User Rating: 0 / 5

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive

Any trading order must be adapted not only to individual goals & strategies but also to the current market conditions.

ONLINE FOREX TRADING ORDERS

Placing the appropriate trading is essential for all Forex Traders. The placement of any trading order must adapt not only individual goals & strategies but also to the current market conditions.

 

Volatile market conditions, for example, require the placement of wide orders and the implementation of scaled positioning. Furthermore, the placement of any order must be in absolute accordance with the rate of Capital Leverage used. For example, when a wide stop-loss order is placed in a volatile market, it shouldn’t be combined with high capital leverage.

By summarizing all the above here are the major factors affecting order placement:

◙ Individual Goals and Strategies

◙ Desired Exposure to Risk

◙ Desired Profit / Loss Ratio

◙ General Market Conditions (Volatile, Trending, Ranging Markets)

◙ Technical Analysis (Support / Resistance, Trendlines, Pivot Points)

◙ Capital Leverage

Forex Trading Order Types

These are the most important Forex Trading Orders including Market Orders, Good-Till-Canceled orders, Good for the Day order, One-Cancels-the-Other order, Stop-Loss order, Trailing Stop order and Take-Profit order.

User Rating: 5 / 5

Star ActiveStar ActiveStar ActiveStar ActiveStar Active

Get Started at WebForex.net

 

The Name of the game is to protect your capital and to profit from any currency inefficiencies. Trading the Forex market is certainly not easy and it requires a maximum degree of understanding and discipline.

Introduction to Foreign Exchange

Foreign Exchange or Forex or Fx refers to a financial market where currencies are traded one for another. Forex is a huge global market with 4-5 trillion USD turnover in a daily basis. The world's largest Forex trading centers are London, New York, Singapore, and Tokyo.

Participants in the Global Forex Market

There are various players in the Forex market, from banks and institutional investors to interest-rate speculators and intraday traders.

Here are some categories from those executing regular transactions in the global Foreign Exchange Market:

(1) Central Banks, Commercial Banks, and Investment Banks

(2) Large Retail Companies (Importers/Exporters)

(3) Forex Brokers (ECN and STP Brokers)

(4) Institutional, Private, and Individual Investors

(5) Retail Traders

(6) Tourists and other Travelers

User Rating: 5 / 5

Star ActiveStar ActiveStar ActiveStar ActiveStar Active

Intraday Forex Strategy -Forex Price Action

Introduction to Forex Price Action

Price Action refers to a simple trading practice that allows traders to analyze any financial market without using indicators.

Introduction to Forex Price Action

Understanding price action is a key issue when trading Forex Intraday. There is a great variety of methods and tools available for traders seeking to interpret the daily price action. These tools include the Elliot waves, candlesticks, pattern recognition (trend lines, major support and resistance levels) and etc.

Definition -What is Forex Price Action?

Price Action is a trading method that reflects the flow of executed orders within a specific time frame. You may evaluate Price Action via empirical methods but the most reliable way is the use of technical analysis. What really distinguishes trading using Price Action compared to other intraday strategies is the use of naked charts with candlesticks and without any indicators or oscillators.

Price Action and The Simple Use of Candlesticks

A candle is formed by (i) a closing price, (ii) an opening price, and (iii) two price wicks.

  • The two price wicks reflect high and low prices within the selected time frame (for example 1 minute chart).
  • The body of its candle is determined by the distance between the closing and opening prices and therefore a candle may be bullish or bearish.

Price action should be interpreted according to the current trading conditions of each Forex market.

 

MT4 Trade Signals Generator

 

User Rating: 0 / 5

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive

Foreign Exchange Currency Symbols

 

A currency symbol is a graphic symbol of a currency's name. A currency symbol is used to denote that a number reflects a monetary value.

 

What is the ISO 4217 Standard?

ISO 4217 by the 'International Organization for Standardization' is a standard started in 1978, which includes currency codes (alpha codes and numeric codes). The ISO 4217 list is widely used in banking and business in a global scale.

Table: Popular Forex Currencies, along with ISO codes, and Symbols.

Forex Currency

ISO CODE

Currency Symbol

Argentine Peso

ARS

$

Australian Dollar

AUD

$

Bahraini Dinar

BHD

n/a

Barbadian Dollar

BBD

$

Brazilian Real

BRL

R$

British Pound

GBP

£

Canadian Dollar

CAD

$

Central African CFA franc

XAF

n/a

Chilean Peso

CLP

$

Chinese Yuan

CNY

Czech Koruna

CZK

Danish Krone

DKK

kr

East Caribbean Dollar

XCD

$

Egyptian Pound

EGP

£

Estonian Kroon

EEK

kr

Euro

EUR

Hong Kong Dollar

HKD

Hungarian Forint

HUF

Ft

Icelandic Krona

ISK

kr

Indian Rupee

INR

Indonesian Rupiah

IDR

Rp

Israeli Sheqel

ILS

Jamaican Dollar

JMD

J$

Japanese Yen

JPY

¥

Jordanian Dinar

JOD

n/a

Kenyan Shilling

KES

n/a

Latvian Lats

LVL

Ls

Lebanese Pound

LBP

£

Lithuanian Litas

LTL

Lt

Malaysian Ringgit

MYR

RM

Mexican Peso

MXN

$

Moroccan Dirham

MAD

n/a

Namibian Dollar

NAD

$

Nepalese Rupee

NPR

New Zealand Dollar

NZD

$

Norwegian Krone

NOK

kr

Omani Rial

OMR

Pakistani Rupee

PKR

Panamanian Balboa

PAB

B/.

Philippine Peso

PHP

Ph

Polish Zloty

PLN

Qatari Riyal

QAR

Romanian Leu

RON

le

Russian Rouble

RUB

ру,;

Saudi Riyal

SAR

Singapore Dollar

SGD

$

South African Rand

ZAR

R

South Korean Won

KRW

Sri Lankan Rupee

LKR

Swedish Krona

SEK

kr

Swiss Franc

CHF

CHF

Thai Baht

THB

฿

Turkish Lira

TRY

YTL

United Arab Emirates Dirham

AED

n/a

US Dollar

USD

$

Venezuelan bolivar

VEF

Bs

West African Franc

XOF

n/a

PRECIOUS METALS

 

 

GOLD

XAU

Numeric 959

PALLADIUM

XPD

Numeric 964

PLATINUM

XPT

Numeric 962

SILVER

XAG

Numeric 961

 

 

Download all currency codes: https://www.currency-iso.org/en/home/tables/table-a1.html

 

Forex Currency Symbols

WebForex.net