Well, another great day of trading. Our resistance level of 1.8900 held beautifully at around 3:30 am EST. In fact, the high on Cable on our trading platform was 1.8906 up until the news releases began

Nothing affects your profitability more than the spreads offered by your Broker. But spreads in the Forex charts spot market can be confusing to understand, and the marketing from many brokerages can be deceiving.

We had another great trading night last night. Based on the resistance and support levels we discussed last night we entered our trades @ 1.7460, and we were able to close the trades for 120 pips @ 1.7420 and 1.7380.

Many traders are overwhelmed by the size and intricacy of the FOREX market, and yet a knowledgeable trader has the potential to realize profits in this market that is unmatched by any other.

Although there are many distinctive elements of the Forex market, there are three that can be highlighted as helping new traders learn exactly what the foreign exchange market is all about.

Investors and traders can trade currencies worldwide, in any trading zone, 24 hours a day, in today's foreign exchange market.

Let's start this week by looking at the end of last week. We mentioned that we are extremely cautious of Fridays. We generally don't trade, or trade less, on Fridays.

Alright, another night's trading has gone by and now we have a potential trade setup. First, though, let's go over last night. In case you have forgotten, we sat on the sidelines last night, so for us there was no trade. Now, to give credit where credit is due.

Wow, another great day of trading, and we missed 90% of it. We took our short at 1.9000, which we called yesterday, and closed it for a 40 pip profit right before the release of news at 7:30 EST.

When learning to read forex charts, remember that there are two basic approaches for online forex trading.