How to Register Account at OctaFX How to Register a Trading Account To open a trading account, please, follow the step-by-step instruction: 1. Press the Open Accoun...
What is 50 day moving average? How to use it and identify Profitable Trading Opportunities in OctaFX
The 50-day simple moving average (SMA) is commonly plotted on charts and utilized by traders and market analysts because historical analysis of price movements shows it to be an effective trend indicator. The 50-, 100- and 200-day moving averages are probably among the most commonly found lines drawn on any trader or analyst's charts. All three are considered major, or significant, moving averages and represent levels of support or resistance in a market. So you’re wondering: “Which is the best moving average?” Well, there’s no best moving average out there because it doesn’t exist (as it depends on your objective current market structure). But in a healthy trend, the 50 day moving average is king. And that’s what you’ll discover in today’s post, so read on…
A day in the life of a Full-Time Forex Trader in OctaFX
Until recently, forex trading inspired fear and mistrust for many people not familiar with the financial industry. The “day-trading Australia” crowd are not very vocal about the benefits they enjoy, so trading is still quite overlooked (as either a full or part-time activity) for the vast majority. But all of that is changing. Not so long ago, trading opportunities that came with currency-pairs and stocks were only available to big businesses and fat cats in suits working in glass tower offices. Anyone who wanted to trade full-time needed a specific education. Because of that, people still believe that a day-trader needs a financial degree to make money trading the markets. Let’s be clear, to trade the global markets you don’t need previous experience in finance. Trading is an opportunity that exists for just about anyone these days, and it has gained popularity year by year. Thanks to advances in personal computing and internet connections, the global market is readily available to anyone with a credit card or eWallet. And, with the creation of mobile trading apps, trading has become more than just a chance to make money from home. Whether part-time or full, being a trader has become an exciting activity and opportunity for many people. These traders check the markets and place orders daily, and they enjoy this unlimited access anywhere, anytime. And the best part about getting started these days is that you can practice risk-free on a demo account. After a while, once your confidence level rises, you can trade at increasingly higher levels, all the while keeping within a budget that matches your financial situation and future goals. Too good to be true?