There is no doubt that forex is truly 24 hour market where a foreign currency exchange trader can take participate in trading from several market sessions or centers. A trader can make investment as per his desire as a trader has the flexibility to trade with both short term and long term trading investment strategies. Just a trader needs to understand what he is actually demanding from the currency exchanges.
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Traders have unique needs
- Thread starter LorrainMor
- Start date
Basically, traders need to understand the difference between supply & demand; then they will able to identify the market trend. Of course, they should follow the trend.
Every trader has some different techniques of their own. So, don't copy. Try to make your own techniques.
Do not trade out of assumption. Learn how to trade effectively. Don't be hurry. It needs time to be profitable. Don't chase pips. Focus on developing skills and abilities, pips will come automatically. Do not treat forex like gambling.
Most people can make some random profit trade. But making money consistently is the toughest job. It requires good understanding of the market and a sound and composed mind.
every trader has to make a solid trading strategy to make money from this market.
You need to be aware of the basics. It is not possible to make a pillar without knowing the basics.
A trader has many goals. But I have to go through many steps to reach that destination. You have to trade from beginner to professional level.
Right thinking, forex trading has full freedom. Where you can do business by investing as you wish. And this is a job where it is possible to double the investment in one month.
Forex trading can make a lot of money if you gain the right knowledge.
This is the best part about trading forex. You are free to trade the way you want based on your individual requirements and trading goals. You can build your own trading plan and make changes to it if it doesn’t work. Not having to follow any rules to trade makes trading a great career for many traders.
Very true! Loved what you have written.
We are all different types of personalities and it is quite obvious that we won’t have the same life goals. So, it’s better to choose your own way of trading rather than following someone else.
Every trader has some unique techniques. All traders have to make different strategies according to their ability.
Traders have similar needs but different goals. These goals make them alter their techniques. Some want to make quick but small profits, some traders want to make huge profits and are okay with a longer time period.
I agreed with you, Javier. Every traders have their own goals that they wanted to achieve which is what set different from one another. At the end of the day, making a consistency in profit is one of their goal
@Suzzaine89 Glad that you liked it! I hope newbies understand how important it is for a trader to be well-versed with their trading requirements to actually take advantage of the price movements to make some money.
I think the traders should first learn the basics of/have a proper understanding of technical analysis. The aim of making money in forex can be achieved faster then, in my opinion.
Every trader is different. Have their own way of trading.
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