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Forex, or foreign exchange, is a decentralized global market where the world's currencies are traded. While it is possible to make money trading forex, it is not a guaranteed "money factory." Forex trading can be very risky, and many traders lose money.
Success in forex trading requires a lot of knowledge, skill, and experience. Traders need to be able to analyze market trends, understand economic indicators, and manage risk effectively. Without these skills, it is easy to lose money in the forex market.
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So I’ve traded Forex for around 5 years and became “profitable” about a year ago. I know all the basics of Forex but recently ran into ICT and enjoy the concepts he promotes(not looking for a debate about why he’s good or bad, everybody has their own opinions) and I’ve decided to become more interested in futures instead of Forex, due to the more predictable market patterns creating a larger move in futures compared to Forex pairs. My question is, what do I have to do research on to fully understand what I see. What’s the big difference between the 2?
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The forex market is open 24 hours a day in different parts of the world, from 5 p.m. EST on Sunday until 4 p.m. EST on Friday. The ability of the forex to trade over a 24-hour period is due in part to different international time zones.
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The choice between Forex and day trading really comes down to your trading style. Forex offers a broader range of currency pairs and is open 24/5, while day trading can involve various assets, including stocks and commodities, with a focus on short-term price movements.
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Such brokers are also called Market Makers. These brokers do take opposite of your trade and benefit from you losing on your trade. This practice is popular in Forex Market because it is not centralized as other markets. For example DOW, CME, Nikki etc centralizes the whole process, every trade that is executed is goes via their server. So the price you see on your broken screen is the real price that everyone else sees. This however is not the case with Forex. A Forex broker can increase the spreads and prices thus varies from broker to broker.
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Forex Trendicator has been a popular online platform that has earned a great reputation for serving the finest.
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Yes, it is. There's been numerous complaints. You would do well not to send them your money or information.
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in my opinion and as a professional, I will recommend this company my bro its working in KSA :
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study have shown that only about 5% of forex trader makes a fortune from trading , lot and lots have lose fortune, To be among the 5% you have to have an edge, a system.
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The economic meltdown of 2008 created high unemployment for millions of people, who despite their best efforts, have not found another job that completely replaces the income of their previous positron.
These people frequently consider the idea of starting a home based business, and some of them will explore the potential of trading the Foreign Exchange Currency Market, Forex for short.
The pros and cons of a home based business have been exhaustively discussed and will not be covered here.
Instead we will focus on what is needed for forex trade to be conducted from a home office, forex broker, a computer with high speed internet connection and trading software - frequently called a Trading Platform. Also the money involved must be discretionary risk capital that can be considered expendable.
The forex broker is your key to the forex trade market. Without the broker you have no access. Brokers charge a fee for granting this access called the "spread." This is how they stay in business.
The choice of a broker, beyond the initial decision to trade forex, is probably the most critical one. Fortunately, all of them offer free trials where you can check out their service and practice forex trade. These trails run from as little as a week to permanent, which is a nice feature because even if you trade "live," it is nice to have simulation ability to test new ideas.
Computers and high speed internet connections are mainly a matter of personal preference. Any decent computer from the past five years should be able to handle any of the common and popular trading platforms. The internet connection must be fast, DSL or better, and reliable, and you should strongly consider having a back up connection to the broker's server.
Trading software, aka. "platform" is also personal. Look for one that is comfortable to look at, easy to navigate and can expand as you gain experience. There are plenty. Try them, look for ones you can easily customize to suit you best.
The money, or equity you use to fund you account MUST be money you can afford to lose. This is where the greatest potential pitfall to a home based forex trade business comes in: While it is possible to make money, it is equally possible, probable even, that you will lose money. Many formerly salaried or hourly employees have a difficult time adjusting to this reality.
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Forex trading is the practice of attempting to earn a profit by correctly predicting the future value of the currency of one country compared to the currency of another country. A minor exception involves the euro currency that is commonly used by the 17 member countries of the euro zone.
Every day, world governments, multinational banks and companies and private speculators contend with each other to exchange one currency for another at rates that provide an advantage for one of the parties versus the other. On average, this practice produces a daily volume of around $4 trillion, a simply staggering figure when you consider that the entire annual GDP of the world's third largest economy, that of China, is around $5 trillion.
Forex trading is frequently compared gambling. There are both similarities and differences to be considered.
The main similarity is that both gambling and Forex trading involve the risking of money on an unknown future event.
A second similarity is that Forex traders and dedicated gamblers devote much time, energy and financial resources to devising a system or systems that supply an advantage of one sort or another in predicting the possible outcomes.
The main difference between gambling and Forex trading is that every gambling event has an ending point. Forex trading, on the other hand can go on indefinitely, as long as the trader's resources remain intact and the currency involved still exists.
The other key difference between the two is that with gambling events, the supplier determines the amount of risk that is available. With Forex trading, it is the trader who determines the risk. It is essential to comprehend the difference this represents. At a casino game that has a minimum wager attached to it, that amount also represents the maximum risk for the one finite event. A Forex trader can maintain a currency transaction for an indefinite period of time. Profits are capped only when the trader decides to close the transaction. The trader also determines when the level of acceptable losses has been reached.
Forex trading does offer a valid opportunity for a primary or secondary source of income, as long as the differences between trading and gambling are recognized.
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forex is a very risky business,it is a warning that forex is not a thing for everyone because of the substantial loss of money that is not predictable,you have to keep up with the exchange rate all day to succeed.i suggest you try something mmfsolutions.sg that can control your forex investment,regular updates about forex signals and no need top keep watch of anything. all you need is: *a will to succeed *a computer *an internet connection. *profitable Forex system
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I can tell you that Forex trading can indeed be a great option for the future, but it’s not without its challenges. I've explored various strategies, and I've had my fair share of moments where I've gone against the market trends. This experience taught me that flexibility is key.
Having multiple strategies in your toolkit can be beneficial, but it's crucial not to overwhelm yourself. You don’t want to end up second-guessing your decisions or jumping into positions out of impatience. Focus on a few solid strategies that you understand well, and stick to your trading plan.
Currently, trend-following strategies are gaining traction in the Forex market. My friendly advice would be to pay attention to market trends and consider using moving averages or breakout strategies to capitalize on momentum. Always stay adaptable and keep learning—trading is a journey, not a destination!
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Very highly possible : in this industry you have learn and master only one strategy and is called price action which help me so much in my trading carrier they is is this video about price action that really help alot you like to watch this YouTu
U can subscribe as well
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One can check the Forex markets on the Forex official website. The website Forex Markets is also a good way to check on all the latest news and charts regarding Forex.
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I'm not familiar with the term "forex cover" in the context of foreign exchange trading. If you can provide more information or context about what you mean by "forex cover," I'll do my best to assist you with a more relevant answer.
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EarnForex is a website that has a list of different Forex Brokers. Forex Trading Charts is another place to look and see a listing of different Forex brokers available.
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There are many places where one can find and read forex broker reviews. One can find and read forex broker reviews at popular on the web sources such as Daily Forex and Go Forex.
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Forex forums are available on Baby Pips. Forex forums allows conversation on many versatile subjects. There are also different types of Forex forums on different websites.
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Forex is a contraction of 'foreign exchange,' which refers to the global currency exchange market.
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Gulf Forex is a website provides traders like beginners like professionals with forex signals. Each forex singal is delivered directly via SMS or email in real time using a cutting edge technology. Gulf Forex works with high integrity in order to provide its clients with its Forex trading signals. Therefore, each forex alert is written and sent by a professional forex trader from a team, which monitors and analyzes the market 24/7 to hunt for the best forex signals available. Our forex signal service is based on quality and not the number of forex alerts. Hence, every forex trade signal is scrutinized by our professional team before issued, making it a top forex signal that is accurate and profitable.
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Forex training is learning the successful strategies and tips to perform Forex which is Foreign Exchange Trading. In Forex training you will learn about the foreign exchange market and how to begin.
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The best, most up-to-date Forex software can be found online at Forex SB and Software Forex. The software can also be found at FX Street and Leverage FX.
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The most accurate Forex forecast was the USD/JPY Forecast on May 1st. The website containing this information was Forex Cycle: Free Forex Market Analysis.
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Someone can inquire about managing their Forex account on the Forex website. On their personal site, Forex allows users to manage and view their accounts.
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Forex EA is an automated Forex software that follow some sophisticated logic and able to open and close orders by itself.
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Forex is tax-free and forex traders do not need to pay tax. Keep all your money for yourself.
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ALB FOREX TÜRKİYENİN SPK PNAYLI FOREX ARACAI KURUMUDUR. SİZLER DE FOREX AİLEMİZE KATILMAK VE İŞLEMLERİNİZİ GÜVENLE YERİNE GETİRMEK AYRICA FOREX HAKKINDA DETAYLI BİLGİLERE SAHİP OLMAK
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One can get updated news on Forex trading online at Bloomberg News or Forex Live. One can also create an account on Forex's website to learn more there.
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One can find information on future Forex trading from Easy Forex, ETX Capital, Forex Factory, Investing and Vantage EFX websites. Future forex trading is investing today in the hope of profiting from the investment in the future.
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One can view a live Forex chart from the following sources: Tradermade, FX Street, Daily FX, Investing, XE, OANDA, Robo Forex.
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You get accounts at Forex Managed on their website. The Forex website should be the only place where you get a Forex Managed account, as other websites not owned by Forex promising to give Forex accounts may be phishing scams.
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"Yes, Canada manages Forex accounts. You can go onto the financial planning website and learn more about Forex accounts and find a representative who will help you with your Forex account needs in Canada."
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Legitimate online Forex brokers are authorized and regulated. you should check that the broker is regulated and authorized for Forex trading in your country.
The leading Forex regulation bodies are: FSA, NFA and CFTC
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Some of the best online Foreign Currency trading (forex) websites are Easy Forex, and Forex dot com. Stay away from xForex, as their interface is said to be difficult to get the hang of.
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