GSI Markets offers traders an exciting range of trading tools that can help them enhance their odds of success in the markets. Learn more now.
Success in forex trading can be linked to many factors: discipline, strategy or even luck. Nevertheless, traders can possess all these elements but without the use of appropriate tools, success will be even harder to achieve. GSI Markets is aware of this and it is why they offer traders a complete toolbox to make their trading activity as effective and efficient as possible.
Here are some of the most important tools smart traders must have in their toolboxes:
The economic calendar is a tool that outlines all the major economic news that may impact the various currencies in the forex market. The economic calendar will show the level of impact any specific news release will have on the market, analysts’ expectations, and the specific time of news release as well as the actual data released in real time.
High impact data (like the US Nonfarm Payrolls) will always result in more violent price movements than low impact data (like the US natural gas storage). The economic calendar ensures that traders are always aware of any major news releases scheduled for any particular day or time, so they can efficiently plan their trades.
There are many ways to avoid losses in the forex market; but to a trader, education should be the most important one. Educational tools help traders to build their knowledge of the markets, to increase their trading skills and techniques, to understand and acquire the right trading mindset and psychology as well as to develop their own customized strategies that suit their individual personalities.
GSI Markets reviews the latest tools and market information regularly and has a comprehensive educational center, packed with numerous eBooks and videos that contain information on various trading aspects, ranging from basic knowledge (such as forex terminology) to advanced strategies (such as inter-market analysis). The brokerage firm also organizes frequent live webinars where traders can glean from the experience and knowledge of seasoned financial markets professionals.
This is expert analysis of market news, data and information. While most traders use technical analysis to generate trading signals, it is a well-known fact that high probability trades are those that are backed by both technical and fundamental analysis. There are many economic reports released on a daily basis, but piecing and deciphering every single fundamental macroeconomic data can prove to be a very daunting task for many retail traders. This is why GSI Markets provides its clients with daily market reports that analyze and discuss the underlying macroeconomic conditions and the potential impact they will have on different currencies. Traders can use this information to gain perspective of the current happenings in the market so as to efficiently plan their trading activity.
All in all, when trading online, traders should ensure they use the right tool, for the right reason, the right moment and in the right mindset.
Be a smart trader and always carry your GSI Markets toolbox!