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.

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BetOnMarkets - Bet On Markets

Spread betting at BetOnMarkets and other leading betting firms is an increasingly popular form of investment for traders in the UK. This is because of the tax free status that betting receives in Britain. With this increase in popularity comes an influx of inexperienced spread bettors and it’s for all of you newbies that we’ve written this Dos and Don’ts of Spread Betting guide, which offers common sense advice that should steer you on the right track.

Spread betting can be a lucrative way to profit from your investments but, as profitable as spread betting can be, it can be equally as expensive when things go wrong and you can lose a huge amount of money in seconds! Therefore, you should take heed of the following tips for successful betting.

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Etoro

Forex trading can seem like a lonely life, when your trades aren’t going as you’d like them to and everybody else seems to be making all of the right moves at just the right time. Wouldn’t it be nice if you could connect with the best Forex traders, being able to see what they do, ask them questions and copy their trades? Well, that’s exactly what Forex traders can do at eToro, thanks to the revolutionary OpenBook.

OpenBook from eToro allows you to make connections and associations with all other traders using the service. You can see who the most successful traders are, you can watch them open and close positions and, most importantly, you can copy their trades and share in their profits…and losses.

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BetOnMarkets - Bet On Markets

Spread betting can be a lucrative investment opportunity if you know how the markets work and you have a sound understanding of all of the factors involved in placing bets on particular markets. But how do you get this ‘sound understanding’? Where can you begin to learn what makes the markets tick? A good place to start would be the daily reports at BetOnMarkets.

Professional trader, Dave Evans is somewhat of a financial market guru, with years of trading and betting experience and now, leading spread betting firm BetOnMarkets have procured the services of Dave to deliver daily reports covering all of the important market news and trading signals and the best thing about these daily reports is that they are totally free of charge.

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Etoro

Each and every day more and more new Forex traders hit the virtual trading floors at sites such as eToro but very often these new traders don’t really know what they’re doing and they often end up losing money. That’s why we’ve compiled this simple online Forex trading startup guide, which offers simple, common sense advice to get you on your way.

First and foremost you must understand the basic mechanics of currency pairs and Forex markets. eToro offers a huge wealth of useful information that will offer you a great insight into the world of Forex trading with various guides and pages including the eToropedia, which teaches you all you could want to know about the fundamental processes involved in trading Forex.

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Etoro

The world of Forex trading is vast and wide, with many, many currency pairs to speculate the futures of. Some online Forex sites such as eToro have dozens of currency pairs to trade, some even more! With all of this choice, a question you should ask yourself is “How many currency pairs should I trade?” This question has no definitive answer that fits everybody. However, one portion of the answer is simple – “As few as you have to.”

You may think that trading numerous currency pairs will offer you more opportunities to profit…and you would be right. However, with these additional profit opportunities come an equal number of chances to lose money.

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Etoro

No matter which online Forex broker you use, whether it’s HY Markets, AVAFX or eToro, many of your fellow traders will be basing many of their decisions to open and close trades on Forex signals. ‘What exactly are Forex signals?’ I hear you say. Simply put, they’re calculations made by experienced individual and corporate traders that specify a number of prices, limits and values regarding a currency pair, offering the best prices to open and close trades, in theory. ‘Why should I use Forex signals?’ This is a common question posed by many ‘a new trader but a conundrum not so often queried by seasoned vets of the virtual Forex trading floors online.

Successful producers of Forex signals will have a proven track record of making the right calls and they will have many followers who employ their strategies to good effect. Likewise, poor performances will be highlighted. However, any fool can make a lucky trade. In fact, ‘beginners’ luck’ has carried new online Forex traders some distance before they have returned to terra firma with a bump. But the successful producer of Forex signals will have years of long term profit behind them, taking losses, but out weighing them with bigger profits.

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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.

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Etoro

Online Forex trading at sites such as eToro 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.

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HY Markets

It is well known and well documented that the price of the US dollar directly affects the price of gold because gold is traded in dollars. Therefore, if the value of the dollar rises the price of gold naturally decreases and vice versa. However, a less well known trait is crude oil’s effect on currency pairs, as seen by traders at HY Markets and other online Forex brokers.

Crude oil’s effect on currency pairs isn’t direct. Due to the fact the some nations are ‘oil exporting’ nations, while others are ‘oil importing’ nations, a rise or fall in the price of crude oil will directly affect many nations. The economies of oil exporting nations will be boosted by a rise in the price of crude oil, while oil imports will suffer. The reverse effect would take place if the price of crude oil fell. For example, Canada is the ninth largest oil producing nation in the world, whereas Japan imports 99% of the oil that it consumes. So, if the price of crude oil went up you could expect this to boost Canada’s economy, while stifling Japan’s.

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