Articles

Future Trading Introduction

A Brief History

In the 1840s, Chicago had become a commercial center with railroad and telegraph lines connecting it with the East. Around this same time, the McCormick reaper was invented which eventually lead to higher wheat production. Midwest farmers came to Chicago to sell their wheat to dealers who, in turn, shipped it all over the country.

He brought his wheat to Chicago hoping to sell it at a good price. The city had few storage facilities and no established procedures either for weighing the grain or for grading it. In short, the farmer was often at the mercy of the dealer.

1848 saw the opening of a central place where farmers and dealers could meet to deal in "spot" grain - that is, to exchange cash for immediate delivery of wheat.

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Effect of Interest Rates on Forex Markets

Forex rates are always on the move. When traders are new, sometimes the moves seem mysterious and random. Many things affect the movement of exchange rates between countries. One thing that is always an underlying factor that is constant is the interest rate of a currency. In general, it's considered good practice anywhere to gain interest on your money. People all over invest in money market funds, and bonds, and all types of investment instruments that offer paid interest in return for the use of the money.

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What Forex Traders Need to Know About GDP

The Gross Domestic Product or GDP fundamental economic indicator is one of the most closely watched indicators used by forex traders. Furthermore, both the influential data's initial release and its subsequent revisions can often result in wild swings in the forex market.

The level of the GDP is commonly used by economists and fundamental traders to assess the level of growth and economic health in a country's economy. The data can also be used to provide a sense of the standard of living prevailing in a nation.

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Tips for Selecting a Forex Broker

There are a large number of forex brokers in the retail forex market these days, each touting its services as the best in the entire market. For profitable and successful trading, it’s important to make sure the one you choose is safe and the best fit for your trading needs. We will take a look at the critical factors to consider before you entrust your hard earned money to an online broker.
*Spread
Spreads are extremely important for forex traders. Spreads can either be “fixed” (a set number of pips between the buy and sell rate) or “floating” (which can vary based on market conditions). Floating spreads are typically tighter than fixed spreads. Choose the broker which offers one of the more competitive spreads in the market
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MetaTrader Order Management

Every trader should know how to quickly modify or cancel an existing order. This can be done on the MT4 platform by following the example below.

 

Today we are going to learn how to modify and close this placed order. Let’s start with the limits that we can set to an order

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