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TradingForex.com

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TradingForex.com offer: 100% Christmas Bonus

100% Christmas bonus on your Trading account

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Deposit 100$ and get 100$ bonus: Trading Capital 200$
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"In the event that the amount of an Eligible Client’s own funds in his Account(s) with TradingForex.com becomes zero or less, all previously awarded Welcome Credit Bonus will be cancelled and will be withdrawn from the traders account."
 
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what is forex?

Foreign exchange or Forex as common named can be simply described as the exchange of one type of a currency for another. It is known as the world's largest financial market, with approximately $5 trillion per day on trading volume and the number keeps on rising. Comparing this to the New York Stock Exchange, with a daily $50bn turnover it’s easy to see how the worldwide Forex market is the biggest financial market in the world. Before the Forex Market got so big the foreign exchange trading was mostly for large banks and institutional traders. Since then technology has advanced making it possible for anyone wishing to trade Forex easy as they can use various trading platforms to trade either on their pc or mobile device.

The Forex market is considered an Over the Counter market as it is run electronically, within a network of banks on a 24/7 basis. The currencies of the world are always traded in pairs and are divided in major and minor currencies with majors being the ones that are mostly traded daily and minors the currency pairs that don't contain the U.S. dollar. (Note: the dollar is the most traded currency worldwide)

An example of a currency pair exchange is: a trader who believes that the rate of the EUR/GBP will go up therefore deciding to buy (go long) the EUR against the GBP. If a trader thinks the EUR/GBP will go down then he will sell (go short) the GBP against the EUR. If your predictions turn out to be correct you will then be able to make the opposite deal meaning he will exchange this first currency back for that other and make profit from it.

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Important news

28.12.2012
CFDs Europe 50 - Early Closing at 16:30 GMT
Germany 30 - Early Closing at 13:00 GMT

31.12.2012
Fx and Metals Early Closing at 18:00 GMT

CFDs Europe 50, Germany 30 - Closed
France 40 - Early Closing at 13:00 GMT
Netherlands 25 - Early Closing at 13:00 GMT
Uk100 - Early Closing 12:30 GMT
US SPX 500, USTech 100, Wall Street 30 - Early Closing at 18:00 GMT
Gasoil, UK Brent, US Crude - Early Closing at 18:00 GMT

01.01.2013
Fx Closed - Reopen at 22:00 GMT

Metals Closed - Reopen at 23:00 GMT

CFDs Closed

02.02.2012
CFDs US SPX 500, USTech 100, Wall Street 30 - Opening at 11:00 GMT
 
How to Use Price Channels ?

In a trending market, a price channel can often be drawn between two parallel support and resistance levels. The key to this price channel is that the lines be drawn parallel to each other and the value of the price channel depends on that.
Unlike trend lines, price channels should not be forced on a chart where they are not quickly apparent.
How it works is this… once a trend line is established, draw a duplicate line parallel on the chart. Then move it up to the relative highs above or down to the relative lows below the trend line.
If two or more fit with the line, then you may have located a valid price channel. Otherwise the market maybe too volatile – even in the middle of a strong trend, to plot a price channel.

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types of charts :

1. Line Bar Charts
The easiest to read of the charts is the Line Bar Chart. It simply shows a line graph of time vs. price.

2. Bar Charts
The next chart to decipher is the Bar Chart. Bar charts not only show price, but also show the entry price per period, the exit price at the end of the period and the high and low of that period. Each horizontal line represents one time period. The period is selected by you to represent 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, a day, a week or a month.

3. Candlestick Charts
Candlestick charts are similar to bar chart but with additional information of each bar being hollow or coloured. This is done to allow a trader to easily visualise a period bar to have moved in a positive or negative direction from its entry price.
 

Live Forex Chart

Currency
Rates
EUR / USD
1.14790
USD / JPY
156.877
GBP / USD
1.33885
USD / CHF
0.82250
USD / CAD
1.39985
EUR / JPY
180.080
AUD / USD
0.71320
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