Let's start out with the most obvious. Just pull up a long term chart ( 4 hours and above) and see which direction it's going from left to right. Remember not to over complicate things. That's what usually destroys brokerage accounts.:)
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Let's start out with the most obvious. Just pull up a long term chart ( 4 hours and above) and see which direction it's going from left to right. Remember not to over complicate things. That's what usually destroys brokerage accounts.:)
you are right because if you don't have specific plan for your trading you will be lost in forex and make profit difficulty so at least before trading you decide which strategy you will follow and what is the suitable leverage
We must have a specific plan in forex trading if we are to succeed in this business. I make a good plan and make an analysis as well any time that i want to make analysis and then open forex markets.Quote:
Originally Posted by hemaabdo
before the trader start trading he should have the analysis of the market and then able to draw conclusion close to reality and then trade accordingly.
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The basic thing should be to look for others views and ideas what they feel about the rate as sometimes we go for sell when it is very clearly that the market will rise and than we face expected losses so instead doing research first is better.
HI,dear members before start trading in forex u must take the points bellow on ur calculation.the best way of before Forex trading you should learn firstly baby pips and should use it in demo account.it gives several important things such as lot sizes,different spreads currency pairs,take profit,stop loss,pending order,margin call.
before they trade in real account, they must have a plan for trading first, money management and risk management is very necessary for traders to minimum risk and maximum return when they trade. they should be good at 2 these skill more.
In my oppinion, before i get start in real trading, i will make a plan for it although in demo account i practiced for it much. New plan for trading in real makret, review my trading strategy and try to be confident when i trade.
Before begin dealing if you exercise trial consideration so you will get very excellent outcome.you can talk with one excellent professional investor who help you.and before begin dealing you have to management your feelings.