.”
　　“This suggests that the present commodities boom is resulting in increased costs and inflationary concerns for Nigeria rather than higher export revenues.”
　　Nigeria's GDP declined to 3.1 percent in the first quarter of 2022, the third straight quarter.
　　The CBN forecasts 3.2 percent economic growth this year, while the IMF forecasts 3.4 percent growth.
　　“However, Nigeria's economic future remains jeopardized by disrupting power outages, foreign exchange shortages, capital outflows, and uncontrollable inflation,” Otunuga noted.
　　“Given how the CBN has launched a tightening cycle, additional rises are predicted down the line,” Otunuga said.
　　The central bank startled investors by raising interest rates by 150 basis points in May. With the CBN increasingly focused on battling inflation and interest rates rising fast throughout the world, additional rises to prevent capital outflows may be on the table.
　　According to Bloomberg, the CBN will boost interest rates by 50 basis points twice more in 2022, bringing benchmark rates to 14 percent.
　　“The rate rises, in theory, might contain inflation risks at a time when foreign and internal variables are hurting Nigeria's economy.”
　　Ongoing geopolitical concerns, harsh weather, and supply-chain disruptions might feed the inflation monster, while pre-election uncertainty could exacerbate it.
　　“However, the pressing question is whether Nigeria is prepared to sustain higher interest rates.” “Only time will tell.”
　　Identifying a solution, Dr. Kingsley Obiora, Deputy Governor, Economic Policy, Central Bank of Nigeria, stated that the CBN is addressing the dollar shortage with the RT200 programme and that the RT200 Non-Oil Exports Summit held last week in Lagos was a promise kept by the CBN's governor, Mr. Godwin Emefiele, at the launch of the RT200 programme in February 2022.
　　When comparing Nigeria's inflation rate to that of other emerging countries, Dr. Obiora stated that Nigeria was not performing badly, stressing that the RT200 policy was meant to incentivize non-oil exporters to repatriate and invest.
　　The US Federal Reserve made a significant move last week when it raised the Fed funds rate by 75 basis points, marking the greatest single interest rate rise in over three decades.
　　The move reflects the Fed's willingness to combat increasing inflation, which hit a 40-year high of 8.6 percent in May, beating consensus projections of 8.2 percent and confounding popular expectations that inflation had peaked and would begin to fall.
　　According to Tellimer experts, the Fed's move has far-reaching repercussions for global markets, particularly developing and frontier economies.
　　The Fed's action “basically tightens global financial market conditions by boosting the cost of debt on the international capital market,” they added, resulting in narrower access to credit on the international capital market (ICM).

https://www.wikifx.com/en/newsdetail/202207182524566380.html

Abstract：Most people can't resist the need to trade, so they make up reasons to do so or create bogus trading signals. You'll never make consistent money trading markets until you learn to be disciplined and stop overtrading.

　　So you want to be a successful trader？ You will need to avoid making several basic blunders that traders often make. You will make errors as you begin to trade, but the traders who succeed are the ones that learn from their mistakes and find out how to avoid repeating them again and again. In this session, I'll go through the most frequent errors traders make and provide some easy answers to them. It's now up to you as a trader to learn from and prevent these mistakes as you continue to study and trade the market.Overtrading and being involved in too many trades at once.
　　This mistake is made by 100% of beginners and 90% of the rest of the population. Furthermore, 90 percent of traders lose money in the long run because they trade too much. You're trading too much if you're involved in many deals at the same time. Never make more than one transaction at a time.
　　


　　Most people can't resist the need to trade, so they make up reasons to do so or create bogus trading signals. You'll never make consistent money trading markets until you learn to be disciplined and stop overtrading.
　　Changing your perspective about trading and “making money trading” may be the most straightforward way to stop overtrading. Rather than seeking any excuse to get into the market, you'll look for reasons why trading may not be a good idea instead of jumping right in (like most traders do).
　　Spending an excessive amount of time pondering trading and studying charts Overtrading is nothing more than obsessively pondering one's trading decisions. Some traders spend too much time looking at the charts, especially when there are no obvious price action signs to trade. As a result, they wind up entering a trade that they would not normally do if they were following their trading plan.
　　Is it any wonder that you're over-trading and losing money when you're always thinking about markets and your trading？
　　Scheduled time away from the charts is essential to any trading strategy. It's just “part of the process” if you stay with your trading strategy and take frequent breaks from the market. You are responsible if you depart from the approach and lose money as a consequence. This is why most traders lose money: they can't stick with a strategy for an extended length of time because they lack discipline and self-control (consistently).
　　Attempting to make trading decisions based on short-term charts
　　Day trading is a novice's mistake. People often hear the term “day trading” before understanding more. This puts them on the wrong path right away, leading to over-trading, gambling, and trading addiction.

　　Lower time period charts have less importance. Because longer time periods represent more data, they have greater “weight” than shorter ones. Daily chart bars are more important than 1-minute chart bars. Higher time spans need more patience, but they deliver more consistent signals with less stress. That seems like a good deal to me. Daily charts allow you to make a trade and keep it open for 24 hours or more. How to live a trading lifestyle and trade like a nomad.
　　Trading with Real Money Before Practicing on a Demo Account
　　This deadly mistake is made by new traders all the time. Trading with real money before trying out a demo account is a bad idea. Traders don't understand how the account works, so they make stupid mistakes like risking more than they planned or failing to set a stop loss appropriately, among other things. They are losing money.

　　You don't know whether your trading strategy is effective since you haven't tested it on a sample account (in actual market conditions). It seems odd that someone would risk their genuine, hard-earned money in the market with no demo practice, but many gamblers in Las Vegas do just that, so it's just another version of that.
　　Your task as a competent and profitable trader is to TEST your approach, as well as your trading skills, using a trusted demo trading platform before you begin trading live! A demo account is a great way to gain a feel for the market and your trading strategy without risking real money.
　　Getting Sucked Into News Distractions' “Black Hole”
　　If you aren't careful, you may fall into the “black hole” of news distractions and lose all of your money.
　　Traders “look for reasons” why their trade should work, and as we all know, anything can be found online, including arguments for and against trading. A lot of traders use the internet to “study” economic and trade news in an attempt to make predictions about what will happen next. That's how they make their decisions in the market. Dangerous! It's risky because the “big guys” have already moved on to what they expect to happen before the news breaks; this is a dangerous situation.
　　It's expected that the price would rise and then fall in response to the news, causing the market to whipsaw. This makes trading difficult and causes uneducated traders to lose money. This is why news trading is dangerous.
　　Trading price movement rather than news reduces misunderstanding. As previously said, price action on the chart reflects news and everything that affects a market. You can trade the news without studying or reading it after you learn to comprehend and trade price movement.
　　Ignorance of the Fact That Every Trade Has a Random Expectation
　　One important trading thinking error that most traders make is failing to see that every single transaction has about an equal chance of concluding in a loss or a gain. Having said that, this does not rule out the possibility of developing a plan that has a high probability of success. There is a complication with trading in that you can never be sure whether trades will be profitable or unsuccessful based on a small sample size since the results are entirely dependent on chance. If you forecast that your approach will win 60% of the time, you may anticipate that percentage to emerge throughout a large enough sample set

https://www.wikifx.com/en/newsdetail/202207159104599715.html

Abstract： Forex trading is different from other investment markets in that investors need to spend more energy on both transaction technology and capital security. A recent online forex industry research data shows that more than 80% of forex traders' accounts are losing money, to be exact, only 29% of users are making money, and 99% of users cannot sustain profits for more than a year. Such data is enough to show that foreign exchange traders are not easy, of course, loss and profit is a common thing in the investment market, but good trading strategies can minimize the loss.

　　Accessible Time
　　Your hunt ought, to begin with, the inquiry “How long do I have”. If you can sit behind your work area for a long time watching graphs, youll have the option to look over the entire arrangement of forex exchanging systems, including those that were created for day exchanging and scalping.
　　If this isn't the case, you ought to zero in on longer periods. Such procedures will permit you to set cautions at key passage focuses ahead of time, and youll have the option to exchange as per your arrangement while investigating markets occasionally instead of remaining stuck to your screen the entire day.
　　Its critical to take note that you ought to be all honest with yourself. Markets won't sit tight for you to return home from your everyday work. Assuming you attempt to utilize a procedure that doesn't accommodate your timetable of life, your outcomes might be disheartened.
　　 Attributes of Character
　　Your forex exchanging methodology ought to accommodate your character. This is a vital point as progress in exchanging is extremely subject to the mental strength of the merchant.
　　Assuming your exchanging methodology is awkward for you for reasons unknown, you will become restless, get worn out, and make botches that will cost you cash.
　　If you can settle on quick choices yet tolerance isn't your solidarity, you'd be in an ideal situation scanning among techniques for more limited periods, similar to the ones made for day exchanging or scalping. On the contrary case, you'd investigate systems created for swing exchanging or positional exchanging.
　　A forex exchanging procedure that accommodates your character will make youre exchanging a lot simpler so you shouldn't disregard this significant part while picking which technique to utilize.
　　 Risk Tolerance
　　Some forex exchanging methodologies are fairly unsafe (yet offer higher possible returns), while others are more moderate. Your forex exchanging technique ought to accommodate your gamble resilience level, or youll put yourself in a position for the inconvenience.
　　Your gamble resistance relies upon your mental qualities (a few merchants are more moderate, while others are dangerous and are prepared to encounter material misfortunes in the quest for huge benefits) and monetary circumstances.
　　Assuming that you intend to enhance your current pay by exchanging, youd be in an ideal situation by picking more moderate procedures. If you want to develop your record forcefully and you have different types of revenue that help your way of life, you could attempt procedures that include greater drawdowns.
　　Anyway, if the gamble of your forex exchanging technique surpasses the level of your gamble resistance, you can not execute the methodology accurately and your outcomes would be poor. In this light, adjusting your exchange system to your monetary objectives is vital for your future outcome in exchanging.
　　 Market Direction
　　There are two essential kinds of market conduct - a moving business sector and a going business sector. You should assess the kind of market before picking your forex exchange system.
　　Utilizing systems that will generally act in a moving business sector when the market is in reach might prompt a fiasco. For instance, different procedures in light of breakouts will bomb a large number of times in a genuine running business sector since youll get found out in numerous misleading breakouts.
　　The equivalent is valid for involving systems for the running business sector when the market is moving in areas of strength for a. Your endeavors to purchase at help levels or sell at obstruction levels will bomb a moving business sector since these levels will probably get penetrated.
　　In this light, you ought to figure out how to recognize a moving business sector and a running business sector and have a forex exchanging system for each sort of market conduct.
　　 Late Performance Of The Forex Trading Strategy
　　Past execution is no assurance of future outcomes - you have likely heard this proclamation ordinarily. This is valid as exchanging systems that worked in the past may not work in the ongoing business sector climate.
　　In any case, this doesn't imply that you shouldn't back-test the forex exchanging methodology that you will utilize. If you have accurately distinguished the ongoing kind of the market (moving or running) and chosen the suitable forex exchanging methodology, you ought to investigate how it would have acted lately or months.
　　Assuming you see that the methodology would have conveyed positive outcomes, you ought to attempt it in genuine exchange. Nonetheless, on the off chance that your examination shows that the procedure was not working lately, you ought to look for another forex exchanging technique that would be advised for execution.
　　 Assembling It All
　　Now that we've examined the most compelling and interesting points while picking a forex exchanging procedure, we should take a more significant level view of this cycle.
　　The main thing is to remain sensible while picking a forex exchange procedure. There is a compelling reason need to hurry. You ought to take as much time as necessary and cautiously assess your monetary objectives, time accessible for exchanging, current inclinations in exchange, and the present status of the market.
　　You ought to likewise get ready for different economic situations. At any rate, you ought to have a current arrangement for a moving business sector and a going business sector. Preferably, you ought to have a few techniques for each kind of market so you can rapidly switch between them assuming that you see that one of your methodologies doesn't perform as per your underlying assumptions.
　　You should likewise remember that any methodology needs time to show its actual exhibition in current economic situations so you ought to be patient and give it some time before you reach the last determinations.
　　Assuming you do everything accurately, youll have a bunch of exchanging procedures that could be changed over the long haul to suit your necessities.
　　How to choose a reliable and suitable forex broker？
　　Last year, WikiFX completed the launch of the PC terminal. Since then, it has completed the three platforms of Web terminal, mobile app terminal, and PC terminal, protecting the security of forex traders from all aspects. If you want to ask which port software is better？ The three platforms of WikiFX are the same and all the functions are perfect. The difference is that it can meet the different needs of traders. For example, some investors prefer to use a mobile phone to check the platform

https://www.wikifx.com/en/newsdetail/202207151524972320.html

Abstract：NFTs are the newest asset class; many traders and investors alike are keen to learn about NFT trading and how they can get started.

　　Anyone with even a mild interest in the financial markets has likely heard of non-fungible tokens, better known as NFTs. The concept of an asset being non-fungible is unusual for traders of traditional financial instruments such as forex, stocks, currencies, commodities or oil – all of which are fungible.
The difference between fungible and non-fungible assets
　　A fungible asset is one where its units are interchangeable. For example, one US dollar is worth the same as any other US dollar; one AAPL share is worth the same as any other AAPL share, and one ounce of gold is worth the same as any other ounce of gold.
　　In contrast, a non-fungible asset is one that isnt interchangeable. For example, while both are paintings worth hundreds of millions of dollars, The Scream by Edvard Munch is not worth the same as the Mona Lisa by Leonardo da Vinci; they are not interchangeable. One-of-a-kind pieces of art are often used to describe the concept of NFTs, but there is one notable difference – NFTs are intangible, meaning they do not have a physical form and cannot be held or touched.
　　Another aspect that makes NFTs somewhat confusing is that they are digital, making them easy to replicate simply by using the copy-paste function on a computer. In contrast, copying the Mona Lisa takes some real skill and effort. However, the authenticity of genuine NFTs is easily verifiable on a public blockchain, whereas most people reading this article probably wouldnt be able to tell the difference between an original and a copied piece of art.
What is an NFT？
　　NFTs are the latest trend to emerge in the world of decentralised finance, and the newest digital asset many traders are speculating on. An NFT represents a rare or unique digital item, such as artworks, animations, avatars, videos or music. As weve already covered, while NFTs are intangible, authenticity and ownership are verifiable on blockchains.
　　NFTs exist on blockchains such as Ethereum, EOS and Solana. Their characteristics are defined in smart contracts visible on the blockchain explorer and accessed via compatible crypto wallets. The blockchain maintains public records of the NFT creator, creation date and ownership history.
　　Some of the best-known NFTs are avatars like Cryptopunks, The Bored Ape Yacht Club and Cool Cats collections and Twitter founder Jack Dorseys first-ever Tweet. NFTs have also made their way into virtual worlds (known as the metaverse) like Decentraland, SandBox and Axie Infinity, where users can own virtual land and possessions.
How is the price of an NFT determined？
　　The first principle to know before starting NFT trading is to understand how prices are determined. Like any asset, NFT prices are governed by the laws of supply and demand. The structure of the NFT market is similar to the $1.7 trillion art investment world, rather than traditional financial markets.
　　Art is arguably the least liquid market in the world. Often there is just one of each piece, and collections are limited, meaning the supply is always low. Therefore, if the demand is high, prices can reach eye-watering levels.
　　The most expensive NFT sold is the “Everydays: The First 5000 Days” by artist Mike Winkelmann, also known as Beeple. This NFT sold for US$69.3 million at Christie‘s auction house in 2021. But not every NFT will be worth tens of millions of dollars or even preserve their value. For example, Jack Dorsey’s tweet that was sold for $2.9 million in 2021 was recently listed for auction for $48 million, yet the highest bid was a mere $280.
　　In most cases, scarcity, utility and emotional value drive the demand for certain NFTS. As trends and interests change over time, the perceived value of rare artworks will shift too.
How to trade NFTs
　　There are several reputable marketplaces for buying and selling NFTs. Popular NFT trading marketplaces include OpenSea, X2Y2 and Magic Eden; these platforms let users buy and sell NFTs from their crypto wallets. However, NFT trading works more like an auction house rather than the financial markets.
　　In the marketplace, buyers bid on listings similar to auction sites like eBay. Each bidder competing to buy a particular NFT determines the values with their bid. The seller may set a reserve price to prevent the asset from being sold too cheap. Once the auction is concluded, the investor with the highest bid becomes the new owner, and the crypto is transferred from escrow to the seller, thus completing the deal.
　　Trading NFTs is a long-term strategy as it will likely require you to buy and hold your assets for months and possibly even years.
How someone can profit from the NFT trend
　　The first generation of NFTs was created in 2015 using smart contracts on the Ethereum blockchain. Since then, dozens of blockchains have begun supporting NFTs. Popular blockchains for minting NFTs are Solana, EOS, TRON, WAX, Binance Smart Chain and Ethereum.
　　Each blockchain that supports NFTs has a native token, which is required for minting, buying and transferring NFTs. Understanding the fundamentals of the NFT market could be extremely helpful when trading cryptocurrencies. NFT users need the native tokens of the blockchain theyre using to mint, transfer and buy NFTs, influencing the demand for those tokens.
　　Essentially, NFT trading can become a new economic indicator for gauging the fundamentals of the cryptocurrency markets.
Where to trade cryptocurrencies
　　There are dozens of well-known cryptocurrency exchanges, but they can be lacking in user experience. tixee is an award-winning and globally regulated forex and CFD broker offering leverage to go long or short on various cryptocurrencies, including popular cryptos used for NFT trading such as ETH, EOS, NEO and more.
　　Best of all, you can get exposure to the crypto markets without having to buy and deposit cryptocurrencies which, in the case of Bitcoin and Ethereum, can have high network fees. tixee lets you deposit for free using your credit or debit card, bank transfer and a list of local and alternative payment methods

https://www.wikifx.com/en/newsdetail/202207167834680581.html

Abstract：This e-book was created with the sole purpose of providing a trustworthy and str aightforward resource so you can learn all the fundamentals of forex trading with out the need to endlessly trawl through Google searches. We don’t claim to have any secret magic tips on Forex trading. You’re not going t o hear anyone suggesting you will make a trillion dollars a week or that you will b e buying your private island next month. Instead, what this book offers is a safe h aven for newbie traders.

　　Why People Forex？
　　Start with $100


　　Until the early 2000s, it was not possible to trade forex markets with anything less than $10,000. Unlike other fin ancial markets, you can trade with much smaller amounts such as $100. More and more players are entering the forex market, allowing you to leverage your capital and make money from fluctuations in the forex market.
　　Work While Lying in a Hammock
　　You can literally trade forex markets while sipping on a cool drink and lying in a hammock. All you need to get started is some capital to trade with, a computer, laptop or smartphone and an internet connection. You decide when you want to trade and therefore your working hours.
　　No crisis


　　Even during a financial crisis, you can still make money trading forex markets. Any oscillation in the currency can be taken advantage of by going long or going short. Whether a market is bullish or bearish, you can trade either way with forex unlike stocks or other financial instruments.
　　Learn from Pros with social trading


　　You can watch what professional traders are doing and observe their trades with Social Trading. Social trading lets you copy other traders strategies and can be very beneficial to newcomers, shortening the learning curve. In the past, traders relied on fundamental and technical analysis, but with social trading, you can take cues from successful traders to make money on forex.
　　Easy rules


　　The forex market is quite straightforward as compared to other financial markets. With stocks, you have to analyse company reports and choose from thousands of companies to invest in. However, forex markets generally revolve around eight currencies, known as the Majors. Put simply, the better a countrys economy is doing, the better we expect their currency to perform.
　　How to Trade if You Are a Busy Person？
　　Choose Platfrom
　　Even if you are new to Forex, there are beginner friendly platforms like XM (10 millions users) that offer you an interesting opportunity to follow the best traders and copy their transactions.
　　Follow Top Traders
　　Discover traders you want to follow and add to your watch list. View their past performance stats, read status updates on their strategies, analyze results and communicate with them
　　Use WikiFX EA/VPS
　　If you are satisfied with the results and trading style, you can use EA for trade with one click of a button
　　Learn and Profits
　　Now you can sit back and watch how experienced traders do the work for you. Your task is to carefully analyze their results and learn as much as possible from their trades. The ultimate goal of social trading is to build a portfolio of the best traders. You must have traders with different risk appetite and various currency
　　What is Leverage, Pip & Spread
　　Leverage
　　Leverage, which represents a margin trading ratio, enables traders to borrow a certain amount of money that allows them to trade in much bigger deals. Moreover, leverage allows one to trade using more money than they have in their account.
　　Therefore, you “leverage” your accounts balance to place a bigger trade.
　　Currency rates move very slowly. This makes small trades unfashionable as they only return small profits and losses for every pip rate changes.
　　Therefore, leveraging helps one to trade in larger deals hence amplifying their potential profits and losses.
　　Pips
　　Price Interest Point represents the smallest change in a currency pair. Typically, it is the fourth decimal point, although many brokers quote using the fifth decimal. However, the fifth decimal doesn't really affect the price as it changes really quick.Currency pairs that include the U.S. dollar, a pip is 1/10, 000 of a dollar,
　　Spread
　　In Forex trading, brokers quote the bid and ask price for the currency pairs. The bid is the price that a trader can sell the base currency while the ask is the price they can buy the base currency. Spread refers to the difference between the two prices. Besides, this is how the “no commission” brokers- those who do not charge a separate fee on traders transaction make their money.
　　The spread is measured in pips. Most currency pairs the base currency and quote currency have a pip value equal to 0.001. For instan ce, take the following quote; EUR/USD = 1.1051/1.1053 the spread is 0.0002, which equates to 2 pips.
　　What is Forex？ Find Out Here!

　　In the Forex market $5.3Trillion is traded daily, making it the largest and most liquid market in the world.

　　The trade in Forex occurs between 2 currencies, because one currency is being brought and another - sold at the same time

　　Point(pips) - The fourth unit after the decimal point, which is the small est unit of an exchange rate.
　　Spread - The difference between the sell quote and the buy quote (in pips)
　　How To Read Currency Pairs？

　　Currencies are traded in pairs as their value is relative to one a nother.The first currency shown is the controlling one in terms of placing your order. So if you see EUR/USD then you are always choosing to buy or sell the first currency (Euro) against the second currency (U.S dollar)



　　Majors are widely traded by beginners and professionals alike. This is because they have the most liquidity, lowest spreads and the broadest ra nge of movements. Unlike small currencies, majors are generally more stable.The economic and political institutions of these nations are generally long established and predictable compared to other nations.
　　The Exotic currency pairs are less traded and so much more costly to buy or sell. Dont let the cost put you off, because many of the greates t traders of all time made their fortunes with exotics. For example, one of the 5 greatest forex traders, George Soros gained $800 million profit from selling Thai Baht (THB) in 1997 Asian crisis.
　　The crosses are any currency pair that doesnt feature the USD and they do not hold any less profit potential than the majors. Too much
　　US Dollar exposure can lead to all your trades heading in the same direction, a bi

https://www.wikifx.com/en/newsdetail/202207146954966320.html

Abstract：One of the most crucial components of currency trading is determining an effective Forex trading strategy. In general, various sorts of traders have devised a variety of trading techniques to assist you in making money in the market.

　　One of the most crucial components of currency trading is determining an effective Forex trading strategy. In general, various sorts of traders have devised a variety of trading techniques to assist you in making money in the market.
　　One of the most underrated forex trading strategies is finding a good and trustworthy broker. WikiFX allows traders to fully vet their brokers to understand if they are licensed and regulated. To avoid broker scams, all traders should add a broker scam strategy to their trading strategy.
　　Individual traders, on the other hand, must identify the finest Forex trading strategy that fits their trading style and risk tolerance. Finally, there is no such thing as a one-size-fits-all solution.
　　Traders should focus on decreasing failing deals and increasing winning trades in order to generate a profit. Any trading technique that gets you to this aim has the potential to be a winner.
　　How to Select the Most Effective Forex Trading Strategy
　　Before we go into the most common Forex trading techniques, it's critical that we understand how to choose the ideal trading strategy. In this procedure, there are three primary components that should be taken into account.
　　Period of time
　　It is critical to select a time frame that is appropriate for your trading style. There's a big difference between trading on a 15-minute chart and trading on a weekly chart for a trader. If you want to become a scalper, a trader who profits from little market movements, you should stick to the shorter time frames, such as 1-minute to 15-minute charts.
　　Swing traders, on the other hand, are more likely to produce lucrative trading chances using a 4-hour chart as well as a daily chart. As a result, before deciding on your favorite trading technique, consider the following question: how long do I want to stay in a trade？
　　Different trading techniques correspond to different time periods (long, medium, and short-term).
　　The number of trading options
　　When deciding on a strategy, you should ask yourself, “How often do I want to open positions？” If you want to start a large number of positions, a scalping trading method is the way to go.
　　Traders who spend more time and money examining macroeconomic reports and fundamental issues, on the other hand, are more likely to spend less time in front of charts. As a result, greater time frames and larger holdings are part of their favored trading technique.
　　Dimensions of the location
　　The importance of determining the right deal size cannot be overstated. Successful trading methods need an understanding of your risk appetite. Risking more than you can afford is dangerous since it can lead to larger losses.
　　Setting a risk limit for each trade is a frequent piece of advise in this respect. Traders, for example, usually establish a 1% limit on their transactions, which means they won't risk more than 1% of their account on a single trade.
　　If your account is worth $30,000, for example, you should risk up to $300 on a single trade if your risk limit is set to 1%. You can change this restriction to 0.5 percent or 2 percent depending on your risk appetite.
　　In general, the larger the position size should be the fewer trades you are trying to open, and vice versa.
　　Three Strategies That Worked
　　You've determined a time frame, the target position size on a single trade, and the anticipated number of transactions you want to open during a certain time period. We've put together a list of three prominent Forex trading methods that have shown to be profitable.
　　Scalping
　　Scalping in forex is a popular trading method that focuses on tiny market changes. This approach entails opening a huge number of transactions in the hopes of making tiny returns on each of them.
　　As a result, scalpers attempt to maximize earnings by accumulating a high number of modest gains. Holding a position for hours, days, or even weeks is the polar opposite of this strategy.
　　Due to the liquidity and volatility of the Forex market, scalping is quite popular. Investors want markets whose price movement is continuously changing so that they may profit from modest variations.
　　This style of trader is more concerned with gains of roughly 5 pips every trade. They are expecting, however, that a vast percentage of deals will be profitable since earnings are consistent, reliable, and simple to obtain.
　　Scalping has a distinct disadvantage in that you cannot afford to stay in the trade for too long. Scalping also takes a lot of time and effort.
　　Trading on a daily basis
　　The process of exchanging currencies in a single trading day is referred to as day trading. Although day trading method may be applied in any market, it is most commonly utilized in Forex. This trading strategy suggests that you open and close all deals on the same day.
　　To reduce the risk, no position should be open overnight. Unlike scalpers, who are only interested in staying in markets for a few minutes, day traders monitor and manage their open deals throughout the day. To create trading ideas, day traders often use 30-minute and 1-hour time periods.
　　Many day traders' trading tactics are based on breaking news. Economic indicators, interest rates, GDPs, elections, and other scheduled events have a significant influence on the market.
　　Trading Positions
　　Trading positions is a long-term strategy. This trading method, unlike scalping and day trading, is primarily concerned with basic variables.
　　Minor market changes are not taken into account in this technique since they have little impact on the overall market picture.
　　To detect cyclical patterns, position traders are likely to study central bank monetary policies, political developments, and other fundamental variables. Over the course of a year, successful position traders may only open a few deals. Profit objectives in these trades, on the other hand, are likely to be in the hundreds of pips each transaction.
　　WikiFX is a forex broker enquiry app, which allows traders to view brokers' licenses and regulations. This is crucial to any trading strategy, as broker scams are one of the main reasons why traders fail. Traders can also view the WikiFX score as well as view other traders' reviews of the broker on the app or website. Traders can download the app on the app store or play store

https://www.wikifx.com/en/newsdetail/202207134554578921.html

Abstract：Forex trading is indeed a profitable business in the financial market. However, not everyone can make money on forex trading many people suffer a heavy financial loss in the forex market. When seeking a forex broker, one of the key factors that traders need to keep in mind is risk management. A good broker can have a strong ability in risk management. Which will help you avoid the loss.

　　Forex trading is indeed a profitable business in the financial market. However, not everyone can make money on forex trading many people suffer a heavy financial loss in the forex market. When seeking a forex broker, one of the key factors that traders need to keep in mind is risk management.
　　A good broker can have a strong ability in risk management. Which will help you avoid the loss.
　　Scoring Criteria
　　WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.
The Scoring Criteria of Brokers on WikiFX
License index: reliability and value of licenses
Regulatory index: license regulatory strength
Business index: enterprise stability and operational capability
Software index: trading platform, instruments, etc
Risk Management index: the degree of asset security
　　What is Risk Management in the forex market？
　　Risk Management is the practice of protecting your account and assets. Risk management includes the measurement, assessment, and contingency strategy of risk. Ideally, risk management is a series of prioritized events. WikiFX can give a certain broker a low score for its risk management if this broker does not have enough capital and good strategies to secure clients assets when an emergency occurs.
　　The case of Zeus Capital Markets
　　Sometimes, one broker has decent WikiFX scores, but it still has a lot of complaints. It is usually relevant to its capability of risk management.

　　Zeus Capital Markets is a typical example. Zeus Capital Markets is an online forex broker founded in 2021, it is a South African-based online forex broker that offers clients more than 60 trading products, including forex, precious metals, global indexes, and oil. According to WikiFX, it has a decent score of 6.10/10. However, recently WikiFX has received too many complaints against this broker. And we found that Zeus Capital Markets has a 0 score on its risk management.

　　(Source: WikiFX)
　　According to the above, this broker seems not to have enough capital and good strategies to secure clients assets when an emergency occurs. If you want to know more about this broker, please click this link https://www.wikifx.com/en/newsdetail/202207121754127116.html

　　Leverage
　　Choosing suitable leverage can significantly reduce the possibility of losing money. Understanding and controlling the leverage is the fundamental thing for your trading success. Some brokers, such as Exness, offer traders extremely high leverage of up to 1:Unlimited. And some other brokers, such as HotForex, offers leverage up to 1:1000. Those brokers with high leverage are not suitable for inexperienced traders and newbies to invest in. Traders need to keep in mind that high leverage can amplify the benefit as well as loss. if they want to avoid the potential risks.
　　 Stop-Loss Orders
　　Stop-loss orders can protect your accounts and funds by minimizing loss. You need to use stop-loss orders when trading. When you realize that the trading process is abnormal, you need to cut the loss immediately. Because an unexpected emegency could have the market ripping against you rather quickly, it is necessary for traders to use stop-loss order.
　　Choose an appropriate broker
　　When we seek a broker on WikiFX. We need to check if this broker is regulated. You can mitigate the risk by choosing a regulated broker with a good reputation. Usually, the broker that has a high WikiFX score is more trustworthy than those that have low scores. However, it is also important for traders to check if there are complaints related to this broker by clicking the “Exposure” button. After all, the feedback from other traders is an excellent reflection of this brokers reputation.
　　Conclusion
　　You can open the website of WikiFX(https://www.WikiFX.com/en) or download the WikiFX app(https://www.wikifx.com/en/download.html) to check certain brokers Scoring Criteria by yourself. WikiFX gives you a direct view of what one certain broker looks like. After all, WikiFX can help you find a good broker that has a strong ability in risk management. which will help you avoid the loss significantly

https://www.wikifx.com/en/newsdetail/202207091544820588.html

Abstract：Being a newbie in the Forex industry can be quite scary. After learning the basics, it is essential for traders to identify themselves based on their trading style. According to Trading Psychology, many factors come into play in financial success, such as cognitive, emotional, and social capacity. Therefore, finding what works for you early on is an important step, especially if you plan to engage in trading for the long term.

Trading in Style
　　Traders are typically divided into four types: position traders, swing traders, day traders, and scalpers. Each of these traders have specific goals in mind when it comes to their assets, depending on what kind of trade they are interested engaging in. When deciding on the trading style to adopt, a trader must consider three things: personality, availability, and Forex knowledge.
Position Traders
　　One of the biggest factors traders consider when finding their own style is the time they can put into trading.
　　Position trading is perfect for those who do not mind waiting for longer periods of time to earn profits, as position traders look more into a currency pairs performance in the long run instead of short-term price fluctuations.
　　Position traders wait between weeks to months to close open trades. They tend to be more systematic traders as this style lends itself well to those who have a clear grasp of fundamental factors and systemic strategies in making trading decisions.
Swing Traders
　　Unlike position trading, swing trading involves less time as this trading style focuses more on short-term market movements. As these movements can happen quickly, swing traders close open trades in as fast as overnight to a few days, provided that they have the right tools and strategies to conduct these trades. Due to the nature of swing trading, being technical and detail-oriented are prized characteristics of traders who engage in this trading style. It is essential for swing traders to learn technical concepts that include but not limited to moving average and candlestick patterns, as well as support and resistance.
Day Traders
　　While some traders engage in position and swing trading as a side hustle that requires little time, day traders trade daily and close all their open trades as the trading day ends. Unlike the first two trading styles, day trading involves observing large movements of volatile currencies throughout the day, as well as buying support, selling resistance, and trading breakouts and/or pullbacks.
　　Clients who engage in day trading are usually on the more skilled end of the spectrum, where their thorough knowledge, wide experience, and tried strategies form part of their capital. Day traders thrive on quick turnover rates, and to earn profit, they make use of their analysis and quick decision-making skills.
Scalpers
　　Among the trading styles, scalpers hold the most flexibility when it comes to trading. Compared to the other three types of traders, scalpers enter and leave the market in a matter of minutes as their profits rely heavily on small price changes. Those who engage in this type of trading style maintain a clear eye on market conditions while they trade and make quick-witted decisions parallel with the market‘s rapid movement. A skilled scalper is highly analytic of information coming in throughout the day and uses these to inform their trading decisions quickly to achieve greater profits from the market’s busy conditions.
Final Words
　　Knowledge, patience, perseverance, and dedication are important values when it comes to deciding which trading style to engage in, as these values lay out the groundwork for finding the most suitable style tailored for each trader.
　　Moreover, while trading can be fast-paced, committing to one trading style is not the be-all and end-all of the industry. Changing styles can also be possible. Whether it is to experience different styles or to look into trades in a more in-depth manner, you are encouraged to find what works for you, provided that you have a clear grasp of one approach before switching to another

https://www.wikifx.com/en/newsdetail/202207091834864252.html

Abstract：Life is all about timing. So goes with trading. In trading, you need to be aware of the best and the worst time to trade. And this is why you should never trade in said time. We all have those winning moments – from the smallest ones to the biggest ones. We all like the feeling it provides, right? It’s a high time for us, and we happily invite delusions to our mind. As a result, our sense of reality gets distorted. We tend to bloat things up and disengage from reality and create our own.

　　In trading, your winning moments can ironically work against you. You tend to generate false confidence within you that often leads to delusional decisions.
　　To make things clear, losing trades cannot be avoided. But what we want to emphasize here are the losses that you can actually avoid – losses that come from emotions. These things happen right inside of you which you are not aware of.
Why is a Win a Crucial Time to Tride？
　　It might sound a little ironic to know that after winning can be the most dangerous time to trade. But this fact is backed by a scientific basis that we need to understand.
　　There‘s a high feeling after winning a trade. It just feels good. Dopamine releases good chemicals in your brain when something happens that makes you happy. It’s a natural occurrence, but what makes it dangerous is when you become addicted to that feeling.
　　When you crave for more feel-good feelings, you tend to push yourself to disastrous trading decisions. This craving manifests when you, after winning, are more likely to over trade. You are more prone to making stupid decisions because your brain perceives less risk when theres a high level of dopamine. Your logic falls down, and you make it work in contrast to your trading strategy

https://www.wikifx.com/en/newsdetail/202207086004421470.html

Abstract：At this point, it is not secret, that the United States economy, one of the largest, in the world is experiencing record-breaking levels of inflation. The effects of this inflation have been felt across the globe as markets and stocks have been what seems to be a downfall. The question is how did we get here and what does that mean for us traders.

　　At this point, it is not secret, that the United States economy, one of the largest, in the world is experiencing record-breaking levels of inflation. The effects of this inflation have been felt across the globe as markets and stocks have been what seems to be a downfall. The question is how did we get here and what does that mean for us traders.
　　Due to the recent pandemic, there was a lot of money pumped into the US economy into businesses to encourage economic activity when everyone was locked up. This included funding packages for normal citizens who had lost their job due to the restrictions. This was all good and well but the chicken has come to roost as too much money with not enough resources causes inflation. This included the recent rise in oil prices thanks to the Ukraine and Russia war. The prices of everything dependent on the chain supply of oil has had to rise due to this and has caused quite the panic.
　　But as history has shown many times, when there is a crash in the markets and when assets and commodities are cheap it is the right time to start buying in hopes for the next rise. And that is what we should be looking for in the market, indications that the economy is starting to stabilize and things are about to rise in orders of magnitude.
　　Firstly due to the uncertain nature of this market you are going to need a broker with the cheapest barriers of entry. You may have to enter the market more than once to find that buy entry and to really benefit from this you will have to hold your position for days and months on end. So you will have to find a broker with small spreads and no overnight or over weekend charges. Also because brokers probably don‘t want you winning in the market, you are going to have to find a regulated broker who won’t mess with your trade or deny you your winnings when its time to cash out. To find such a broker I recommend you use WikiFx. This app helps you find the best regulated brokers with the best ratings and service. And if any misconduct is found on behalf of these brokers, you can report it through WikiFx as they are connected to every regulatory agency out there.
　　Secondly you are going to have to watch the US government closely. The government has to start releasing policies such to reduce the amount of money within the economy. They can increase income and sales taxes to reduce the amount of cash present within the economy. They can also restrict money flow by instructing banks to increase the levels of money stored in their banks at any moment,. This means that instead of the usual, say 30% of all funds a bank should always have on site they can increase that to say 45%, heavily discouraging banks to give out loans and give out loans at higher interest rates. This will discourage people from taking out loans and ultimately it will discourage spending within the economy .
　　It is paramount that you start watching important economic news from the US and pose yourself in a position to pounce on the opportunity when it arises. Markets dont fall forever, so do not join in on the panic. Arm yourself and prepare for the incoming bull market

https://www.wikifx.com/en/newsdetail/202206201824916438.html

Abstract：Day traders make mistakes. They often develop as a result of too much information coming in at once, leading you to get overwhelmed, worried, or irritated. Mistakes might happen during quiet/boring periods when your guard is down.

　　Day traders make mistakes. They often develop as a result of too much information coming in at once, leading you to get overwhelmed, worried, or irritated. Mistakes might happen during quiet/boring periods when your guard is down. Then there are random errors, such as pressing the incorrect button (purchase instead of sell) or inputting the wrong position size. Even automated tactics may produce issues if the settings are incorrect or software malfunctions.
　　It might be beneficial to spend a few minutes before each trading day going through a pre-trade ritual or checklist to help reduce mistakes throughout the day. Depending on the market, you may want to add a few more stages to the ones displayed. Running through a routine just takes a few minutes, but it might save you a lot of time and money.
　　Examine the Economic Calendar
　　High-impact economic events may produce price spikes or gaps, resulting in severe slippage (a price change between the time you buy and the time the transaction is completed) on stop-loss orders. It is advised to avoid trading during the few minutes before high-impact planned news events.
　　Before investing, review your economic calendar and take note of any major news events. Bloomberg is a good source of news for US equities and futures. Check out the WikiFX economic calendar for Forex.
　　If you trade specific stocks regularly, be sure the firm doesn't have any results or other releases scheduled for that day. The earnings calendar on Yahoo! Finance works wonderfully. Be aware of these periods to prevent trading before announcements.
　　Platform for Launch
　　Start your platform. Check that quotations are flowing (rather than sluggish or irregular) and that the software is working smoothly. Although most brokers offer dependable data feeds, issues might develop. If the data stream is interrupted or seems to be erroneous, do not trade until the problem is resolved. Proceed if everything seems to be in order.
　　Correct Account and Contract Trading
　　You may use the same platform to log in to several accounts in MetaTrader and NinjaTrader, for example. Check that you are trading in the proper account. Be extremely cautious if you day trade in a simulated account and have real accounts. You don't want to conclude the day thinking about how lucrative it was just to learn you traded in simulation rather than real money.
　　If you are day trading futures, be certain that you are trading the highest volume contract. Keep an eye out for contract expiry dates.
　　Make Text Messages to Yourself
　　Put text annotations on your chart indicating when high-impact news releases occur. If you are immersed in a deal, you may forget about one of these occurrences, which may cost you dearly. Make a note of it on your chart.
　　Scroll over and place the text note towards the estimated time of the announcement if the event happens later in the day. That way, you'll be able to view it when the time comes.
　　Check Your Automated Strategies Three Times
　　Even if you trade every day by hand, you may have some automated orders. For example, when you initiate a trade-in NinjaTrader or MetaTrader, you may send out stop-loss orders and objectives. Make certain that these stop-loss orders and objectives are properly established.
　　Before you begin trading using a “robot” or scripts, make sure all settings are correct and scripts are loaded.
　　Size of the Default Position
　　If you use a default position size, check sure it is set correctly. Adding a digit to a position size might be disastrous. Dropping a number means you only get a fraction of what you might have gotten and lost out on a chance.
　　If you manually adjust your position size based on your entry point and stop loss locations, keep a note of your account balance before you begin trading. Having a small position size minimizes the risk to a small percentage of the account, such as 1%. You may risk up to $350 on a transaction if you have a $35,000 account. Remind yourself throughout the day that this is the greatest risk you can take on a single trade by keeping this maximum risk in mind (or writing it down on your screen).
　　Important Considerations
　　You might keep a trading notebook every day to remind yourself of any blunders you may have made. Remind yourself of any troublesome habits and how you intend to handle difficult circumstances if they happen. Review your primary trading ideas and tactics.
　　Market Situation
　　Make a fast evaluation of pre-market trade conditions. Is there any volatility, or is it calm？ Do you observe any patterns or particular tendencies？
　　Such an evaluation will tell you how to continue and if you should trade your system at all. This is particularly true when utilizing a subjective system—one that fluctuates somewhat depending on market circumstances.
　　In turbulent circumstances, for example, you may have a higher projected profit objective than on a day with less volatility.
　　Establish a Quitting Time (Optional)
　　If you identify a time of day when you consistently lose transactions, make a mental note to cease trading at that time. When trading US markets, many day traders lose money during the hours around (and including) the New York lunch hour.
　　If you detect this pattern, attempt to avoid trading. Make notes for yourself, set reminders or alarms, and put them in your daily routine as a reminder.
　　Begin Trading With Your Key Ideas in Mind
　　You're ready to start trading. To prevent pitfalls like trading the wrong account or contract, trading during the news, or just not preparing your mind to trade, follow this approach.
　　Keep your primary trading concepts in mind as you begin searching for prospective trade settings. This will keep you out of transactions that are not in your trading strategy and will keep you awake and ready to seize favorable possibilities.
　　Make a Trading Routine for the Day
Depending on your trading style and the market your trade-in, your day trading process may differ significantly from this. It does, however, assist to establish a routine. It simply takes a minute or two to complete and may save you a lot of time and stress

https://www.wikifx.com/en/newsdetail/202207066544655089.html

Abstract：Forex trading basics haven’t changed much in the past few decades. But the technology, accessibility, regulations and economy are radically changing the forex market faster as each year passes.

　　The concept of speculating on currency exchange rates, better known as forex trading, has remained constant ever since the first electronic trading platforms emerged in the early 90s. Essentially, forex traders predict whether one currency will increase in value against another using derivatives such as futures, options and, most commonly, contracts for difference (CFDs).
　　While the forex market is seen by many as a legacy financial market, in recent years, many new traders have been introduced to the craft of trading because of popularised markets such as stocks and cryptocurrencies. The trouble with stocks and cryptocurrencies is there are thousands of individual assets to track, some of which come and go. In contrast, there are just dozens of forex trading pairs and just several major pairs. The majority of currencies we have today are here to stay.
Forex trading basics
　　You‘re probably familiar with the proverb “money makes the world go round”. Well, that’s why the forex market is considered by many people the ultimate market to rule all other markets.
　　Many discuss how the forex market is tradeable around the clock and that its the most liquid market with several trillion dollars of currency traded daily. But what about the fact that all other financial instruments are quoted in currency too.
　　If you‘re buying shares in Apple, you need US dollars; if buying shares in BMW, you need euros; if buying oil, you need dollars, and so forth. Without currency, you can’t invest in other financial markets.
Forex trading trends in 2022
　　When most traders learn forex trading basics, they are trained to focus on technical analysis, which is the most common technique for predicting the price of currency pairs and timing when to enter and exit their positions. In contrast, few traders use fundamental analysis as there are simply too many factors influencing the demand for different currencies; its impossible to understand and analyse them all!
　　However, these trends affecting forex trading in 2022 will turn the basics upside down. The global economy has entered a period of extreme transformation, and we will experience more and more events that significantly impact the value of currencies.
Bearish markets drive safe-haven currencies
　　Global stock markets have officially entered bearish territory. The consequence is billions of dollars, euros, pounds and yen leaving major stock markets and being reallocated to other assets or simply parked in safe-haven currencies, such as US dollars and Swiss francs.
　　Many experts predict this bear market might stick around for quite some time. Despite stocks depreciating, the forex market continues to fluctuate and offers plentiful opportunities to traders. When investors buy safe-haven currencies, the short-term demand drives the price up; holding the currency reduces the supply, helping to preserve the higher price level.
Japanese yen loses safe-haven status
　　Historically, the Japanese yen has been considered a safe-haven currency. Whenever the global markets experienced a black swan event, investors would hold their cash in US dollars, Swiss francs or Japanese yen. In the most recent stock market sell-off, the value of the Japanese yen has declined to an all-time low rather than increased, as history would suggest.
Inflation changing the way people invest
　　The world is experiencing a period of unprecedented inflation. Inflation doesnt just erode purchasing power and make things more expensive; it changes the way people invest.
　　Suppose you profit 10% from a one-year investment; most would consider it a success. Now suppose inflation for that year was 15%; that effectively becomes a loss. Investors and traders need to seek strategies that outpace inflation. Most forex trading strategies speculate on short-term price movements, which is a more efficient use of capital than buying and holding assets for several weeks or months.
Higher interest rates change the fundamentals of currencies
　　Raising interest rates is one of the few tools central banks have to control inflation. Increasing interest rates is a theme that will take centre stage in 2022.
　　One of the prominent forex trading basics traders learn is that interest rates severely impact the supply and demand for certain currencies. As each country or economic region increases interest rates, investors are enticed to lock their cash up in fixed income products, such as bonds or timed deposits. Suppose the Bank of England raises interest rates to 5%, investors will first purchase pounds and then isolate them from the economy by putting them in savings accounts or buying bonds.
　　While higher interest rates lower inflation by reducing the amount of cash in circulation, it makes borrowing more expensive and slows down costly projects that require loans and mortgages, which can trigger a recession. With interest rates increasing several percent, we might see the return of the carry trade.
Recession leads more traders to discover CFDs
　　Everyone expected 2020 to be the year of an economic catastrophe, but it appears the global economy was more resilient than the experts predicted.
　　However, as more crises have since emerged, such as the conflict in Ukraine, aggressive lockdowns in China, soaring energy prices, chatter about food shortages, rising interest rates, a bearish stock market, and a potential crypto winter have all converged to present a cluster of challenges.
　　Knowing where to put your money can be challenging in the face of a recession. However, the forex market is considered a recession-proof market because as one economy performs better than another, the value of its currency will rise, and the other will fall. There are always opportunities in the forex market, which is why traders who started their journey trading stocks or cryptocurrencies may start gravitating towards contracts for difference.
　　Many traders find CFDs and forex to be more flexible instruments that enable various trading strategies. Whatsmore, CFDs are asset class neutral, meaning they can be used to trade everything, such as currencies, cryptos, commodities, shares, indices and more.
Social trading 2.0
　　Social trading isn‘t a new concept, but due to complicated regional regulations, most brokers didn’t venture into the realm of social trading. With tixee social trading is making a comeback in 2022. The company offers a platform for experienced traders to become a new generation of financial influencers who can offer their too good not share trading strategies to the tixee trading community. The exciting and engaging social trading platform provided by tixee will help many new traders discover forex trading basics.
How to master the financial markets in 2022
　　If you‘re looking to discover new opportunities in the forex market in 2022 or any other financial market, you need an award-winning multi-asset class broker by your side. tixee is a global broker providing access to many financial instruments you’d imagine trading. With one trading account, you can trade CFDs on forex, stocks, indices, precious metals, energy products, commodities and cryptocurrencies.
　　One of the best parts about tixee is that the company is committed to helping its clients learn forex trading basics and develop their knowledge with valuable insights covering trending topics in 2022

https://www.wikifx.com/en/newsdetail/202207058444733200.html

Abstract：This article will educate the reader what are the steps needed if someone wouldyy like to start forex trading in a little capital?

　　Forex trading does not need a big quantity of funds. Of course, the more cash you invest, the bigger the profit you may get. That is how online trading works. Many licensed brokers offer a minimum deposit of as little as $10. However, we primarily urge those who want to begin their trading career to use a demo account and a trading platform to practice trading. In this manner, you will put everything you have learned on the WikiFX education page into practice. Online trading is low risk since it is provided trade knowledge and has a low chance of failure. Just bear in mind that before you put money in a broker, you should ensure that the broker you choose is extremely trustworthy and capable of managing its investors' demands at no cost. WikiFX has over 36,000 forex brokers listed and has worked closely with 30 financial authorities. IC Markets, which has an excellent rating on WikiFX, is an example of a highly trustworthy broker (as shown below).


　　ASIC has monitored IC Markets since 2009, and CySEC has regulated them since 2018. (as shown below). According to regulatory records, the broker IC Markets has a CySEC MM license and is headquartered at Omonoias, 141, The Maritime Centre, Block B, 1st floor, 3045, Limassol, Cyprus.


　　The WikiFX survey team was able to visit the broker's official office and check that the location shown on their website is correct.

　　Choosing the Best Broker
　　As shown on the IC Markets dealer page, no complaint from a single a trader from across the world received by WikiFX about IC Markets was negligent in handling its investors. This is how WikiFX checks each broker through trader complaints. This is also the way where the rating is computed.

　　As we all know, trading forex is a high-risk investment that may cause you to lose all of your money in a single deal if you do not have prior forex education and broker information. The benefit of WikiFX is that it assists traders in recovering as much of their invested funds as possible from their broker. On the WikiFX exposure page, you may see an example of such an occurrence. (As shown below)

　　Selecting a Broker with Caution
　　The WikiFX exposure may assist many traders in exposing their broker's illicit practices and allowing the WikiFX investigative team to take action by confirming the broker with financial authorities and commencing the procedure to close their offices if required. As a result, it is easier to identify unregulated brokers and prevent their operations from stealing money from innocent individuals who only wish to earn a career via forex trading. The following is an example of a reported occurrence was “unable to withdraw”.

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　　Just always keep in mind that WikiFX has a lot of features for a trader to utilize, especially the search bar to fully understand a broker's full details before investing with them. WikiFX app is also available on smartphones and can be downloaded for free on App Store and Google Play Store

https://www.wikifx.com/en/newsdetail/202207045064659726.html

Abstract：Investing in the financial markets has become a global phenomenon. Large corporations and well-heeled investors have long been the only ones allowed to engage in currency trading. In comparison to this, the foreign exchange market (forex) has opened up the financial sector to the general public.

　　Investing in the financial markets has become a global phenomenon. Large corporations and well-heeled investors have long been the only ones allowed to engage in currency trading. In comparison to this, the foreign exchange market (forex) has opened up the financial sector to the general public.
　　Multinational firms may do business in different countries thanks to the foreign currency (Forex) market. For this reason, bill payments in the local currency are more convenient. Investors may benefit from currency swings as a result.
　　There are several reasons why you should invest in the Forex market. We've mentioned a handful of the possible reasons for this below.
　　1. Availability
　　The Forex market is easier to access than other online trading platforms. As little as $100 is required to get started in foreign exchange trading. You don't need a lot of money to start trading. Begin small and work your way up if you're persistent, intelligent, and patient enough. Many people started with little and now have seven-figure businesses.
　　You may establish a Forex trading account from the comfort of your home or office using a laptop. There are a plethora of Forex brokers to choose from while doing your research online. After completing the necessary steps, you'll be able to start trading in no time. Exactly like Pepperstone Australia claims, the technique is as straightforward as described.
　　The quality of the Forex market is unaffected by its ease of use. Forex trading shows the advantages of this market, despite its flaws. If you're a new trader, you may establish a free demo account to get practice before diving into live trading on paper.
　　2. Time Adaptability
　　Trading in the Forex market is available 24 hours a day, almost every day of the week. Trading may begin immediately, without having to wait for the sound of the opening bell.
　　For this reason, it comprises currencies from across the world that are traded on a global scale Taking part in or leaving a transaction is completely up to you at any given moment. Whether you're a student, a business owner, or an employee, you may still trade half-time.
　　3. Earnings potential
　　Most investors are looking for an explanation like this. Investing in Forex may return more than tenfold your original investment in one day.
　　Even though the value of your currency declines, you may still profit from Forex. Like in the stock market, you only profit if your stock price goes up. If you believe the value of a currency will rise, you could consider purchasing it. When you think a currency's value may plummet, it's advisable to sell it. There's nothing more to say.
　　The Forex market is a two-way market where you trade in pairs. To put it another way, as one currency falls in value, the other rises in value. It's not uncommon for part-time Forex traders to leave their day jobs when they've amassed a tidy profit.
　　The goal is to boost profit margins by investing more. There is, however, a complication. Learn at your speed so that you can make smart business choices and come out on top.
　　4. Equality
　　Everyone is equal when it comes to investing in the Forex market because of its enormous size.
　　It's not uncommon for only one or a few persons or groups to control most markets. With Forex trading, ordinary investors are on an equal footing as banks and other institutions. Any attempt to manipulate or corrupt the Forex market would be futile.
　　In other words, your demand-supply model is likely to be true after all.
　　5. Availability of liquidity
　　Because of the scale of the market, forex trading is very liquid. An estimated $2 trillion is exchanged each day on the largest financial market in the world. Investors may readily enter or exit a position without concern that the price will rise too much before the transaction is completed.
　　You can buy or sell anything with a single click in a typical market since the other side of the market is always willing to accept your deal.
　　There will never be a situation where a trader is “held” hostage. A trade might be automatically closed after you've achieved the necessary profit on your online trading platform. Limit orders are what they're called. The contract may also be closed if it moves against you. This kind of order is called a stop-loss.
　　Awareness
　　Trading foreign currency, indices, and commodities on leverage entails a high degree of risk and is not appropriate for everyone. The great degree of leverage may operate both for and against you. Before investing in foreign currency or other markets, examine your investment goals, degree of expertise, and risk tolerance. There is a potential that you may lose part or all of your original investment. As a result, never invest money that you cannot afford to lose. It is possible to lose more than your original investment in certain situations since it is not always viable to quit a market at the price you expect to do so. There are further dangers connected with using an Internet-based trade execution software tool, such as hardware and software failure. You should be aware of all the dangers connected with investing in foreign currency, indices, and commodities, and you should seek the opinion of an independent financial adviser if you have any concerns. Smart Forex Learning's content is provided for general information and usage only and is not meant to meet your specific needs. The material, in particular, does not constitute advice or suggestion and is not meant to be relied on by users in making or abstaining from making any financial choices. Smart Forex Learning will not take responsibility for any loss or damage, including but not limited to financial loss, resulting directly or indirectly from the use or reliance on such information, whether given by him or those who engage in the services offered. Please use your best judgment and seek the opinion of a trained professional before accepting any information. Past performance is not always indicative of future performance.
　　Always remember to use the WikiFX app, which is also available for smartphones, as often as possible and to fully use the search bar to completely grasp how forex trading works and what the keys are to remember to enjoy the daily trading experience.
　　WikiFX has over 36,000 brokers listed and works closely with 30 financial agencies. WikiFX may assist traders in taking legal action to recover their funds. Follow the WikiFX expose the page to see the most recent complaints from traders all across the globe.

　　Last Word
　　Forex trading offers enormous returns if you take the time to study thoroughly and begin trading regularly. So many people are attracted to it because of the potential for large returns.
　　The average investor may trade tiny quantities of money at any time of day or night using this platform. Global corporations and individual investors alike trade on an equal footing. The market is unaffected by anybody or anything. Wishing you the happiest of holidays

https://www.wikifx.com/en/newsdetail/202207032724471575.html

Abstract：Cynics would say that playing poker and trading are similar in the sense that both are akin to gambling. But, for those who have done both, it is clear that there is a large level of skill involved in both the fields and it is the skill level that separates

　　Cynics would say that playing poker and trading are similar in the sense that both are akin to gambling. But, for those who have done both, it is clear that there is a large level of skill involved in both the fields and it is the skill level that separates the best from the rest. It is also the skills that help the trader or the player to come out of a specific tight situation and it is the same skill that makes him stay out when it is required and makes both poker play and trading an exciting profession to do.
　　It is important to understand that skills are not only physical but are mental as well. Both poker and trading require a high level of mental skill. In both, being patient is the key. Waiting for the right card and waiting for the right trade is very important. Knowing when you are on the losing side is key as well. In poker, you look at your cards and the ones on the table and should know the right time to fold before you are forced to risk too much on a losing hand. Likewise, when you know that you are on a losing trade, it is important to cut the loss rather than risking more and more on a losing trade.
How Do They Complement Each Other
　　Timing is key in both poker and trading. While in trading, it is important to wait for the right trade, in poker it is important that you wait for the right combination of cards so that you do not fold too soon or too late. You also learn risk management in trading and poker as it is important for you to know how much you should risk on each trade just as how much you can risk on each hand in poker. The lesser you risk, the more trades and hands that you are in and the better are your chances of success. But when you know that the trade or your hand is good, you take a lot of risk to maximize the profit.
　　Moreover, while in trading you use various tools such as technical and fundamental analysis, a good poker player will use cards statistics to get advantage over other players.
　　And just as you wait for the table cards to be laid down in poker before you decide how your hand is and how much you should risk, it is always important to see what the market is telling you and adjust the risk accordingly. So, as is evident, some of the basic skills are very similar in both poker and trading as well.
Poker Skills in the Trading Industry
　　Thats why we have seen that some trading firms are showing an increasing inclination to recruit good poker players on their trading team as they are likely to do well as far as risk management and other aspects of trading are concerned. Poker also involves very quick decision making capacity and it is exactly these kinds of qualities that are needed at the trading desk as well. We have been seeing that some of the Wall Street firms have started looking at poker skills as an important skill that would be a plus for any trader that is recruited. Of course, this is not the only skill that the firms look for but being a good poker player is definitely up there as one of the most desired skills for being on the trading team.
　　A shining example of such a poker player making it to the higher echelons of top trading teams is seen in the case of Chris Fargis who was offered a position in Toro trading mainly for his poker skills. He did not have any major management degree but was known to be a very good poker player. But in the trading industry which involves millions of dollars and needs people with quick thinking and good risk management skills, poker players are likely to be among the best candidates for the job.
　　Some trading firms also make it a mandatory part of their skills training for their existing traders highlighting the connection between poker and trading and how the skills in one can be used to complement the skills in the other field