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EarnForex.com Monthly Newsletter
| | | | Welcome to the latest issue of EarnForex.com newsletter — December 2014. In this issue of EarnForex.com newsletter, I will remind you about the most important Forex-related events of the last month and will also show you the list of the site's latest updates. | | EDITORIAL: Importance of Math | | You do not need to be a mathematical genius to be a successful Forex trader, but you definitely need to be a mathematically literate person for that. Although many people study math at school, it is sometimes difficult for them to apply the obtained theoretical knowledge to real life situations that arise during the market operations or when dealing with other trading industry participants (e.g. various scam sellers). You should really understand how to apply the following concepts to real-world problems if you plan to be a Forex trader: - Fractions and percentages — you probably know them already, but you need to know how to apply them properly. A good example of bad command of percentage calculation is when someone claims that increasing a $10,000 starting balance to $100,000 is 1000% profitability.
- Probabilities — everything you deal with in trading is based in probabilities. You should master at least the basic concepts and laws.
- Statistics — traders who do not plan to do a lot of trading system testing and analysis need only the beginner's staff. I still recommend to delve into this field a little deeper than the basics because it can be very useful for a trader.
The problem of the lack of mathematical literacy is well covered in this article. If you need some good free sources for learning about the concepts listed above, I recommend Everything Maths and Khan Academy (if you prefer videos over text and images). | | Overview of the major currency pairs' performance in November | | EUR/USD — was mostly flat during the month but demonstrated a slight downward momentum. It was at the maximum at 1.2599 on November 19, at its minimum at 1.2357 on November 7, finishing the month at 1.2450. GBP/USD — dropped significantly but bounced near the end of the month. The highest monthly rate was at 1.6021 on November 5, while the lowest — at 1.5590 on November 19. GBP/USD finished November trading at 1.5640. USD/JPY — rallied during the first 20 days of November; corrected afterwards. The pair rose to as high as 118.97 on November 20, reaching a bottom at 112.57 on November 3 and closing the month with the 118.59 rate. EUR/JPY — behaved similarly to USD/JPY but with a much stronger correction. The monthly high was at 149.12 on November 20, the monthly low — at 140.39 on November 3. Trading ended at 147.65 for this currency pair. GBP/JPY — demonstrated a generally bullish trend with a lot of volatility and spikes. The maximum level for this pair was 186.12 on November 20, while the minimum — 179.63 on November 3. The month's trading ended at 185.40 for GBP/JPY. | | Fundamental background of the past month |  MFX Broker introduces beta-version of the new site MFX 2.0 — an intellectual social trading system! Today MFX Broker opens new opportunities in the filed of FX social trading. We have united all most effective ideas into one complex social system which combines trading and communication by opening infinite possibilities for your profitability and success. Watch MFX World of Social Trading or visit MFX 2.0 beta website. Nearest time MFX Broker will introduce full version of MFX 2.0. Follow the news. Visit MFX Broker official website to learn more. | | Interest rate changes in November | | China | 6.00% | -0.40% | 5.60% | | Iceland | 7.00% | -0.25% | 6.75% | | Indonesia | 7.50% | +0.25% | 7.75% | | Romania | 3.00% | -0.25% | 2.75% | | Russian Federation | 8.00% | +1.50% | 9.50% | | | Top 5 Forex brokers of the last month | | Two new Forex articles have been published on EarnForex.com since the last issue of the newsletter: You can always browse the previously uploaded articles. | | Five new Forex brokers have been added to EarnForex.com since the last issue of the newsletter: - DenForex — an IB company of Admiral Markets. It is based in Russia and is not regulated by any authority. The broker offers MT4 platform, high leverage and low minimum to start trading.
- FXMoneyWorld — a Belorussian broker that is actually registered in Belize. They offer MetaTrader 4, medium leverage and $250 minimum account size.
- AlumFX — an FCA-regulated company from the United Kingdom. It offers MT4, Currenex Classic, and Currenex Viking accounts with 1:100 maximum leverage. The minimum account size is $200 for MetaTrader and $10,000 for Currenex.
- GDMFX — a broker registered in New Zealand. It offers MT4 trading platform and caters for spot and binary option traders. The minimum to start trading is $100, while the leverage is maxed at 1:500.
- Forexite — a genuinely offshore company with a very low minimum account size ($1) and a custom trading platform (TradeRoom). They offer only currencies for trading and have leverage fixed at 1:100.
You can always view our full list of Forex brokers. | | There were the following important Forex industry news since the last issue of the newsletter: | | Until the next newsletter issue! | | That is all for the December issue of the EarnForex.com newsletter. If you have questions, comments or just want to see something else in the next monthly issue, please let us know. | | |
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