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For Beginners

The best and most useful information for beginners. After reading this section you will learn how to set terminal for trading on the market, meet Forex phrases, and also find out it's secrets. You should pay special attention to the articles related to the questions on correct Forex trading.

Lesson 19: Forex indicators
CategoryFor Beginners

 

Indicators are mathematical models that make reading price charts easier. They serve to determine the degree of volatility and identify efficient market entry/exit points. First off, I’d like to warn you that no indicators can possibly predict future price movements with 100% certainty. Still, they can be used to create trading systemswith a positive mathematical expectation.

Lesson 18: Catching reversal
CategoryFor Beginners

Dear fellows!

Recently, several good non-retracement trends have formed on most trading instruments. And we never follow the road less travelled trying to stand against the trend. As a result, we have to cut quite big losses. Yours truly is not an exception. What else should I do if there are trend-reversal patterns pointing to entries at the very bottom? Besides, there is a psychological factor. Suppose, you’ve missed an entry and the market reverses right at that point! Believe me missed profits feel much worse than cut losses.

Lesson 17: How to draw trend lines correctly
CategoryFor Beginners

It is no secret that trading practitioners, in addition to performing market analysis based on their own strategies, often look through analytical materials published by fellow traders. They do so not because they don’t feel confident about their own approaches but rather to ensure that the process of professional development never stops. Among hundreds of charts, one will always find a new idea that can be turned into a profitable trading system. Oh no, don’t worry, I’m not going to write here about holy grails.   This time, I’d like to talk about trend lines and ways to draw them correctly on a chart. You may ask, “Is there really a way to draw them incorrectly?” Believe it or not, some traders, even those who have spent years trading on Forex, still haven’t learned how to build correct trend lines, though they may believe they have mastered the art.

Lesson 16: Should we put stop loss trading on Forex?
CategoryFor Beginners

Hello, dear friends. In the comment section, I have recently found the following question: “Should we put stop orders in case of a good deposit? Sooner or later, the market will reverse. We only need to wait to close the position. What do you think about it?”

Taking into account a big variety of ambiguous answers, let’s look at this issue from different points of view. Some people suppose that if a trader has a lot of money, it is not necessary to put stop orders because the price will go back and the deal will be closed either in the break even zone or with profit. However, such an approach can be applied only when trading liquid pairs without leverage. In this case, the profit will be very small. That is why it is better to deposit money in a bank at interest.  

Lesson 15: Trend trading
CategoryFor Beginners

Trend-following trading on Forex is considered to be the safest way to make money in the currency market. Before opening a deal, you should determine entry and exit points. To do it correctly, you need broad knowledge and wide trading experience. The first is acquired through corresponding materials, but the second is gained over years. A few months ago, I discovered the Pattern Graphix advisor that enables you to trade on Forex without comprehensive knowledge and skills.

Lesson 14: Choose right leverage
CategoryFor Beginners

At the request of one of the permanent visitors of my blog, today, I will tell you about leverage and how to choose it when trading on Forex.

Let’s start from the definition.

Leverage provided by a forex broker is the biggest possible ratio of the traded volume to the volume of a trader’s own funds.

For example, if you choose the leverage of 1:1, it means that you will use only your funds. In case you prefer the leverage of 1:100, your broker will give you a credit that exceeds your deposit by 100 times. In other words, if you have deposited $100 you can trade using $10,000!

Lesson 13: How to invest in InstaForex PAMM projects without paying commission
CategoryFor Beginners

 

Dear friends, today I’ll tell you a secret how to invest money in a PAMM account without paying any commission to a trader for managing your funds.

 

Let’s assume you’ve invested $1,000 in a PAMM project called “Ivanov ltd”. The managing trader set a commission rate of 20%. After a while, the trader made a $200 profit. After you request a rollover, you will get $160, and $40 (20%) will go to the trader as a reward for successful trading. Of course, you’ll be happy the latter generated some profit. But from time to time, every investor probably catches him- or herself thinking, when ordering a rollover, that they would rather keep the money to themselves instead of paying the trader. 

Lesson 12: PAMM System. History. Pros and Cons
CategoryFor Beginners

When Forex was just starting to gain popularity in post-Soviet states, some retail traders offered money management services to potential investors. The scheme was rather simple. A trader finds an investor, overwhelms him with stories about limitless opportunities of Forex, and if the investor agrees to provide the funding, a trading account is opened in the name of the investor. While the investor remains the holder of the account, all deals are actually conducted by the trader. To some, this type of investment may seem quite transparent: a trader trades, an investor invests, and they share the profits generated by the trader. Unfortunately, the potential benefits of such joint profit making are offset by a number of bitter-reality issues: 

Lesson 11: Obstacles in trading
CategoryFor Beginners

Here are my thoughts about what hinders our trading.

I believe novices as well as experienced traders have three ‘vices’ that hamper their profits.

1. Willing to be in the market

A usual working day of a trader looks like this: they open a platform, look through trading instruments, see no setups in their trading system… and enter the market. After a while, the deal ends with losses and the trader wonders why the hell they entered in the first place.

Lesson 10: How to get stable returns for your forex account
CategoryFor Beginners

 

I’ve noticed many times that analysis of future price behavior upon opening a deal becomes subjective. We unconsciously filter out unfavorable scenarios even if our trading system signals a high win-rate of 70%. The thing is that we start trading our wishes and ignore the signals showing alternative price movement scenario.

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