The trading of the Forex market used to be the preserve of traders who had access to huge amounts of capital. You needed to be either a financial institution or a very wealthy individual to be able to afford to play in a market with a large amount of risk. But thanks to the Internet, this has now changed. The little guy is now able trade alongside the big institutions. And many brokers have welcomed these individual traders with open arms. One of the best of this new breed of broker is the ACM Forex Trading Platform.
As more automated forex robots are released on to the market we are seeing people who are not familiar with trading looking at buying them as a way to earn passive income.
If you're using charts, then you want to trade the strong trends - and the Average Directional Movement Index Indicator, or ADX, enables you to do this.
We're all used to dollars and cents (as you're used to the currency in your country), but when you enter the Forex market, you need to learn a new term: Pip. What does it mean and how do you calculate a Forex pip value?