What is the Best Time of Day to Trade Forex Markets with HotForex
The Forex market is a specific financial market that trades over-the-counter. This means that there is no centralised exchange involved in the settlement of Forex transactions, like in the case of the stock market, and Forex market participants trade more or less directly with each other. There are certain benefits with over-the-counter markets such as Forex, including the ability to trade around the clock as the market doesn’t depend on the open market hours of a centralised exchange.
Trading strategy ‘HHLL’: just follow price action
This article will describe a strategy called HHLL. You might have seen similar strategies with other names as this one is based on classic forex principles. The great part of it is that you dont need to use any indicators. The main point is to follow the price action. However, some indicators still can be helpful for better visualization. Besides, feel free to add anything you want to this strategy, personalize it to your liking! By the end, you can even come up with a new, your own strategy, which suits your trading approach and vision.
All you should know about retracement
This article will introduce one of the most powerful market concepts retracement and show how to operate it at full potential. Retracement is a temporary price movement against the established trend. Why is it so important for a trader? Retracement levels are ideal for defining where to enter the market safely and place a Stop Loss order to minimize possible risks. Seems to be really useful, right? Lets find out together!
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Pros and Cons of technical analysis and indicators
Forex trading - an ecosystem of multiple brokers, traders, and all the information flow in between - exists due to one motivation: earning money. The crucial thing to earn is to predict market moves correctly. Here lies the cornerstone question: is there any way to be always correct in predicting the market? The answer is no, as this question is semantically the same as predicting the future. No one can do it, although at times some claim to have invented an almost 100% reliable instrument to foresee what happens next. However, some approaches and methodologies have already proved to be a relatively reliable source of correct predictions. Technical analysis and its indicators are certainly one of them. Lets have a broader look at it to understand what may be the most effective way to use it.
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