Istock Dice
Online trading can be a tricky thing to get right, more so for new traders. One of the biggest problems that online traders face is knowing when to close a position. Closing a position requires decisive and confident decision making skills. The last thing you want to creep into your mind is superstition or gut feelings. You can retain profits effectively without missing out on future gains and reduce losses by simply knowing the best time to close your positions.

Whether you’re trading Forex, commodities, indices or stocks and shares, closing at the right time is vital for your quest to maximise your profits. Many traders, especially new kids on the block, tend to hang on to profitable positions for too long, getting worked up in the excitement of the markets going their way but before they know it, the market has swung, their greed has gotten the better of them and the profits have vanished.

Read more

Etoro

The British pound finished the week with a flourish, making gains against other popularly traded currencies such as the euro and the US dollar. At eToro (your capital is at risk) and other leading trading sites, Forex traders saw the British pound soar, following the news that the Bank of England was to keep the base level interest rate unchanged.

There were a number of factors that contributed to the pound’s high-flying finish to the week’s trading sessions, many of which surrounded the Bank of England’s monetary policy meeting on Thursday. After the meeting, incoming Bank of England Governor, Mark Carney did sterling no harm by saying that the current position of the bank’s policy may be just what the UK economy needs.

Read more

HY Markets

Due to the massive explosion of retail Forex traders since the rise in popularity of online trading sites such as HY Markets, a number of observers from other trading industries have started looking down on retail Forex traders as two bit gamblers and maybe this is true in a small number of instances but, as a whole, successful Forex trading is risk management not gambling.

With the exception of gamblers who have control over the outcome of their bets, such as poker players, gambling is a game of chance, which usually has odds stacked in favour of the house. And, as a rule, a rookie player at a casino has the same likelihood of winning as the experienced players. However, in stark contrast, experienced Forex traders at HY Markets and other online broker sites normally make much greater returns and much smaller losses then new Forex traders. This is due to their experience in risk management.

Read more

AvaFX

This morning online Forex traders at AVAFX saw the US dollar strengthened by low unemployment figures, as the Greenback made gains against most of its major counterparts. On the day the US unemployment numbers reached a five-year low, the dollar saw bullish movement before a poor US manufacturing indicator restricted further growth for the dollar.

The GBP/USD currency pair dropped 75 pips during the London trading session, reaching a low of 1.5954 before recovering to 1.5980. The dollar also made headway against the Swiss franc, with the USD/CHF currency pair climbing by over 50 pips during the London trading session. However, later today the US Preliminary UoM Consumer Sentiment figures are released, which, if lower than expected, could well undo all of the dollar’s progress in an afternoon. Keep one eye on the economic news bulletins for those figures, as you will need to make those trades quickly if you’re to try and beat the field to the best prices.

Read more

HY Markets

Online Forex traders at HY Markets and other internet trading sites saw the US dollar lose ground against over a dozen other currencies during Tuesday’s trading sessions. It came as no surprise to many when the US dollar slid, ahead of the Federal Reserve meeting that’s scheduled for later this afternoon.

Many market analysts believe that the Fed will continue with their easing strategy and they are expected to announce an expansion to their asset purchasing plan, which will almost certainly weaken the greenback against its international counterparts. The anticipation of such announcements from the Federal Reserve has led many Forex traders to start selling the dollar, which has had the usual knock-on effect to its value.

Read more

Etoro

Online Forex trading at sites such as eToro (your capital is at risk) is becoming more and more popular by the day, with casual gamblers from the spread betting sites and online casinos, gamblers that are simply looking for another opportunity, finding their way onto the virtual trading floors. So, we thought we’d put together some start up advice for new traders, in a bid to guide all of you newbies in the right direction.

  • First and foremost is to forget your instincts and rely on the facts. When choosing black or red on a roulette table or when betting on punto or banco at the baccarat table, you have no control over and very little insight into the outcome of the bet. However, when trading Forex online, the currency pairs that you’re ‘betting’ on have very real influences that affect their prices. Smart traders will use these facts to establish trends, whereas the casino gambler will simply take a punt, a tactic that could become very expensive. You will find a number of news feeds and analysis pages in eToro’s community section that will offer informative facts and figures.

Read more

AvaFX

Right now, the USA is counting the votes for the 2012 United States Presidential Election, which is being battled out by President Obama and Republican Mitt Romney but this massive event hasn’t slowed trading of the US dollar down at the world’s various Forex markets or harmed the greenback’s value. In fact, online Forex traders at AVAFX actually just saw the US dollar climbing as the votes are counted in the election, and with plenty of trading activity taking place too, as news that Romney may be ahead made it to the headlines and encouraged the buying of dollars.

At the time of writing this article, Bloomberg were scoring Romney ahead of Obama 21-3, which many analysts and traders believe will destabilise the dollar to a degree, possibly seeing it fall against many of its counterparts such as the Australian dollar, the British pound and the euro. However, if Obama retains office, it is widely speculated that the dollar will be boosted thanks to the belief that the President will continue with his support of bonds and track record of keeping interest rates low.

Read more

Etoro

As one of the most ferocious hurricanes ever to hit New York landed, millions of US citizens have been left without power, 15,000 flights have been cancelled, at least 40 people have lost their lives, an estimated $40-50 billion is needed to clear up the destruction that Hurricane Sandy has left in its wake and, this giant storm has caused the closing of the New York Stock Exchange for two days straight – the first time since 1888! Unsurprisingly, nobody is shocked to hear that the closing of the New York Stock Exchange slowed trading both on the world’s trading floors and at leading online Forex brokers such as eToro (your capital is at risk).

It’s not just the New York Stock Exchange that has been forced to close for two days following the devastation left behind by Hurricane Sandy. The NASDAQ also closed operations and it will also be out of action until Wednesday, just like the NYSE. Traders at eToro and other leading online Forex brokers witnessed many currency pairs becoming stagnant thanks to the closing of the NASDAQ and the New York Stock Exchange.

Read more

AvaFX

If you use automated Forex trading software to deliver the best return on your investments, then one of the internet’s leading brokers has a fantastic new facility that may interest you. The new Mirror Trader Forex trading platform from AVAFX is a powerful tool that allows you three control options; Auto, Semi and Manual, which is versatile and easy to use.

By using automated trading at AVAFX, you will benefit from the expertise of hundreds of Forex trading strategists, as well as having total convenience, thanks to the ‘automated’ part of this great trading method. Mirror Trader from AVAFX can be used to offer fully automated trading, opening and closing positions while you’re away from your computer, even when you’re logged out and your machine is off!

Read more

Etoro

When many new Forex traders first hit the virtual trading floors they are full of confidence and they have often already spent the profits they anticipate making that day in their heads on mansions and yachts. However, trading Forex at sites like eToro (your capital is at risk) is a skill that requires experience, the right mental attitude and strong discipline. There is very rarely quick and easy money on offer, you have to work for it, which is where the three golden rules for new Forex traders come in.

  • ONE – Understand what you’re doing: Many new online Forex traders have barely grasped the concept of markets and their movements before they are throwing big chunks of money at risky trades due to inexperience. Study other traders, which can be done with great effect using the CopyTrader at eToro (your capital is at risk). Utilise the free practice account available that they offer too.

Read more