Author: Editorial Team

ForexPromos Editorial Team is comprised of a selection of hand picked editors that bring you the latest breaking news from the financial markets. We also provide forex educative articles as well as comprehensive fx broker reviews.
How to use Economic Data in forex trading

How to use Economic Data in forex trading

Financial Markets Explained
In this article we explain how to use economic data in forex trading. The following indicators in forex are beneficial to a more profitable trading in forex. We take a look at some of the economic data that can be used as indicators in forex. Remember that economic indicators usually contain revisions to previous data sets. So although the importance of figures lies in the extent to which they fall outside market expectations, be aware that an unexpected rise could be the result of a downward revision to the previous month. So look at revisions to older data before you use this as a basis for making a trade. Consumer Confidence Index (CCI) This is published on a monthly basis in the USA and is seen as one of the most accurate indicators of confidence. When consumers are more confide...
Who are forex market participants

Who are forex market participants

Trading Articles
Unlike a stock market, the foreign exchange market is divided into levels of access known as forex market participants. At the top is the inter-bank market, which is made up of the largest commercial banks and securities dealers. Within the inter-bank market, spreads, which are the difference between the bid and ask prices, are razor sharp and not known to players outside the inner circle. All these together form the forex market participants. The difference between the bid and ask prices widens (for example from 0-1 pip to 1-2 pips for a currencies such as the EUR) as you go down the levels of access. This is due to volume. If a trader can guarantee large numbers of transactions for large amounts, they can demand a smaller difference between the bid and ask price, which is referred to ...

Forex Trading: A Disciplined Approach Means Treating It Like a Business

Trading Articles
Achieving success in the complex world of currency trading can be a daunting task. Newcomers to the genre are frequently discouraged by the apparent length of time that must be invested in acquiring knowledge and free demo experience before active trading with real money can commence. Forex trading is high risk under high stress conditions. Specialized training is a must, but many beginners stumble early on in their learning process due more to psychological factors than most anything else. Next to knowledge and experience, controlling one's emotions is paramount. Studies in trading psychology have continually confirmed that our minds can become our worst enemy, especially when the conditions involve real money and high stress, as with forex trading. Even Warren Buffett, who most likely...

Understanding market orders and limit orders

Trading Articles
Why understanding of market orders and limit orders is crutial for trading? A limit order gives you price while a market order gives you speed. You can enter a trade with a limit order or a market order. When developing your trading system, two things you need to consider are the time it takes to enter the market and also how slippage, that is the price you are filled at vs the price you wanted, will affect your trade. This should be part of your money management plan. By defining how you will enter the stock market, you will know before you buy if you are decreasing or increasing your risk level. What are Market Orders A market order is an order to buy or sell a stock at the best available price.  Generally, this type of order will be executed immediately.  However, the price at whi

Can Gold continue to rise?

Trading Articles
How can you profit on Gold trading? Oil prices strengthened again after last week's retreat as tensions in Libya and other countries in the Arab world continued. The front month WTI crude oil contract rose above 103 for the first time in 6 days. Corresponding Brent crude oil contract also recovered. The IEA said that unrest in Libya is beginning to impact European oil supplies and they expect the situation could worsen if violence persists and the demand from Europe should improve through February and March. Hopes that the fighting in Libya subsided after Venezuela's peace offer failed as rebels rejected the plan. Fighting continued in capital Tripoli and other places in the country. At the same time, The International Criminal Court said they suspect Libyan leader Qaddafi and his so...