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Brendan Hill

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About Brendan Hill

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  1. Sometimes there is a misunderstanding among the minds of naïve forex traders that chatting for whole day or analysis of every aspect can help him to win the market. But somehow by doing so he is actually falling in the process of micro management where he is obsessed with extra thinking, extra analysis which can lead even very stressful trading journey. If you see a lot of market movement, the process of micro-management will be activated in your normal routine.
  2. What is the basic investment of a foreign currency exchange trader to start career in the forex market? The answer is very obvious: an internet enabled laptop or computer along with trading account opened with a reliable broker in the forex market. But apart from the basic investment one thing can make you different: your trading skills and knowledge that can ensure that how well you can accept your earning potential with a view to making profit out of it.
  3. Broker is the medium that can help a foreign currency exchange trader to reach the forex market. But there are thousands of online brokerage houses which are extending their helps towards forex traders. It is the responsibility of a trader to select the broker that can fulfill his trading needs. Thereby I have selected ForexChief, a regulated broker which is ensuring me safe, timely and regulated trade executions with lowest zero spread, full capital preservation, 24hours trading services and expert assistance.
  4. Forex has good potential to be a income source for those who are planning to be professional traders. But if a trader is planning to take trading as profession, then he must remember that trading is a long term perspective for them. If a trader wants to participate in the forex and wants to win, he will definitely need long-term perspective, well-built morale, continuous training of several years, study and good attitude.
  5. Good trading style or adopting proper trading methods can help a forex trader to make an intermediate trades. When a trader adopts proper trading methods he gets the full confidence to take immediate trading decisions. In general, a trader should spend sufficient time to understand which methods, short or long term best suited to his trading requirements. However, a forex trader will require good deal of market understanding to take decisions promptly.
  6. There is no argument on the reality that no matter whether a trader is experienced or naïve trader, he should continues his learning since forex is a not a stable market place. Each time the market moves, a trader needs to change or at least modify his trading strategy. For this reason, a forex trader will always need good trading knowledge. Thereby many brokers are now offering trading lessons designed for pro traders and for the new traders but in diverse organization.
  7. Forex market is an uncertain investment field where trading risk is present all the time. Even after full proof planning and perfect trading entry, forex traders can face losses since there is no guarantee that market will not change. Thereby mental preparation is necessary. Every moment a trader should prepare him mentally to accept any circumstance of trading. Otherwise where traders are not prepared to accept losses can found them weakened most probably.
  8. Leverage is a trading facility enjoyed by a foreign currency exchange trader where he can borrow funds from his broker against the initial margin in his trading account with that broker. Though with the help of leverage amount of investable funds can be increased; it is not that high leverage is good. I am enjoying a moderate level of 1:400 from my broker ForexChief and it is sufficient for me.
  9. It is not that only winning trades can teach you about the reality of forex trading. From the historical perspective, it is seen that one of the most excellent ways of overall growth of a forex trader comes from the learning associated with the failed trades. a trader can better understands why his trading strategy failed and how he can avoid this mistake further to engage in profitable trade executions.
  10. It is always said that anything extra is not good for us. Specially over trading is one of the major faults that foreign currency traders make so frequently. A trader tends to enjoy overtrading also sees superior trading opportunities in the very general environment which is not really prevailing in the market. In other cases, it brings a kind of addiction to a trader's mind, which can lead excess riskiness.
  11. There is no disbelief that traders are unique in their trading needs. So; while carrying out trading activities a new trader can analyze the success and failure stories of other currency exchange traders. But there are many traders in the forex market. Many traders are taking forex trading as their main source of income. On the other hands; students or some housewives or job holders are trying to earn money from forex as part term basis.
  12. Forex being the largest decentralized market has some infrastructural disadvantages also. Inherent riskiness of forex market can possess great threats for the currency exchange traders. Even traders can face serious losses in many instances due to the impulsive and unpredictable nature of world economy. So; if a trader wants to be successful; he needs to be very careful and must handle his emotions to face difficult phases of the trading journey.
  13. Traders can see that diverse forex brokers are available to serve them. But not all brokers can ensure them customized trading services. It is the main task of a forex trader to select a broker for him that will provide him trading services accordingly to his trading requirements. As a scalper; I have selected ForexChief; a licensed broker. It is providing me safety of funds along with lowest zero spread; good leverage of 1:400; expert assistance and 24/5 trading facilities.
  14. Today traders have diverse trading options in the forex market. Furthermore traders are choosing to trade forex, binary or CFDs as per their trading requirements to trade according to their trading plans. On the other hand, I don’t favor binary option trading since there is higher uncertainty connected to the trading of binary option trading. I think forex trading is safer than binary options and therefore I am trading conventional currencies actually.
  15. Traders need to analyze the market behaviors to understand what is going on in the market place. While trading in the forex market, a trader needs to adopt proper risk management tools to deal with uncertainties and volatilities inherent in the market. However, if a trader makes decision after full due diligence and he can at least get an understanding of the future price movements this trading journey can be little easy for him.
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