In copy trading you choose a successful trader and subscribe to his strategy which means you basically follow the strategy and plan of action of another trader. Copy trading may be useful for beginners who are new to the market. They can follow the strategies of the experienced and skilled...
It is a fact that like any other market, forex trading too has its risks. Forex market in itself is very dynamic, unpredictable and speculative. You need to be really proactive if you are trading in forex as the market changes every moment and if you don't follow the market you may not be able...
This concept is very nicely and adequately explained. I also tried other resources to understand this concept but they weren't as insightful as this one.
All the above mentioned trading strategies are equally efficient under specific trading conditions. Traders should choose their trading strategy subjectively considering their personality type, level of discipline, capital available and risk tolerance.
An efficient trade includes elements like a well calculated trading plan, strong risk management and good emotional health. Forex trading can become risky if any of the above are not accurately placed.
Gamblers are more uncertain about their chances of winning than traders. Traders can minimise their risks by using certain trading risk management tools or techniques which is not possible in gambling.
Forex trading can seem complex for beginners due to the volatility in the market. It takes time for new traders to adjust to the constantly changing market environment.
Beginners need to be patient to understand the nature of the market.
The Forex market is lucrative but is not as easy to trade as it is portrayed by many people. Forex trading is highly risky if the trader is not careful about his trade or neglects the risk factor that is involved.
Right! Chart patterns help traders to efficiently conduct their technical analysis to make their trading decisions rationally based on facts and figures.
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