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Joe Hoover

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  1. Various trading strategies are designed and developed with a view to fulfilling the trading objectives of forex traders. For example- you want greater liquidity than scalping can be greater scope. But if you have big capital or you require long term profit then long tern trading is better but with the greater risk and low liquidity. So; before trading with any trading strategy; pros and con of each strategy has to be evaluated.
  2. Today I have seen that many pro traders are offering forex online training courses which are highly appreciating. But when it comes to the effectiveness of these courses; many new babies are not getting trade basic fully through these courses. I will suggest them that when you are going through some training; try to practice your learning materials with the demo trading accounts or after completing courses try to implement your study basic so that you can be able to get familiarity with the real trading fully.
  3. It is not the matter that how many indicators you are using. If accurately understand and interpret, we will examine the truth that all the proper indicators will provide identical or comparable indication towards the market. Furthermore a trader should possess superior analytical abilities and intuition so that he can comprehend the forex market appropriately making the use of diverse technical indicators like candle stick charting, pivot point, moving average MACD, etc.
  4. Brokers are the essential elements of forex market and traders need to select brokers as per his trading requirements. Thereby I have selected ForexChief since I always prefer regulations and a high security of my funds. ForexChief is a medium that ensures me mutually benefited trade executions all the time. I am fully satisfied with its services since it is giving me lowest zero spread, 1:400 good leverage and adaptable MT4 platform which can be operated from any device and re-quote and slippage free orderly trade executions all the time.
  5. The key to success in forex is the hard work and perseverance. There will be many instances where traders may feel to quit. Again they have to come with full courage to bounce back by identifying the mistakes. Forex is a zero sum game and for me it is almost resemble to trial and error. Without proper trading style and adopting appropriate trading strategies your journey can be smaller here.
  6. Forex market is becoming exceedingly competitive and taking trade decision is becoming harder for the traders today so various fundamental and technical analyses are showing paths to the forex traders. Various technical indicators are used in order to carry out different technical analyses. And technical analyses are used to get an overview about the future price movements by analyzing past and present information. And in order to conduct technical analysis, various technical indicators like pivot points, moving average, candlestick charting, MACD, etc. all are widely used.
  7. Many outsiders and insiders of forex market just think that forex is money making machine which can't be true in reality. Yes; this world currency market can provide versatile earning opportunities to earn good money. But forex trading can be a hard working task! Because maintaining a consistency in earning profit is not a mere project for a limited span rather it is a project which will require a good amount of knowledge and skills about forex market. And with a great patience and perseverance a trader needs to ensure his profitable trading journey.
  8. Many outsiders and insiders of forex market just think that forex is money making machine which can't be true in reality. Yes; this world currency market can provide versatile earning opportunities to earn good money. But forex trading can be a hard working task! Because maintaining a consistency in earning profit is not a mere project for a limited span rather it is a project which will require a good amount of knowledge and skills about forex market. And with a great patience and perseverance a trader needs to ensure his profitable trading journey.
  9. I am also a part time trader and amazingly I am a student also. I am in forex market because as a finance graduate I want to peruse my career in financial market i.e. as pro trader. And I am now practicing forex trading with demo trading accounts and with very small live trading accounts. and as a beginner I prefer scalping since scalping gives me the opportunities to invest in smaller trading lots and to earn smaller to moderate profit without taking not too much risk.
  10. Broker is a bridge between the forex trader and forex market where currency trader get the opportunities to get communicated with the counter-party in a common floor. So we traders are always in a thirst to find that best trading platform that will provide regulations plus all flexible trading facilities. Thereby I believe that broker selection is a highly difficult task now and I have been working with my broker ForexChief since it is providing me lowest zero spread, 1:400 good leverage and re-quote and slippage free timely and fastest trade executions all the time.
  11. Forex is a zero sum game. And we all traders have to deal with uncertain and volatile forex market due to its infrastructural nature as well as with the exchange rate risk. Various risk management modules are now being developed with a view to helping the forex traders to hedge their position against risks. Proper knowledge and skills about forex trading can help the foreign currency traders to a great extent to deal with this highly competitive and risky market area.
  12. Broker is an essential stakeholder of any financial market and even in the forex market this particular entity is contributing highly so that customers or prospective traders of currency pairs can engage in benefited trading to earn good money. But when you will Google by searching “forex broker”, you will see that millions of online brokerage houses and all of them will claim many facilities. But the harsh truth is that majority of online brokerage houses are scammers and please try to be very careful before deposit our hard earned money with any broker.
  13. Thanks for sharing your views on the type of orders. However, order is the basic term that is extensively we using while trading in any financial market. Basically order shows an entry or exit price on a currency pair in the forex market. Two general categories of orders are: market order and limit order. Stop loss, trail stop, take profit, etc. all are various forms of limit order or pending order.
  14. Thanks for such a nice initiative to introduce forex market and forex trading in a brief. Forex market is becoming popular as a potential investment field and no such trader will want to invest in this currency exchange market without knowing the basics of trading. And your post will enlighten the new babies. Forex is a virtual trading platform that allows currency traders to exchange currencies from anywhere and any time since it is a 24 hour market.
  15. While selecting any broker, a trader gives focus on security of funds as well as flexible trading facilities so that he can engage in successful currency exchanges all the time. And before selecting any trading platform a trader should conduct proper due diligence since there exists thousands of online brokerage houses. Thereby I am working with a licensed broker ForexChief since it is providing me lowest zero spread, 1:400 leverage and a high security funds.
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