What is the right time to trade?
Forex market open 24/5. The forex market starts at 5 pm EST on Sunday and ends at 4 pm EST on Friday. Not at all times of the day are good for trading. It is best to trade in a volatile market. During a nonvolatile market or high volatility like an important news release, it is hard to trade. Know the perfect time to trade according to trading strategy and in terms of spreads. However, my broker Eurotrader always gives low and tight spreads.
According to me, forex trading is profitable enough to be a worthy career choice for those who wants to earn money sitting at home. There are so many people who earn lots of money through forex market. It needs to know some basic techniques and a good broker. Techniques help you to decide where to invest and how much. On the other side good broker suggest or advice you what is good for you to make profit. I use TP Global FX as my broker. they help me to make decision about my trading.
Traders can learn many things from demo. Actually, it is the best place for learning trading. Trader learn about trading platform and broker condition like spreads, leverage, slippage, execution speed in demo account without losing account. Forex4you provide free demo account. If you make a small mistake in real account it will cost you money. So, there no place for mistake in real account. So, learn in demo account and then invest in real account.
Forex is a game of probabilities. Probability means you possibility to win the trade. Now the percentage will depend on your strategy and your risk reward ratio. It is not possible that you will win all the trade. If you risk reward ratio is 1:1, then you have to win more than 50% of your trades. And if your risk and reward ratio is 1:2, then you can be profitable even if you win less than 50% of your trades. So learning the risk management is very important in Forex. I took a course from Tpglobalfx broker, there I learn a lot about risk management. I also like the brokers low spreads and minimum trade cost.
Trade at the right time to reap much gain on the market. Try to learn how to maintain proper money management in trading before diving into trading. But the approaches traders adopt as part of their profit maximization plan are wrong so many traders are failure to gain sufficient amount of trading profit. All the facilities of Eurotrader broker are helpful for profit maximization.
Greedy Forex traders may face this kind of situation in their trading since they expect unrealistic profit! But professional Forex trader are not facing here any big losses because they use money management rules so honestly! Now I use only 2% risk reward ratio in my per trade position!
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