Forex Education Articles for Beginner and Experienced Traders
The main objective of Forex Dominion is to educate all those interested in Forex trading about the most important aspects to succeed investing in the currency markets. Undoubtedly, the Forex market offer excellent opportunities to obtain high incomes in a short time, but it also entail significant risks that must be taken into account. Therefore, it is essential to have a deep knowledge about the markets, especially about the currency pairs in which we trade, in order to have a clear picture of what we can or can not expect. Many people get carried away by the promises to earn a lot of money in a short time, which are mainly used by brokers and other related companies that seek to attract new customers eager to invest. However, the reality is that many people who open a trading account in a broker specialized in Forex trading end up losing their money in a short time because they believe that everything comes down to buying and selling when the reality is something more complex.
The fact is that like in any other occupation in life, trading requires study, practice and patience. It’s not just about opening an account and becoming a millionaire overnight. The most successful traders, usually are studious people who are dedicated to learn everything related to what is for them, their modus vivendi. They are people who study the market, know it deeply and master all aspects that can influence their chances of success. Some even spent months and even years learning about the market before risking their money without further consideration.
Therefore, it is clear to the naked eye that education in trading is basic if we want to have any chance of success as traders, whatever the market in which we are trading, be it the Forex or the stock market for example. For example, we can have the best trading system, but if we do not have the right psychology or a good money management plan, in the long term we will end up failing.
The lack of education of many beginning traders is evidenced by the simple fact that most traders do not know that a money management plan is essential if you want to stay alive in the market. In fact, a good trading strategy without a good money management plan is less likely to succeed than a regular trading strategy without a sound money management plan. It’s that simple!
Therefore, much of the educational content of this site focuses on basic aspects related to trading, mainly the following:}
COVID-19 Crisis Triggers Global Debt
The COVID-19 pandemic is also having dire consequences for the economy. One of the most notable effects in a large increase in public and private debt. The world was still resentful of the great recession [...]
Bank for International Settlements (BIS)
What is the Bank for International Settlements (BIS)? The Bank for International Settlements, or BIS because of its acronym in English, is an international organization dedicated to stimulating monetary and financial cooperation worldwide. This large [...]
Personal Income and Consumption Index Indicator
General definition The Personal Income and Consumption Index is a report from United States that includes both personal income and consumption expenditures from all sources. This is a monthly figure, which always refers to the two previous [...]
Major Economic Indicators for Switzerland and the Swiss Franc (CHF)
The list of economic indicators shown below is of high relevance for both Switzerland and the Swiss franc (CHF), its current fiat currency, and therefore should be followed carefully by traders and investors who trade [...]
Major Economic Indicators for New Zealand and the New Zealand dollar (NZD)
The list of economic indicators shown below is of high relevance to New Zealand and therefore for its currency, the New Zealand dollar, and should be followed carefully for traders and investors who trade in this currency. However, is important to take into account that this country does not publish indicators very often. [...]
The Best Forex Daytrading Strategies IV
In this article we finish the series on daytrading and scalping strategies based exclusively on price action applicable to Forex and other markets, we hope you have liked it. These strategies are based on the [...]
The Rectangle Pattern – Trend continuation chart pattern
The rectangle is a trend continuation pattern and consists of a price formation in which demand and supply are apparently balanced for a certain period of time. The price moves in a narrow range where [...]
Evening Star Candlestick Pattern
The Evening Star candlestick pattern is a highly reliable trend change formation that occurs in bull markets and indicates that there is a high probability that the price will change from bullish to bearish trend. [...]
Frequency of Occurrence of Pullbacks in the Markets
According to recent studies on a universe of tens of thousands of graphic patterns (27,000), the chance of a pullback occurring after a support breakout is approximately one in two. Going into more precise details, [...]
Shark, Cypher and Nen Star harmonic patterns
I admit it, previously I was not a fan of trading based on harmonic patterns. In general terms, I had the feeling that they are patterns with a high component of subjectivity, so they are [...]
Andrews’ Pitchfork – Definition and Rules of Using
The creator of Andrews Pitchfork was an American named Alan H. Andrews, who based much of his thinking on cycles, especially Newton’s III Law applied to economics. This principle indicates that for each force acting [...]
Hull Moving Average – Ultimate Guide
Description of Hull moving average (HMA), a little-known type of moving average that almost eliminates lag in relation to price action compared to traditional moving averages. A moving average over the price of a financial [...]
Personal Income and Consumption Index Indicator
General definition The Personal Income and Consumption Index is a report from United States that includes both personal income and consumption expenditures from all sources. This is a monthly figure, which always refers to the two previous [...]
Economic Cycle – Concept and Definition
The economic cycle is a series of phases that the economy goes through and that happen in order until reaching the final phase in which the economic cycle begins again. Each cycle goes through periods [...]
Economic recession – Definition and Concept
A recession is a decrease in economic activity over a period of time. Officially, a recession is considered to exist when the GDP variation rate is negative for two consecutive quarters. It is also known [...]
Monetary Policy – Definition and Types
Monetary policy is the discipline of economic policy that controls monetary factors to ensure price stability and economic growth. It brings together all the actions that the monetary authorities (central banks) have to adjust the [...]
Main Economic Indicators for the Economy of Europe and the Euro (EUR)
The fundamental indicators shown below are of high importance for the euro, however, since the EMU (Economic and Monetary Union, the countries within the European Union which share a common market and a single currency, [...]
How to trade Forex with economic news?
The events and economic news bring strong movements in the financial markets at the time of publication. In this article we will explain all the keys to trade these scenarios successfully. It is possible that [...]
Forex Education Articles
COVID-19 Crisis Triggers Global Debt
The COVID-19 pandemic is also having dire consequences for the economy. One of the most notable effects in a large increase in public and private [...]
Bank for International Settlements (BIS)
What is the Bank for International Settlements (BIS)? The Bank for International Settlements, or BIS because of its acronym in English, is an international organization [...]
Personal Income and Consumption Index Indicator
General definition The Personal Income and Consumption Index is a report from United States that includes both personal income and consumption expenditures from all sources. This is [...]
Major Economic Indicators for Switzerland and the Swiss Franc (CHF)
The list of economic indicators shown below is of high relevance for both Switzerland and the Swiss franc (CHF), its current fiat currency, and therefore [...]
Major Economic Indicators for New Zealand and the New Zealand dollar (NZD)
The list of economic indicators shown below is of high relevance to New Zealand and therefore for its currency, the New Zealand dollar, and should be followed carefully for traders and investors who trade in this currency. However, is important to [...]
The Best Forex Daytrading Strategies IV
In this article we finish the series on daytrading and scalping strategies based exclusively on price action applicable to Forex and other markets, we hope [...]
How to use a demo account to learn how to trade?
In trading, in addition to the opportunity to obtain high benefits at very low costs, one of the main advantages is the availability of tools [...]
A Map of Forex Traders: Where Are the 9.6 Million Online Traders?
The Forex market has been particularly active since the 1970s. It has become the world’s largest financial market, with an average daily trading volume growing from [...]