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Trade EURUSD with minimal risk and keep your struggle running. Use technical and fundamental analyses as weapons to conquer the market. You can conquer Forex trading with flourished tactics and better strategies.
You have to understand financial astrology for better trading, which is a pseudoscientific practice of relating the movement of celestial bodies to events in financial market by definition.
Traders should pass at least 3 years researching the market every day. Trading in high spread-consuming trading pairs using high leverage makes traders suffer losses. Alongside so, high spread means your broker is taking high commission from you for each trade opening.
Evil habits destroy us and these tendencies are revenge trading, over-trading, using high leverage, gambling, which are never good for us. You can lower the number of losses but can’t avoid it fully. Don’t go for taking revenge on the market.
Forex changes its direction quickly, which is a fact for which traders suffer losses the most. You can capture the market movement if you can analyze the market properly.
Make sure the platform you are trading on is free of technical errors like dealing desk, slippage and requotes. Almost all brokers allow traders with demo trading account which you can use to learn.
Learning and passion will bring success for you. If you find any lacking in your performance, then recover it as soon as possible because it is the spell of surviving in Forex for long.
Patience and learning are the key to trading success. Try to increase your knowledge through reading e-books, following experts, watching video tutorials, and using demo account.
RSI, Stokistic, Moving average, Bollinger bands and fibonacchi are top indicators. By using multiple trading strategies at a time, a trader can reduce the number of losses he suffers. Traders can produce a cogent signal when they use multiple indicators at a time.
You can trade using robots but it will be risky for you. You have to use a robot for a long time to prove its performance. Use indicators and market analysis and consider global market situation as part of this analysis.
Work on your strategy to increase its effectiveness by warding off its pitfalls. This practice is rare among traders. Traders should use multiple strategies at a time to produce better signals.
Try to gain more pips through market research. And don’t seek advice to those who don’t have sufficient market knowledge. So, you have to be selective about picking up an advice. Study the market more and more to take a conception about the market because it is congenial.