Best Way To Trade Forex

The ask price, or the offer price, is the price at which your broker will sell base currency in exchange for quote currency. The ask price is the best available price at which you are willing to buy from the market.

Decide what currency you want to buy and sell.
Make predictions about the economy. If you believe that the U.S. economy will continue to weaken, which is bad for the U.S. dollar, then you probably want to sell dollars in exchange for a currency from a country where the economy is strong.

Look at a country's trading position. If a country has many goods that are in demand, then the country will likely export many goods to make money. This trading advantage will boost the country's economy, thus boosting the value of its currency.

Consider politics. If a country is having an election, then the country's currency will appreciate if the winner of the election has a fiscally responsible agenda. Also, if the government of a country loosens regulations for economic growth, the currency is likely to increase in value.

Read economic reports. Reports on a country's GDP, for instance, or reports about other economic factors like employment and inflation, will have an effect on the value of the country's currency

Learn how to calculate profits.
A pip measures the change in value between 2 currencies. Usually, 1 pip equals 0.0001 of a change in value. For example, if your EUR/USD trade moves from 1.546 to 1.547, your currency value has increased by 10 pip.
Multiply the number of pips that your account has changed by the exchange rate. This calculation will tell you how much your account has increased or decreased in value

Research different brokerages. Take these factors into consideration when choosing your brokerage:
Look for someone who has been in the industry for 10 years or more. Experience indicates that the company knows what it's doing and knows how to take care of clients.

See how many products the broker offers. If the broker also trades securities and commodities, for instance, then you know that the broker has a bigger client base and a wider business reach.

Read reviews but be careful. Sometimes, unscrupulous brokers will go into review sites and write reviews to boost their reputations. Reviews can give you a flavor for a broker, but you should always take them with a grain of salt.

Visit the broker's website. The website should look professional, and links should be active. If the website says something like "Coming Soon!" or otherwise looks unprofessional, then steer clear of that broker.

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Check on transaction costs for each trade. You should also check to see how much your bank will charge to wire money into your forex account.

Focus on the essentials. You need good customer support, easy transactions and transparency. You should also gravitate toward brokers who have a good reputation

Find the Best Stocks to Day Trade with Pre-market Movers

For those of you that have been trading for some period of time you will know that the pre-market is one of the street’s favorite ways to head fake you. A stock could be up 6% in the pre-market only to open up 2% at 9:30 am. The reason for the large price swing is due to the thin volume that can carry a stock either way outside of the regular trading session.