In this video, you will learn about when to buy and sell in forex trading. Beginners in forex trading find themselves in difficult situations to get the timing right for buying or selling in forex market. Should you buy with the trend? Should you trade the range by using support and resistance levels?
So, do not attempt to defeat the market. Wait for clues and hints that the market gives you and follow the course of the market. Your emotions should not control your trading decisions when few trades go wrong. You should be able to control your trading psychology by developing a trader's mindset.
An existing trend will likely to continue in its direction. So, use it to find the future direction of the market. So, buying with the uptrend gives you a better risk to reward ratio. Sometimes, reversals will also happen. So, be prepared for that.
Losses are inevitable in forex trading. So, you must practice money management in a demo account before moving to trade a real account. You will be able to grow from a small trading capital over time.