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How to be a good forex trader


how to be a good forex trader

you want. Have the same attitude toward trading. Here are the four strategies to serve you well in all markets, but in this article we will focus on the forex markets. Trading is an art, and the only way to become increasingly proficient is through consistent and disciplined practice.

This is how you discover alignment within your system. Repeat this exercise regularly to adapt to changing market conditions. On the other hand, choosing weekly charts indicates a comfort with overnight risk and a willingness to see some days go contrary to your position. Trading off a five-minute chart suggests that you are more comfortable taking a position without exposure to overnight risk. You must know what information you will need to make the appropriate decision onĀ entering or exiting a trade.

For further reading, see " 9 Tricks of the Successful Forex Trader. It is a good way to get acquainted with forex markets and helps understand your trading style (Scalper) and approach technical analysis. This practice requires patience and discipline to achieve success. Your system should be reliable enough so that you can be confident in acting on its signals. Choose a Broker Who Offers an Appropriate Trading Platform. Were you too greedy? If your stops are further away than 2 of your account, trade shorter timeframes or decrease the leverage.

How to be a good forex trader
how to be a good forex trader

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