What are the thingswe should keep in mind while forex trading ?
Although we have to take care of many things while trading, but there are some basic functions that we should take care of while trading.
First thing, whenever we enter a trading, we should take care of its stop loss and target price.
We should not enter a trade without stop loss
Can we take forex trading as a profession?
Yes, we can take forex trading as a profession, but we need to start slow in this profession, for forex trading, we have to know technical analysis, it is very important that without this we cannot do forex trading.
Forex trading can make us rich but short trading strategies depend on whether we keep intraday trading swing trading or currency for a long time.
Eurusd technical analysis
Right now Eurusd is trading at 1.2156 level and it has made its support level on very short time trading chart. Now its 5 minute chart target for you 1.2170 level
It was trading in the range bound trading range for some time now, if it continued to trade on it after loving the 1.2170 labels, it could go up.
WIDELY USED BEST TRADING PLATFORMS FOR BEGINNERS
If you are a new trader in the market of foreign exchange know about all the platforms which are traders friendly and suits you more as a beginner, here is the list , which can help you :
1) PLUS 500 -- best for beginners overall.
2) E - TORO -- best trading platform for copy trading.
3) AVATRADE -- quality educational resources.
4) XTB -- best customer services as well as great education.
5) OANDA -- quality research, user friendly platform.
Best platform for beginners offers the user friendly web-based, strong variety of educational resources provide access to quality market research.
Being a trader in the market of foreign exchange you need a platform, Here is a list of trading platform used by the traders:
1) IG -- best for researches. -
2) CMC -- best web trading platform, most currency pairs.
https://www.cmcmarkets.com/en/
3) INTERACTIVE BROKERS -- best for the professional traders.
https://www.interactivebrokers.com/en/home.php
4) PEPPER STONE -- best desktop platform.
6) FIDELITY -- best order execution.
Trading & Brokerage Services - Fidelity
So basically here we have learnt about what are the mostly used platforms are and what specialization in their work are there.
