Below are some expert trading tips for forex traders, courtesy of Tadawul FX
1. An old cliché but one which holds great truth – ALWAYS trade in the direction of the trend. In the Forex markets we see great trends in currency pairs that last for a long time (cycles). Therefore, it pays to identify the dominant trend of currency pairs. Going against the trend will only cost you a lot of money and destabilise you emotionally.
2. Plan your trade, trade your plan. Trade plans can be made well in advance in the Forex market and help eliminate emotional trading. The more mechanical you become in entering and exiting trades, the more profitable and consistent you will become in the long run.
3. Before initiating any trade, always know your risk and truly accept this risk. The risk is defined as the number of pips from your entry to your stop loss.
4. Always, use a stop loss after initiating a trade. Placing a stop loss does not essentially mean that you are expecting to experience a losing trade but will help minimize losses against unforeseen market circumstances caused by unforeseen events such as terrorist attacks, geopolitical events etc.
5. After initiating a trade, a trader must have clear trade management guidelines for that trade. Trade management means that the trader knows in advance when and where he or she will move the stop loss and when to scale out of part of the trade and eventually where to take profits.
6. Whilst trading Forex, it is imperative for a trader to know the characteristics of the currency pairs he or she likes to trade. A way of achieving this is by looking at the past behaviour of the currency pairs in order to ascertain key characteristics such as: a) how well does the pair trend? b) which economic events influence the pair? c) what is the Average Daily Range of the pair? etc.
7. Always keep in mind that the Forex market presents the trader with a constant stream of opportunities, therefore, if the trader experiences more than 2-3 consecutive losses, stopping to trade for a period of time is advisable. This will give the trader time to refocus and examine mistakes and prepare psychologically to re-enter the market again.
8. Trade to profit and not just to trade. Many traders think that because they might sit in front of a trade station for a period of time it is logical that they should be trading constantly. A trader should only initiate trades once all the odds are stacked in his favour and he has an edge. Then and only then can trade be initiated. Patience and discipline is an integral part of successful and consistent trading and are traits that a trader must endeavour to possess.
9. All successful traders have a trading diary that contains all the trades good or bad they have ever initiated. This gives traders the opportunity to constantly evaluate their performance and rectify any identified mistakes.
10. All successful traders are constantly learning and evolving. Just when you think you know it all about trading, a new curveball gets thrown your way. Furthermore, as time passes by, new methods of making money are developed and need to be learned about.
Online Forex Broker Leads By Example
BY RP, ON JANUARY 22ND, 2011
The accessibility of the foreign exchange market is one of its biggest draws, and using an online forex broker who understands the needs of their clients is a major key to finding success with it. While the forex may seem like a trader’s playground at times -since it remains open 24/7- for Islamic investors, certain principles must be followed in keeping with their faith and Sharia law. While any investor looking for a forex broker wants a company that has the financial well-being of their clients as a primary concern, Tadawul FX (TDFX) provides their Muslim clients with years of experience in money market trading, plus a deep understanding and respect toward Sharia law.
Since Sharia law prohibits Muslims from either accepting or being charged interest, it can be difficult for followers of the faith to find representation through a forex broker who can honestly meet their unique needs with respect to trading on the foreign exchange market. TDFX offers interest free accounts, and unlike some other forex brokerage firms who claim to support Islamic requirements, they don’t try to make up for any lost revenue by charging Muslim clients hidden fees or surcharges. Doing so would violate the intent of Sharia law. TDFX have separated themselves from competitors by maintaining a level of superior customer service featuring commission-free trades, which has given them the reputation as one of the most trusted Islamic brokers offering access to the foreign exchange market.
When you sign up with Tadawul FX, you even have the option of starting start off with a demo account using virtual currency, which allows you to trade on forex in a simulated real world environment with no risk to your own money. More experienced traders can opt in right away with a live account, and both accounts are packaged with the industry standard, multi platform, Meta Trade 4 software. Meta Trade 4 conveniently allows you to trade forex, CFDs, and commodities from one account, and it’s even available in a mobile format, meaning you can check the market and make trades from almost anywhere. With a market that can fluctuate greatly during the span of an hour, mobile trading continues to gain popularity amongst traders.
All it will take is a quick check around the internet at other online broker sites to realize that TDFX is the online forex broker you need to make the most of forex opportunities. Their industry leading customer service standards have set them apart from competitors, and have also helped make them stand out as a forex broker that can guarantee Islamic clients transactions that are within Sharia law.
About Tadawul FX
Tadawul FX (or TDFX) is an industry leader for Islamic foreign exchange market investors who wish to partake in market transactions while still staying within the rules of Sharia law. Since their founding in 2006, TDFX has gained a reputation of following a code of honesty and integrity when dealing with customers, including Islamic clients. If you would like more information on TDFX becoming your Islamic forex broker, visit the web site, call them direct at +357 25200900 or email support@tadawulfx.com.
kalau you org perasan kat Mialbox platform TDF.. ada info. Beri perhatian tentang analisis dr TDFX, banyak membantu...
Dan sesapa trader TDFX yang inginkan info2 terkini analisis sampingan yang jugan banyak membantu dalam membuat analisa harian anda untuk memana pair, hubungi saya dan saya akan share the information hanya kepada TDFX traders...
contoh untuk gold:
....Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
Ada banyak lagi but only to TDFX traders under IB saya....
bunyi cam islamic ek? menarik gak nie..tapi nak kena belek satu2 laa dulu nie...
Belek bro...
setakat ni yg saya tahu.. TDFX adalah antara pioneer broker yang ada Islamic syariah compliance trading conditions. Kalau bab derma pun dia blh kendalikan.
Islamic Forex Accounts – Islamic Forex Trading with TDFX
Islamic forex accounts are a specific category of forex trading accounts also known as interest free or swap free forex accounts.
Islamic forex trading accounts permit clients of Islamic religion to trade on interest free accounts (SWAP free or Roll Over fee) with no extra charge or penalty for the ability to trade in adherence with Islamic religious principles. Clients can open and close positions at any time within the Tadawul FX Metatrader 4 system without being constrained to holding them for a defined period.
Some common Islamic forex trading account conditions include:
No Riba Policy:
Clients benefiting from the Tadawul FX No Riba policy may hold positions for an undetermined time at the original opening price until they are closed and no charges will occur. Tadawul FX may revoke the ‘No Riba’ policy in case of abuse with a 48 hour notice by email.
Musharaka or commonly called joint venture:
[COLOR="rgb(0, 100, 0)"]This refers to a partnership or joint venture for a specific business with a profit motive, whereby the distribution of profits will be apportioned according to an agreed ratio. In the event of losses, both parties will share the losses on the basis of the agreed ratio.[/COLOR]
Hibah (Gift or Donation): [COLOR="rgb(0, 100, 0)"]The term ‘hibah’ refers to gifts awarded voluntarily in return for a loan given. Tadawul FX will select different organizations in order to enable investors to donate a percentage of their profits to them.[/COLOR]
At Tadawul FX, we offer clients the possibility to choose Islamic Forex Trading conditions for any of our Forex account types including Mini, Standard or Premium accounts, regardless of base currency or leverage offered. Islamic trading accounts may also be used for Managed forex accounts, as the only determining factor is the religion of the client that the trading account belongs to. TDFX enables its clients to trade with no swap charges and with no other additional charges, spread or hidden fees, ‘simply fair and ethical trading conditions for all’.
The Islamic Accounts offered by Tadawul FX are not the same as the Islamic Accounts generally offered by other Forex companies. They differ based on the fact that TDFX offers SWAP free accounts with no other additional charges, whereas most other companies transfer this fee by widening the spread on Islamic Accounts. In order to abide by Islamic religious beliefs, one must not pay interest but if that interest charge is transferred to a different type of fee, it is basically still a charge to cover the interest. This is also referred to as a SWAP fee in disguise. Tadawul FX does not do this, again demonstrating that TDFX offers fair and ethical trading conditions.
No Riba Policy:
Clients benefiting from the Tadawul FX No Riba policy may hold positions for an undetermined time at the original opening price until they are closed and no charges will occur. Tadawul FX may revoke the ‘No Riba’ policy in case of abuse with a 48 hour notice by email.
No Riba Policy:
Clients benefiting from the Tadawul FX No Riba policy may hold positions for an undetermined time at the original opening price until they are closed and no charges will occur. Tadawul FX may revoke the ‘No Riba’ policy in case of abuse with a 48 hour notice by email.
yeap.. NO RIBA policy... kalau abuse aje pun dia akan warning dulu 48 jam...
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