What is Forex Trading and How Does it Work?

What is FOREX trading and how does it work? Forex, or foreign currency exchange, is the largest trading market in the world, averaging a turnover of US $5.9 trillion per day. Trade Forex refers to the simultaneous buying and selling of currency pairs, traded against one another. For example, USD/GBP would be a pair consisting … Read more

5 Cardinal Rules to Remember When Trading Online Forex

Over 90% of the people who start trading online forex in Kenya get their accounts wiped out in less than six months. However, you do not have to become part of this statistics. You can trade forex in Kenya and become as profitable as you wish to be. However, for that to happen, there are … Read more

Forex Trade Risks and Pitfalls: Part 2 (Volatility)

This is the second part of our forex trade risks and pitfalls tutorials. You can read the first part of this series here. If you would like to continue receiving tips on how to trade forex in Kenya, consider joining our newsletter. Understanding Volatility and How it Poses a Risk to Your Account Just like … Read more

Beginner Tips and Tricks for Trading Forex on a Demo Account

The best way for beginner forex traders to become acquainted with the forex market is to trade on a demo account. But where do you get a free demo account to practice trading? Don’t sweat the small stuff. Many forex brokers offer a free demo/practice account. To access the demo, you only need to sign … Read more

Are these 3 Demons Haunting Your Forex Trading Strategies?

You want to be a successful forex trader. You want to retire from your 9-5 job and enjoy working from anywhere in the world. You want to spend more time with your family, and you want to provide your loved ones with the kind of lifestyle that they deserve. Trust me. All this is possible … Read more

How Do You Remove Emotions From Trading and Become a Disciplined Trader?

Everyone says that psychology is the most important part of trading. So if trading is 80% psychology, what makes up psychology?  I believe psychology can be broken down into two parts:  patience and discipline. This article focuses on discipline, and why it is so essential to your trading success. One of my mentors once told me: ‘If you … Read more

Is Forex Trading Worth it? Powerful Motivations to Keep Trading

Is forex trading worth it? This is one of the most common questions we get through our contact form. There are a few other common questions that we get asked now and then. So, in addition to answering whether investing in forex is worth it, we will also be looking at the other 6 commonly … Read more

different types of forex brokers

There are 5 Types of Forex Traders- Which One Are You?

I have had the privilege to tutor many intermediate and beginner forex traders in Kenya. Almost all the traders I have dealt with ask one common question: “What should I do right now, should I buy or sell?” The question reminds me of when I first started trading online forex. The truth is that there … Read more

Master your Mind, Develop the Perfect Trading Discipline

Every successful forex trader needs a set of skills and characteristics. Some of these skills we can acquire through training while others we can only develop from constant practice, which is why a demo account comes handy. The ability to understand the fundamentals of a currency and the ability to point the direction of the … Read more

LEARN HOW TO CONQUER THE MARKETS WITH YOUR PSYCHOLOGY

[Revised and Updated for 2021]
Download this free eBook to learn how succeed with forex using the power of your mind
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Written by Patrick Mahinge, CEO, Kenya Forex Firm.
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