currently, USD/CAD is trading at 1.3503 with the negative bias. But we might see a reversal in the trend on upside for medium term where the target of 1.3586 would be breached easily if the sentiments remains in favour of US dollar. Technically, the short term trend would remain bearish for USD/CAD.
No, experience is absolutely not necessary if you want to start trading in forex market. What you require is patience and a lot of practice on the demo account.
Once you practice and check for the calculations of the forex markets, you get to know the secret of real time profits. Also, it is...
^ I don't agree with him. The higher leverage means more risks and might give deliver higher losses. The lesser leverage you take, the lesser is the probability of making losses.
Well i prefer leverage of only 50-100 X in my trading account.
Moving Averages of Convergence and divergence is one of my favourite too. Easy to use and highly reliable.
Also, MACD with RSI together works great and gives influencing results :)
Don't lose hope. Just focus in the right direction and trade. Once you know that you are wrong and need to study more on the market. Do it but don't give up.
Keep up the good work and always look forward to recover your loss.
have faith in yourself.
Currently, it seems GBP is in continuation trend and is likely to go further high if the symmetric triangle lines are broken up by the trend. Likewise can go down if it breaks the upward slopping trend line.
open a demo account with any of the popular broker and start trading with virtual money. Form your own strategies and remember the results of the same. it will surely take a few days to learn basics about the forex markets but its not that difficult. All the best!
Choose a broker with ECN spreads and no mark up costs because it only brings costs to you. Also, the commissions has to be reasonable and Fair. If you find some one like that do let me know!!
Demo accounts are operated by virtual money and therefore you only learn to use the software because the trades don't actually goes to the liquidity provider..
So if you are thinking to earn from demo you are wrong! you only learn the software!!
leverage definitely adds the risks but also allows you to trade higher and have better amount to gain in the market!
High leverage=High Risks=High Returns!!!!
Make sure you have studied about the currency pair to an extent that you know the momentum and trend of the currency pair. Do study the market and grab small profits, then you will win for sure.
There are a few things to accurate if you want to successful forex trader:
1. Approach- Assign a time frame which is best for the movement in the market and don't neglect long term profits while making short term profits.
2. Attitude- Dont be greedy to earn more. Be Desciplined with your targets...
Its not an easy task to make profits when you don't even know the ABC of the trading. You have to study so much to make out the predictions for the currency pairs while currently pairs are trading weak. To know more about forex trading and to make profits you should consistently watch markets...
Bonuses only adds confusion to my trading. Though traders in this industry do want to take advantage of the highest bonuses offered. The high leverage and bonus can throw a huge amount of profit at one side but on other side, it can also depress me as i might lose my own funds in frractions of...
Forex trading have alot of aspects to cover, One can never be sure of the upcoming trend. The practising trading will make you a better forex trader as you will get to know so much about the current trading and economic conditions of the global market.
First step to know the basics of the forex...
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