Become a successful Forex trader using Forex Factory
Whether you are fresh investor or a professional Forex trader, one of the best opportunities to get maximum return is trading via Forex Factory, the 2,962th worlds’ most popular web-site in English providing exclusive market intelligence.
Launched in 2004 the Forex Factory website is indeed a great resource for all categories of traders. Here you get to see numerous trading forums, statistics on trades, all news that may have impact on the market, calendar section, description of current situation on Forex market (abilities and possible failures) and long list of the reliable brokers with their trading results.
The Forums is one of the best offerings and the most notable products from Forex Factory as it is one of the busiest online Forums in the financial world today. Traders from every corner of the world can be found interacting on the forums, sharing ideas, teaching, learning, debating, and swapping real experience. You will be surprised with the variety of topics and kind of in-depth discussions which make these Forums a great platform to expand your knowledge base.
Forex Factory Calendar is undoubtedly one of the best and the most overall economic calendars ever created. This product is so innovative that it literally changed the very notion of financial calendars. This tool includes have impact ratings, adjustable time zones, detail views, filters, links to event sources, real-time data releases, economic charts and much more unique and useful elements that help users to undertake profitable trades.
The Forex Factory news was instrumental in completely changing the presentation of Forex news to traders and money market dealers. The News product introduced an entirely new concept of Forex news as tidings structure is built to accept any story posted on the website from the variety of sources including all members. However, the tight control by the Forex Factory highly experienced editorial team makes sure that false news or falsely reported news does not make it to the readers.
There are three main innovative elements of the Market product: Scanner, Chart, and Sessions. All three are powered by Forex Factory's Market Data Application (MDA), a complex infrastructure created from scratch to consolidate data from multiple brokers in real-time. This assures that traders get the best real time rates closest to the actual numbers. MDA or the Market Data Application is also known as the True Pricer as it can be used to benchmark prices from many separate operators and bring in a more centralized rate for money market dealings.
The next most important feature of the Forex Factory is definitely the Trade Explorer. It is a web-based interface that empowers traders to intelligently analyze their Forex trading performance and makes trading process easy. It facilitates potentially a seamless trade that can be analyzed in a rather intelligent way and offers the potential trades that might be taken in the nearest future or even now. Moreover, the trade explorer is automated in a way that it synchronizes with the brokerage account connected with it.
It is absolutely clear that the biggest advantage of using Forex Factory is the relatively real time rate that they offer. The Trades product shows real-time trades made by members who opt to make their data publicly viewable, and the Leaderboard shows which of them are getting the best return this month. In the Forex market dealings, this opportunity is extremely useful.
And finally, the Brokers product was created to help first timers glide through the Forex market and access brokers without a huge problem. The guide represents an innovative approach to the way traders go behind brokers, combining up-to-date information, extensive detail, and real-time spreads. From the four winds, this product is an advanced guide that is targeted to explain in very details various elements and challenges of being Forex market brokers.
Forex Factory keeps adding new features depending on the various demands of changing trade dynamics and gives a unique opportunity to learn the best practice from such trading Guru as BillyRayVal and IronMan successfully trading at Forex Market for about 10 years and generously sharing their rich experience. Their blog describe probably the best winning strategy called “No Brainer trades”. This strategy provides a very high winning percentage rate, uses no indicators, and is simple to learn and follow. This technique uses nothing more than support and resistance, with other methods allowing for possible trend-riding along the way. It is what the big players do; therefore, it makes sense to be doing it as well.
Areas of support and resistance hold because unlike other methods, anyone trading in any timeframe can look at a chart and see where price has reacted many times in the past, or what will be a “no brainer” in the immediate future. Any level is subject to a breakout on reaction of Forex news, or other various influences. It is important at all times to gauge the current market conditions in good judgment decide whether or not the level should hold or bust. This strategy is proven to make a profit from +20 to hundreds of pips, so the success rate is very high.
Take your time and dive deeply into Forex Factory trading environment with unmatched professionalism and productivity to become a serious player in the money market.