ඉතා සරලව කිව්වොත් ඔයා කරන්නේ අතරමැදියෙකුගේ වැඩක් වගේම දෙයක්.
ඔයාගේ වෙබ් අඩවියේ ඔයා පරිගණක උපාංග දාලා තියෙනවා කියලා හිතමුකෝ. දැන් කෙනෙක් ඇවිත් ඔන්ලයින් ගෙවලා ඔර්ඩර් කරා කියලා හිතමු පෙන් ඩ්රයිව් එකක් Rs 2000 වගේ දීලා . දැන් ඔයාට තියෙන්නේ හොද Aliexpress සෙලර් කෙනෙක් හරහා ඒ ජාතියම පෙන් ඩ්රයිව් එකක් ඔර්ඩර් කරන එක අර ඔයාගේ වෙබ් අඩවියට ආපු කෙනාගේ විස්තරේ දාලා ( හිතමු ඔයා ඒක 1500ක් ගෙව්වා කියලා ). Aliexpress සෙලර් ඔයගේ කෙනාගේ නමට ඒක යවනවා. ඉතින් ඔයාට නිකන්ම Rs 500 ලාභයි.
හැබැයි ඉතින් මේ වැඩේ එකින් එක කරන්න යනවා කියන්නේ වැඩේ අල වෙන එක 😀 . මේ Aliexpress drop shipping plugin එකෙන් ස්වයංක්රියවම බොහොමයක් වැඩ කරවගන්න පුළුවන් ක්රම දෙකක් තියෙනවා. ඉතින් අපි බලමු මොනවද මේ දේවල් කියලා.
මේක ඉතින් ලාබයි. ඔයාට කරන්න තියෙන්නේ වෙබ් අඩවිය හදාගෙන ඒකට මේ ප්ලුගින් එක දාගන්න එක. වෙබ් අඩවිය හදහන විධිය ඉගෙන ගන්න අපේ Blog making in Sinhala ලිපියෙන් ( එම ලිපියේ 5 සහ 7 වෙනි කොටස් අදාල නෑ හොදේ ). ගන්න ඉස්සෙල්ලා ඩෙමෝ එක පහත ලින්ක් එකෙන් නොමිලේ පාවිච්චි කරලා බලන්න පුළුවන්.
ඔයාට පහත තියෙන වීඩියෝ එකෙන් ප්ලගින් එක යොදාගෙන වැඩේ කරන විදිය ඉගෙන ගන්න පුළුවන්.
ඕනෙම වියාපාරයක් කියන්නේ යම් මට්ටමක අවධාමනක් තියෙනවා කියන එක. මේකත් සාමාන්ය මට්ටමේ අවධානමක් ~ ලාභයක් තියෙන වියාපාර ක්රමයක් කියන එක මතක තියාගන්න හොදේ.
සැමවිටම ඔබ භාණ්ඩ ගන්න රේටින්ග් හොද සෙලර්ලාගෙන්.
ඩිලිවරි කරන දවස් ගණන සෙලර් දවස් ගණනට වඩා වැඩියෙන් වෙබ් අඩවියේ යොදවන්න.
පේපැල් හෝ විශ්වාසවන්ත ගේට්වේ ( Payment gateway ) එකක් පාවිච්චි කරන්න සල්ලි ගන්න ඔයාගේ පාරිභෝගිකයන්ගෙන්.
ඔබ මිල සදහන් කරදී ඔබට ලාභයක් ලැබෙන විදියට මිල යොදවන්න.
ජනප්රිය බඩු මුට්ටු විකුණන්නන බලන්න.
ඔයාට ෆොරෙක්ස් කරන්න පුළුවන්. ඒක ඉහල අදායමක් උපයන ක්රමයක් ( ඒවගේම ඉහල අවධානමකුත් තියෙනවා ). ඔයාට Forex Sinhala Tutorial ලිපියෙන් ෆොරෙක්ස් ට්රේඩ් කරන ආකාරය ඉගෙන ගන්න පුලුවන්. ඒවගේම Bo වලිනුත් ඉහල අදායමක් හොයන්න පුලුවන් ( මේකෙත් ඉහල අවධානමකුත් තියෙනවා ).
ජය වේවා ! 😎
Prathilaba June 18th, 2019
Today will learn about how you can do drop shipping as one of the online jobs in Sri Lanka using Aliexpress drop shipping plugin. It is one of the popular method worldwide and a good way to earn money online in Sri Lanka.
The process is simple. Customer place an order in your website. Then you get the details of that order by the customer and place the same order in Aliexpress ( or any other place where you can get it at a lower price that will deliver the item ). The Aliexpress seller will then deliver the product to your customer. So you are the middleman making a profit with the price difference!
So in order to do it, you need an automated system to make life easier for you. Aliexpress dropship plugin does it for you. So It is a pretty straight forward method. The good thing is these guys offer you two ways to get online as soon as possible. So let's see them, one by one.
One is they offer a ready-made solution so that they will be making your website and you don't have to know anything related to technical stuff. It is available as three packages ( You can choose and use any of the packages depending on your requirement )
Then you can import the products from Aliexpress to your store and start your Aliexpress drop shipping business in Sri Lanka or worldwide. You can refer below video to learn step by step instructions too.
Almost any business carries a certain level of risk. Same applies to dropshipping too. It is kind of a medium risk ~ medium reward business model.
So one important thing that you should remember is to choose highly rated ( So obviously those will be best sellers too ! ) sellers and only import products from them. The reason is a customer is only placing the order from your store while it is the Aliexpress seller that is delivering your item to that seller ( once you place the order you got at Aliexpress manually or using the automated process in the plugin ).
In your website, make sure to add more days for delivery than what you see at Aliexpress ( eg if your seller delivers the good in 2 weeks, you better put additional days to be on the safe side )
Have a reliable payment method to collect payments from customers such as Paypal or Online card gateway.
Make sure you add enough margin to goods to make sure you make a profit!
Choose popular products so that it will be easier to sell than non commonly used products.
Yes, you can find many ways to make money online using our website. For example, A high reward ~ high-risk model earn money online method is Forex. You can try Forex trading in Sri Lanka using one of the popular brokers from Regulated Forex Brokers in Sri Lanka. Then another method is to trade BO using a Regulated Fx broker. Generally, Forex is high risk so invest only what you can afford to take a risk.
Good Luck ! 😎
Prathilaba June 17th, 2019
Tags: AliDropship demo, aliexpress dropshipping in sri lanka, dropshipping, dropshipping earn money online, dropshipping in sri lanka, dropshipping sri lanka, forex brokers Sri Lanka, forex trading in sri lanka, how to do dropshipping sri lanka
නුතන තාක්ෂණය නිසා ලෝකය විශාල වශයෙන් වෙනස් වෙමින් තිබෙනවා. ඔබ අන්තර්ජාලය නිතරම භාවිතා කරන්නෙක් නම් හෝ මුහුණුපොත වගේ නිතරම පාවිච්චි කරන කෙනෙක් නම් මේ වන විටත්. ඔබටත් එක තේරිලා ඇති. ඉතින් රැකියා වෙලදපොලත් ඒ වගේම වෙනස් වෙමින් තිබෙනවා. බොහෝ දේවල් නිවසේ සිට කරමින් ස්ථාවර ආදායම් මාර්ගයක් කරගන්න පුළුවන් ඉඩ දැන් තියෙනවා. හැබැයි සාමාන්ය රැකියාවක් වගේ ඉවසීම සහ කැපවීම මේවටත් ඕන වෙනවා. ( නිකන් උඩ බලන් හිටියට සල්ලි ලැබෙන්නේ නෑ යාලුවේ ! 😉 )
හරි ඉතින් අපි බලමු නිවසේ සිට කරන්න පුළුවන් අන්තරජාල රැකියා එහෙමත් නැත්තම් ' work from home online jobs in Sri Lanka ' මොනවද කියලා.
ඔබට ලිපි ලිවීමේ, ඩිසයින් වැඩ, වෙබ් වැඩ, ප්රෝග්රෑම් වැඩ, වීඩියෝ සැදීම, උපදේශක සේවා හෝ නිවසේ සිට සැපයීය හැකි සේවා සපයන්න පුළුවන් නම් ඔබට freelancer කෙනෙක් විදියට Fiverr, Freelancer, Upwork හෝ එවෙනි වෙබ් අඩවියක් හරහා ඔබට සම්බන්ධ වෙලා වැඩ කරගෙන යන්න පුළුවන්. ඔබේ වැඩ හොදයි නම්, වෙලාවට වැඩ ඉවර කරනවා නම් සහ එහෙන් මෙහේන් කොපි ගහපුවා නෙමේ නම් අනිවාර්යෙන් නිතරම වැඩ මේ වෙබ් අඩවි වලින් ගන්න පුළුවන්.
ඔයාට පුළුවන් බ්ලොග් එකක් ලියන්න ඔයා දන්නා දැනුම භාවිතා කරලා, ඉන්පසු google adsense හෝ එවෙනි ඇඩ් නෙට්වර්ක් එකක් බ්ලොග් එකට එකතු කරලා මුදල් හොයන්න පුළුවන්.
How to earn money online with blogging in Sri Lanka කියන සිංහල ලිපිය කියවන්න වැඩි විස්තර සදහා. කරන්න ඕන හැම දේම වගේ ලිපියේ තියෙනවා.
IC Market Forex Tutorial Sinhala හෝ Tickmill Forex beginner guide sinhala කියන ලිපි ටික කියවන්න ට්රේඩින් බ්රෝකර් ආයතනයක ලියාපදිංචි වෙන විදිය, කොහොමද ට්රේඩ් කරන්නේ කියන දේවල් සියල්ල ඉගෙනගන්න. ( forex chart patterns සහ candlestick patterns ලිපි ටිකත් කියවන්න ).
තව දෙයක් තියෙනවා කියන්න. ෆොරෙක්ස් ට්රේඩින් කියන්නේ ඉහල අවධානමක් සහ ඉහළ අදායමක් උපයන්න පුළුවන් ක්රමයක් ඉතින් මෙහි තියෙන ඉහල අවධානම ගන්න පුළුවන් අයට තමයි මේක වඩාත් සුදුසු. ( උදාහරණයකට ඔබ $100 ගිණුමේ තියන් ට්රේඩ් එකකට ගියා කියමු. ඔබ අසාර්ථක වුනොත් ඔබට $100ම නැතිවෙන්න පුළුවන් හැබැයි සාර්ථක නම් $150 ~ $1000 වුනත් එම ට්රේඩ් එකෙන් හොයන්න පුළුවන් )
මේකත් ඉතින් ෆොරෙක්ස් වගේ තමා ඊත් ෆොරෙක්ස් වලට වඩා අවධානම අඩුයි. ( උදාහරණයකට ඔබ $100 ගිණුමේ තියන් $10 ට්රේඩ් එකකට ගියා කියමු. ඔබ අසාර්ථක වුනොත් ඔබට $10යි උපරිම නැතිවෙන්න පුළුවන් හැබැයි සාර්ථක නම් $18 - $20 ලැබෙනවා. ගිණුමේ ශේෂයට බලපෑමක් නෑ ෆොරෙක්ස් වල වගේ ). ඔයාට ලොව පිළිගත් Binary.com,හෝ Olymp Trade වගේ බ්රෝකර් කෙනෙක් පාවිච්චි කරලා ට්රේඩ් කරන්න පුළුවන්. BO Sinhala Tutorial හෝ Olymp Trade Sinhala Tutorial වලින් කරන්න ඕන ඔක්කොම දේවල් වගේ ඉගෙන ගන්න පුළුවන්.
මේකත් ඉතින් ෆොරෙක්ස් වගේම දෙයක්. ICMarket වගේ බ්රෝකර් කෙනෙක් හරහා USD/BTC වගේ ට්රේඩ් කරන්න පුළුවන්. මේකත් ඉතින් ඉහල අවධානමක් තියෙන දෙයක්.
ඔබට ලස්සනට DSLR camera එකකින් වගේ ෆොටෝ හෝ වීඩියෝ ගන්න පුළුවන් නම්.මේක තමයි ඔයාට හරියන නියම earn money online job in Sri Lanka. ඔයාට පුළුවන් Shutterstock, iStockPhoto, DepositPhotos වගේ වෙබ් අඩවි වලට ෆොටෝ හෝ වීඩියෝ upload කරලා ඒවා කවුරු හෝ මිලාදී ගැනීමේදී ඔයාට අදායමක් ලැබෙනවා.
ඔයා යම් දෙකට දක්ෂ නම් ඔබට පුළුවන් එම ශේෂ්ත්රයේ ගුරුවරයෙක් වෙන්න. අන්තරජාලය හරහා උපදේශක සේවා සපයන්න පුළුවන් Udemy වගේ වෙබ් අඩවි හරහා.
පොත් ලියලා සල්ලි හොයන්න පුළුවන් වගේම ඔයාට පුළුවන් ඊ පොත් එහෙමත් නැත්තම් ebooks පළ කරලා මුදල් හොයන්න. Amazon හෝ Ebay වගේ වෙබ් අඩවි තුල ඔබට ඔබේ පොත විකුණගන්න පුළුවන්. ඒවගේම ඔයාගෙම වෙබ් අඩවියකත් පොත විකුනන්න පුළුවන් ( බ්ලොග් හදන විදියම වගේ තමයි. ඒ ලිපියත් කියවන්න ).
ඔයාට පුළුවන් Aliexpress වගේ වෙබ් අඩවියක බඩුමුට්ටු ඔබේ වෙබ් අඩවියේ විකුනන්න අතරමැදියෙක් වගේ. මේකට ඕන වෙන්නේ ඔබේම වෙබ් අඩවියක්, මුදල් ලබාගන්න ක්රමයක් සහ Aliexpress drop shipping plugin එක විතරයි. ඔයාට ඕන බඩුමුට්ටු මේ ප්ලගින් එක හරහා ඔයාගේ වෙබ් අඩවියට import කරගන්න තියෙන්නේ සහ ඔබේ මිල ගණන් එකතු කරගන්න පුළුවන්. ඊට පස්සේ පාරිභෝගිකයා බඩුමුට්ටු මිලදී ගත් පසු ඔයාට තියෙන්නේ Aliexpress එකෙන් ඊක ඔර්ඩර් කරලා පාරිභෝගිකයාගේ ලිපිනයට යවන්න. ( අර ප්ලගින් එකෙන් මේක ස්වයංක්රියවම කරවගන්නත් පුළුවන් ). Dropshipping in Sri Lanka Tutorial
සමහර වෙබ් අඩවි වල ඔබ දැන්වීම් බැලුවහම ඔවුන් සල්ලි ගෙවනවා. නොමිලේ දැන්වීම් බලලා සල්ලි හොයන්න පුළුවන් Neobux වගේ වෙබ් අඩවි වලින්. සාමාන්යයෙන් $0.005 ~ $0.01 වගේ තමයි ගෙවන්නේ එක දැන්වීමකට.
ඒවගේම ගෙවීමක් කරලා ලියාපදිංචි වෙලා දැන්වීම් බලලා සල්ලි හොයන්න පුළුවන් තව වෙබ් අඩවියක් තමයි Futurenet. මේකේ ගෙවන ගණන අරකට වඩා හොදයි.
නුමුත් මේ ක්රම දෙක හරහා සැලකියයුතු මුදල් ප්රමාණයක් හොයන්න නම් strong downline එකක් ඕන වෙනවා.
ඉතින් මේ ටික තමා දැනට ඔයාට සර්තාකව earn money online කරන්න පුළුවන් ක්රම. තව ඒවා හොයාගත්ත ගමන් මේකට එකතු කරන්නම්.
ජයවේවා ! 😎
Prathilaba June 10th, 2019
Tags: Become an online consultant, best way to earn money online in sri lanka, Blogging in Sri Lanka, earn money online in sri lanka, earn money online sri lanka, forex trading in sri lanka, how to earn money online sri lanka, Online Forex Trading in Sri Lanka, Online Freelancer, online jobs for students, online jobs in sri lanka, work from home sri lanka
Today will learn about potential work from home online full time and part time jobs in Sri Lanka. Modern technology like high-speed internet connections, smartphones, tabs and laptops have made working from home easier than before. Even things like more and more businesses coming online mean more and more online job offer vacancies in Sri Lanka too.
So let's see a list of possible latest online job vacancies in Sri Lanka but remember that all these jobs do need hard work and patience. If you are already working and at least have some years of work experience then you may have an added advantage guys
If you are good at content writing in English or even local languages like Sinhala or Tamil you can become a good online content writer locally while if you know other languages like French, German or Mandarin ( or even any popular foreign language )you can find even more opportunities.
If you are good at graphic design, digital marketing or web designing, you can become an online IT freelance service provider easily. So basically not only those two categories but if you know any service that you can offer remotely, then you can do that too as an online freelancer.
Where can I find freelancer job vacancies in Sri Lanka as a full time or part time offer?
Online Local work from home job opportunities: First do some projects for your friends and family members ( if you don't have a big portfolio yet, this is going to be the best approach mate ). Then you will be able to get some more opportunities for sure. You can provide most of the local businesses your services from home nowadays ( just write to them via email and if they have an opportunity, they may get in touch with you ! ). So when you contact local businesses you might get full time or part time offers to work with them remotely! Never give up!
Online Overseas full time or part time jobs from home in Sri Lanka: This is the best part. 🙂 Once you have some work under your portfolio ( if you don't have any, why don't you do some sample work. So that you will be able to convince your potential customers ). You can join sites like Fiverr.com, Freelancer.com, Upwork.com ( formerly known as Odesk ) or similer freelance web sites and offer your services online from home in Sri Lanka! If you carefully look at those who are already providing services in those sites, you will notice that those who have good reputation tends to get more work than others. So build trust first by offering a good set of services without thinking about the costs for you. Once you reach around 10 - 20 completed tasks, you can slowly increase your fees.
Tip: Once you join the freelance sites for the first time, study how others that offer similer services have listed them self ( look at the profiles or service listing ). Don't copy them as you may get delisted but get an idea from them and make a profile using your own words ( You can find a good content writer from iwriter or from those freelancer sites itself in case you need some better articles )
You can start a blog on any niche (eg: If you are an architect, you can start a blog related to 'architectural guidelines for beginners' ). Include as many articles possible and then keep on writing at least weakly basis. Share them on social media ( also use newspapers or even tv commercials to promote it to get more traffic depending on your budget ).
Then get Google AdSense or similar ad network added to your website. Patience is the key to success in blogging in Sri Lanka. So basically you can do this as a work from home online part time jobs in Sri Lanka. It does not matter whether you do a government or private jobs in Sri Lanka. You can do this as a part-time to make some extra revenue at home.
Once you have enough income from it, probably then you can do it on a full time basis. You can refer our Blog Writing Guide in Sinhala article to learn it step by step as a beginner to blogging.
Also, you can write blog posts or articles for certain websites and make a revenue. Some may pay you a one time fee or a fee based on what they earn from that article. So try contacting reputable websites, blogs or any similar site and see whether they have any opportunity of that nature. If So, you can do it on a part time basis at home!
You can trade forex online using a reputable forex broker like ICMarkets, Pepperstone, Tickmill or any similarly regulated broker. Generally what you have to do is analyze the price movement of currency pairs or assets ( You can do it using forex chart patterns or candlestick patterns etc.. ), then place buy/sell orders.
The risk factor is high in these types of self-employed like online jobs but at the same time reward is high as well (eg: If you invest $100 per trade and say you are unsuccessful. You may lose up to all of that $100 ( as most brokers protect you from negative balances nowadays) but say you are successful, you might even get $150 ~ $1000 even depending on the price movement with that 100 dollar investment! ).
You can do it as a part time jobs from home initially and then when you are successful, you may do it on a full-time basis. One important thing is don't forget the risk factor involved. So practice in demo. Then invest only what you can afford to lose in case your analysis is not correct for each trade. You can refer IC Market Forex Tutorial or Tickmill Forex beginner guide to learn more about online trading in Sri Lanka. You can also refer Skrill beginners guide as you will need an e-wallet to receive your earnings!
Same like Forex, You can trade options online using a reputable broker like Binary.com, Olymp Trade or any similarly regulated broker while at home. The risk and reward factor in bo trading is also high. So trade only using what you can afford to lose. You can do trading as a part-time job-s in Sri Lanka during your free time.
You can trade crypto ( eg : BTC/USD ) online using a reputable crypto broker like ICMarket or any similar regulated broker. You can analyze the charts to make better predictions using chart patterns and candlestick patterns ( similar to forex and options ). Again remember that this is also a very high risk - high reward earn money online job method. So trade wisely.
Are you good at taking photos? got a high-quality DSLR camera? Then this is for you. You can take photos and submit to popular photography websites like Shutterstock, iStockPhoto, DepositPhotos and similar photo website. You will receive payments depending on the purchases made by users. You can try with photos taken using your smartphone or normal camera, if the photo size and quality are good. They may accept your photos too! A nice way to make passive income while at home in Sri Lanka !
You can upload videos to sites like Shutterstock and make revenue.
Photo / Video uploading is one of the good online jobs for students too in Sri Lanka. Many students in other countries tend to do this during free time.
Note: Make sure that you have the full ownership of the photo/video before uploading otherwise you may have copyright issues later on. So think wisely and do guys!
Many people need various one to one type of guidance. So set up a website using a freelance web designer in Sri Lanka and then include the consultancy packages/services that you offer. You can also start a Facebook fan page and group too to build your audience and get potential customers. Sectors that can be provided as consultancy includes healthcare, sales, marketing, business management, educational, pets, online trading, farming, industrial, Artifical Intelligence, Robotic, Crypto and many more!
You can offer consultancy services as a part-time job or full-time job in Sri Lanka. Some of the services you may be able to offer remotely using modern technology like Screens Sharing apps, communication apps like Viber, WhatsApp etc..
One more thing, You can offer your consultancy services via sites like Udemy too.
Similar to writing books you can write ebooks ( if you are already an author, you can start making online versions of your books and register them accordingly ). Then you can sell them on popular platforms like Amazon or Ebay. Optionally you can set up a website and start selling them directly.
You can easily start an online drop-shipping business. Ideal part time jobs from home in Sri Lanka for housewives or those who have free time. One of the good homebasework jobs for you. You can set up a wordpress website and then use the Aliexpress drop shipping plugin ( Optionally you can get the website also done with them ) to import the products that you are going to sell to your customers. Add your required profit margin on top of the original price.
How does the order process work in the drop shipping business? Customers place orders and then you can place orders manually or automate the order system so that customer order will be placed in Aliexpress as well. Order will be delivered to the customer by Aliexpress seller and you can keep the margin! The success of the store mainly depends on your customer service, chosen products, and reliability of sellers. So always choose products from best sellers whenever possible. Beginners Tutorial for Dropshipping in Sri Lanka
When you view ads on certain websites, they pay you.
Generally, the free paid to click websites pay very low amount like $0.005 ~ $0.01 per ad that you view. Normally these sites are good to make a side income only if you are good at building a strong downline. Example of a free site is Neobux.
Premium paid to click websites pay better rates for ads that you view but normally you have to buy ad packs etc... Same like free paid to click websites, these sites are good to make a side income if you are good at building a strong downline. Example of a paid ptc like a program is Futurenet. You can give it a try and see!
Well PTC or paid to view ads online is also a good work from home job in Sri Lanka if you understand the concept well and do it correctly =)
We will keep on adding more online jobs, as soon as we find them.
So hope these methods will help you to make money online as a home based part time or full-time jobs in Sri Lanka. Good Luck! 😎
Prathilaba June 5th, 2019
Tags: Become an online consultant, Blogging in Sri Lanka, forex trading in sri lanka, homebasework, job vacancies, job vacancies in sri lanka, jobs, jobs sri lanka, latest job vacancies in sri lanka, Online Forex Trading in Sri Lanka, Online Freelancer, online jobs for students, online jobs in sri lanka, online part time jobs in sri lanka, Paid to click, part time jobs, part time jobs from home, ptc, self employed, Sell Photos, Sell Videos, Start Drop shipping Online Business Sri Lanka, Start Drop-shipping Online Business, work from home, work from home sri lanka, Write ebooks
If you want to do forex trading in Sri Lanka, you would need to understand that economic indicators can have a huge impact on the currency market. Economic indicators show the strength and potential of an economy of a country. They provide you with a complete picture of an economy’s current and potential standing with factors like GDP and unemployment rate. Forex traders take interest in these indicators as these indicators help in comprehending the direction forex market might take in future.
A crucial news release related to economies around the world can lead to volatile situations in the forex market and force a specific pair of currency to move in a particular direction. It can be upward, downward, or sideways. Every week several news releases are made associated with various economic indicators and in today’s digital era, everyone can easily access the news and information to understand the mechanism of the forex market in the light of various economic indicators.
News pertaining to the economic indicators can have a huge impact on the Forex exchange. Given below are the main economic indicator news categories that you should know before entering into forex market:
Every month, several central banks around the world from different economies gather to decide about their interest rates. They decide whether to let the interest rates remain unchanged or raise the rates, or bring down the rates. These interest rates are very important and make a vast impact on the foreign exchange market.
When there is an increase in the interest rate, the market usually takes a bullish trend and that means there will be an increase in the value of the currency. On the other hand, when the interest rate is brought down to a lower level, the forex market is expected to take the bearish trend, which means that there will be a decrease in the value of currency price. For unchanged interest rate, the market can take any direction based on the circumstances of the concerned economy at that time.
Along with the change in interest rate, the policy statement is also released providing with the complete sum-up of the economy and what could be the future of the economy. In addition, the monetary policy of the economies is also declared, associated with the essential financial matters of the country.
The Gross Domestic Product is a very crucial factor representing the overall economic condition of a country. Basically, GDP is the total value of all goods and services that have been produced by a country over the course of a period of time like annually. GDP does affect the price movements of the currencies in the foreign exchange market.
When the gross domestic product of a country is not up to the expectations of the market, it can be said that the currency values might go down. Similarly, when the GDP of a country is beyond what the market has been expecting, the values of the currency is expected to move upwards. Th GDP figures are diligently evaluated by the forex traders as it also helps in recognizing or anticipating the future moves of the central banks.
GDP is also a very significant economic indicator as it helps in identifying the current situations of the business cycle of a country. The business cycle is kind of a combination of expansion and recession cycles. During the expansion phase, many sectors of the economy expand or grow together, and in the recession phase, the growth rate of those sectors starts to contract.
Thus, GDP is a leading factor is analyzing the foreign exchange market. As a forex trader, you must be aware of it and you must also understand that it is a lagging economic indicator which confirms the things traders are already expecting.
The consumer price index or CPI shows the cost of goods and services and is also recognized cost-of-living index. CPI helps in managing and controlling the rate at which prices of the good or services rise or fall. The CPI appraise the inflation rate (the rate at which the price of goods and services rise in an economy) which is a part of people’s lives through their everyday expenses. When there is any sign of a rise in the inflation rate, it means the central banks will have to increase the interest rates. Higher interest rates mean the bullish trend in the market.
When inflation stays inside the anticipated levels, it is regarded as a regular figure. Nevertheless, if inflation swerves farther from the target levels for a longer period of time than expected, it can result in a negative outcome for the economy.
CPI is a part of monetary policies, as a result, it can have a higher effect on prices in the forex market.
For a majority of forex traders, non-farm payroll or NFP is one of the most crucial indicators in the all the news releases that come out on regular basis like every month. The NFP report is released by Bureau of Labor Statistics (BLS) on the first Friday of every month. The BLS also declares the unemployment rate as a component of the Employment Situation Report. The report comprises of the data figures for the new jobs which have been created in the US together with some other labor market information. The data comprises of all the workers that have been paid, however, the data leave out the government workers, personal households, non-profit establishments, and agricultural industry.
The main reason behind why NFP is so important and is followed so industriously is because it has a propensity to bring substantial movements in the forex market.
It partly depends on the timing of the release of the report.
There is a close relation between employment rate and the business cycle. The changes in NFP or non-farm payrolls is quite similar to the changes in GDP on a quarterly basis. It means that NFP can be utilized as a proxy in place of GDP. The main difference between NFP and GDP report is that NFP is released on a monthly basis and GDP report comes out on a quarterly basis. In addition, while NFP reports the data of the last month, and GDP reports the delayed information. Apart from the connection between NFP and GDP, NFP report also has the impact on monetary policy of the economy and in which direction the policy will move.
The ADP National Employment Report comprises the economic data concerning the levels of non-farm private employment in the U.S.A. The report is released on monthly basis. ADP stands for Automatic Data Processing, which is also the firm that has been accumulating the employment data and preparing the reports since the year 2006. ADP gathers the data using the payroll facilities and services it delivers to the about 1/5th of the U.S. private employment.
The ADP report comes out two days before the NFP report released by the Bureau of Labor Statistics. Traders in the forex market look at the ADP report as a preview of the more extensive and elaborated reports that are released by the government.
The overall ADP report is categorized in 4 distinct parts:
One of the other reasons for why ADP is such an important indicator for forex traders is because if the employment figures show a continual and strong growth for a period of time, it escalates the inflationary rates and because of that, the Federal Reserve may also increase the interest rates and vice-versa. This will impact the forex market depending on the market situations and economy’s present and potential standing.
Even though the meetings of central banks from different economies are very crucial when it comes to economic indicators affecting the forex market price movements, the Federal Open Market Committee of America is also very important and its meetings have taken the center stage as the US Dollar is at the moment most powerful currency in the world.
Every month the FOMC meeting takes place in order to decide on rates and to provide information about present economic conditions, how effective the current monetary policy is, and what are future expectations from economic conditions and monetary policy.
FOMC meetings can have a vast impact on the volatility of the forex market. The Federal Open Markets Committee meetings are conducted eight times every year and the outcomes of these meetings are highly anticipated by the forex traders as these meetings can affect the demand and supply of the currency pairs in case the outcomes is not as expected.
The trade balance is the difference between the value of the imports and exports of the economy of a country. If the value of exports is higher than the value of imports, the balance will be positive. Similarly, if the value of imports is more than the value of exports, the balance will be negative. In all of this, the exchange rate of the economy’s currency plays a very big role.
To trade successfully in the forex market, traders need to know the exchange rate and the information about a country’s net exports can help the forex traders in analyzing and predicting the future movements in inflation rate and foreign investments. This gives the hints about how the currency market may behave in future.
Trade balance comprises of three main factors:
The foreign exchange rate between two countries is the most fundamental factor for forex trading in Sri Lanka. As the trade balance of an economy relies greatly on the exchange rates between two countries, the trade balance is a main economic indicator for the foreign exchange market. A country’s trade balance is also crucial in measuring the net income of the country through foreign trade
The trade balance helps the economists and forex traders in evaluating and comparing the economic strength of one country to another. If a country has a large trade deficit i.e. large negative trade balance, it would have to borrow the funds from other trading partners in order to buy goods and services. The Trade balance reports can create substantial movements in the forex markets if the data has evidential changes as compared to previous reports.
The proper name for retail sales is Advance Monthly Sales for Retail Trade. However, for forex traders, it is retail sales. The retail sales report is released by the Census Bureau, which is a division in the U.S. Department of Commerce.
This report provides with an early estimation of the value (in dollars) of sales for the retail sector. Although the sales do not include inflation rate adjustments. The report also shows the percentage change in the value of sales from the preceding month.
If the retail sales figures are growing, it shows that the economy is in good health and as a result, forex market takes up the bullish trend. The usage of the retail sales report in forex trading is clearly understandable as the report offers the very particular data about the industries and products on which customers are spending a large part of their income. Retail sales report is one of the most valuable economic indicators in the forex market and using this indicator, the forex traders can surmise the price movements in the forex market to some extent.
If you want to learn about how these economic indicators are useful in forex market analysis, you can refer to ‘ Fundamental and Technical Analysis in Forex Trading ’.
In addition, if you are interested in knowing about forex brokers in Sri Lanka, you can go to, ‘ Where to trade Forex Online and type of Forex brokers ? ’.
Pr Edu October 18th, 2018
Posted In: forex school
Tags: ADP National Employment Report, Consumer Price Index, CPI, Federal Open Market Committee, FOMC, forex, forex brokers, forex brokers in sri lanka, forex brokers Sri Lanka, Forex Trading, forex trading in Lanka, forex trading in sri lanka, forex trading sri lanka, GDP, Gross Domestic Product, Interest Rates, Interest Rates By Central Banks, NFP, Non-Farm Payroll, Retail Sales Report, Trade Balance
Various indicators are used by traders for forex trading in Sri Lanka in order to get some detailed understanding of the supply and demand of currencies. There are many ways to analyze the forex market and what’s important is how to use various technical tools to analyze the market information. You can learn to analyze the market conditions and anticipate the price movements using elements like charts, patterns, and forex indicators.
The main purpose of using these elements is to accomplish the price forecasting. Using charts and patterns, you can comprehend and process past market data of the forex market and, you can put some efforts into anticipating future price movements.
A line chart joins the sequential data points using a line and this chart is utilized by forex traders to keep track of closing prices of the currency. This chart is one of the most preferred charts used by forex traders and is formed by connecting a few successive closing prices together. In addition, line charts can be utilized for any time-frame. A line chart provides the forex traders with a distinct image of the price movements of a currency over a period of specified time. As the closing prices are considered as the most important price of the trading day, it can be seen why line charts are so often used by traders in the forex market.
Bar charts are the charts that display the movement of prices of a currency over a specified time period. Bar charts are used for technical analysis in order to measure the performance of the currency in the forex market. A bar chart comprises a few elements:
A single bar covers a predetermined time-frame, which is usually one day. Nonetheless, a bar chart can at times also cover the time-frame from one minute to a week or more.
Candlestick is very much like bar chart as it also shows the opening price, high price, low price, and close price for the trading day in the forex market. Usually, the candlestick shows the data for one trading day. The candlestick has a broad body, also referred to as the real body. The real body shows the range of currency prices which lies between the opening and closing price of the currency for a day's trading. When the closing price is lower than the opening price, the real body will be black, and when the closing price is higher than the closing price, the real body will be empty.
There are thousands of traders who trade in the forex market on an everyday basis and it can be difficult to make trading decisions. Chart patterns are one way to identify the future price movements. They focus on the bigger picture and help the traders in recognizing the future price movements.
Chart patterns have pre-defined distinctness and criteria, but no pattern can guarantee 100% accuracy or certainty when it comes to price movements in future. The most favorite chart patterns are reversals and continuations. A reversal pattern shows that the price movement will reverse at the end of the pattern and a continuation pattern shows that the prices will move with the same pattern even after the pattern gets completed.
Given below are some of the most popular chart patterns that are used in the forex market:
The Head and Shoulders is a reversal kind of chart pattern that shows that the price movements might follow a reversal trend once the pattern is finished. It has two types, standard head and shoulders top pattern and head and shoulder bottom pattern. The top pattern shows that the price movement for a currency pair will move downwards when the pattern is completed at the highest point of an upward trend. The bottom pattern shows that the price of the currency pair will rise after a downward pattern is completed.
The cup and handle pattern can be both, reversal and continuation chart pattern. For reversal pattern to occur, the price must be moving downwards. As the cup has the rounded bottom, that is where the reversal patterns take place as prices start moving upwards from the bottom of the cup. When a cup pattern is formed, the price should take a pause and move sideways or lower to create a handle. For a continuation pattern, the prices must be moving upwards. The price movement will form a cup shape patterns and creates a handle, and then breaks out of the handle to keep moving upwards.
The Double Tops and Bottoms chart pattern is easy to identify and also one of the most dependable analytical tools in the forex market. A double top is formed when the price reaches a high point in the upward trend and then moves downward to a new low point. Then again some time in near future price touches a new high point, very close to the previous high point and then falls below the previous low point. It is recognized as double top as the price reaches the high point twice in the same zone, incapable of moving ahead of that zone.
A double bottom is formed when the price reaches a low point during the downward trend and then pulls back and starts moving upwards to a high point. When the price movement once again faces a decline, it touches the low point near to the previous low point, and then move upwards and touches the point higher than the previous high point. It is recognized as double bottom as both times price reached a low point in the same area and was not able to move below that.
Triangle chart pattern is one of the most known patterns employed in the technical forex analysis as they appear more frequently as compared to other patterns. The three regular kinds of triangle patterns are ascending, descending, and symmetrical. The triangle patterns can last from a few weeks to many months.
In symmetrical triangles, two market trend lines meet each other and indicate that a breakout may take place. Ascending triangles has a straight upward trend line and a lower trend line which is moving upwards, conveying that a breakout might occur. In descending triangles, there is a straight lower trend line and an upper trend line which is moving downwards, conveying that a breakdown might occur.
Flags and Pennants are a form of continuation patterns. They show a sharp price movement, upwards or downwards, then there is a short sideways or downside movement and then the prevailing trend continues. This sideways movement usually creates a rectangle form, known as flag pattern, and when it creates a triangle form, it is called a pennant pattern.
Candlesticks patterns are formed when the price movements are represented by a candle body. Candle body It is a solidified area existing between the opening and closing price of the currency, and the wicks display the high and low points. Given below are some of the popular candlestick patterns:
Let’s take a look at four of the most popular candlestick patterns along with several actual stock chart examples in order to show their worth.
Bullish engulfing candlestick pattern occurs with the combination of two candlesticks of the current day and the previous day. The candle from the previous day is black candlestick and candle of the current day is the white candlestick.
For the previous day, the price opens at an almost highest point and closes at the almost lowest point for the day. This forms the first candle which is the black candle.
For the next or current day, the price opens at price below the closing price of the previous day. It increases the demand for the currency and price begins to move upwards. The day session closes at the price above the high price of the previous day.
Thus the white candle engulfs the black candle completely.
Bearish Engulfing Pattern occurs with the combination of two candlesticks of previous and current day. The previous day candle is the white candle and current day candle is the black candle.
For the previous day, the price opens at a nearly lowest price of the day and at the end of the day, the price closes at a nearly highest price of the day. It forms the first and white candle. For the next or current day, the price opens at the level above the closing price of the previous day and then the price starts to move downwards.
The price keeps on falling and closes at the price below the closing price of the previous day. This forms the black candle, which engulfs the white candle completely.
A hammer candlestick pattern is formed when forex traders turn down the support or resistance levels. When Hammer pattern is formed, it means that the opening price, highest price, and the closest price are close to each other so that the real body is small in size. It also has a long lower shadow, which is at least twice the size of the real body.
Doji candlestick pattern shows the indecision which is felt by the traders when it comes to the price action of a currency. Here, the opening and closing prices of a currency are almost equal. Doji candlesticks look like a cross or a plus sign. A Doji can be seen at the top and bottom of the market trends and can also be seen as a sign of possible reversal or continuation patterns based on the circumstances.
The best way to identify the most suitable forex indicator is to see how it suits your trading style and perspective. There are a variety of forex indicators and you can find that will be right for you. Some of them are:
A moving average is a popular forex indicator which is used in the technical analysis in smoothing out the price movement action by removing the random price swings from the main action. The two fundamental moving averages are the simple and exponential moving average. A simple moving average is calculated based on over a definite number of time periods. The Exponential moving average gives more weightage to the recent prices. Usually, moving averages are used to determine the direction of the market trend and identify support and resistance levels.
Fractals are indicators that help in recognizing the reversal levels in the market. Forex traders utilize the fractals to identify the future price direction and movements.
Most of the trading platforms with chart features provide fractals so that traders can just use the indicator on the chart to figure out the price patterns.
Bollinger Bands is a forex indicator, formulated by John Bollinger. It is used to determine the level of volatility in the forex market. Basically, when the market is unagitated, the bands will shrink in size and when the market gets noisy, the bands will spread out.
RSI stands for Relative Strength Index. It is a momentum forex indicator that determines the speeding and change of the recent price movements so as to study the conditions that might have resulted in overbought or oversold of the currency. RSI is regarded as overbought when the RSI value is higher than 70 and it is considered as oversold when the RSI value is under 30. These values can be modified based on what fits the security in the best way.
You can add these indicators to your chart using the trading software given to you by the Forex Brokers.
If you are interested in learning more about forex market price action analysis, you can refer to ‘ What is Price action trading analysis ? ’ and for getting more information about how to trade forex in Sri Lanka, ‘ Introduction to Forex Trading .
Prathilaba October 18th, 2018
Posted In: forex school
Tags: forex, forex brokers, forex brokers in sri lanka, forex brokers Sri Lanka, forex candlestick patterns, Forex Chart Patterns, Forex Chart Types, Forex Indicators, Forex Trading, forex trading in Lanka, forex trading in sri lanka, forex trading sri lanka
Before you start forex trading in Sri Lanka, as an investor, you must understand the some of the technical terms that are used in the forex market as you will be encountering those terms while trading in the forex market:
Pip stands for percentage in point or price interest point. Basically, pip is a standardized unit for the smallest movement that can occur at a price of the pair of currency. Most of the pip values are equivalent to 0.0001 as the price of the currency is measured up to the 4th decimal place.
Usually, many forex brokers in Sri Lanka use spreads to figure out their portions of earnings. In the forex market, a spread is defined as the difference in ‘Ask’ price and ‘Bid’ price of a pair of currency like EUR/USD. A spread is one of the easiest ways to pay the transaction cost to the brokers. For example, EUR/USD has been priced at 1.1499 and the trading broker offer to buy it at 1.1500 and to sell it at 1.1498.
The main reason behind this is the supply and demand of the currency pair. For example, dollars are high in demand so brokers do not need to charge higher spread from the trader as they would have no problem selling off the dollar currency in the market. On the other hand, if it is a currency is not in higher demand and brokers might have the problem selling it off quickly, they might charge higher spread as brokers will be taking the bigger risk. It is recommended for the individual traders that they do not buy or sell currencies with low demand.
It is imperative that you understand the value of spread before choosing a broker. To understand more about types of brokers working in the forex market, and how to choose the right one, you can refer to ‘ Where to trade Forex Online and type of Forex brokers ?’
Leverage comprises of borrowing ( not actually borrowing something but in order to understand it, will consider it as a borrowing ) a definite amount of the money which is required to invest in something. In forex trading, usually, the money is acquired from a forex broker. Forex trading does not require a bigger leverage as with a small initial margin, a trader can create, control and manage a large amount of money. Forex trading is a lot more popular as compared to trading in other financial instruments because, in the forex trading, you can acquire a bigger amount with very small investment as compared to trading in other securities. With low leverage, new traders can hold up in the forex market during the initial stages.
A margin is a deposit made by traders in the forex margin account as collateral to open a trading position in the forex market. Generally, the investors borrow a short-term loan from the forex broker. In order to be able to do the trading in the forex market, first, an investor must deposit money into the margin account and then start the trading.
The main objective behind a margin account is to increase the borrowing in order to increase the return on investment. The margin accounts are managed by the brokers of the investors and settled in cash on an everyday basis.
When trading in the forex market, commissions are a very important part of it. In general, commissions are paid to the brokers and dealers for their services in forex trading in relation to the spread, which is the difference between ask and bid price of a pair of currency.
When you are trading in the forex market, it doesn’t matter whether you make profit or loss, the first thing that will be deducted from your trading account will be the commission of the broker charged for the transaction. However, the commission may variegate based on the volume of the transaction. Larger the volume of the transaction, higher will be the commission charged by the broker.
A swap is a type of currency swap in forex trading. It is a mutual agreement that takes place between two parties who agree to exchange one currency of a particular amount with another currency of the same amount based on the current spot rate. Then at a specified date in future, the two parties will return the original amounts at a specified forward rate.
In forex trading, the bid price is that price at which market participants are ready to buy a specific pair of foreign currency in the market. Similarly, ask price is that price at which market participants are ready to sell a pair of foreign currency in the market.
In the past, currencies were bought and sold in specific amounts known as lots. The regular size of a lot is 100,000 units. Nevertheless, with technological development in the last decade or so, forex brokers have begun to offer small size lots as well. There are also mini-lots of 10,000 and micro-lots of 1,000. A lot size can be divided into 3 categories, micro, mini, and standard. A micro lot contains 1,000 units, a mini lot contains 10,000 units, and a standard lot contains 100,000 units.
Given below are a few types of forex trading order:
Prathilaba October 18th, 2018
Posted In: forex school
Tags: Bid and Ask Price, Commission, forex, forex brokers, forex brokers in sri lanka, forex brokers Sri Lanka, Forex Trading, forex trading in Lanka, forex trading in sri lanka, forex trading sri lanka, Leverage, Lot Size, Margin, Order Types, Pip, Spread, Swap, what is pip, what is pip in forex
In present-day situation, a forex broker is an intermediator who buys and sells foreign currencies on behalf of the clients in return of for a commission. Before the internet, forex brokers used to operate by phone. Clients would contact their brokers though phone to tell them about what currencies to buy or sell, and brokers would just do that and in return, they would receive the commission. Now, with the emergence of the internet in last two decades, online forex trading has come into existence. The trading could be done through a variety of electronic platforms and computer applications.
You can find many forex brokers in Sri Lanka. However, choosing the right forex broker can be a very daunting task, particularly if you do not have any idea what you are looking for. Given below are a few factors you must consider when choosing a forex broker:
Forex brokers can be divided into 2 categories:
Dealing Desks Brokers or Market makers
No Dealing Desks Brokers - can be divided into 2 parts:
a) Straight Through Processing (STP)
b) Electronic Communication Network (ECN)
A dealing desk broker will offer its customers the functions of both the sides of the market. The broker puts both a bid and asks price for at which they are prepared to buy and sell the foreign currencies. Due to this, the forex broker's customers can always fill up the trading orders. Dealing desk brokers are also known as market makers. Their main purpose is to acquire a share of the spread and to maintain adequate volume on both buyers’ and sellers’ sides of the market to avoid risks.
No Dealing Desk brokers do not process their customers’ orders using a Dealing Desk. It means that they don’t take the other side of their customer’s dealing as their main purpose is to just connect the buyer and seller together. Usually, no dealing desk brokers charge a small commission for their trading services or just increase the spread by adding their own net income into it. No Dealing Desk brokers can be divided into two parts, STP and ECN
a) STP Brokers
STP stands for Straight Through Processing. In this, the STP broker directs their customers’ orders straight to those who bring liquidity to the market such as banks and larger brokerage firms. It is called straight-through processing as the broker does not operate through a dealing desk and brings down the frequency of delays and requotes while trading is taking place. STP has been developed to enhance the speed at which the transactions in the forex trading market takes place. This is done by letting the information that has been filled using electronic means to be passed from one party to another during the settlement procedure without actually re-entering the same information repeatedly at every stage.
b) ECN Brokers
ECN stands for Electronic Communication Network. An ECN forex broker utilizes the electronic communications networks or ECNs to offer their clients an opportunity to have direct contact with other participants of the forex trading market. The ECN provides the buyers and sellers with an electronic system where they both the parties come together in order to execute trades. This network has been designed in such a way that it can match the demand and supply of the currencies at the prices customers want to pay or want to receive for the currencies. Basically, this network match buying and selling orders available in the exchange. Through ECN, customers can also check the ask and bid prices of the currencies listed in the open market.
Online forex trading is similar to any other trading platforms which are used to buy and sell the securities. The forex trading platform act as a mediator between the forex broker and the trader. Platforms also provide the customers with both current and historical data pertaining to a particular foreign currency and provide the customer with an access to all types of orders available in the forex trade market. For forex trading in Sri Lanka, you can use MT4, MT5, and cTrader ( Your chosen broker will provide one or all these platforms ) to enjoy a smooth and easier trading experience.
If you want to know more about Forex markets, you can visit our article, Introduction to Forex Trading for more information.
Prathilaba October 18th, 2018
Posted In: forex school
The currency market is the largest and enjoys the highest level of average daily turnover amongst all the financial markets. Forex market serves many purposes, but its main purpose is to cater the currency requirements of importers, exporters, and travelers from around the world. However, forex trading in Sri Lanka is enclosed in a circle of mystery and confusion. However, here in this article, you will learn what is foreign trading and how the forex market provides a number of opportunities for investors around the world.
Forex stands for foreign exchange. Forex market is the market where all the interested parties can purchase and sell the currencies. The forex market includes banking institutions, non-banking commercial establishments, investment management companies, and retail forex brokers and individual investors. The forex market is regarded as one of the largest financial markets with more than $5 trillion value of transactions on an everyday basis. The foreign exchange market is not just one market exchange. Instead, it comprises of a worldwide system of computers and brokers from all over the world.
The forex market operates in two ways, the interbank market, and the OTC (over-the-counter) market. In the interbank market, large banking establishments buy and sell currencies with the aim of hedging, making adjustments in the balance sheet, and also for their clients. In the OTC market, individuals buy and sell currencies directly through online platforms and forex brokers.
When it comes to the forex market, all you have to do is switch on your computer, open a forex account with a brokerage firm, deposit an amount, and start trading with currencies straightaway. However, in the past, it wasn’t this easy. In the last few decades, the forex market has changed significantly.
At the end of World War II, major currencies around the world were measured against the economic value of gold. In the beginning, this helped in bringing stability in the exchange rates. However, as economies began to develop after the war, gold became more and more costly. In the year 1971, the gold system was eliminated, allowing the exchange rates to work independently.
In the 1990s, the internet era had begun and many companies were adopting it to create their online networks in order to generate quotes and allow instant trading. Advancement of technology allowed the individuals to buy and sell currencies in the foreign exchange market. Today, foreign exchange market is the largest financial market in the world and every day a large number of investors operate in this market exchange.
The traders and investors who trade in forex market come from a wide range of backgrounds, and fields. Some of the key players of the forex market are commercial banks, central banks or countries’ national banks, hedge funds, corporations, and individuals. Let’s have a look at how forex traders are categorized:
The biggest participants in the foreign exchange market are institutional investors and traders. A majority of forex trading money comes from institutional investors and traders, about 94.5% of the market volume.
Retail traders and investors buy and sell currencies from their own private Forex trading account, using their own money. They invest in two ways, short and intermediate term trading, and long-term trading or investing.
You must be already having loads of questions to ask as follows most probably ;
How to make money online ?
How to make money from home ?
How to make money on the internet ?
What are the online part time jobs for Sri Lanka ?
What are the online jobs in Sri Lanka ?
What are the Ways to make money online ?
Forex trading will be one of the best solutions for all above questions but forex market is a financial market and just like any other financial market, it comes with its own set risks and rewards. So let's learn about them before considering forex trading.
Forex market is huge and opportunities are endless. Let's have a look at some of the most successful Forex traders who changed the ways of forex markets with their approach:
George Soros is renowned as one of the superlative investors in history. He is known for his excellent trading move when he made a profit of over £1 billion from the short position in pound sterling. Moreover, he did this successful deed before Black Wednesday of 16 September 1992.
Soros had a strong grasp over risk and reward factors. It was one of the characteristics of his financial mind that assisted in shaping his reputation as one of the leading Forex traders in the world.
Warren Buffet is an American investor and business tycoon and also one of the richest men on this planet. In 2014, Mr. Buffett was estimated to have an overall wealth of $63.2 billion by Forbes. When it comes to working in the forex market, he works on one simple principle. He believes in having patience and gather a proper understanding of the market so as to earn high profits in the long run. Buffett’s investment plan has been the most successful to date.
Bill Lipschutz earned profits from listing the millions of dollars of Salomon Brothers at FX department in the 1980s, even though he had no past experience of the currency markets. Lipschutz believes that market perceptions along with the market fundamentals help in determining pricing patterns in the market.
You can read more about them and more forex success stories here " Most famous Successful Forex Traders " article by us.
Are you interested in finding the right forex brokers in Sri Lanka? Find out here, ‘ Where to trade Forex Online and type of Forex brokers ? ’
Prathilaba October 18th, 2018
Posted In: forex school
Tags: forex, forex lanka, forex market, forex trading in sri lanka, forex trading sri lanka, forexmarket, how to make money from home, how to make money on the internet, how to make money online, Introduction to Forex Trading, Introduction to Forex Trading in Sri Lanka, make money from home, online jobs, online jobs in sri lanka, online part time jobs, ways to make money
Forex trading in Sri Lanka can be a fascinating experience. Traders are always looking to attain the best market prices. These forex traders look into what the market has to offer for them and try to catch the right opportunities that could have great possibilities of high profitability. There are many reasons which make the forex market the best place to trade.
Every trader has different reasons to why he or she wants to trade in the forex market. To trade successfully, traders must know what they want and what to look for. There are various ways to analyze the forex markets, such as patterns, charts, and other analytical tools. They help you read the market conditions and what could be expected in the future. Different traders have different reasons for choosing the Forex market and choose different methods to analyze the market position.
Here are a few of them:
A pin bar pattern comprises a single price bar showing a distinct reversal and rejection of a currency price. It is usually a candlestick price bar. The reversal pin bar is recognized by its extended tail, known as a shadow or wick. The zone that lies between the opening and closing end of the pin bar is referred to as the real body. Usually, in the pin bar, the real body is small and the tail is longer. The tail shows the prices which have been rejected, implying that the price will continue to move in opposite direction to which the tail is pointing.
Pin bar can be categorized as a bearish pin bar and bullish pin bar. In a bearish pin bar, the real body exists at the lower end of the long tail, with tail representing the higher prices which have been rejected for attaining the lower price in near future. In a bullish pin bar, the real body lies on the upper end of the long tail, and here too, the tail represents the lower prices which have been rejected to attain the higher price in near future.
In order to better your pin bar trading results, look for pin bars in trending markets. A trending market is that market where price is moving in a particular direction. It can be moving in an upward direction, downward direction, or horizontal direction. Although you can also find great pin bar opportunities in range-bound and counter-trend trading, they do not occur very often and it can be difficult to trade as compared to trending markets.
Focusing on pin bars in trending markets means that you will only be focusing on charts with market trends or pairs of currencies. To becomes successful in pin bar trading, you should learn about how to trade in trending markets on everyday chart and charts with 4-hour time-frame. To learn more about what are technical tools to learn how to forex trading in Sri Lanka, check out - Forex Chart Types, Chart Patterns, Candlestick Patterns, and Indicators.
It is not necessary that the market will always move in upward, downward, or sideways trend. Once you have learned about doing pin bar trading in trending markets, you can move to trade in other market conditions without trends. You can look for pin bars at the main support and resistance levels in the market. They can be strong points for a pin bar trading. If you want to know what is the support and resistance level and how to find them, you can refer to ‘Forex Trading with Support and Resistance Zones’.
Protruding pin bar tail means when the tail is jutting out from the key levels resulting in incorrect breakout level. The pin bar is basically an indicator of reversal, and more the tail is sticking out from the key level, powerful will be the rejection and reversal. With the stronger reversal, there are more chances of pin bar trading strategy becoming a great success.
Fundamentally, reversal trading is a counter-trend trading method. In this trading method, a trader enters the market against the direction in which price is moving. It helps in reducing the risks when the price movement begins the reversal trend.
It might seem a lucrative idea to get into the market at very high or very low price points in the market. Reversal trading can be done in two way, bullish and bearish. When the market is bullish, the reversal will occur when the price will start falling from a very high price point attained due to an upward trend. On the other hand, the bearish market, a reversal occurs when the price starts moving upwards after reaching a very low point due to a downward trend in the prices. While reversal can be a good trading position, it is a very risky method and is not appropriate for the beginners of the forex trade.
Types of Reversal Trading based on price movements in the forex market:
As a forex trader, when you are executing a reversal trading strategy, it is better to consider some factors that can help you move your trade in the right direction. They are:
When it comes to forex news trading, it is perhaps one of the most fascinating and exciting ways of trading. The effects could be immediate in the form of quick profits or quick losses. With quick profits come quick satisfaction and with quick losses come quick discontentment. Basically, news trading is about trading in the forex market after a news has been released that can have the impact on the forex market price movements.
When you are getting into news trading, it is necessary that you gather the knowledge regarding which new releases are expected during that week. When trading news, you first have to know which releases are actually expected that week. Along with that, it is important for you to comprehend which information or data you should look out for when going for news trading. Some of the data you must follow from any economy are Interest rate fluctuations, Sales data, Country’s inflation rate, Unemployment rate, GDP, Business reports and surveys, Consumer surveys, Trade balance, and many other economic indicators. Importance of the factors or news releases may vary depending on the current scenario of the concerned economy.
But, what you need to understand is that news trading is not everyone’s cup of coffee. It is especially not a good choice for beginners as it is very risky and can instantly turn the profits into losses. Even many experienced traders avoid new trading during the time when news can have a huge impact as it can be dangerous to trade during those times.
1) It would help you place a trading order, if you know in which direction the market is currently moving, whether it is upwards, downwards, or sideways, and which direction it could move during the news trading. It is also referred to as directional bias when you place an order based on in which direction the market might move in future after the news release.
2) Try to figure out the fundamental reasons for why and how any news release affects the market and why it moves towards a particular direction after the news release.
3) When you are willing to place the trade based on a non-directional bias, it means you don’t care which way market prices move, you just want to place the order. It might be a good move under normal market circumstances, however, if the news released is of high impact, you might want to consider before placing the order.
4) Before placing an order based on the news release, it would be better if you check different reports to get a feel for what really is happening. Look for things like:
5) Entering into the market without proper knowledge and preparation during a high-impact news release can turn out to be a disaster for your trading position. Take your time and get some practice. Do your research and evaluate the economic indicators to recognize how they impact the forex market.
6) Keep in mind that, when a news is released, its effect usually lasts from half n hour to 2 hours, and it can change based on the current scenario of the market. So make your trading plans based on that.
7) In case you have done a fundamental and technical analysis of the market for an expected news release, but when the actual news is released and market moves according to that, and the real movement does not match your expectations, do not go against the market trend. Just follow the market trend. It might be that you might have missed some details while making analysis or might have fully understood what effects might come upon the market on the release of the news.
8) Last but not the least, never be in too much hurry to get into a trade. Rushing into the things might prove to be a damaging move on your part. Look for the strong indicators, and make sure whatever news has been released in the market is genuine and not a hoax, and only then make your move to trade in forex market.
Just keep in mind that, nothing comes easy and you must put some efforts on your part to enjoy the benefits of the market conditions.
To learn more about technicalities in the forex market, refer to ‘ What are the must know the technical terms used in the Forex Industry that I should know ? ’ and if you want to hire forex brokers in Sri Lanka, refer to ‘ Where to trade Forex Online and type of Forex brokers ? ’
Prathilaba October 17th, 2018
Posted In: forex school
Tags: forex, forex brokers, forex brokers in sri lanka, forex brokers Sri Lanka, Forex Trading, Forex Trading Ideas, forex trading in Lanka, forex trading in sri lanka, forex trading sri lanka, News Trading, Pin Bar Trading Pattern, Reversal Trading, Tips for news trading, trader, trading ideas