Author: rcanessa - Page 28

Cryptomania Trading Contest for Demo Accounts of FXOpen

The Forex broker FXOpen is organizing a new trading competition for demo accounts called “CryptoMania”, in which any trader who wants to test their skills to trade with cryptocurrencies and wins interesting prizes can participate. All customers of this broker, both new and existing, can participate. In addition to gaining experience in the markets, the winning participants can obtain prizes of up to USD3,000. No participation fee is required.

-Period of the competition: This trading tournament will be held from March 9 to April 3, 2020. The registration period ends on March 22, 2020.

XM demo account tutorial: How to open a new account?

by rcanessa

As in previous guides, this lesson is dedicated to explaining how to create a demo account in the Forex broker XM.

We will explain step by step and in a simple way how to activate an XM demo account or open a real account.

The demo account works as a virtual money trading simulator provided by the same platform.

It is important to know that this Forex broker provides access to the markets from any available device or operating system.

Types of Indicators in Technical Analysis

by rcanessa

To perform a consistent technical analysis, it is necessary to know what are the most important indicators to make our trading decisions. If you are starting your career in the world of trading, the price charts of different currency pairs can be overwhelming at first. In addition, it is confusing to know what are the most appropriate technical indicators to study for each price chart.

In this article, we are going to see the four basic groups of technical indicators that exist based on the information that each one presents. In ForexDominion we already have several articles that explain exactly how all these financial indicators work and how you can use them to analyze trends, price objectives, and strategies. Therefore, we are not going to focus on saying which type of technical indicator is the best, since each trader has its own tastes and strategies, neither in specific details of the indicators but in the general characteristics of these analysis tools, since our goal is to help the reader to better understand each indicator and its use.

US Congress discusses regulation of the Cannabis market with the Federal Reserve

by rcanessa

Medical and recreational marijuana has been opening spaces in several countries of the world and, more recently, in the United States. However, it seems that the regulatory frameworks in the great world power are not clear and there has been a discussion between a member of the American Congress and the central bank of this country, known as the Fed or Federal Reserve System. In a hearing that lasted for two days, the president of the Federal Reserve gave his opinion on various issues before the United States Congress, due to changes in the political and economic scenario since he took office in 2018. One of the issues discussed was the legal vacuum for authorized cannabis companies to operate with banks.

Background: marijuana in the United States and its legal status

The issue of Cannabis has become a headache for the American government. Its structure of independent political-administrative divisions makes regulatory frameworks complex, especially for such controversial issues as marijuana. According to the Business Insider analysis, Cannabis continues to make its way in the North American country. Although at the Federal level it is still illegal in the USA. In the US, many states have put to work to legalize their medicinal and even recreational use – the latter with more recent additions. Of the 50 states that make up the US territory, 33 have accepted the medicinal use of this psychotropic. Meanwhile, recreational use is more limited: only 10 states have been mounted on the train. The last to join was Michigan, where recreational marijuana was approved in December 2018.

From the commercial war to the currency war. How does the economic battle between the United States and China affect the economy?

by rcanessa

The trade war between the United States and China has lived its nth chapter, with the establishment of new tariffs between the two countries, for tens of billions of dollars.

Donald Trump and Xi Jinping continue to fight a battle that involves not only a commercial pulse between the two largest economic powers on the planet but also a fight for global supremacy, for the ability to influence throughout the world.

Naturally, this struggle between the two superpowers, which agglutinate 40% of the world’s GDP (another 20% corresponds to the European Union), affects not only both contestants, but also has multiple and varied effects on other economies. And more if we take into account that together with the increase in tariffs, we have a currency war, more or less buried.

Trading system for MT4 with RAVI FX Fisher and Market Guru indicators

by rcanessa

The trading system for MT4 that we are going to present below aims to enter market trends shortly after they begin. Therefore, it is not a counter-trend system, but rather a trend-following system that uses a series of technical indicators to detect changes in market direction as soon as possible.

It is a system based on a series of well-known technical indicators such as the JCCI and moving averages, although there are also modified indicators that were designed for Metatrader 4. Therefore, this methodology can only be applied to this trading platform.

Together, all these tools are designed to analyze the market trend and determine when a change is likely to occur. However, given that the trend changes are not easy to predict and before one occurs there may be false signals, especially in range markets, it is recommended that the trader always apply risk control and monetary management measures that decrease the impact of losing trades.

As always, it is recommended to test this system in a demo account before using it to trade with real money.

Wuhan coronavirus: how is a pandemic transmitted to the global economy?

by rcanessa

News about the expansion of the coronavirus makes headlines in the news. Many people wonder if this epidemic could spread on a large scale if it will be the next pandemic and will seriously affect not only a large part of the world’s population but also the global economy.

On Tuesday, February 4, the director of global preparedness for the risks of infection of the World Health Organization (WHO) explained that we still cannot talk about a pandemic (which would be when a disease spreads worldwide), but of an epidemic with multiple foci.

In addition to health effects, the impact on the global economy could be very high. If we move to the past only a few years ago we find SARS, the severe acute respiratory syndrome that had its origin in Southeast Asia, and that has some kinship with the coronavirus.

Autotrade – Copy Trading Service of FPMarkets

by rcanessa

The Forex and CFD broker FPMarkets, an Australian company regulated by ASIC, is offering its clients a modern copy trading service known as Autotrade, which is based on the concept of “mirror trading”. AutoTrade is a service that this broker provides through MyFXBook and offers the clients of the company the possibility of copying a wide selection of trades generated … Read more

FXCC – Forex ECN Broker

by rcanessa

FXCC

– ECN/STP broker from Cyprus specialized in Forex and CFD

-Regulated by organizations such as CySEC

-Variable spreads

Visit Broker Website

FXCC – Forex Broker Review

In the following review about the FXCC broker we are going to show the main brokerage services of this company, including its markets and trading platforms, and what are its greatest advantages.

FXCC is an ECN Forex broker from Europe which offers direct access to an ECN network. For this reason, its clients can trade with very low spreads and fast executions thanks to the liquidity providers of the company. One of the main advantages of FXCC is its regulation with CySEC of Europe. This broker was created in 2010 and offers different services for the trader, including various types of trading platforms and promotions for new and regular clients.

FXCC is an ECN/STP broker, which means that it acts as an intermediary between its customers and the market and offers direct access to the main liquidity providers, including 14 top-tier global banks. Thanks to this, customers of this broker can trade based on the best trading conditions, including fast and efficient order execution and variable and low spreads. In addition, there is no conflict of interest between the broker and the trader since the former does not act as the counterpart of the trader in its transactions as in the case of a Market Maker.

Gaps in Forex – Definition and Main Gaps Types

by rcanessa

Do you know what a GAP is in Forex? The foreign exchange market has a range of fluctuations in its transactions, which can be predicted through chart analysis and other market analysis tools. However, this fluctuation can cause sudden “jumps” in the price of a currency, without giving opportunity for transactions between one price and another. This is known as gap in Forex.

Therefore, we can define a price gap as a breakout in the continuity in the price line with respect to time. It occurs when the price experiences an upward or downward movement without any transaction between the previous price and the current price.

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