Foreign 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 is not geographically tied; in fact it is...
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 sessions are as follows: – Better Execution: Do...
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 decisions when you are trading with real money because...
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. It would not have made the most interesting film...
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 advice will always be the same. Invest the time to...
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 information on his trading activities, giving...
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