In order to trade the markets effectively and profitably, you need an edge. That edge is usually a carefully crafted strategy. A strategy, by definition, should enable you to take advantage of opportunities while avoiding potential threats.
Forex trading is complicated, sure, but like every other great investing market in the world, it could represent huge gains if you do it properly. As the old saying goes, no pain, no glory; knowing how to become a successful Forex trader could be the game changer in your life.
If you’re searching for an advanced forex trading strategy, then we’ve got you covered.
In order to become a consistently profitable forex trader, you’re going to need to be realistic and find a strategy that works for you and your own particular trading personality.
Forex trading in Hong Kong is very popular as Hong Kong is considered to be one of the largest forex centers in Asia. Hong Kong is a strong competitor to the United States and the United Kingdom in terms of volume traded. In 2016 Hong Kong overtook Tokyo as a 4th largest trading hub in the world and together with United Kingdom, the United States, Singapore as well as Japan make up 79% of all foreign exchange trading.
Switzerland is one of the richest countries in the world in terms of GDP per capita and the Swiss Franc CHF is among the most popular currencies traded.
The Swiss franc has a reputation of being a safe haven during times of uncertainty and regularly ranks among most traded currencies in the world. This is mostly due to the fact that The Swiss National Bank, which is the Central Bank of Switzerland is actively involved in the forex market to stabilize CHF`s price in as tight range as possible.
If you’re a price action trader, then forex candlestick patterns need to be a part of your trading strategy.
Forex candlestick patterns offer a real-time glimpse into whether the bulls or bears are taking charge of a market and therefore allows you to make an informed trading decision.
Knowing how to calculate profit and loss in Forex trading is a useful skill you should develop to protect your account and to react fast and neatly to any market movement. It is not just about to have a notion of how much will be your gross profit, but a sense of opportunity when things go in your favor but especially against you
My name is Phat Fin Ge, but most people just call me Fat Finger or Mr. Finger.
Many years ago, I was a trader on the Hong Kong Stock Exchange. I became so successful that my company moved me to their offices on Wall Street. The bull market was strong, but my trading gains always outperformed market averages, until that fateful day.
On October 28th, 1929, I tried to take some profits after Charles Whitney had propped up the prices of US Steel. I was trying to sell 10,000 shares, but my fat finger pressed an extra key twice. My sell order ended up being for 1,290,000 shares. Before I could tell anyone it was an error, everyone panicked and the whole market starting heading down. The next day was the biggest stock market crash ever. In early 1930, I was banned from trading for 85 years.
I went back to Hong Kong to work at my family's goldfish store. Please come and visit us at Phat Goldfish in Kowloon, only a 3 minute walk from the C2 MTR entrance.
I thought everyone would forget about me and planned to quietly return to trading in 2015. To my horror, any error in quantity or price which cause a problem kept getting blamed on Fat Finger, even when it was a mix up and not an extra key being pressed. For example, an error by a seller on the Tokyo Stock Exchange was to sell 610,000 shares at ¥6 instead of 6 shares at ¥610,000. That had nothing to do with me or with how fat the trader's finger was, but everyone kept yelling, "Fat Finger! Fat Finger!" In 2016, people blamed a fat finger for a 6% drop in the GBP. It really was a combination of many things, none to do with me or anyone else who had a wider than average finger.
Now that I can trade again, I'm finding forex more interesting than stocks. I've been doing some research on trading forex and other instruments and I'll be sharing it here.
If you see any typing errors, you can blame those on my fat finmgert. If you see any strange changes in price, it's not my fault.