Your Guide To Successful Forex Trading

[ardhendukumar]

Successful trader for needed many many practice needed and very needed about the forex trading.I think that if your this subject wish so your developed possible.

 

[chintu]

It is always better to chose just one pair of currency if we are a newbie to forex and we can avoid the confusion and its always better to be careful in investment in forex because forex is a very complex business and its risky factor is very high . its always better to start with a high investment .

 

[Tirus]

Yes, you can be able to focus much better if you are following one currency and better off one that is more popular because you can be able to find information about it easily online. One you are confident in yourself and your knowledge of forex you can decide to add another one.

 

[riddick09]

Either we have one pair or currency then, we should have reliable online resources that will give us good details about that pair. And I think also that slowly try to learn those pairs related that the currency we are trading. There's a lot of popular forex news sites that we can get the latest news like bloomberg or NFP.

 

[ayushsrk]

It is always better to chose just one pair of currency if we are a newbie to forex and we can avoid the confusion and its always better to be careful in investment in forex because forex is a very complex business and its risky factor is very high . its always better to start with a high investment .

Choosing just one currency pair is going to rather limit your chances of gaining more and not only are they going to limit your chances of gaining more but they are also going to limit the chances of you to gain more knowledge about various currency pairs.Because if you are going to stick with just one currency pair then you are only going to know about that.

And another drawback of the choosing of one currency pair is that you are not going to become able to choose and trade with any other currency pairs rather than that.And when the market of that pair is going down then at that stage it is that you will be losing in the trades for sure.

 

[Tirus]

Either we have one pair or currency then, we should have reliable online resources that will give us good details about that pair. And I think also that slowly try to learn those pairs related that the currency we are trading. There's a lot of popular forex news sites that we can get the latest news like bloomberg or NFP.

It actually even helps when you are concentrating on one currency pair because you are able to put your efforts and research towards that currency. For expert traders this might not be a problem but for beginners it would be rather advisable to start with one currency pair.

 

[chintu]

Forex forums always help me to learn many things in forex and this is the only place where may of the traders will be getting together and discussing many things so that make me be active in many forums . and updating our forex knowledge with the latest news is really very important to get success in forex .

 

[budado]

It actually even helps when you are concentrating on one currency pair because you are able to put your efforts and research towards that currency. For expert traders this might not be a problem but for beginners it would be rather advisable to start with one currency pair.

That's true. Although right now I'm trading eight different pairs. I started with one pair only. eur/usd. I told myself when I'm starting. If I'm not making money in one pair how can I earn in multiple pairs? that's why I only trade one pair. But once I make money. I add second pair and its usd/cad and add one more each time I make a good monthly trade and since I'm trading for 11 months now I have reach a point that I'm trading eight pairs at the same time right now.

 

[junaid1001]

I think proper learning is most important for the trader, if any one want to become a successful trader then he/she should have to learn Forex trading first and then he/she should have to practice a lot in demo account,this will help him to gain some experience about trading.

 

[indieover]

Yes there's so many guide on how to be a good trader. You just need to give enough time to practice what you have read and learn. You must practice patiently so that you can learn things pretty well. So for me you must learn a lot as much as possible.

 

[Tirus]

Its really important to learn forex trading in order to be successful at it but its also really important to put in some practice as well. Knowledge alone is really not enough to give you what you need in the real account as you need to gain some experience as well on how to operate the trading platform and practice your strategy.

 

[junaid1001]

I think if any one want to become a successful trader then he/she should have to learn Forex trading first and then he/she should have to practice a lot in demo account,this will help him to gain some experience about trading.

 

[rexway]

Yes that is true anyone who really want be succesful in forex trading he must try his own possible best and make sure that he learn all what it should take him to survive because forex is not a child play business were you think that you can do it without skills

 

[Taha Nizam]

Often we have one couple or currency dealing then, we should have efficient internet sources that will give us good information about that couple. And I think also that gradually try to understand those couples relevant that the currency dealing we are dealing. There's a lot of well-known currency dealing information websites that we can get the newest information like bloomberg or NFP.

 

[Taha Nizam]

Yes there's so many information on how to be a excellent investor. You just need to provide plenty of your time and energy and effort to exercise what you have study and understand. You must exercise with patience so that you can understand factors fairly well. So for me you must understand a lot as much as possible.

 

[kasual]

the idea to learning a lot and practice a lot is must and every trader that want to be success should pass this process. currency market is excellent way to gain good income but in other side, also contain high risk and if not aware with it, maybe trader will come up with failure.

 

[riddick09]

I think that's not practical to think that it's a MUST for traders to have lots of practice. But it will be depends on how the trader doing in their trading. Do you think that trading for years will become worthy or it is still the same. Because, there are certain factors that we should look into not thinking just to practice a lot.

 

[Taha Nizam]

Its really essential to understand currency dealing to be able to be effective at it but its also really essential to put in some exercise as well. Information alone is really not enough to provide you what you need in the actual consideration as you need to obtain some encounter as well on how to function the dealing foundation and exercise your technique.

 

[Hanif_bhutto]

Yes there's is alot of factor and good knowledge sucesses trading.

 

[PROPENSITY100]

Forex market is open 24 hours a day and it does not mean that we should also trade 24 hours a day. We should only enter a trade when we are more certain of making money than losing in it. We should not enter a trade unless we expect a risk reward ratio of 1 : 2.