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What is Forex Trading?

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  • What is Forex Trading?

    Forex trading as it relates to retail traders (like you and I) is the speculation on the price of one currency against another. For example, if you think the euro is going to rise against the U.S. dollar, you can buy the EURUSD currency pair low and then (hopefully) sell it at a higher price to make a profit. Of course, if you buy the euro against the dollar (EURUSD), and the U.S. dollar strengthens, you will then be in a losing position. So, it’s important to be aware of the risk involved in trading Forex, and not only the reward.
    • Why is the Forex market so popular?
    Being a Forex trader offers the most amazing potential lifestyle of any profession in the world. It’s not easy to get there, but if you are determined and disciplined, you can make it happen. Here’s a quick list of skills you will need to reach your goals in the Forex market:
    Ability – to take a loss without becoming emotional
    Confidence – to believe in yourself and your trading strategy, and to have no fear
    Dedication – to becoming the best Forex trader you can be
    Discipline – to remain calm and unemotional in a realm of constant temptation (the market)
    Flexibility – to trade changing market conditions successfully
    Focus – to stay concentrated on your trading plan and to not stray off course
    Logic – to look at the market from an objective and straight forward perspective
    Organization – to forge and reinforce positive trading habits
    Patience – to wait for only the highest-probability trading strategies according to your plan
    Realism – to not think you are going to get rich quick and understand the reality of the market and trading
    Savvy – to take advantage of your trading edge when it arises and be aware of what is happening in the market at all times
    Self-control – to not over-trade and over-leverage your trading account
    As traders, we can take advantage of the high leverage and volatility of the Forex market by learning and mastering and effective Forex trading strategy, building an effective trading plan around that strategy, and following it with ice-cold discipline. Money management is key here; leverage is a double-edged sword and can make you a lot of money fast or lose you a lot of money fast.

  • #2
    You have already explained it very well, I believe the best way towards achieving positive results here is through knowledge and experience while it’s also to do with practicing regularly, if we’re doing that then we’re going find success. I am glad that I trade with OctaFX broker and with them it’s always easier for me through their epic Southampton Supreme demo contest where there are unlimited prizes, so it’s very special and makes it so attractive to be part of this amazing contest.

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    • #3
      Good definition, basically before opening my demo account I studied on this kind of topic, even I worked on mt4 trading platform before opening any trade position in demo! In addition, luckily I found advance trading knowledge through free educational series of trade24 broker, like video tutorial series, free trading eBook and live trading analysis (technical and fundamental both kind of analysis)! This is way, now I do only Forex trading for my financial freedom!

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      • #4
        Choosing a broker is not an easy task at all. so we the traders in particularly the newcomers should choose our brokers in cool ,mind , please don’t choose a broker in an emotional state , because the broker can affects the result of our trading with certainly. I have chosen LQDFX broker in my trading career due to a wide range of trading facilities. And this regulated trading broker for all time make sure secure trading environment for their clients by proving security of funds at any investments. So, I for all time feel secure and comfortable when trading.

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        • #5
          Forex trading is a sort of business that you would be extremely happy with if you learn to work it out, as there is massive amount to be gained through it. But all this is only possible if we are doing hard work and focus on right direction. It is extremely easy through FP Markets because they are offering wide range of benefits from ultra-tight spreads at 0 pips to over 1000 instruments, daily market analysis, insights and tips. There is much more available, so all this is highly working in our favor and makes me entirely comfortable.

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          • #6
            In Fx trading for making profit with great consistency we the traders have to depend on our trading strategies that we select according to our trading experience , in my trading career , from my first day of trading I have been using scalping strategy that brings profit in a short time. and for using this trading policy in a proper way I have chosen TempleFX which is real ECN Execution trading platform and permits scalping including lowest trading spreads as well minimum margin requirements. so, my trading life is very much comfortable for all time when scalping.

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            • #7
              I could not recommend at any broker which I have not used or verified, because there are almost thousands online broker are available in retail market place and most of them are found to be scams. But I can recommend only LQDFX which I have been using from my first day of trading due to secure environment for trading. Actually this credible broker for all time ensures security of funds at any kinds of investments with a wide range of trading technologies. So, I feel comfortable and secure for all time when trading.

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              • #8
                FX trading enables you to guess on the adjustments in currency qualities after some time, trading monetary standards and purchasing or offering one against the other. Forex traders look to benefit from vacillations in the trade rates between monetary forms, theorizing on whether one currency's esteem, similar to the pound sterling, will go up or down in connection to another, for example, the US dollar. Currently I'm trading with FXPM broker. It is a leading regulated forex broker. It provides a wide range of services like low spreads, up to 500:1 leverage, free signals and personal account manager.

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                • #9
                  If you want to get maximal result in Forex , besides good trading knowledge you have to be a reliable support from a credible trading broker which is very much dedicated by providing a wide range of trading technologies. My trading career, now I am with LQDFX which always ensures superior STP Execution for trading , lowest trading spreads for using any kinds of trading strategies, low transaction cost, easy withdrawal system without long time process and much more real trading facilities . so, my trading life is very much comfortable.

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