According to the relative strength index (RSI), overbought or oversold conditions in a market are commonly indicated by this indicator. Using the RSI Forex, an intraday trading strategy can be created to make the most of indications from the market that it is overextended and may retrace. Technical indicators of oscillators such as RSUI indicate overbought conditions when the value of RSI readings exceeds 70 and indicate oversold conditions when RSI readings fall below 30. Some Kenyan traders and analysts prefer the greater extremes of 80 and 20. A weakness of the RSI is that it is prone to false signals when it spikes repeatedly up or down due to sudden, sharp movements in price. However, if they show aread more
Forex Trading Course
When you consider venturing into forex trading you should seek help in the form of a well-structured forex trading course.
You can succeed or fail in the forex industry depending on your level of education and knowledge.
“Knowledge is Power, Power provides Information; Information leads to Education, Education breeds Wisdom; Wisdom is Liberation. People are not liberated because of lack of knowledge.”
– Israelmore Ayivor (inspirational writer, blogger and speaker)
Put in the time and you will be rewarded
No, this is not some old saying, or without meaning or effect!
Successful traders live by this saying and they are reaping the benefits on a daily basis trading the financial markets.
Financial freedom is every trader’s goal. Everyone’s definition of “financial freedom” might be different.
Each and every successful trader started out right where you are now!
Take this forex trading course one step at a time to make it meaningful, although it can seem overwhelming at times.
Education first! (we add fresh content daily)
Lesson 1 Starts Below
In Kenya, supply and demand for Forex drive price fluctuations. In a booming economy, the Kenyan market price rises as buyers outnumber sellers. The market price will move downward when more sellers come on the scene than buyers. The Kenyan market will range when sellers and buyers are more or less evenly matched. It is possible to analyse naked charts using these simple concepts to determine how the price might develop. Because past prices determine the current price, this style of technical analysis is very simple but incredibly effective. It allows for identifying an entry price, a supply zone, or a demand zone by analysing past prices. Take-profit and stop-loss levels are also readily apparent. SD provides a good profitsread more
Support and resistance levels in Forex trading are undoubtedly two of the most widely debated aspects of technical analysis in Kenya. They refer to price bands on charts that typically act as barriers for asset prices, preventing them from being pushed in a particular direction. Therefore, when used by Kenyan traders, these terms are included in their analysis of chart patterns. Though it may seem simple at first, the concept of identifying these levels is more complex than it appears based on the fact that support and resistance can take many forms. Explore more about support and resistance in Forex trading below! Support and resistance defined When a downtrend pauses at a price level with a sales or buying interestread more
The best time to trade currency is something one may want to consider when trading forex. For example, is there any best time to trade forex in Kenya? The question of how to handle forex trading times is a common one, but new traders often do not know the answer. Especially for beginners, choosing the optimal forex trading hours can be difficult. How exactly do forex market hours or trading hours work? This term has a variety of meanings depending on who you ask, including brokers and forex traders! Throughout this article, we will define to the best of our capabilities when the best time to trade forex is in Kenya. There will also be answers to some burning questionsread more
There are many ways to trade currencies that choosing common methods can save time, money, and effort. For example, traders can determine when to trade based on the head and shoulders, candlestick, and Ichimoku forex chart patterns. Even though these methods might seem complicated, they can be broken down into simple elements that take advantage of the most commonly traded elements within each of these patterns. The following two chart patterns, which occur regularly and provide relatively simple trading methods, are among the most common; a head and shoulders chart pattern, followed by a triangle chart pattern. Currency chart patterns in Kenya are historical patterns in price behaviour for a particular currency pair. Chart patterns can be confusing, and manyread more
It has been increasingly recognised that forex indicators are essential when trading on the forex market in Kenya. Many forex traders use this indicator to help them understand what the market is doing and when it is an appropriate time to buy or sell. A forex indicator is a vital component of technical analysis, and every technical analyst or fundamental analyst should be familiar with them. In this article, we will show you the 10 most important forex indicators. Considering how important indicators are to the forex market, every technical and fundamental analyst should know how most commonly used MT4 indicators work. These are the top ten forex indicators every trader should know. What are forex indicators? Forex traders inread more
The exchange of currencies takes place at the foreign exchange market. Currency is necessary both domestically and internationally to purchase goods and services. In addition, global trade is facilitated by currency exchange. All of these things happen in forex trading, and this article will explain the question: “How does Forex trading work?” Buying and selling FX pairs is simple in today’s forex market. The software trading platform provides various tools that allow traders to conduct detailed analyses and execute trades easily. A number of the most powerful features include advanced charting applications, technical indicators, and various order types. The modern market makes foreign exchange trading easy, so it doesn’t matter whether you’re a day trader or a long-term investor. Howread more
Trading by using the Forex scalping strategy means taking control of very small changes in currency pairs to achieve small profits. The traders involved in scalping are called scalpers. For example, the scalper in Kenya usually buys a currency at a bid price and sells it at the asking price. This way, the scalper makes both a bid and an ask profit. Generally, scalpers earn a small amount at a time, but they have accumulated a large sum at the end of the day. Forex scalping in Kenya requires an extremely good and well-developed strategy for making profits; a loss can ruin all the small profits. Moreover, the trading game of scalping forex is second-based since the trader has toread more
A foreign currency swap in Kenya also referred to as an FX swap, is a negotiation between two foreign parties to exchange currencies. By using the agreement, the principal and interest payments of a loan made in one currency are exchanged for a loan of equal value made in another currency. Thus, an entity borrows currency from another entity while at the same time lending that entity another currency. Swapping takes place when you hold an open position overnight in Forex. The amount credited or debited to your account depends on the direction and trading pair of the trade. So let’s move straight to the overview of swap in Forex trading and how you can use it to make aread more
Forex brokers offer some traders the opportunity to start trading as little as $1, but trade with a broker offering nano or micro lots; you will need to deposit at least $12 or $120. If you want to start trading, you will need money depending on your broker’s minimum deposit required. You may also need to consider minimum position size, maximum leverage, risk management strategy, trading style, average stop loss required, and overall financial situation. A Kenyan Forex broker who is CMA regulated is the best way to trade Forex in Kenya. Forex trading through a regular bank account or money changer is too slow and costly to be realistic. Therefore, we must first know how much I need toread more