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One biggest mistake for many new traders is starting to trade Forex without a solid Forex trading strategy.The Forex market is really attractive because it operates 24 hrs a day and you can trade when the market is going up or when the market is going down and in the eagerness to make money, or prove themselves they dive headlong into trading.Does that mean the beginner Forex traders cant make money?Yes, you can make money trading Forex…and its if you are a beginner trader and you get into Forex trading and start making money right away, you should be very careful to let ego overcome you.You can make a fortune trading currencies in the short term but soon this will lead to a bad psychology and trading discipline problems and you’ll end up blowing up your forex trading account.Good trading discipline, psychology and humility are only achieved through experience.To be successful in Forex trading, you need a strategy/plan in place which you must follow.Creating or finding a Forex trading strategy is very important as this addresses the following:Reason for taking the trade:
why buy or sell?
And what currency pair?
Timing of the trade: why buy now?
should you buy or sell after economi…
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skyisthelimit avatar

Good article. Nice information.

Sebine avatar
Sebine 18 Apr.

Good luck!

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The journey to success in Forex trading begins with self-introspection and discovering the trading style and strategies that suit your objectives, risk appetite, lifestyle and own unique circumstances. It is imperative to find a trading technique that is in sync with your personality than to try to conform to someone else's idea of a "proper trader". This article seeks to help traders discover their own trading styles.

The first port of call is assessing you level skill, competence and preparedness for the task of Forex trading by answering a series of questions. These questions if answered correctly will help in moulding a top notch trader. The best trading style for any individual depends on many factors including the reasons to trade, availability, work preferences, requirement for flexibility and level of patience
  • Reasons to trade:
Understanding the reasons behind the trading will help in setting the overall objectives and understand how trading will fit into your lifestyle. Answering the following questions will help you understand if trading is the best thing.
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vap61 avatar
vap61 12 Apr.

сильная статья,проработаны все аспекты торговли,лайк!))

Sebine avatar
Sebine 18 Apr.

Good luck!:)

rashadali avatar
rashadali 27 Apr.

goood article 

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  • Introduction
Yes, you heard it right. I am ready to lose in forex trading. To put it in perspective I have to have big heart to accept losses in forex trading. I have accepted that I cannot be correct all the time with my trades. And if I have to select between risk and reward, I will select risk first. That is how much I will lose if my trade goes in not the way I would have liked. So I am ready to lose a little and want to limit my risk on every trade. I think it is first and foremost thing to know the risk on my trades beforehand.
I cannot move price of any pair even by 1 pips. I simply don’t have that moving power. So what do I do? I also want to make money. So I will do what others are doing and making money. The good news is that I can see what others are doing. And I can see that on my charts in terms of technical analysis and price action. Others are also seeing the same chart and taking positions and collectively they move the price. So if I can do what others are doing, I will make money as others are making.
  • An Example
I will trade what I see on my chart. The recent example I will give of 12-14th 2017 July AUD/USD charts. I could see AUD/USD broke above 0.7630 convinc…
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FXNOAD avatar
FXNOAD 28 July

very good!

Yuliya_N avatar
Yuliya_N 28 July

it is very important topic in trading.. be ready to lose in forex

PipPoint avatar
PipPoint 4 Aug.


miriam1313 avatar

me gusta este artículo

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International financial markets, be it of currencies, commodities or stocks, provide investors the access to most liquid market on the planet. Thanks to the advent of cloud computing, buoyed by syndicated efforts of all market players to popularize it further and to catapult it into the trillions dollar worth arena. Given the inherited charming associated with the market, tally of fascinated participants in the marketplace augments day-after-day from all the continents as it work round-the-clock (24X5) to satiate investors’ appetite for investing. Is the market really there to satisfy the needs of all involved? Honestly enough, it’s not. There are a lot of reasons to warrant it. Available statistics shows that around 95% of investors losing their money in the market and other 5%, the professionally seasoned segment becoming rich or ultra rich, may be gradually but surely steadily. I know it may sounds like an irony for many, But it is an undisputable fact and understandably, hard to digest. While looking at this shocking statistics, I feel it is better to explore the differentiating factors of distinctiveness of the said seasoned traders and what does make aforesaid 95% of invest…
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piter44 avatar
piter44 22 July

In my opinion pretty nice work but little boring and to long. Do not offend please, I started with similar articles :)

Try little shorter and obviously it needs some pictiures, read recommendations:

Also You can read my articles, for this one I heard many warm words

and 2nd which is little boring but it is my story so I'm gonna write it to the end :)

Wish You all the best!

Ola avatar
Ola 23 July

to long :)

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Yes, it is true, for those who do not know or do not remember the Strategy Contest makes this April Three Years, since its first edition was launched, in 2010. In May 2012 I wrote an article about the Second Birthday of the competition and after a year I am back with the same theme as I think there is a need to do something to restore the credibility of the contest as well as the motivation of contestants.The Strategy Contest has always been somewhat controversial as to compliance with the rules by the participants, which further implies in the final results. As in last months, this contest has again been the subject of debate in our Community Forum, my purpose is to bring an article to debate this matter further so we can definitely have a fair contest according to the rules. The problem here are not just participants that break some rules, but we also have to put some weight on the Dukascopy Team for not enforcing the rules strictly. The issue of non-compliance with the rules is not a new issue regarding this contest, perhaps because the rules are far from be the best, perhaps because some participants do not worry whatsoever fulfill them or simply because Dukascopy forgotten how…
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LinnuxFX avatar
LinnuxFX 11 Apr.

I the past I submit my idea to Dukascopy Team, why do not have same rules like annual EA contest from MT4 / MT5. Provided strategies are filtered before they could participate in the contest...

sircris avatar
sircris 16 Apr.

I agree with you, LinnuxFX. I sent a complaint about the issues that You cite here: the contestant involved did not fix their strategy, and he responded with an arrogant attitude, when I gave him the chance to fix his strategy before contacting Dukascopy. But Dukascopy response was no better than that of Pontius Pilate. The rules are, it is necessary to enforce them! I am waiting the Dukascopy response to the clear violations of the last month.

Brasileiro avatar
Brasileiro 17 Apr.

+ like

alifari avatar
alifari 28 Apr.

Some very important points raised which could be useful, if implemented in future strategy contest rules.

xiaozuwei avatar
xiaozuwei 28 June

Excellent point, strategy contest is like a gambling! Sooner or later will hit the prize.

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