Best possible ways to make money in forex trading

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3 years ago

We have to begin with the meaning of forex :

What is forex?

Is a decentralized world market where all the global currencies are being traded in pairs. This is the largest liquid market with over $6 trillion exchange per day.

In forex market you either buy or sell currencies in pairs which is quite simple. So if you have experience in forex trading you should be able to know all these.

HERE ARE WAYS YOU CAN PERFORM BETTER IN FOREX TRADING :

Study the financial market : This kind of market includes the investors, businesses, government and Central banks. Here all the transactions are done by the in open market. You should be able to monitor all the transaction flow to determine the currency pair you are going to trade on.

Do your own Analysis : Their are mainly two types of analysis which are the fundamental and technical analysis.

FUNDAMENTAL ANALYSIS :This is all about macro events that affects forex market.

TECHNICAL ANALYSIS : This include the price action on the forex chart. A better forex tools will help you to determine the chart flow thus you should learn about forex tools and how to use them to develop your own storage.

Identify a good broker : You should find a good broker such as Alpari, forextime, liteforex etc. A good broker will give you comfort such as good margin, equity, bonuses etc.

First start with a demo account : A good broker should have a platform for their customers to practice.

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