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The Foreign Exchange Market is the market where currencies are being traded. The Forex is known for being the most market in the world with over 5 trillion dollars being traded each day. That is one of the key reasons so many trader are being drawn into this market (that and the leverage that the brokers offer) and one of its biggest advantages over other derivatives markets.
The Forex market is open almost 24/7 (excluding weekends and holidays) and traders from all over the world are trading 3 different trading sessions – Asian, European and the U.S (the most liquid trading session).
Trading Forex means that you are trading the weakness\strength of one currency against the other – That is why the underlines in the Forex market are shown as currencies pairs (Like EUR/USD – Euro Vs. the U.S Dollar).
The key players of the Forex Market are central banks, banks, Hedge funds and corporations that hedge their businesses with foreign currencies.
The liquidity of the Forex market makes more technical (it reacts to technical patterns and levels), that is why it is appealing to technical traders. Unlike stocks that tend to trend, currencies are more volatile and therefore create much more technical opportunities that can be exploited by experienced technical traders.
The price movements in the Forex Market are measured in Pips (read more below) – The amount of pips that a Forex pair moves and the size of the leverage will determine the profit\loss of each trade.
The most highly traded currencies pairs are EURUSD (Euro Vs. U.S Dollar), GBPUSD (Great Britain Pound Vs. U.S Dollar) and USDJPY (U.S Dollar Vs. Japanese Yen).
The main difference between trading Forex and Stocks is the limited alternatives that you have in the Forex Market. Although many brokers started to add Indices, commodities and even stocks as CFDs, the alternatives are far smaller than the thousands of stocks that you can choose from in the stock markets.
However, the biggest advantage of the Forex Market is its liquidity. While stocks can hit a period of shrinking volume and activity (like recently seen during June-August 2016) the Forex Market tends to create much more frequent moves and thanks to the leverage offered to Forex Traders (up to 1:500) even small intraday moves can generate income (that obviously come with a risk).
Another big advantage of the Forex Market over Stocks trading is the opportunity to profit from rises and decline of the underlines. Short selling in Forex is as simple as clicking your mouse button while in stocks it requires margin and high commissions.
The Price Zones is a trading strategy that I developed for myself after testing multiple trading methods (such as Price Action, Fibonacci trading, Harmonics, Candlesticks and Indicators trading) and implementing them into one integrated system.
A Price Zone is a range in which the price of the underline generates one or multiple Buy/Sell signals. A Price Zone that includes several bearish signals in it is a potential Sell Zone and a Price Zone that includes several bullish signals is a potential Buy Zone.
By incorporating successful trading techniques such as Harmonic Trading, Price Action, Fibonacci and others into one trading strategy I got higher accuracy (more than 65% winners) and higher reliability. You can see how I’m using different Price Zones each week by signing up to one of my services.
Price Action is the movement of an underline’s price – The Price Action method, similar to Candlesticks, suggests that the candle formation (high, low and body) is enough to understand the balance between Sellers and Buyers. Add to that trend, support and resistance lines and that’s all you need to know in order to trade Price Action.
Price Action (the art of “naked chart” trading – read more here) has become highly popular over the last few years because if its simplicity.
Harmonic Trading is a trading method that was developed by Scott Carney (www.harmonictrader.com) and it uses harmonic price movements and Fibonacci ratios to create reversal patterns that proved to be highly accurate.
Harmonic Trading assumes that the most financial assets generate harmonic price waves (equal distant moves or ones that have certain ratios between them – using Fibonacci ratios). These harmonic moves often create patterns that through empirical analysis were proven to generate a certain outcome with high accuracy rate.
Another advantage of such harmonic patterns is that they provide clear trading rules one can use to determine stop loss levels, targets and calculate potential R/R – This is one of the main reasons why these patterns have become highly popular among algos traders.
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