How to Determine Safe Leverage on Forex MarketLeverage is the ability to trade with more money than you currently have. For example, imagine that you currently have 100 USD on your Forex account. Since GBP is in a bullish mood, you decide to buy it at 1.30000 USD/GBP. In a couple of hours, it reaches the resistance level of 1.30500 and you sell your GBP. At the end of the day, you’d have made 0.5 USD — which is respectable, but not that impressive. You certainly won’t be able to live off this profit. Now, let’s add leverage to the mix. With 1:10 leverage, you can trade as if you have 1 000 USD, although you only have 100. Your profits would also multiply by 10, which would make them 5 USD. And having a 5% return from a single deal is actually more than impressive. However, leverage is not all sunshine and rainbows. It comes with a lot of risks involved. Why Leverage Can Be Bad For example, imagine that you had 100 USD, purchased GBP at 1.30000 and the price then … [Read more...] about How to Determine Safe Leverage on Forex Market
Trading the forex market
‘Forex market reforms to continue’THE Bangko Sentral ng Pilipinas (BSP) will keep pursuing reforms that will improve the country’s foreign exchange (FX) market, according to its chief. “The BSP will…continue to pursue initiatives aimed at promoting the development of robust, fair, liquid and transparent FX market in the Philippines,” Bangko Sentral This was after he made the asurance that the central bank would continue to adhere to a market-determined FX policy amid the peso’s sustained strength against the US dollar this year. The BSP chief said one such initiative was the establishment of a governance framework for the FX market. “The framework shall require that spot transactions between dealer BSFIs (BSP-supervised financial institutions) be transacted only in an organized interdealer market that is governed by trading rules and regulations, codes of conduct and conventions set forth by an FX Market Oversight Body,” he added. … [Read more...] about ‘Forex market reforms to continue’
How to avoid losing money on ForexEveryone who enters the Forex market trades for the purpose of earning. Statistics show that more than 90% of beginners fail at the start and only a few traders reach success. Trading involves risk. However, these risks can be minimized. Let’s consider how to avoid and minimize losses when trading on Forex. Learn Forex trading Novice traders often try to make money quickly and trade blindly. Most people start trading without knowing the basics. Trading requires education and practice. Do not trade until you master the terminology and the most popular strategies.Proper training is one of the key ways to avoid losing money on Forex. If you follow the trading rules and use your skills, you can earn a stable income.Choose a reliable broker If you want to avoid losses, carefully choose a broker. Explore the broker’s trading terms, services provided, etc.JustForex has been providing online trading services since 2012. The company complies with … [Read more...] about How to avoid losing money on Forex
The State Bank of Vietnam held a meeting in Hanoi on January 9 to launch tasks for the banking sector this year (Photo: VNA) Hanoi (VNA) – The country net purchased over 6 billion USD in 2018 to raise its foreign exchange reserves, the State Bank of Vietnam (SBV) reported at a meeting in Hanoi on January 9 to launch tasks for the banking sector this year. SBV Governor Le Minh Hung reported that in 2018, the central bank took concerted measures to achieve the set targets, thus greatly helping control inflation, stabilise the macro-economy, support economic growth and ensure the safe operation of credit organisations. The monetary policy has been carried out in harmony with other macro-policies, particularly the fiscal and price management ones, helping to keep the average inflation below the ceiling target of 4 percent. Interest rates have also been kept stable in spite of the upward trend in the world. Meanwhile, though there was certain pressure, gold prices and … [Read more...] about Over 6 billion USD purchased to raise forex reserves
How real and profitable is Forex trading?When it comes to trading forex, chances are that you might have come across many advertisements about how you can make money. In fact, you might have even come across a few traders at forums who boast about their trading skills and how they now make a full time living with forex trading. You might have wondered how much of this true and questioned whether forex is really profitable? There are many traders just like you who are skeptical about whether it is possible to make money with forex and if it is indeed a profitable venture to pursue.When asking this question, what most traders fail to understand is the background or the context. For example, a trader might boast that their forex trading is really profitable. But they seldom talk about how long it took them to be profitable. Most importantly, how consistently profitable were they? Do 90% of retail traders really lose money? There is a quite often repeated phrase in forex circles that over … [Read more...] about How real and profitable is Forex trading?