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For successful forex trading Perfect money management is very important. Before investing money every trader should check the money management of their trading platform. Form the beginning of the trading career trader may not be a professional trader. But they should stop their trade whenever there is a possibility of loss. Also they need to understand the market. Because forex market will not remain always same. To understand the market a good broker can actually help a trader.
Forex refers to the exchange of currencies, so here every trader works with a currency pair. And there is no argument that currency is one of the most volatile assets in the world. So traders here want to predict a currency value and take decision thereby. I am also always trying to move as per the price movement of currencies and executed the trade as per price movements and it is called taking decision as per money flows and I must admit that my broker AAFX always help me in taking such decisions.
Every day several events are occurring towards the world which are directly and indirectly affecting the market flow. The market remains up and down flow as a result of that. Those who are fundamental analyzer keep their sight on these events. But technical analyzers don’t need to have these. As a technical analyzer I have essential trading tools with Trade12 broker. The broker’s platform includes more than 250 technical tools and user friendly.
Trader use many indicators and trend line to understand the trend of the price. Every trader wants to trade with trends. On the other hand some trader don’t use any indicator some use lot of indicator. So you can analysis price action with simple candle stick if you have knowledge and trading skill. Now I am trading CapitalsTrade. it is a regulated broker. It helps me to gain knowledge about forex market price action.
Forex is one of the largest decentralized markets where forex traders need to understand the market flows efficiently to ensure victorious journeys. After understanding the market, a trader should develop appropriate money management skills so that he can be better able to take the advantage of market situations and prevailing market behavior. And obviously, a trader should know where to stop and how much risks he will be able to bear.
Beware of Westernpips, they are totally thieves, TOTALLY SCAM! I bought their system of Arbitrage, and it is a totally fake, it’s like a losing machine of your trading account, it opens randomly trades depending on some gaps and 99% of these trades are losing trades, and some time the system not works at all, this is not a real arbitrage, and then when you try to contact them about these problems via Skype, they hold you on for hours and hours before start replying you, and then they told you that the problem is from broker or from EA settings, I tried a lot of brokers and lot of settings and the result still the same: ONLY BIG LOSSES, they are liars, they are a group of Russian crooks, they are a one of Forex mafia, I lost my money and everything with them, so, again beware of dealing with this gang!