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Thread: Solid understanding

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    Default Solid understanding

    The most important thing in forex trading is to have a solid understanding of the basics. Only after mastering the basic rules traders can expand their knowledge to more complex strategies and methods. I learned trading from my broker Eurotrader. This broker offers the best trading services, including leverage up to 1: 500, low and narrow spreads.

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    In hedging, traders buy and sell an asset simultaneously. It is a kind of risk management strategy. However, not all broker allows this kind of trading strategy. So, broker carefully if you want to use this kind of strategy. The demo account is the best way to test any kind of trading strategy which broker allow or not. Luckily my broker Forex4you allow all kind of trading strategy in the market.

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    A channel is a trading range of two lines, a trend line, and a concurrent line used to find trend direction and trend pattern. There are three types of channels an ascending channel, a descending channel, and a sideways channel or ranging channel. Traders use the channel for technical analysis. Traer can easily draw a channel in MT4 and MT5 trading platforms. My broker TP Global FX provides both platforms.

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    There are several types of Forex brokers, but their main job is to provide traders with access to the Forex trading market. Spend time learning what broker to choose. Many brokers, such as Eurotrader, provide traders with educational resources. The broker also offers leverage up to 1:500 with no requotes, no hidden charge, and many more.

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    Forex scam or fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high or double profit by trading. Most of the time unregulated brokers offer such schemes to defraud traders in the forex market. So, it is wise to trade with a regulated one. I am also trading with regulate broker called Tpglobalfx.

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    Best strategy is the strategy that works for you. The strategy that works for you may not work for me. Every body sees the market differently. For some people it's 5+5= 10 and for some people it is 8+2= 10. Try to understand the market. Read charts everyday. You will find the market sentiment. Start with a single pair. Do not run for ready-made strategies. There is no holigrail. Like trading system, broker is also very important. I am also trading forex from home with Forex4you broker, a regulated broker. It gives a wide anger of administrations like low spreads as low as 0 pip, up to 1:1000 leverage and a wide variety of technical tools.

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    I agree with you that we first need to understand the basics of Forex and yes every newcomer should practise demo for at least six months and then can start real trade.

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    Eurotrader is a reliable ECN trdaing broker, allowing traders with a bunch f trading facilities including 1:500 leverage, narrow trading spread, fast execution, smart bridge technology, 24/7 active customer support and high security of funding.

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