There has been a decent bullish move in the gold market from the very beginning of the year 2017 as the dollar slipped against its all major rivals in the global economy. The price of gold started its bullish recovery in the market after hitting a critical support level at 1122.04 in the global market. The U.S dollar gained its strongest bullish momentum in the market upon the rate hike on last December by FED.There FED hikes their interest rate on the basis of 25 points in the global market and also stated that they are going for possible three rate hike in the year 2017.During that time the U.S dollar index which is the measure of the overall value of the green bucks strength against the six major currency pairs in the global economy. However, the green bucks lost most of its bullish strength in the global market after the newly elected president Mr. Trump failed to keep his promise regarding the tax cut policy and increment in the fiscal spending. On this event, the gold market rallied significantly higher in the global economy breaking critical resistance level in the market.
Actually, it is a wrong question there are no types of traders but every trade is different from one another. They have the unique ways to trade the market. Anyways, trading personality is what matters when deciding what type of trader you are. It is not about whether you want to be professional or not. Today, we are about to discuss the major types of traders in the Forex market, even though we said there is no such category but when we analyze it further we can categorize the Forex traders as reversal traders and breakout traders. To be honest, every trader will adopt some particular strategy or a trading style in his or her trading life. So let us check out about the major traders.
There are many different types of trading strategy in the financial world. Trading strategies tend to vary from traders to traders. Most of the novice traders in the financial world tends to focus on indicators based trading strategy. They simply jump into the online trading world with a strategy which is developed based on indicators. If you observe the retail traders community then you will be surprised to see that most of the traders in the world focuses on indicators. But trading the financial based on indicators reading is not recommended at all. Indicators should be your helping tools in trading it should never be your price assets for trading. If you look at the professional traders than you will see most of the professional traders are using price action trading strategy in the market. Price action trading strategy is based on raw price data in the market and the professional traders use the key support and resistance level in the market to trade the price action confirmation signal. If you are relatively new in trading then you might be thinking that indicators are the best way to trade the financial assets but over the period of time you will gain experience and see the key benefit of using price action trading strategy. In this article, we will discuss why price action trading strategy is so much popular among the traders.
There has been a massive chaos in the global market in the last week as the investors were in doubt about the next movement of the green bucks. Though the dollar tried to recover some of its losses against its major rivals in the global market but eventually bearish took control of the market prior to market closing. There has been a strong negative U.S consumer sentiment in the recent days Mr. Trump failed to keep his promise as the newly elected president of U.S. After the U.S presidential election held on 8th November 2016 he stated that fiscal spending will be increased and tax cut policy will be implemented soon to ease the sufferings of the U.S citizen. However, three months have been passed there has been no initiative from the Mr. Trump to keep his promise and most importantly he has been creating extreme sentiment into the consumer’s mind. If things continue to go like this than there is strong chance that we will see a long-term weakness in the greenbacks. Due to the recent weakness of the green bucks, the Aussie dollar has broken a critical bearish trend line in the market which clearly impose a threat on the dollar bulls.
There are many different ways of trading the financial instrument in the world. Trading strategies and trading environment greatly vary from traders to traders. All the professional traders always make sure that they have a clear understanding about their trading platform since it helps them to perform the technical analysis in the forex market. Most of the novice traders struggle hard in the early part of their trading career since they don’t know how to trade the market properly. Even there are some traders who often don’t know the perfect way to use their trading platform. But if you truly want to become a professional trader in the forex market then it’s extremely important that you learn how to trade the market with your trading platform. There are many different types of a trading platform in the forex market but Metatrader 4 is considered to be the most popular trading platform both in the professional and novice traders’ community. If you truly want to become professional forex traders then it’s extremely important that you know the most important features of the mt4 platform so that you can take the best possible trade in the market. Let’s discuss some of the amazing parts of this platform which will enhance your trading performance to a great extent.