With our fingers on the pulse of the global markets, in this blog we offer commentary, news and reviews from our in-house traders and trainers regarding the markets and the events that influence them.
Why you can’t read a textbook and beat the banker
Recently I have been connecting to a number of different traders on social media platforms. I find it very interesting to find out how and why people became involved in trading (especially in the ForEx market) and how they set about educating themselves about the market. A common theme amongst those that I have asked is research and reading up on the industry. I agree that this is a great way to gain knowledge on the industry and to get an insight into the world of trading. It is always essential to understand the theory behind a skill but it...
read morePeople don’t succeed because they don’t ask
A common issue that I have found, not only in trading but also in many different aspects of business and in general day-to-day life, is that people refuse to ask questions. I believe that people view asking questions as a weakness and there’s a certain amount of pride that would be negotiated by asking these questions. Personally I think it’s a shame that so many people are unwilling to ask for help. There’s a few sayings that spring to mind such as ‘if you don’t ask you don’t get’ and ‘there’s no harm in asking’. When you look back to our...
read moreForeign Exchange vs Stock Exchange
When you are looking to begin your journey as a trader the first important decision you will make is the market that you want to trade in – the foreign exchange market or the stock exchange market. Having traded in both, ForEx is my personal preference due to its liquidity and how much quicker the market moves in comparison to the stock exchange market. One of the main differences between the two is where they are traded. The stock exchange market has a fixed location such as the London Stock Exchange whereas the foreign exchange market...
read moreForex London Network
Profit and Loss are a company that specialise in financial markets and business and technology information. They also hold forex events throughout the world and there just so happens to be one in London later this month. Personally, I thoroughly enjoy going to events such as these. Hearing expert opinions while meeting other traders from the Forex London Network is a great way to spend the day. On Wednesday 23rd April 2014 Profit and Loss have secured some fantastic speakers and a great variety of subjects for them to speak about. The...
read moreDemo Accounts
Are you learning to trade? Demo accounts are a great way to get a feel for the way that the system works but my advice to you would be to limit the period of time that you use the account for. I would personally advise that you only use the account for roughly a month. Of course if you are not feeling confident by all means continue using the demo account, however it’s important to be aware that when you trade in the market it will feel completely different. There are a lot of different factors that will start to influence your...
read moreThe Wolf of Wall Street
The Wolf of Wall Street was one of the years most highly anticipated films and has been nominated for 5 Oscars as well as 2 Golden Globes and 4 BAFTAs. It really is a great story but what many people are struggling to get their head around is the truth behind it. The film was adapted from Jordan Belfort’s tell-all (or as much as he wants to reveal) book. Now while I can appreciate the entertainment value I can’t help but feel that the film portrays trading (albeit stocks rather than ForEx) to be a much easier profession than it is in reality....
read moreKiwi in Flight
It’s been a long time coming. Of the major currencies commonly traded, there have been no interest rate increases since 2010 when Australia last increased its overnight rates. Australian rates didn’t last long at those levels and were reduced in stages soon afterwards, matching the other major economies. This time though, things feel different. On Wednesday evening this week, the Reserve Bank of New Zealand announced a rise in interest rates from 2.5% to 2.75% (well, Thursday morning in New Zealand at the time). An interest rate increase in...
read moreInvest the Time
There is a lot of white noise around trading. People seem to think of it as a get rich scheme, whereas the reality of it is quite different. Trading is a skill and like all skills it takes time and effort to develop and learn. Think of the job that you are currently in. Are you good at your job? I’m hoping that the answer is yes! Now think back to your first day at your job, chances are your skill set has developed significantly since then and this is the same as in trading. People ask my advice on forex trading nearly every day and my...
read moreSpring arrived this week
You may have heard that the British spend a lot of time talking about the weather. It’s true. But there is another nation that beats us on this score, the USA. In my view, they spend more time discussing the weather in the USA. They even have a dedicated weather channel on TV. Anyone following the US weather will be aware of their big winter freeze this year with exceptionally low temperatures. In her recent testimony to Congress, even Janet Yellen spoke of the impact of the freezing weather on economic activity in the USA. She mentioned that...
read moreMy 5 Favourite Traders
It’s always interesting to see the trades that other people are making and the advice that they are giving. Here are my 5 favourite traders on Twitter at the moment, please note they are in no particular order. The first is @MWellerFX. Matt Weller is a global market strategist and has been actively trading since 2005. Enthralled by the liquidity and the accessibility of the market, Mr Weller now offers timely updates on a vast range of currency pairs. Follow him now for great guidance. @break_retrace3. Howard Friend also offers...
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