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A good strategy and analysis are only good options for making money with forex. Even if you do a good analysis, if your strategy is not good, you will end up with unstable profits. I'm a scalper. I am trading with Eurotrader suitable for scalping. Both MT4 & MT5 trading platforms and much more tools and indicators are also available with this broker.
Forex is the best source of income in the trading world. The income from trading is infinite. Forex trading is kind of expensive if you are not using high leverage. However, many brokers like Eurotrader offer high leverage in the current market. My broker also offers a variety of services such as tight and low spreads and easy and quick account opening.
Traders have their own trading strategies that they select according to their trading understanding. I am a newcomer in Fx and started trading with small balance , for that reason I always have to depend on short time trading approach scalping . in spite of being a scalper I do prefer long term trading which is more safe than short time trading approach . but I have no way right now because of tiny amount.
Analytical knowledge is highly important and traders should earn knowledge of both technical and fundamental analysis.
You can go for both long and short term depending on the market situation. Forex is an uncertain and volatile market where nothing can be accurately predicted. So, using stop loss can shield traders from sudden losses. FXOpulence puts no restrictions on using stop loss and take profit.