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The First Five Essentials Of Successful Forex Trading

Stephen Mayers has developed a helpful roadmap that can take a Forex newbie to professional level in Forex trading based on his experience teaching Forex trading to more than 400 students across the country in person and online.
Following the advice from a recent radio show can help you go from a complete novice to a seasoned pro in Forex trading.
Phase 1: Acquire Foundational Knowledge
Mastering the fundamentals is the first order of business when entering the foreign exchange market. The Foreign Exchange Market: What Is It? What is the procedure? Just how do I put this to work?
Forex, an acronym for “foreign exchange,” refers to the market where large financial institutions like banks and investment funds trade currencies with individual traders. The foreign exchange market (Forex) is the largest financial market in the world, and it is open around the clock, five days a week.
The broker’s services are essential to the millions of retail traders who participate in the Foreign Exchange market every day. By borrowing money from their broker, traders can increase their initial investments. While there is a higher chance of making a profit, there is also a higher chance of seeing all of one’s trading funds evaporate. In light of this, it is crucial to implement effective risk management.
Trading on the Foreign Exchange (Forex) always involves the simultaneous purchase and sale of one currency in exchange for another. The British pound against the Japanese yen (GBPJPY) and the Euro against the U.S. dollar (EURUSD) are two common currency pairs (the euro against the US dollar). Any currency that comes first in a pair is known as the base currency, and the second is known as the quote currency. The British pound is the “base currency” and the Japanese yen is the “quote currency” in the GBPJPY currency pair we just discussed.
Currency fluctuations generate gains for Forex traders. Pips, the last digit of a price quote, are used to quantify these changes.
To further your understanding of forex trading, check out the OctaFX channel on YouTube, where you’ll find a number of in-depth videos created by Forex trading experts.
Phase 2: Time it perfectly
Forex market participants actively seek financial gain. If you want to do this successfully in the foreign exchange market, you should do it when volatility and liquidity are at their highest. New York, London, Sydney, and Tokyo are the names of the four nine-hour trading sessions held at major stock exchanges around the world. When two or more trading sessions coincide, that is when the most transactions take place (that is, when more than one trading session is open at the same time). For the currency pairs that see the most volume and volatility during these sessions, this is the best time to trade.
Considering the overlaps and the opening and closing times of the various trading sessions, Nigerian trading experts have determined that the most profitable time to trade is between the start of the London session and the end of the New York session (8:00 am to 5:00 pm Nigerian time). During these times, major currency pairs like the EUR/USD and GBP/USD have the most liquidity, increasing the likelihood of a profitable trade.
Financial market fluctuations can be significantly influenced by economic data releases. The timing of important statements and press releases is also crucial. In a slow trading period, a major news announcement can spark a surge.
While it’s true that traders shouldn’t worry about every piece of news, there are some events too important to ignore. The OctaFX Economic Calendar is where you can find information about all of these upcoming events. They give you the latest and greatest in a country’s economic news, both historically and in the future.
Phase 3 : Examine the Market
To make profitable trades in the Forex market, professionals develop multiple systems for analyzing the market and guiding their actions.
Forex market analysis can be broken down into three categories: fundamental, technical, and sentiment. The third is the rarest of the three. Currency fluctuations are analyzed in light of the consensus of Forex traders’ sentiments.
The relative value of a currency can be determined by analyzing the effects of political, economic, and social factors. The economy of a country can suffer for many reasons, including disease epidemics and high unemployment rates. Here, the country’s currency is likely to fall. If the economy were growing and the currency was strengthening, the situation would be reversed.
OctaFX simplifies keeping up with the latest developments by allowing users to distribute and discuss reports on the most important happenings in the market.
Foreseeing future price changes is the goal of technical analysis, which looks back at price data in order to spot trends. Forex analysts and traders determine the best trading decisions using trend lines, support and resistance levels, indicators, and various chart patterns.
Some tried-and-true methods for analyzing markets are as follows:
Utilize both technical and fundamental analyses.
Observe the weekly and daily patterns. What direction does the trend seem to be heading?
Highlight the levels of support and resistance.
Observe the highs and lows of the swings.
The price may retrace within certain predetermined zones. Confirm your findings using the Fibonacci retracement tool.
You need a plan, consistent effort, testing on historical data or a demo account, and time to develop a strategy that works for you. To learn more about the jargon and software we’ve discussed here, check out the Analysis & Education section of the OctaFX website (and don’t forget to subscribe to the YouTube channel!). Follow the channel to see experts dissect the markets live on YouTube. You are free to investigate their methods and put them through your own paces to see which ones yield the best results.
Phase 4: Avoid believing common trading myths
If you aspire to trade the Forex market like a pro, you should avoid falling for some common trading myths.
Currency trading is a fast way to accumulate wealth.
Forex trading is not a quick way to amass wealth. Similar to any other industry, it has its own jargon and processes that you’ll need to master.
Trading Forex requires a sizable initial investment.
Beginning traders have the luxury of taking baby steps. Many FX brokers allow retail investors to get their feet wet with only a small initial investment. You can start trading Forex with as little as $40 with OctaFX, for instance.
Keeping a closer eye on your investments.
Despite the fact that trading requires a lot of dedication, you don’t have to be glued to your computer screen at all times.
High potential payoff, but substantial danger.
Inexperienced traders often make the fatal mistake of thinking that the higher the risk, the greater the potential reward. While leverage can significantly increase your potential for profit, it also poses significant danger to your trading capital if it is misused. Leverage should never be used at the drop of a hat.
Expanding one’s trading activities typically results in greater financial success.
It is irrelevant how many positions you initiate. The amount of money you make with each trade is what really counts.
Forex is a con.
The Foreign Exchange Market (Forex) is a decentralized market for the trading of currencies around the world. Scammers target the Forex market because it typically involves large sums of money and the victims typically have high expectations of profit. It’s important to prepare thoroughly before starting any new venture, Forex trading or otherwise.
It’s guaranteed that you’ll be right every time.
Trading inevitably involves taking a loss. Recognizing this and making use of risk management strategies is crucial in assisting traders in reaching their objectives.
Create a tried and true trading strategy that you have tested, and use your failures as learning opportunities.
Phase 5: Stay away from Typical Trading Errors
In order to reach a professional level in anything, you have to make mistakes and learn from them. One can avoid a lot of headaches by studying the blunders of others. Here are some of the most frequent blunders made by traders, along with suggestions for avoiding them.
There was absolutely no evaluation
Trading foreign exchange (Forex) is not a game of chance. Financial ruin can come quickly from placing a trade on shaky research or a hunch.
Overleveraging
The temptation to use high levels of leverage in the hopes of making a quick profit on a single trade is real, but the potential for catastrophic loss is not. Before using leverage or issuing risk management orders, it’s prudent to conduct thorough evaluations.
The risk of emotional trading is the risk of letting your emotions affect your trading decisions.
Anger and a hasty desire to recover lost funds through trading can derail even the most experienced investor. If you’re losing more than 25% of your trades, you should get out. If trading is going particularly poorly, you may want to switch to your demo account for a while.
Negligible attention to risk management
Maintain effective risk management procedures at all times. Set stop-loss orders to prevent further losses and profit-taking orders to close the moment profits are realized. Limiting exposure by trading in small increments and keeping an eye on the odds of success go hand in hand in risk management.
Deviating from your own standards
As soon as you find a method of trading that yields positive results, adhere strictly to it. Try not to give in to your impatience.
The wrong Forex Broker
If your trading account is mismanaged or your broker is in financial trouble or a scam artist, you could lose all of your money. Think about how a broker fits into your trading profit expectations.
If you follow the advice in this article, you will be able to conquer the financial world with ease.
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How To Build A Profitable Career With Microsoft Office Suite Certification

Microsoft office is the collective name for Microsoft’s set of home and business productivity software. The Microsoft office suite is a set of programs for common productivity tasks, including a word processing program, a spreadsheet tool, presentation software, an email program and others.
The Microsoft suite of programs includes Microsoft word – a word processing tool, Microsoft Excel – a spreadsheet program, Microsoft PowerPoint – used for creating interactive presentations, Microsoft Outlook – used for email and calendar management, Microsoft Access – a database management program and Microsoft OneNote – a note taking application.
The Microsoft office suite is a package of office productivity software released by Microsoft and is available for Microsoft Windows and Macintosh Operating Systems. Current versions for Windows and Macintosh is Office 2016.
Today’s businesses prosper and compete best when they are at the cutting edge of technology. If you don’t understand the basics of the business apps that help companies thrive, you can’t reach your potential or help businesses reach theirs.
The Microsoft office suite is used by 80 percent of companies. Its popularity is only one good reason to get to know MS office but there are more.
Microsoft Office Suite Certification
There are three Microsoft office certifications which includes; Microsoft Office Specialist (MOS), Microsoft Office Expert and Microsoft Office Master. They are intended to demonstrate increasing levels of proficiency in using one or more of the five main office apps: Word, Excel, PowerPoint, Access and Outlook.
These certifications are all about using the Office applications, not installing or administering them. The current certification exams are for the 2016 versions of Office applications which are also available via the cloud in Office 365.
Prerequisites
You do not need specific prerequisites for any of the Microsoft Office certification levels. Microsoft recommends that you have specific level of knowledge in MS Office or the previous level certification.
To become a Microsoft Office specialist, you need to pass these relevant exams;
Each exam is weighed in four or five various categories related to use of the particular application. The Word 2016 exam contains the following categories;
You can get certified as a Microsoft office specialist expert in one or both of these apps, by passing the appropriate expert-level exam(s);
Why Become MS Office Certified?
If you are fluent in Microsoft programs, you will obviously be an expert chart builder. Creating charts is ideally considered to be a job for finance professionals and business analysts. Almost all jobs at some point demand this skill and certification.
Today, data means something to the world. In order to support your view or idea, you need adequate data to put forward. In such situations, MS Excel is one of the best programs to rely on. You can bring different files together and sort data.
Microsoft credential establishes your base on using MS PowerPoint for creating presentation, MS Project for managing projects or MS Excel for managing data.
Besides making your office work easy and effective, Microsoft certification also opens up greater career prospects for you. You can vouch for challenging leadership and analytical roles with your MS credential, you can demand for salary increase and better positions with your expertise to fluently use the MS program towards a better business and success.
Jobs that require MSOffice Certifications and Potential Earnings
Median pay: $70,500 per year
These professionals create and pore over cash flows, income statements, balance sheets and tax returns to keep businesses profitable.
Median pay: $38,880 per year
Administrative assistants help businesses run smoothly by performing routine tasks. They prepare reports, organize documents, manage records, schedule appointments and provide support for staff, customers and visitors. Word processing and spreadsheet software like Excel are staples in their toolbox.
Median pay: $64,040 per year
When it comes to getting your money’s worth, cost estimators are the people you should go to. They often work with project managers and engineers to make accurate estimates of the amount of money, time and labour a specific project requires.
Median pay: $58,600 per year
In addition to their subject specializations, educators also need to be proficient at organizing their classes, keeping track of students and mapping out lesson outlines.
Median pay: $63,120 per year
Hard core marketing is data science in disguise. Leveraging both creativity and analytical thinking professional market researchers depend on their skills at gathering, manipulating and interpreting field data.

Microsoft office is the collective name for Microsoft’s set of home and business productivity software. The Microsoft office suite is a set of programs for common productivity tasks, including a word processing program, a spreadsheet tool, presentation software, an email program and others.
The Microsoft suite of programs includes Microsoft word – a word processing tool, Microsoft Excel – a spreadsheet program, Microsoft PowerPoint – used for creating interactive presentations, Microsoft Outlook – used for email and calendar management, Microsoft Access – a database management program and Microsoft OneNote – a note taking application.
The Microsoft office suite is a package of office productivity software released by Microsoft and is available for Microsoft Windows and Macintosh Operating Systems. Current versions for Windows and Macintosh is Office 2016.
Today’s businesses prosper and compete best when they are at the cutting edge of technology. If you don’t understand the basics of the business apps that help companies thrive, you can’t reach your potential or help businesses reach theirs.
The Microsoft office suite is used by 80 percent of companies. Its popularity is only one good reason to get to know MS office but there are more.
Microsoft Office Suite Certification
There are three Microsoft office certifications which includes; Microsoft Office Specialist (MOS), Microsoft Office Expert and Microsoft Office Master. They are intended to demonstrate increasing levels of proficiency in using one or more of the five main office apps: Word, Excel, PowerPoint, Access and Outlook.
These certifications are all about using the Office applications, not installing or administering them. The current certification exams are for the 2016 versions of Office applications which are also available via the cloud in Office 365.
Prerequisites
You do not need specific prerequisites for any of the Microsoft Office certification levels. Microsoft recommends that you have specific level of knowledge in MS Office or the previous level certification.
To become a Microsoft Office specialist, you need to pass these relevant exams;
Each exam is weighed in four or five various categories related to use of the particular application. The Word 2016 exam contains the following categories;
You can get certified as a Microsoft office specialist expert in one or both of these apps, by passing the appropriate expert-level exam(s);
Why Become MS Office Certified?
If you are fluent in Microsoft programs, you will obviously be an expert chart builder. Creating charts is ideally considered to be a job for finance professionals and business analysts. Almost all jobs at some point demand this skill and certification.
Today, data means something to the world. In order to support your view or idea, you need adequate data to put forward. In such situations, MS Excel is one of the best programs to rely on. You can bring different files together and sort data.
Microsoft credential establishes your base on using MS PowerPoint for creating presentation, MS Project for managing projects or MS Excel for managing data.
Besides making your office work easy and effective, Microsoft certification also opens up greater career prospects for you. You can vouch for challenging leadership and analytical roles with your MS credential, you can demand for salary increase and better positions with your expertise to fluently use the MS program towards a better business and success.
Jobs that require MSOffice Certifications and Potential Earnings
Median pay: $70,500 per year
These professionals create and pore over cash flows, income statements, balance sheets and tax returns to keep businesses profitable.
Median pay: $38,880 per year
Administrative assistants help businesses run smoothly by performing routine tasks. They prepare reports, organize documents, manage records, schedule appointments and provide support for staff, customers and visitors. Word processing and spreadsheet software like Excel are staples in their toolbox.
Median pay: $64,040 per year
When it comes to getting your money’s worth, cost estimators are the people you should go to. They often work with project managers and engineers to make accurate estimates of the amount of money, time and labour a specific project requires.
Median pay: $58,600 per year
In addition to their subject specializations, educators also need to be proficient at organizing their classes, keeping track of students and mapping out lesson outlines.
Median pay: $63,120 per year
Hard core marketing is data science in disguise. Leveraging both creativity and analytical thinking professional market researchers depend on their skills at gathering, manipulating and interpreting field data.
Make Money Online
How To Establish A Profitable Career With Google Analytics Certification

Google analytics is a web analytics service offered by Google that tracks and reports website traffic, currently as a platform inside the Google marketing platform brand.
If you have a blog or a website, whether they are for personal or business use, then you need Google Analytics.
Here are few of the many questions about your blog or website that you can answer using Google Analytics;
- How many people visit your blog or website?
- Where do your visitors go?
- Do I need a mobile-friendly website?
- What marketing tactics drive the most traffic to your website or blog?
- What website sends traffic to your website?
- Which pages on your website are the most popular?
- How many visitors have you converted into leads or customers?
- Where did your converting visitors come from and go from your website?
- How can you improve your website speed?
- What blog posts do my visitors like the most?
As of 2019, Google Analytics is the most widely used web analytics service on the web. Google Analytics provides an SDK that allows gathering usage data from iOS and Android app known as Google Analytics for mobile applications. Google analytics can be blocked by browsers, browser extensions and firewalls and other means.
Google analytics is used to track website activity such as session duration, pages per session, bounce rate etc. of individuals using the site, along with the information on the source of the traffic.
Google analytics approach is to show a high-level, dashboard-type data for the casual user and more in-depth data further into the report set. It can identify poorly perform pages with techniques such as funnel visualization, where visitors came from, how long they stayed on the website and their geographical position.
Google analytics e-commerce reporting can track sales activities and performance. The e-commerce reports show a site’s transactions, revenue and many other commerce-related metrics.
How to get started
To get certified, you need to pass the Google Analytics Individual Qualification (GAIQ) exam. According to Google, the GAIQ is an industry-recognized test that demonstrates your proficiency in analytics. The exam covers the basic and advanced google analytics concepts, including:
- Planning and principles
- Implementation and data collection
- Configuration and administration
- Reports, metrics and dimensions
- Conversion and attribution.
The Google analytics exam is;
- Absolutely free of cost
- 90 minutes
- Qualification is 12 months
- 70 questions in total
- Consists of multiple choice and true/false questions.
- Broken into molecules
- The timer begins counting down as soon as you begin and you cannot pause the timer
- Can’t flag questions to go back during the exam time.
- 80% correct or higher to pass
- If you fail, you must wait 7 days to retake the exam.
How to get Certified
- Sign up to Google Partners: You have to be a partner to take the Google analytics exam. This is an online vehicle for Google’s interactions and collaborations with digital marketers and agencies.
- Study for the exam: To aid you in studying for the exam, Google provides a number of resources through their Google analytics academy. It includes a handful of free google analytics courses (made up of video lessons) that you can take in your own time. Google recommends that you complete the following courses at the very least before taking the exam;
- Google analytics for beginners
- Advanced Google analytics
- Take the exam
Once you have created a profile in Google Partners, you can sit for the exam.
- Click certifications
- Click see exams
- Hover over the exam section and click on exam details
- Click take exam.
- Receive your Google Analytics Certification
Once you pass the exam, you become certified. This will reflect on your Google Partner’s account where everyone will be able to see that you are now a certified partner. Congratulations – you made it.
Is Google Analytics Lucrative?
Google analytics is a skill that has been sought after in marketing for a while now and PayScale found that this certification is associated with 1.2 percent boost in salary. The Google analytics individual qualification certification is well worth your time. With this certification, you will pick up an abundance of useful analytical knowledge that will help you understand Google analytics better.
Potential and Future Earnings of a Google analyst
The salary of a Google analyst is $81,400 annually according to Google salary trends based on salaries posted anonymously by Google employees.
Here Are Some Big Changes Coming To Google Analytics
On July 1, 2023, Google Analytics will begin using GA4, the latest version. For marketers, this is a game-changing development because analytics form the bedrock of performance monitoring. Although it may seem like you have plenty of time, turning this on is not as easy as flipping a switch. The crucial information is listed below.
What does GA4 bring to the table that the current Universal Analytics doesn’t?
- Using an event-based operational model, GA4 tracks users while prioritizing their privacy, collects and analyzes AI-predicted data, and employs machine learning to make sense of user behavior.
- GA4 plans to enhance the current Universal Analytics platform by focusing on active users rather than the total number of users, and it will do so by providing a cross-channel view of the customer lifecycle.
- GA4 uses machine learning to combine web and app data in a single asset, making it easier to find actionable insights, while UA has only limited capabilities in this area.
- The new GA4 model will have fewer predefined reports than its predecessors, making it simpler to generate ad hoc or one-off reports.
- In GA4, not only transactions and objectives but all customer actions are recorded as conversions (events).
- In response to Google’s ongoing efforts to tighten its grip on user data, GA4 forgoes cookies in favor of machine learning to fill in the blanks.
- To help marketers more easily identify important trends and anomalies in data, Google streamlined its reporting interface.
- Data can be used to improve websites and user experiences thanks to GA4’s event-based analytics model and cross-device reporting.
- GA4 monitors all customer events as vital data streams in the customer journey, not just page views.
- Ad companies can better understand who to target by using GA4, which uses machine learning to fill in the blanks in consumer behavior and predict future transactions and revenue.
As we move into a more privacy-conscious era of the internet, GA4 is the answer to the question of how marketers can make use of data in innovative ways. Marketers can use web and app data to zero in on the user journey from first visit to conversion without resorting to cookies or behavioral & conversion modeling.
The new update paves the way for cutting-edge tracking without compromising users’ personal data security. Having marketers rest easy enough to zero in on the most relevant data helps you steer your campaign in the right direction.
There are a few things you need to do as a handoff before you can make the switch. Many advertisers already know that Google stores information for a full 26 months. As a result, backing up your data is crucial. If you want to have reliable reports after the switch is complete, you should keep all data beginning in 2021. You have completed your shift prep by gathering all necessary information.
Methods for kicking off the change
- Open a session in Google Analytics.
- Select Admin by clicking the cog icon in the footer.
- Verify that the correct account has been chosen.
- Check that the preferred option has been chosen.
- First in the Property column, select GA4 Setup Assistant.
Some people may feel threatened by the GA4 update, but success can be achieved with early preparation and study. Starting the setup now will help your future campaigns succeed more than if you waited until GA4 was released. GA4 provides the analytical solution we need as we transition into a space where user privacy is a primary concern, but only if you get the set-up process right.
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