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    Step by step way to trade in forex trading.

    Many are trying to focus on finding a good strategy that they can use to trade and make profit in forex trading. In my part I can say that strategy alone will not going to make us success trader. What we need is to understand the step by step way to trade in forex so that we have good chance of earning.

    First step is try to do analysis. Because no matter what strategy you going to use if you don't know if the trend is going bullish or bearish then you are just going to gamble your way into trading. Secondly after doing analysis make sure you do risk and money management. Then that's the time you pick the best strategy base on your analysis and risk and money management.

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    Registered user riasgremory's Avatar
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    Quote Originally Posted by Tanjina View Post
    Agree. First step is learning, second step is gaining experience by trading with demo. There is step for every single things. IF we want to survive and want to get better return we should follow every step slowly, slowly.. No need to jump any step.Follow every step very carefully.
    processed slowly does not mean the time spent is also wasted. "slowly" I mean is slowly very very careful. However, not too careful too careful too will open a trader to be less in terms of psychological. Perhaps, it's good to always use learning right on time because all the processes can be produced as needed.

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  3. #192
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    Quote Originally Posted by riasgremory View Post
    processed slowly does not mean the time spent is also wasted. "slowly" I mean is slowly very very careful. However, not too careful too careful too will open a trader to be less in terms of psychological. Perhaps, it's good to always use learning right on time because all the processes can be produced as needed.
    You are correct about that, when we say slow and steady when trading, it means we think properly before taking trading decisions. Those who trade more faster don't take some good thinking before trading, they consistent take wrong decisions and which lead them to losing their money. We have to get to learn on how many successful traders has done it.

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  4. #193
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    Before taking a trade in forex, there is what is called analysis, we need to be able to make the good analysis before taking trades, if we can not make analysis we will stand a whole lot of losses. But on making good analysis then we know if it is right to buy or sell, hence why we need to learn first before we start dealing on real account.

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  5. #194
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    Quote Originally Posted by Darkhorse View Post
    Before taking a trade in forex, there is what is called analysis, we need to be able to make the good analysis before taking trades, if we can not make analysis we will stand a whole lot of losses. But on making good analysis then we know if it is right to buy or sell, hence why we need to learn first before we start dealing on real account.
    Before that, don't we need to make sure we have the right skills and knowledge of trading first? Because when we trade without the right strategy we will loss our money. Experience has made me get to understand the right way we can approach the market. Forex is a risky business, if we want to become successful then we have to follow discipline with good risk management.

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  6. #195
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    Quote Originally Posted by Makaveli View Post
    Before that, don't we need to make sure we have the right skills and knowledge of trading first? Because when we trade without the right strategy we will loss our money. Experience has made me get to understand the right way we can approach the market. Forex is a risky business, if we want to become successful then we have to follow discipline with good risk management.
    It is through the demo account learning that we have the step by step understanding of trading, the trading strategy we are making use of also will have a say on how we get to make money with the strategy, the best thing we have to do is to always make sure we have the right amount of skills and experience if we want to make money. We can earn money but we need to actually know the strategy we want to use.

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  7. #196
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    we can't use any single part to be worked alone. We need to combine few things at once and make them work. We can't success with only a good strategy, but also we need to understand both the risk and the return we will get from this business and understand each of every detailed information about forex trading. What makes you trade better, you're the only one who knows it well.

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  8. #197
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    There are many, many successful strategies, but is each strategy successful for you?
    of course not
    The best strategy is to match the amount of money available in the account
    Not only that but also use a suitable frame all the good times but there is only one of them is also the best choice of contract size and places of purchase is important

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  9. #198
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    the first step when we want to start in this trading business is to start using a demo account, there we will learn many things without having to worry about losing money. In this demo account we have to learn consistently against the system we use, and if we can be consistent profit at least 6 months in a row then we can switch using real account for trading, and in this real account we will learn about self-control and psychology and this will be much longer process than in the demo account. So the point is being patient in being serious about the process

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    Trader ara's Avatar
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    Quote Originally Posted by budado View Post
    First step is try to do analysis. Because no matter what strategy you going to use if you don't know if the trend is going bullish or bearish then you are just going to gamble your way into trading. Secondly after doing analysis make sure you do risk and money management. Then that's the time you pick the best strategy base on your analysis and risk and money management.
    I think analysis is a part of strategy, so a good trading strategy is already included about market analysis. Your step by step way to trade in forex trading is just about market analysis and risk management only, I'm sure you will not get success if you only rely on market analysis and risk management, whereas you are not talking about psychology.

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  11. #200
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    It is recommanded by traders to set some demo account first when starting trading on the forex markets . Some demo account will enable to get most from the currencies markets , because it will allow to deal with real conditions , and start implementing new systems on the long term . That could be helpfull for beginners , on the forex . It is also a good way to start making virtual profits before going for real on the forex eas and systems .

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