What does it take to be a successful trader?

What does it take to be a successful trader?

Many people want to get into trading to make some quick profits easily. This can be a dangerous way to think about trading, as it does take expertise and there is a lot to learn first. Most people who start trading straight away without too much knowledge are struggling to make money trading forex or other assets online. This is because they all seem to have the same faults. If you are going to trade in the future or you are already trading, but losing money, then this a must read for you. Know what you are doing The first advice to everyone, if you are trading or planning to start trading, is that you must know what you are doing. If you don’t, you will lose money. If you have taken some course to learn about trading or you have read a lot of about it, you probably have a good understanding of the markets, what is affecting the markets and so on. This is a good start, but you will need to know the reasoning behind why you did something. You are entering trades, closing trades, setting stop-losses and take-profits, but without proper reasoning behind your actions. You need to know why you are doing these things, meaning that you need to have a trading plan. Traders that do not have a trading plan are most probably the ones who are losing money on trading instead of making it. Following a trading plan or a set of rules, every day is boring for most people. Remember that you are trading to make a profit, so it is...
Will U.S. Natural Gas Production Increase in 2017?

Will U.S. Natural Gas Production Increase in 2017?

According to the U.S. Energy Information Administration, last year American consumption of natural gas reached 75.1 billion cubic feet per day (Bcf/d). This rate is expected to increase by 0.4% by the end of 2017, and 2% by the end of 2018. The main drivers of this increased demand were, of course, the power generation companies and industrial sectors, due to residential and commercial heating expenses rising because of colder winter temperatures. These sectors will also account for the biggest projected increases in consumption in 2017, with an expected rise of 6% in residential usage, and 5.2% in commercial consumption. The outlook for 2018, closely mirrors the forecast for this year. In the industrial sector, including fertilizers and chemicals production, consumption is expected to increase by 0.6% in 2017, and by 1.9% in 2018. Electric power consumption by factories should go down by 4.4% this year, but experts anticipate an increase of 2.7% next year. In 2016, U.S. production of natural gas reached 72.4 Bcf/d, with Mexico serving as the prime export destination. Even though Mexico is among the world’s largest producers of natural gas, domestic production hasn’t been able to calm the booming demand in the past few years. In fact, the 21.7% rise in natural gas exports from the U.S. in 2016, was mainly due to higher exports to Mexico. Late last year the EIA said that these exports would almost double by 2018. However, the above projection might need to be significantly lowered. Pipeline companies such as Kinder Morgan and ONEOK Partners could have cause to worry that if President Trump slaps punitive tariffs on Mexican imports,...
How to Select The Best Binary Options Broker

How to Select The Best Binary Options Broker

Introduction Binary Options is growing at a very fast pace and within a short span of time, it has attracted a lot of traders. Since it is quite difficult to trade in the money market on an individual basis, so the need for a broker arises who act as an intermediary between you and the market. There are hundreds of thousands of brokers available in the market and sometimes it becomes quite difficult to choose the best one. So this blog is dedicated for those merchants who want to start their trading career and looking for. Here at OBF, you will be guided through a step by step process regarding selecting the best available broker for binary options trading. 7 Parameters to Consider while Choosing Binary Options Broker In order to start the trading career in binary options trading, one needs the assistance of a broker. Unlike Forex, there are no issues like slippage, pricing, re-quotes regarding the Binary Options brokers and selecting a good broker is not at all difficult for binary options trading. All you need is to get online and start searching for the broker. As a matter of fact, there are numerous factors that determine the overall quality of a broker and you should pay attention to one of the following parameters listed below: Regulation: If the broker is regulated by some authority like CySec, then it would be following sharp trading practices. At the same time, regulated brokers mean they are legitimate and your funds are in safe hands and you will be paid profits on your investments accordingly. Customer Service: The broker should have a...
Top 20 Forex Trading Mistakes

Top 20 Forex Trading Mistakes

Introduction Forex is regarded as the largest and most profitable online platform for financial trading. One can spot hundreds and thousands of investors but only a handful of successful ones while the rest of them are fighting hard to survive in the market. It is a very melancholic fact that the path of becoming a successful trader is a very difficult task and there are no direct ways to achieve this feast. Traders are often clouded with their own emotions when trading any asset and as a result of which they have to bite the dust. The problems new traders are facing in the FX trading are more or less similar to the ones faced by the traders a decade earlier. The reason is quite simple … irrespective of the advancement in technology or innovation; human beings are still human at heart. Emotions get in their way which blocks their intelligence and hence trader concerned is unable to make the correct decision. This particular blog will throw light at top 20 trading mistakes made by the traders while placing a trade in the Forex market. One should follow the mistakes seriously and make sure that they don’t such follies in the future. Successful implementation will keep losses at bay and help one become a successful trader in due course of time. As a potential trader, you are advised to have a proper look at the potential problems people make while executing the trade. The top 20 Forex trading mistakes are discussed under the following headings: Not Maintaining Proper Discipline: Trading is an art and it is important one should be disciplined...
Binary Options Withdrawal Methods

Binary Options Withdrawal Methods

Have you ever come across a situation where you had a very sour experience withdrawing money from your binary options broker? We bet that you did experience such kind of situation in the past. The reason is quite simple: depositing cash money in the trade account is simple but withdrawing the same is a herculean task because no one would like to give away your money! Just like any other type of business, depositing money is a very hassle-free, expedited and efficient process with less amount of paperwork. The problem only arises when you experience profits and want to withdraw money or whatever is left in your trading account. There are many reasons responsible for this painstaking withdrawal process; some consider it has to do with the global economy, some consider it is the fault in the broker concerned while some people relate it to certain human evolved factors. In this article, we have tried to shed light on this issue and attempt to find possible explanations related to the withdrawal process in the binary options market. Basic Information Regarding Withdrawal of Funds At the present global economy, the brokers in binary options are located in one country while their trader concerned is living in somewhere another part of the world. It is very rare to find both of them staying in the same country. People generally make deposits through various payment options like credit card, electronic wire transfer, eWallet, MasterCard etc. The same payment method is to be used at the time of withdrawal but in this case, the process is somewhat complicated because one is required to...
Can You Make Money Trading Forex

Can You Make Money Trading Forex

Introduction Undoubtedly Forex brings a financial opportunity to the traders because it is the biggest market hub at the present moment. So anyone asking “Can you make money trading Forex” should know the simple answer which is a big YES! However, the answer to the above question needs a deep explanation because it is a very complex question in nature. Figure Does Not Matter in Forex Industry Every day approximately 3 trillion dollars change hands in the Forex industry and this number can mislead you. One should know that a huge part of this money figure is actually regular currency exchanging which is done by blue-chip companies or any individual who is traveling to a foreign destination. Hence, the money is not directly available to the traders in the first place. Another important thing one should be aware that there are multiple trades taking place in the Forex market at a given time. These trades add up to this enormous daily volume which the market has at the moment. So it is not possible on the part of any person to take part in all these trading and hence, the three trillion dollars figure does not sound appropriate actually because it does not have any personal bearings. But having said so, one should know that Forex has a huge potential to offer the traders and one should exploit every opportunity available to them. But there are few things one should keep in mind and they are discussed below under the following headings:   The market offers a stiff competition and no matter if you are an experienced trader, you...
How to Make Money Trading Binary Options

How to Make Money Trading Binary Options

Introduction The power of the internet has really made making money easy for anyone who has some brain and able to work hard. Earning money through an online platform is not that much difficult as anyone presumes. If you get online, you will find hundreds of different ways that can help in increasing their revenue. In fact, the internet is flooded with effective solutions how to make money easily. However, a closer inspection will reveal that the “effective solutions” are not really effective in nature but are scam indeed. This is, in fact, the main reason why people are crestfallen when it comes to making money online. If you are resolute of making money, then there is a nice platform available in the form of “Binary Options Trading” where one needs to invest in market stocks and earn revenue on investments. It is, in fact, a very advanced way through which one can earn easy money and there is nothing illegal about the same. The process entails trading in various virtual commodities for a certain profit in return. All you need is a good broker who can handle transactions on your behalf, create a live trading account and then you are ready to go. However, you need to be a little bit cautious because it is a risky business. Binary Options Trading: Earning Money is Easy and Fun With the rise in popularity of Binary Options trading, there are numerous people inquiring whether it is possible to make money trading Binary Options. One should know that the odds of earning money in this financial industry are very high as...
How to Select the Best Forex Broker

How to Select the Best Forex Broker

Introduction Forex is the largest financial market in the world where every day around 3 trillion $(USD) changes hand on a daily basis. Since there is no any predefined marketplace in this marketplace, hence one needs to take the help of a broker if they wish to start their own trading career. In the recent times, a large number of brokers mushroom in the market so as to provide the best assistance to the broker. In this blog, we will throw light in selecting the ideal Forex broker for your trading and how to give a jump start to your overall trading career. 6 Factors to Consider before Opting for Forex Broker With so many brokers out there, how would a newbie trader select the best one? The chances are that they would not be able to start off things but you need not have to worry.   We are here to help you out and with our dedicated approach, you will be able to find the most suitable brokers as per your needs. Before you start reviewing the broker, there are few factors you need to pay attention and the same are discussed under the following headings: Make sure that the broker is registered with some good and authentic authorities like for instance CFTC, CySec or NFC. In the event, if the broker is non-US based, then make sure it is regulated by “Financial Service Authority”. In the event, if the broker is not a registered one, there are chances that it can be an illegitimate one and you should not trust them at any costs. Is the broker able to provide fixed...
A Simple Guide to Price Action Trading

A Simple Guide to Price Action Trading

Introduction to Price Action Trading If you are reading this particular blog, then it is likely that you are interested in Price Action Trading and looking forward to investing money. Once you are able to understand the price action, you have complete knowledge of all the fundamental aspects of trading and can help you become a successful trader. You might be having this question running in your mind “What is Price Action and How It is Helpful in Trading?” For beginners, they should know that it is the most powerful and sophisticated manner through which one can easily trade in the financial market. It is something like the technical analysis that makes use of “candle” so as to represent the data telling about the existing market conditions. The only thing that separates Price Action Trading from other kinds of trading is the fact that it makes use of naked and clean charts. There are not any kinds of indicators showing but only some data displayed in the form of the candle and that is it. This, in turn, makes this format of trading simple learn and easy to use. Basic Definition of Price Action Trading There is no basic definition of Price Action Trading but still one should know that it is the art of trading from the charts without making use of any indicators. Wikipedia simply explains it as “…the analysis of basic price movement as a methodology for financial speculation!”. Many traders would consider impossible to trade without indicators but once you are getting used to it, you will understand its true relevance and regard it as a Holy Grail for...
Elliott Wave Theory

Elliott Wave Theory

“Elliott Wave Theory” was developed by “Ralph Nelson Elliott” in the early 1920’s. Elliott has focused on and analyzed the interaction of up and down price movements with social psychology and named these movements as “Wave”. Ralph Nelson Elliott has found out that factors which are the results of community psychology and external effects, cause stocks’ prices to repeat their movements in a specific circuit. Elliott has set up his work based on “Dow Theory” and explored the stock’s volatility in the fractal structure of nature. Accordingly, he defined the price movements as “In-term Waves”. There is a significant advantage of learning “Elliott Wave Theory” in Forex Trading for the traders. A Forex trader may foresee the markets’ trends with an adequate knowledge of “Elliott Wave Theory” and experience it with the aid of enough Forex education. In general; Elliott Wave Theory proceeds in the reverse order to increasing and decreasing trends of the market prices. Price patterns move from one side to another as a result of breaking in a channel. On the other hand, they make a correction. Prices signal for the main target of trends. Ralph Nelson Elliott and the analysts believe that Elliott Wave Theory has some correlation with human psychology. And they do assume that human beings’ instant psychological acts reflect the markets as waves. Besides, “Wave Principles” were published in order to deeply understand the Elliott Wave Theory. “5-Wave Model” informs about the major trend. This model can be briefly explained as below: 1st Wave: analysts assume that the old trend still continues and organize their revenues based on low assumptions. There are a...