Before forex trading, you need to understand what you must have to succeed. The forex market is very profitable place, like no other, but also very risky. Many of those who were unable to earn the foreign exchange market, and only lost to him, and all that they have taken away from there - bad memories. But to take a forex no memories, and the money, only need to follow a few simple rules:
First, the conduct of trading on the forex market, it is important to have good nerves and composure. This is a rather delicate process - opening / closing of the transaction.
Secondly, a high level of discipline. Forex is the system, and any system is best, we know from the example of the working discipline and not impulsive. Work on the foreign exchange market should be adjusted and systematized.
Thirdly, it is important to have the necessary knowledge. Before you start trading, you need to know how to analyze the market, what are the different types of it. Also well-examine existing policies, it is good to understand how you can build your own.
The main types of analysis
Fundamental analysis of the market. Here come to the work performance of national economies. It is important to monitor the economy news, politics (which may have an impact on the economy), force majeure, that may affect the currency.
Fundamental analysis is used to see the picture of the exchange rate as a whole and understand what to expect in the long run.
Technical analysis of the market. currency exchange rate analysis can be carried out and graphically. Using motion graphics in exchange rates, it is possible to understand the basic trends and movements to build the chart different figures, predicting where the schedule of the course will go further.
Computer analysis of the market. This type of analysis has more to do with math, which holds itself PCs and provides analysis of the results using indicators. But you can not fully trust indicators, soulless machine and can not calculate the psychology of human behavior in the market.
His type of analysis
There are other types of exchange rate analysis, only less popular. Three types of analysis chosen here, enjoyed by almost all traders.
In most cases, the combination of these three analyzes give a certain result prediction, which may be close to the real. The use of any one of analysis can not sufficiently make an accurate prediction. Most often, these three types of analysis items is added from the less popular ways. So, as a rule, are born independent Forex market analysis strategies.
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