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Basics of Forex

Forexmonopoly is a Forex Market educational and trading firm. We have been trading the Forex Market since quite some time now and have noticed that traders that are just starting out in their trading journey have a hard time learning the skill. Hence by the medium of this blog we intend to help such traders. Due to the attention that the Forex Markets gets because of its volatility and price swings, many traders start out their trading journey by trading in the currencies hoping to...

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What is a Lot in Forex Trading? Types of Lot Sizes

From the beginning of our civilization, we humans have assigned certain units to everything we buy or sell. Everything from gasoline to gold is measured in a certain unit and we buy or sell them in those particular units. Consider you go out...

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What is Slippage? How to Avoid Slippage in Forex Trading?

Many times, when we place a trade using market execution order on the trading platform our trade is not instantly executed and when it gets executed we see that the price at which the trade is executed is not what we decided to enter...

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What is Bid rate and Ask rate in Forex Trading ?

Whenever we look to buy or sell currency pairs in the forex market, we see two rates in the market watchlist section. If we open up the quote terminal of any currency pair on any trading platform...

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What is Base Currency and Quote Currency in Forex Trading?

When you first go and see a forex chart or the market watchlist section on the chart, you see a quote that consists of two currencies. That is because in forex market currencies are traded in pairs. And When you buy one currency,...

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Trending and Ranging Market – Types of Forex Market

Advertisement Trending and Ranging Market – Types of Forex Market Types of Forex Market. Understanding what the price is doing is an essential aspect of forex trading. Depending upon the type of forex market, we can get into a trade differently. So, it...

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What is Divergence ? Guide to Divergence in Forex

Advertisement Divergence I am not a big fan of indicator trading, and I prefer using price action over indicators. But, divergence is one single indicator based setup which I always consider using. I have used a lot of indicators and learned a lot of...

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The Big Gold Rally (2020)

Gold has surged around 15%, 2100 pips to be exact, from the last time we posted a blogpost on it. 3 months back we posted an article on how to make 4000+ pips by trading gold. Each and every student of ours and...

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Backtesting - The Key to Expertise in Forex Trading

A successful person is an expert in whatever he does. A lot of practice is needed to succeed in something you want. Likewise, a successful trader is an expert. He understands each and every aspect...

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What is MACD in Forex ? MACD INDICATOR EXPLAINED

What if we told you that MACD (Moving Average Convergence Divergence) is a momentum oscillator but it does not provide overbought and oversold levels and is rather used to trade trends. What? A momentum oscillator for riding trends? Yes, you read it right. MACD is...

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How to deal with forex loss in trading career?

How to deal with forex loss in trading career? Consecutive losses can be too annoying and almost every trader goes through this once in his trading career. Too many losses cam lead to many psychological problems like lack of confidence in the trading system,...

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Emotional Trading

Emotional trading. Mastering the psychological elements of trading is an immensely important yet the most neglected aspect of forex trading. Very few traders consider emotional trading to be an important aspect of forex trading. And the traders who have mastered trading emotions...

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Forex Part Time - Can Forex be done Part Time?

We understand that not everyone can dedicate their entire days to trade forex. Some have full time jobs or college or some have prior commitments which require them to give a major part of the day leaving only a couple of hours if not more for pursuing something part time. So, can you trade in the Forex market part time? Let's discuss the same in this blogpost. In this blogpost we will tell you about 3 essentials of part time forex trading...

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Why most Traders Fail?

It is widely circulated information that only 10% of the total number of traders are successful ones while 90% of the traders that look to profit from the price movements of financial assets on the financial markets are unsuccessful in their pursuits. There is no denying the fact that there are way more unsuccessful traders than those that are actually successful...

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Is Trading Gambling?

The profession of trading comes with a lot of social stigma around it. To anyone who is not aware of how the financial markets work and how prices of assets move, a financial market will seem as good as casino and these people will look up to financial traders as gamblers. But is this really the truth? Are traders...

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How long does it take to become Successful in Trading?

The wild swings in prices of currency pairs attract lots of fellow individuals to participate in the forex market. Individuals are not just attracted to the forex market but all the other financial markets that are available for buying and selling of financial assets. There are lots of factors that play significant roles in being successful..

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Forex Scams: How to Spot Forex Scams?

The forex market has never been more accessible to the general public. With the rise in attention towards forex trading, came a rise in several forex scams. There are several types of scams that are targeted at individuals and unfortunately these scams are successful at times in their pursuits. In this blogpost we will discuss about the most common forex scams that are being run and we will tell you 3...

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Trading as a Business

For some, trading is a full time activity and they depend on their trading profits for their day to day expenses, while for some, trading is a part time activity and they look up to profits earned from trading as an additional income stream. It is quite probable that some individuals treat trading as an extreme sport and indulge...

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