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  1. #1
    Senior Trader
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    Do not try to fight with market.

    When getting into Forex as a trader, you need to determine you market niche and the way you will handle it. Always concentrate on the market you have chosen and do not go against it. Do not break your rules into Forex as this is more of a risk than a trade.

    Your market niche should you and make sure you have exploited it well enough before you can think of moving into the next level. Do not hurry and start to trade on any available opportunity in Forex as this is a danger and can lead to unwanted losses.

    The market is the guidance and do not go against the available conditions as this will set you for a wrong path. Making a loss in Forex is very easy if you first do not stick to your plan and losses can be hurting too. Always take time to study the market and remember that Forex is determined by the prevailing market conditions.

  2. #2
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    Truly agree, learning about currency market is a continuous process and it takes quite some time to master the currency and understand it’s prevailing rates. Sometimes the currency market may be profitable on the other hand sometimes, it can lead to losses.

    Forex is a good business and leaning is an ongoing process in this currency market. No one can claim to know everything since this is a global business that spreads from one part of the global to the other and can’t be controlled by an individual.

    Forex business will also require a good detailed business strategy and it must be well documented in order to work. It takes time to come up with a good strategy as you have to taste the water in the market place. No one can guess and develop a business plan without first trading in Forex.

  3. #3
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    Anyone in the world can make a business plan but not a Forex trading plan. The currency market is unique in all aspect and cannot be taken for granted by a trader. The currency values can appreciate and fluctuate anytime hence need proper study by a Forex trader before making an individual step towards the market.

    As an early trader in this field, you can’t fight against the prevailing market forces but you should learn to live with them. For example, as an individual, you can not control the currency market since many nations are involved and with many brokers here and there. You must also live with the current market conditions that are unavoidable. However, with good understanding of the Forex rates, one can make a good choice by investing at the right time when the currency market is favorable and the harvest is so rewarding but the business is risky too,

    A newbie should not rely on brokers or personal emotions to make Forex decisions as this more dangerous since as a trader you must make genuine market decision. Take time to understand the trade as this is more helpful when it comes to developing strategies.

  4. #4
    Senior Trader
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    Of course! It is so much important that we have to make sure to have a very good understanding and the best knowledge and skills before we can get into trading this business. There is no trader that can be able to enter into the trading business and can success if the trader do not have to first study this business so much well and then be able to earn a very good living from the business.

    On the other hand, when we are still new in the trading business, we should not fight to get money from this business by forcing. The money in this business don’t just come like that and without the traders been able to work thing out first to know how to trade this business first.

    Traders in this business should make sure they have enough patience in trading this business so they’d don’t get into so much losses in trading this business. Hard work and patience is so much impotent issue here and the Forex traders can be able to trade this business and earn so much. Actually, success is a natural process, it comes for knowledgeable traders automatically.

  5. #5
    Trader
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    Forex is a risky business and we can’t earn money here by trading as we like. Earning money from Forex market is a skillful art and involves proper analysis and study of the market. Based on these analysis we need to take our trading decisions not instantly, We should also know the importance of money management and risk control when we are trading in a risky business like Forex.

    On the other hand, beginners do not have trading experience and hence they need to trade carefully. In addition, beginners can concentrate on leaning by trading with small lot size. We can’t learn everything about Forex with a help of a demo account. Actually, we need to lead our practice account in a right way. There are several things that we need to learn with real trading. When beginners trade with small lots they are actually working with real money and can learn a lot.

  6. #6
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    Also with that you need to avail the opportunities that are given to you by Forex. What that thing you can get success and can have what you want from Forex market. It’s better we have to trade in the business and expect what we deserve from the business than expect what we want from the trading business. You have to taste the water in the market place. No one can guess and develop a business plan without first trading in Forex.

    Anyone in the world can make a business plan but not a Forex plan. The currency market is unique in all aspect and can not be taken for granted by a trader. I think it is the good idea in the Forex market that when we start the trading first then we need to understand the market and know the nature of ths financial market.

  7. #7
    Senior Trader
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    Quote Originally Posted by Steve nison View Post
    Also with that you need to avail the opportunities that are given to you by Forex. What that thing you can get success and can have what you want from Forex market. It’s better we have to trade in the business and expect what we deserve from the business than expect what we want from the trading business. You have to taste the water in the market place. No one can guess and develop a business plan without first trading in Forex.

    Anyone in the world can make a business plan but not a Forex plan. The currency market is unique in all aspect and can not be taken for granted by a trader. I think it is the good idea in the Forex market that when we start the trading first then we need to understand the market and know the nature of ths financial market.
    We will need to use a Reliable trading based plan.

  8. #8
    Senior Trader
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    The foreign exchange market is a global network of exchanges, brokers, banks, institutional investors and retail traders who buy, sell, borrow or lend different currencies throughout the trading day. Each currency is regulated by a central bank, which determines the currency's supply and interest rate.

  9. ARIONFORXtarder
 

 

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