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Forex Price Action Explained

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Forex Price Action Explained may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader.

FX Trading steps 

  1. Choose a currency pair. Decide which currency pair you wish to trade. …
  2. Decide on the type of FX trade. There are three ways to trade forex with City Index Spread Betting, CFD or Forex Trading. …
  3. Decide to buy or sell. …
  4. Adding orders. …
  5. Monitor and close your trade. …
  6. Closing your trade.

You can take two micro lots because 25 pips x $0.10 x 2 micro lots = $5, and $5 is the maximum we can risk on a $500 account. Starting with $500 will produce more daily income than starting with $100, but most day traders will still only be able to make $5 to $15 per day off this amount (with regularity).

Forex Price Action Explained In the forex market, you buy or sell currencies. Placing a trade in the foreign exchange market is simple. The mechanics of a trade are very similar to those found in other financial markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.

Ic markets is a broker of choice with over 1300000 Live Accounts opened. 

Forex Price Action Explained Forex scalping is a trading strategy used by forextraders to buy or sell a currency pair and then hold it for a short period of time in an attempt to make a profit. A forex scalper looks to make a large number of trades and earn a small profit each time.

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