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EDUCATION

 

 

 

Trading is not just a matter of ‘buying low and selling high’. If it was that easy, the world would be filled with multi-billionaires. While it may appear simple, probably due to the ease with which trades can be entered, trading is in fact a highly complex activity. Trading itself is easy but trading on a consistently profitable basis is an exceedingly difficult thing to do. Experienced and successful traders spend time educating themselves on trading techniques and trading psychology. To be successful, a trader needs to understand how to trade in different market conditions and how the instruments being traded react to different market conditions.

While Forex is the world’s most liquidated market with an average of $4 trillion trade volume flowing through it a day and the opportunities plentiful, it’s also important to learn to respect the markets and with the correct education this can be achieved while creating profitable risk adjusted returns.

Tutorials

Resources

Saxo Forex Order Book– Order book see market pending orders and executed orders by other traders.

Live Currency Converter – Live rates of currencies worldwide

Cashback On Trades – Cashback for each trade you make should you open an account through them.

Trading View – Trade ideas and useful tools for creating your own technical setups

Live Exchange Rates Over Weekend – Live exchange rate of currencies update by the minute and is live through the weekend when your MT4 price feed is closed.

Myfxbook – Myfxbook is the industry standard for verifying the performance of your trading account if you want to share it with others. Myfxbook will connect directly into your MT4, and you can publish your performance figures.

COT Data – Here can be used to view the CFTC (Commodity Futures Trading Commission) commitments of traders data (or COT in short) in an easily readable format. The data is published by the CFTC every week on Friday and contains an aggregated report of the different holdings of market participants in the US futures market (where you can trade currencies, commodities and metals such as gold and silver).

Spread comparison tool – Compare the spread across brokers and account types.

Trade Copier – Although not quite as state of the art as our own trade copier this FXBlue personal copier will allow you to copy trades from one account to another. Note that you will need a VPS to copy trades successfully if your computer isn’t on 24/7.

FED Statement Tracker– Highlights the changes from one statement to the next, allowing you to fully understand the language and tilt of each release.

Countdown to FOMC – Based on CME Group 30-Day Fed Fund futures prices, which have long been used to express the market’s views on the likelihood of changes in U.S.monetary policy, the CME Group FedWatch tool allows you to view the probability of FOMC rate moves for upcoming meetings.

Baby Pips Calculator – Tool that will help with your position size based on the percentage of account risked.

Calculated Risk – Calculated Risk blog, run by Bill McBride, for his clear and insightful analysis of US news events.

FX Charts Blog -Jim Langland writes excellent daily commentary that is released at the commencement of the Asian session.

Technical Analysis Reports – DailyFX provides a daily technical analysis feed for key insights on current market trends in forex, cryptocurrencies, commodities and indices.