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Myra Wilson

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Myra Wilson last won the day on January 5

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  1. There is no shortcut in forex trading. Traders need to spend time to learn and practice for improving their trading abilities. The demo account is the perfect place to practice with real price action. Traders should focus on learning and practicing rather than making money. Most brokers like Eurotrader offer free educational material to learn to trade in the forex market.
  2. The trader uses previous price data to determine future price movement is called analysis. There are two types of analysis technical and fundamental. Both are important to trade effectively. Some traders ignore fundamental analysis. It is equally important as a technical term. I learned about technical and fundamental analysis from Eurotrader free educational courses.
  3. Chart patterns are one of the most powerful tools for technical analysis in trading if you use them correctly. There are a lot of trading patterns in the market. It is hard to memorize all. Try to remember major patterns like Shooting Star Candlestick; Doji Candlestick; Hammer Candlestick. MY broker Eurotrader provide me all the Trading patterns in their educational courses.
  4. There are two types of brokers in the market. Dealing Desks and No Dealing Desks. Dealing Desks brokers trade against you and No Dealing Desks don’t. No Dealing Desks brokers are unable to trade against their clients, thus, no conflict of interest. These types of the broker are my broker Eurotrader which give direct access to the market with the benefit of higher liquidity.
  5. Support and resistance level are used in technical analysis. Traders also need both to set their SL and TP in trading. So, it is essential to know about those two levels. You can learn easily online, there is a lot of information available regarding those two levels.
  6. The analysis is important in the forex market. It gives a high probability to predict the right decision. There are two types of analysis in the market. Technical and fundamental. Some traders ignore fundamental analysis and trade with only technical analysis. Both analyses are equally important in trading. My broker give me all kinds of the necessary information about the market which help in my analysis.
  7. Scalping is one of the most popular trading strategies and it is also a profitable trading strategy. The new trader often prefers this kind of trading strategy because it requires less time to trade. Within a couple of minutes, you can trade and make a profit in this kind of trading strategy. However, scalpers need low spreads to make this work. That’s why Eurotrader offers the lowest spreads on major currency pairs.
  8. Forex is one of the riskiest markets in the world. 90% traders lose money in trading. Traders can even lose their whole capital overnight. So, trade carefully. You can even manage your risk easily. As for me, I only take 2% risk per trade. I started trading with only $50 in Eurotrader. I recommend new trader should start trading in demo account first.
  9. Books is one the best source to learn trading. Traders can learn easily from books. There are lot of free books available in internet. They provide free educational course to all kind of traders. Always practice in demo account what you learn. That’s why you can ensure what is best of you what is not.
  10. A good trader defines as who make consistent profit in forex market. It is hard to do but not impossible. Traer need proper knowledge and skill to consistent profit in trading. It is also easily achievable. There are lot of way to learn forex trading. As for me, I learned forex trading from free educational course.
  11. Spreads are the difference between buy and sell price. It is a small price that all traders have to pay to their broker in order to trade in the forex market. Low spreads are always better to save some pips in trading. Some trading strategies like scalping need low spreads to make the strategy work well. That’s why I am trading With Eurotrader which provides the lowest spreads starting from zero pips.
  12. Forex market only currency market. Traders can make a profit from the rise and fall market, unlike stock. Brokers offer high leverage so that small traders have the same opportunity to make a profit as big traders. Unlike other brokers, forex broker offers more lucrative facilities to traders. As my Eurotrader offers low spreads starting from zero pips and high leverage p to 1:500.
  13. Forex trading is kind of hard and complex especially for new traders. They often struggle in trading. They lose lot of money to learn. They often do simple mistake which can easily be avoided. So, it is better to spend more time to learn trading. That’s why my brokers offers free educational courses to all kind of traders.
  14. None of noting can control the forex market. However, there are many factors that influence the price action of a currency. Damn and supply are one of the main reasons for that. It is a basic concept of trading which all trader should now about it. As for me, I learned from my broker Eurotrader free educational resources.
  15. Many traders want to start making a lot of money. When People see low spreads on some currency pairs and decide that they need to choose and trade such low spread pairs in order to save costs. But every currency pair has a personality and that traders need to gain as much experience as possible in trading some pairs, know them and trade better. That’s why Eurotrader offers low spreads in almost all currency pairs.
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