There has been a recent trend in the past few years of forex traders moving away from traditional trading with brokers and towards independently trading at forex proprietary shops. This basically means that they can put some of their own money into a deposit, and then get help with funding from the broker for some more deposit, but at the end of a certain period they get to keep 50% of the profits, with the other 50% going to the broker.
As we have mentioned before that forex trading is most certainly not easy for new beginners. In fact, it can even be tricky for even the most experienced traders amongst us. If you get it wrong in forex trading, then you risk making huge losses and this can lead to a failure trap for many inexperienced and undisciplined traders. On top of the tips provided in this blog post, we are delighted to present some more inside tips on forex trading that you can use to avoid disasters and maximise your potential to win!1. Plan your goals
The forex demo trading contest is all about having fun while at the same time improving your trading skills and being able to go for every opportunity to win. While you are trading with other forex traders for the grand prize, it is worthwhile noting that you have to lose and everything to win for.
The economic calendar is one of the most important trading tools that every forex trader should be using on a daily basis and have their finger on the pulse all the time. The Forex economic calendar details upcoming economic releases, speeches, interest rate meetings, and much more. Economic calendars operate on a much shorter timescale and they are generally released every hour or so.