top secrets of successful trading in the foreign exchange market in the Forex.part 1
There are many different views when trading in the global currency market (Forex):
Some traded according to fundamental analysis, others consider it ineffective and tell you
Focus all your energies to read the tables of technical analysis.
Some experts will tell you by taking advantage of the leverage available to the forex market,
Others will tell you to stay away from leverage, in that as the crane
Finance, the greater the risk.
The following are some general tips for Mtajery Forex.
Which can all be summed up in one principle, which is objectivity.
You do not have to follow each of the followers of these rules literally, but I consider the type of signals
Philosophy followed when trading Forex. Some of these rules may be inappropriate
For all traders, but general information, intended to guide you to the path of success.
1.: The initial self-knowledge: this shall
Rule on almost any effort to take your responsibility in your life, especially if it involves a
Before trading one point in the forex market, it is necessary to know yourself.
what's this mean?
There are methods of countless trading, so before you begin these
Trip, choose your style.
But, do not choose this method randomly.
Set your goals short-and long-term, select how it intended to reach this
Objectives, and then decided which method suits you best for trading based on your personality.
Each method of trading advantages and disadvantages, and risks of its own, so when choosing
Method, select it by type of personality. For example, if you know about yourself that you only
You can go to bed and leave your position open in hopes of profit in the long term,
Then do so.
If it were not of this type of characters, this would result in raising the level of anxiety which
In turn, will lead to your failure in the future.
2. And the right Forex Broker: What to specify
The type of Forex trading is right for you, you need to find a Forex broker fits your style.
Not in a hurry in this matter.
It is possible that this will be the most difficult decisions to be taken when it comes to
Forex broker you choose will have no doubt the greatest impact on your success or your failure
Forex as shops.
Choose a facilitator if you choose a car.
No one goes to the first car dealer and buy the first car he sees it.
Must be read from two different brokers, and the advantages and disadvantages of both of them.
You must do an extensive comparison of many mediators Total market.
The lower the tray to a small number of intermediaries, should be compared between trading platforms
For both of them based on the method that you chose the first step.
For example, if you think you're more than just a dealer trading in the short term,
Make sure that the broker you choose offers comprehensive tools to support this method as part of the platform
Make sure that the broker you choose meets all your requirements from the service consumer support and even
Main site status.
3. Selection and application of the approach: As mentioned
Previously, there are two main schools of thought when it comes to analyzing the market and the expected
School of Technical Analysis is based on the famous sentence, "the trend your friend".
The basic assumption is that the market has the sort of consistency and logic in his movements.
If the move in this direction today, there is no justification for the lack of action in the same direction tomorrow.
There are several types of tables to help you analyze market trends and indicators also
Then there is a school based on fundamental analysis, what is driving the market is already the State News
This method will tell you Petrkiza less on the scales yesterday and focus more on yesterday's news.
Like many things in life, Both methods are not ideal, and stores the successful
Uses both methods.
However, you must pre-determine which trading will be the main approaches, and to abide by it.
If you think that the fundamentals play a greater role for trends, and focused your analysis and your outfit
To watch the news and not to analyze the tables. Consistency of thought is the name of the game.
4. Synchronization of the tables: If you do not abide by
Curriculum you have chosen to step 3, you'll spend a large proportion of your time looking at the market tables
As explained, there are several different types of tables, but most simply show thing
The same but in different forms.
soon part 2 of secrit of successful trading in the foreign exchange market in the Forex.......