Before You Open a Forex Account

If you have decided to get into the forex trade, then chances are that you will find yourself having to open a forex account with one or another forex account provider. It is through such a forex account that you will gain access to the platform through which you can perform the forex trade, seeing that the modern forex trade is largely carried out over the Internet. And while opening a forex account might feel like too much work, you will be glad to learn that before the online trading platforms on which such accounts are opened became available, getting set up in the forex trade would have been even harder, as you ...

Calculating Forex Profit and Loss

Online forex trading offers number of distinct advantages. Besides real time rates, your profit and loss is calculated on real time basis by the forex trading software and is displayed live online. Even though this is an important advantage in forex trading account but I strongly recommend that you must be aware about the methodology to calculate your profit and loss from forex trading. Basically there are two straightforward rules for calculating your profit and loss from forex trading: Rule No.1: Whenever the quote currency (second currency) is USD, you can calculate the profit and loss in USD terms by ...

Traits of Successful Forex Traders

Global forex trading business has emerged as the most rewarding venture for skilled, experienced and professional forex traders. It is true that people like me and you would also like to grab a small pie from the enormous profit potential of forex trading. Well, there is nothing wrong in it but it is not a piece of cake for everybody to become a successful forex trading professional. It is said that success follows automatically if you can avoid failures. It is only partly true in forex markets as the success also depends upon few other special qualities of a forex trader. So, what are the traits of a successful forex ...