General advises and experiences sharing for forex traders

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Luke Hansen

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Forex is a zero sum game, so a foreign currency traders needs to carry out all their trading activities after full analysis. Various analytical approaches can be used by the traders such as technical and fundamental analysis. So, it is good that traders take decisions after analyzing major aspects of trading, like currency pair decision, spread, price fluctuations, market volatility, etc. however, apart from using various technical and fundamental analysis, a trader should also use various risk management tools like stop loss, trail stop or take profit.
 
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aqibFXmart

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analysis is needed in forex trading. with good analysis it will make a good decision
 

Electric Rainbow

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Every potential trade will be followed by analysis paralysis. Too much risk analysis and too little patience.
 

Luke Hansen

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Forex is one of the most potential investment fields today where traders are receiving chances to earn money from home. But unfortunately, majority of forex traders are not successful in this business due to lack of proper money and risk management. So, it is the responsibility of a forex trader to ensure proper management of his funds, risk and time properly, otherwise he may lose his whole trading accounts also.
 

Luke Hansen

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What we will require for technical analysis?

Whenever we are thinking about technical analysis in the forex market, we generally have to deal with various charts. Many traders favor technical analysis because with the use of various charts and analyzing important technical aspects they acquire the easiest way to get an idea about the market before. We can see past trends and models for determining the market, which allows us to trade well. For the effective use of technical analysis, we need reliable and trust worthy trading platform where very good charts can be observed.
 

SeanBlair

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Hi Luke, the most important things in forex trading is forex calendar event..That's all.
 

forexfactory

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Forex economic calendar is needed indeed, especially by news traders. However, you can not use the calendar to determine the smoothness of a trend. To study the behaviors of a certain currency pair, you need technical analysis at its best.
 

KariPlov

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Your every move on the Forex market can prove costly. So, you need to take every step with proper analysis and planning. Risk management is the key factor for getting success. You also need to have a backup plan as well for wrong moves. Best of luck!
 

anna.serea

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I save my profit using "take profit" order and minimize my loss using "stop loss" order.
 

forexfactory

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Fundamental analysis is more important to me, since I feel the news move the market most. Staying close to the economic news and calendar will give you unexpected profit. News trading is more profitable. Tenkofx provides timely news everyday as a push notification, which helps me make quick profit.
 
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