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Traders need a good strategy to make a consistent profit in the forex market. There are a lot of trading strategies in the market. However, the trader should choose or build one according to their trading style and preference. Every trading strategy should backtest in the demo account first. If it can generate a good result, you can apply it in real trading. Also keep in mind that, many brokers restrict certain trading strategies. But my broker Eurotrader allow all kind strategy.
A trader should follow some rules while he is trading in the forex market. He also should have enough knowledge about forex. Low knowledge can be the cause of lost his capital. My advice for all traders to learn all the tools and techniques of forex very properly before starting the trade. Trader can get knowledge from so many sources. On the other hand, He has to know what should trade and when should trade. He also needs to choose a good broker with low spreads and high leverage. Broker's demo account can help him to learn all the tools and techniques of forex market. I am currently trading with Tpglobalfx. They help me to take decision at right time on right place. I love them because of their easy trading policy and customer support.
Risk management is the most important job in trading. Traders should pay attention to price and volume. Continuous self-awareness is also needed in successful trading. The trader should ignore the opinions of others and focus only on those that work statistically. I am trading with Forex4you. I am always trying to understand the trading environment generally but take caution of price behavior. It is easy to say but difficult to do.
My broker,FreshForex, helps me to do this with readymade analysis. Whenever my broker finds a sharp price fluctuation in my portfolio it shows me some suggestion to buy the opposite pair of my current holding that may occur losses in the future. I don't need to worry about it anymore. FreshForex is here for me as an angel since I started trading on forex and also has automated signals, warnings, and news for my portfolio whenever I need it.
Broker is an important element of Forex. A broker can be the way of making profit or facing loss. So it is very important to choose the broker wisely. Low spreads, dynamic leverage, ease of trades are some features of good broker. I am also a trader. I always use TP Global FX. Because they provide me low spreads starts from 0.01 pips and maximum leverage of 1:500. They are also very much cooperative.
We shouldn’t respond to calls of scam brokers because these brokers are fraud. They develop their marketing policies with some fake alluring packages. Traders must be very much careful about selecting brokers. But I have been with Eurotrader broker for a long time and this is really a scam free broker.
As a scalper, I always following scalping strategies and as indicators I always use moving average, RSI and Bollinger bands. FXOpulence provides all necessary trading support to traders and never delays in sending back withdrawn fund.