Trade Forex Trading

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When Not to Trade Forex

There are times when you should not trade Forex because at this times the Forex market becomes illiquid an unpredictable. Illiquid means there are fewer traders compared to other regular times. The times not to trade the foreign exchange market are:


  • News Time

Scheduled economic data is released throughout many times of the month. These can be found, in advance on a Forex Calendar

 

There are 3 categories of news; yellow, orange and red, each category having a different impact. High impact fundamental news can really move the prices, sometimes causing a spike in both directions, before moving towards one direction. These are high risk times where a lot of people get stopped out.

 

However, it is not just the announcements themselves that can affect the market. The sentiments and predictions of what the numbers will be can cause the prices to move in anticipation. It is therefore not a good idea to trade during news hours.

 

How to Trade News - News Trading Strategy Tutorial

 

Some major economic news like the NFP and Interest Rates decision can cause extreme volatility which is extremely hard to trade and can cause extreme movements in Forex markets within seconds.

 

Economic data can cause a lot of speculation and therefore a lot of price movement.

 

  • Weekends

A lot can happen over the weekend leading to the market opening with a large gap. This can cause a big difference in your Forex account.

 

  • Market closing times- NY closing

At the close time a number of trading positions are being closed or being swapped. This will lead to volatility in the currency prices and can cause the price to move erratically.

 

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Takes 4 to 6 weeks to open an account, open early: Read The Article "Account Opening Procedure"

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  • Asian Market

During the Asian session volumes are very low and the market move in a trading range of about 20 to 30 pips and it becomes very hard to trade because the prices falls flat. Unless you are trading JPY and AUD currency pairs it is best not to trade at this time.

 

  • Holidays

Do not transact during Holidays. This is because the Banks are closed and therefore less participants in the Forex market. If banks close for a holiday then the volume of transactions carried out is greatly reduced. This can lead to low volatility.

 

Holidays like Christmas and new year traders should not trade on these days and should take time off during this week of Christmas up to new year, date 2 when banks resume their operations. An Economic Calendar will include a schedule of bank holidays and traders can keep updated: Example of a Financial Economic Calendar.

Up To $6.67 Dollars Bonus for Every Lot Traded Get Up To $6.67 For Every Lot Traded

Market Outlook: Very Bullish for EURUSD, and EURJPY - Also for GBPUSD, GBPJPY, and AUDUSD (No Need For Technical Analysis - This is Risk Appetite -Risk Averse Speculation).

Do Not Be Left by This Opportunity: Open an account and start buying Euros and position yourself early - Risk appetite speculation has already started. - Others are already profiting - Read the article How to Fast Track Account Opening and Open an account now.

Strategy: Buy the retracements and use 1 Hour and M15 Charts to look for best entry and exit points - Also checkout Money Management Rules.

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European Forex Broker XM is Licensed and Regulated in 12 Countries; 10 European Countries, Australia and UK

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Should you open an XM Account this is exactly how it looks like:

Forex Account Secure Clients' Area - Trader Cabinet

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Bonus Points

Forex Trading Accounts Members Area - Withdraw and Deposit Options

Real Forex Trading Account Withdraw and Deposit Options

XMP Forex Loyalty Bonus Program

Silver and Gold Online Trading

CFDs Trading and Forex Trading

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Bonus Points

Forex Account Types

Micro Account - To open Micro Forex account, $100 minimum balance, 1.7 pips spread on majors, Leverage 1:500

For this account you can trade Micro lots as well as Nano lots and Pico lots. Traders looking for micro Forex brokers or micro lot Forex brokers can open this account.

Mini Account - To open Mini Forex account, $1,000 minimum balance, 1.7 pips spread on majors, Leverage 1:200. Traders looking for mini Forex brokers or mini lot Forex brokers can open this account

Standard Account - To open Standard Forex account, $10,000 minimum balance, 1.7 pips spread on majors, Leverage 1:100

As a note, you can also trade mini lots on the standard account, just select 0.1 Lots instead of the full lot - 1 lot.

Executive Account - To open Executive Forex account, $100,000 minimum balance, 1.7 pips spread on majors, Leverage 1:100

As a note, you can also trade mini lots on the executive account, just select 0.1 Lots instead of the full lot - 1 lot.

XM Zero Account - This account provides spreads as low as 0.1 for traders looking for a low spread Forex broker. (For this account there is an additional commission of $10 per lot on top of the spreads). This account is suited for high frequency traders such as scalpers and EA traders looking to save on the spreads. This is the account for high frequency EA automated trading strategies and traders who look for less than 1 pip forex broker. However, note there is the additional $10 fee commission per lot.


Islamic Forex Accounts

Islamic accounts are swap free, meaning there is no paying/receiving of interest. This account is suited for traders looking for Islamic Forex brokers.

Deposit/Withdraw Funds

Clients have a secure members area on their website once they have opened an account, in this client area or cabinet you can deposit/withdraw your money at any time. By clicking my account and then clicking deposit button then fill the details, for withdraw just click my account and then the withdraw button. Withdraw Requests are also processed on the same business day and receipt of funds is issued within the same day making XM the most reliable Forex broker online.

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