Indicators indicate us the right way though not always. To me, moving average and fibnacchi seem to be good indicators even though some traders won’t agree with me and they have different observations too.
Market analysis is of two types, technical and fundamental analyses. An in-depth analysis is needed for Forex trading and you should make a weekly routine of trading based on your analysis. Consider time frames at the time of analyzing.
Forex runs on economic condition so it’s your primary duty to analyze all financial affairs happening around the world. It will help you better forecast the market. Besides learning, start trading with a regulated trading broker.
We need good trading approach and sustainable trading strategy to become profitable in trading. Testifying strategy for a long time is essential to justify its effectiveness.
I think Fibonacci is an effective technical tool because it helps traders identify the support and resistance levels by which we can identify our targets.
Risk management strategy is a tool that must be maintained in trading to gain profit. Towering leverage and trading in standard account will carry massive amount of risk for you. So, avoid trading with high risk as it consumes your capital. Stay careful about broker choosing.
If we want unlimited profit from Forex, we have to know the use of leverage and spread. You have to be flexible in using leverage because it will keep you risk free.
Forex Traders often lose money because forex market is unpredictable and this unpredictability raises from high volatility. So, traders should avoid trading during high volatility.
Forex trading can be a solution to your poor financial condition. In this situation, Forex trading can be a great opportunity for career building. If you are investing in Forex for the first time, you should start with small investment
In Forex, don’t do anything that takes away your attention from trading, for example: choosing multiple pairs at a time for trading. What's your take on that?
Trading for a long time is an art of trading. Every trader should figure out some calculations on the market if you truly want to hold your trade for a long time.
Forex is a decentralized currency trading market. In Forex, broker plays a vital role by not only connecting us with the market but also providing a reliable environment for trading.
Technical analysis is the handiest type of analysis and technical tools are used for analyzing the market technically. But traders have to learn how to use these tools to analyze the market.
You will find many traders on the market who don’t trade in the fear of losing. Forex seems scary to many people and being dejected after recurring losses, many traders also commit suicide.
Losing in Forex is a very common affair in Forex but when it is consistent, it’s a big hurdle and raises question about the capability. In this case, you need both global economic knowledge and market technical knowledge.