What Is The Best Forex Trading Platform?To decide on the best platform we took the following consideration into account:
*Functionality: A solid platform must combine cutting-edge technology with a user-friendly interface. The result is a robust, powerful trading suite.
*Latency: In the contemporary forex market, speed is a commodity. Top-tier platforms eliminate unwarranted latencies in the areas of data-streaming and order entry. In doing so, they enhance the efficiency of the entire trading process.
*Advanced Features: Today's forex trader is more dependent than ever on technical analysis . The best trading software should be equipped with a diverse array of tools and indicators, a multitude of charting alternatives and customization options.
*Cost: Trading platforms should be free or affordable.
UK100 trade ideas
How Much Money Do I Need To Trade?Conventional financial wisdom tells us that to make money in the markets, one must first have a small fortune. While this assertion may hold true in real estate or government bonds, forex trading gives individuals of all capitalizations an opportunity to generate consistent profits.
Putting a hard figure on how much money one needs to trade forex is relatively straightforward. It is a function of strategic concerns and expectations, specific to each trader. As long as resources are in line with market-related objectives, success is possible for all account balances, large and small. Remember, you don't need a massive initial deposit to start trading forex. All you need is the three Ds—desire, dedication and discipline!
Ways To Determine Some Of The Best Forex Brokers1. Trading Costs
2. Customer Service
3. Dealing Desk, Or No Dealing Desk
4. Trading Platform
5. Margin
6. Regulation
A variety of choices among forex brokerages has arisen that may make the decision of whom to work with seem daunting. However, if traders follow some basic guidelines in regard to cutting costs and maximising the efficiency and security of their activities, they will be more likely to ensure that their trading will be a positive and profitable experience.
Is Forex Profitable?As the world's largest financial market, the forex attracts millions of participants from around the globe on a daily basis. The result is a highly liquid, diverse trading venue that caters to the needs of retail and institutional investors alike. Whether you're a forex market newcomer or professional, the ultimate goal of active trade is the same: sustain consistent profitability.
So, is it possible to actually make money trading currencies on the forex marketplace? The answer is yes. Although succeeding as a foreign exchange trader is not easy, it is done every day by people from all walks of life. Given the proper resources and understanding of risk management, forex trading can be a profitable endeavor.
Is Forex Trading a Good Career?For anyone interested in beginning a forex trading career, it's important to thoroughly evaluate the advantages and disadvantages listed above. If the cons of forex outweigh the pros for you, then it may be better to search for a more suitable line of work.
However, it is possible that people could build a career in the foreign exchange market. The freedom to conduct forex trading autonomously and remotely is truly life-changing for those up to the challenge. Given adequate risk capital, connectivity and a solid forex brokerage service, it is possible to make a good living trading major, minor, or exotic currency pairs.
So, is forex trading a good career? The answer to that question depends upon one's resources, aptitude and interest. If you have the three Ds―desire, discipline and dedication―then yes, forex trading can be a profitable and gratifying way to make a living.
Advantages And Disadvantages Of LeverageAdvantages
*Enhances Capital Efficiency: In forex, capital efficiency is the comparison of how much money is being risked relative to potential profits. High degrees of leverage help traders maximize the potential of their risk capital and turn minimal investments into substantially larger returns.
*Extraordinary Profits: The greater the applied leverage, the greater the potential profits. Through opening inherently large positions in the market, beneficial moves in pricing can produce extraordinarily positive returns.
Disadvantages
*Risk: Make no mistake—applying leverage exponentially increases the trader's risk exposure. As position sizes grow larger, per PIP values also grow. In the case of sudden volatility , capital drawdowns on heavily leveraged positions may be severe. If margin requirements aren't able to be met due to unrealized losses, margin calls and premature position liquidations are possible.
*Stress: The physical and mental stress associated with trading highly leveraged forex positions can be intense. As leverage is increased, the "stakes" of each trade go up dramatically. Subsequently, trader psychology often changes, with big profits leading to a state of euphoria while sizable losses prompt desperation. When in a euphoric or desperate state, traders are more inclined to make emotional decisions rather than strategic ones.
UK100 Index Sell IdeaThis is going to be a amazing trade.
Details are on the chart but price is making huge lows and huge lower highs and huge lower lows on the hour 4 time frame.
So there is a confirmation to sell.
Can You Trade Forex And Have A Day Job?For many, working a full-time job is a non-negotiable part of life. Sustaining an existence, no matter how meager or lavish, often requires the dedication of most of our waking hours. Expenses such as rent, a mortgage, utilities, food and transportation are obligations that must be satisfied. While there are exceptions, meeting these challenges typically requires securing full-time employment, Monday through Friday.
Regardless of one's chosen profession, working hours typically represent a major portion of our lives. For those who secure employment in the financial markets, the scenario is certainly no different. However, the extent of time spent at work does vary depending upon location, culture and industry.
Therein lies one of the biggest advantages to trading currencies on the forex: flexibility. No matter where one lives, or what one does for a living, it is possible to trade the forex. The only prerequisites to trade on a full or part-time basis is desire, an internet connection, computing power and a broker. If you have these assets, then you can become a forex trader.
Forex Day TradingThe forex market is often viewed as a day trader's dream. Frequent opportunity coupled with the availability of financial leverage are attractive characteristics to anyone interested in pursuing a career as a professional day trader. No matter if one is an intraday scalper, momentum, or breakout trader, the forex market has a suitable currency pair for the endeavor.
Unfortunately, common pitfalls such as overtrading and the improper use of leverage can lead to substantial capital loss. Although the development of a comprehensive trading plan can help mitigate these issues, short-term trading remains a formidable challenge not suitable for everyone. However, through the implementation of strong analytics, as well as prudent risk and money management principles, it is possible to consistently make money trading forex.
Bullish Harmonic Pattern! UK100 / 1HRAcross many EU indices, we are seeing the formation of a bullish harmonic (shark).
Goodluck.
Bullish EngulfingBullish Engulfing on UK100, we keep our LONG position targeting the upperside of the green block. Target is calculated with the fib extension tool.
Stoploss placed below the red block.
Attention: This is not financial advice, we only share our trades on Tradingview and we do not encourage you do take action. Please always do your own analyses.
FTSE ANALYSISTHE Bulls bought strong enough to push the market at higher prices with the bullish channel so its a long swing opportunity for who trade THE FTSE INDEX
Uk100 sell ideaHoping to see a nice rejection from the fib level then hopefully a nice ride down to the last low, hitting areas of resistance from previous lows.
Uk100 Sell Setup Highs and Lows getting lower, Retesting previous low, Bearish Flag and ABCD formation
FTSE 100 - Continuing the slide lowerThe UKX ran above Jan 19 2022 highs only to reject, breaking the Feb 4 2022 low, initiating a market structure shift on the daily timeframe. Price continued to decline with Feb 24 being an extreme down day due to the events transpiring in Ukraine. I am looking for a retrace to 7280 -7360 before price continues to the down-side with Target 1 reaching for 7100, Target 2 reaching for 7000-6950 and the third and final target at 6800.
UK100GBP shortHello traders, according to my graphical analysis of UK100GBP , there is a high probability of a decline towards support level showing on the chart .
thank you for watching the analysis, it will be great when you support it with a like, follow me for more market analysis.
UK100 Golden area of sell Ftse100 is currently retracing after a very big movement to the downside. This retracement can take us up to the golden area of 7145. Here we can sell to push prices back down to the support area of 6900, if broken can take us to areas of 6575-6337.
FTSE 100 (UKX) | The best target for correction🎯Hello traders, FTSE 100 (UKX) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
It should be said that this symbol has entered a new phase and this is a descending phase.
But in the definition of the previous trend, three waves are formed in a zigzag pattern, the last wave of which, the c wave, is explained.
This c-wave formed its leading waves in the form of a channel and in the shape of a triangle, and we said that this structure is completed when the purple trend line and the bottom of our channels are broken down, and this happened.
Now, based on our count, we have formed five waves, which we recognize as wave 1 or wave a, depending on the continuation of the process.
We are now waiting for the correction of this wave, which is confirmed by breaking the trend line and the green circle, and then continues to make a wave as small as the current wave.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
FTSE Down But At SupportLast week we witnessed a 6.78% decline in the FTSE 100 and just a few hours into
this week, price has already declined 2.81%.
The major support of the daily 200 simple moving average failed to hold price up
last week so we must look at further levels of support.
Since May 2021 a low was formed at 6823 and has held strong ever since. There was
an attempt to break this level in July and September 2021, but they both failed.
Price has hit this level this morning and appears to be holding for now.
If there is strong buying at this point, it should be enough to push price back to the
upside, but for now, we just need to stand aside and see which direction price heads next.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Short Term Long! UK100 / 15MForming these small harmonics on lower TFs.
The buying area:
100% retracement (6972)
6959
7000
7040
Goodluck all.
FTSE UpdateI haven't posted for some time but I think this chart may be useful in determining the possibilities of FTSE soon entering a prolonged
bear phase?
Watch for a close below the 200MA to confirm.
Good Luck
UK100 IN decline channelUK100 IN decline channel
We expect the price to pull back to the Supply Zone where we are looking to sell and take profit at the next Demand Zone.
Channel Breakout FTSE 100 (UK100)A well defined bullish channel with many tops and bottoms respecting the channel (confirms that the market is using the channel). Now it has a bearish breakout with a close outside the lower channel (signaling a change in sentiment from overall bullish to bearish). Selling with stops at the breakout bar high. Target is 2:1. There are many scenarios that can happen with channel breakouts. I'll be watching to see if we get stopped out and will look to re-enter on some scenarios if it breaks the bottom of the breakout bar again. There is also a possibility of one final high made before it falls. I am prepared for all the scenarios since I have studied this type of entry.
