In Forex market, you are trading with all over the world. There is no boundary in this market and it is open to all of the traders from around the world. The global market has made Forex one of the highest money market in the world. When traders are coming to the Forex to make money, they are only concerned about their strategy and currency pair. It is good to know about your market strategy as it is the only thing that separates a successful trader from an average trader in the market.
Most of the time, traders come to the market without any strategy. This market is highly volatile and taking profit from your trade is a thing that very small number of traders has mastered. Your currency pair is also important in your money growth. Not every currency is as popular like the other currencies and traded by the most of the world. Currency pair which is most popular and widely used by traders from all over the world are called major currencies. These currencies are the price level that makes a trader rich or broke.
Consistency in trading
If you want to be a consistently profitable trader in Forex, you should not know only about your market strategy and currency, you also have to know about the global economy to trade the market when any fluctuation arrives. There are many traders who have sufficient knowledge about their currencies and market strategy, but they cannot make money. it is because of their negligence of global economic news. If you are trading in GBPUSD and suddenly there is an earthquake in the United States, you should not trade the market in GBPUSD. The price of the dollar will fall and it will have an impact on your trading profit. If you look at the Professional Aussie traders then you will notice that every single one of them is focusing on the fundamental factors while trading CFD in the financial market. In order to make a profit make sure that you execute your trades based on technical and fundamental factors.
Risk management factors
Most traders don’t want to hear the economic news as they think that this news can distract the traders from their primary objectives in the market. You should not trade every news you hear in the market, only use the news that is relevant to your trading currency to make a profit or to stop loss. Ignoring the news will result in misanalysis of your market trend. However, after doing all the math in the forex market, you will often have some losing trades. So when you trade the market always make sure that you use proper risk management factors in every single trade so that you can withstand consecutive losses very easily.
Price action trading strategy
Price action trading strategy is considered to be the most reliable trading system in the world. If you look at the professional trader in the forex market then you will notice that most of them are using the highly reliable candlestick pattern to trade the live assets in the market. It's true that mastering the art of price action trading strategy will be a little bit difficult for you but if you trade with patience then within a few months you can easily master this skills.
Conclusion: Forex is a global economy market where all currencies are interrelated. Know every information about your currency before trading in the market. If there is a change in your trading economy, stop trading the market until things resume. Always try to trade in favor of the long-term prevailing trend and use price action trading strategy to reduce the risk exposure in trading. When you execute any trades in the market make sure that you are not trading with emotions since it will jeopardize your trading career.
Hello! I apologise if these topics have already been discussed at length previously.
My partner and I are looking at moving to the Mt Martha / Mt Eliza area from St Kilda in the near future with our now 13 month old daughter. Just wanting some advice on the area including schools, friendliness etc.
My daughter may have a rare condition (purely physical..a form of Dwarfism), this is not yet diagnosed and we will not have confirmation or otherwise for at least another few months, however it's looking like my partner may be offered a job prior to us having the diagnosis. So, keeping this in mind we obviously have to think quite carefully about the community, schools, bullying etc. I'd love to hear about your experiences with schools in the area and i guess just the vibe of the area in general.
My partner and I won't know anyone in the area. Is it an easy enough place to make friends and become an active part of the community?
Thanks in advance for your help.
Hi, I have lodged my 189 visa case on 28th September 2016 and on 7the November 2016 Co asked me to provide notary attested copies of Pcc, ielts test and my divorcee decree/certificate
Due to some circumstances I have asked for extention on 29th November 2016 and then submitted all my requested documents on 10th December 2016.
Now til date I have not received any update on my case. Can someone help that why it is taking so much of time.
I am a resident of India
I will be very glad if anyone can shed some light on it
Right now this wait has decrease my moral.