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David Meyers

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About David Meyers

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  1. Forex trading is risky business. I think all will agree with that statement. However, you can control risk with proper risk management. So, trader should learn about that and use it all time. Never trader without risk management. I learn about risk management in free educational course which Eurotrader provide to its client. I learnt almost all about trading from that educational courses.
  2. In forex trading, different between ask and bid or buy and sell price called spreads. It is charge of broker which have to pay trader for trading. Spreads varies broker to broker and currency to currency. However, some trading strategy like scalping need low spreads for trading. Spreads can make huge different in short time trading strategy. Especially scalper always look for low spreads broker like Eurotrader.
  3. Many traders come to the market thinking become rich overnight. They come to their sense after losing lot of money. So, trader should set a realistic goal in their plan which they can achieve and try hard for it. Broker plays important role in this kind of situation. Broker spreads, leverage impact trading plan greatly. So, chose broker according to your trading preference. As for me I chose to trading with Eurotrader.
  4. Forex is a risky market. New trader often lose money in this market. I recommend to use demo account first which Eurotrader provide it for free to any kind of trader. Demo account help you to learn about trading platform and broker. Trader can also test their trading strategy without losing any money. If new trader invests in real account without demo practicing, there is a high possibility to lose the whole capital.
  5. Forex is one the riskiest market in the world. I think leverage make it risker. Almost all broker like Eurotrader provide high leverage in the market. So, without proper risk management, using high leverage is kind of dangerous. Trader may lose their whole capital with couple of losing trades. So, learn about proper risk management is essential in the market.
  6. Fear is a human nature. It is hard to avoid. Traders often suffer most due to fear of losing money. As a result, they make mistake in their decision making. Loss is unavoidable. However, trader should not use the money what they cannot afford to loss. Try small investment first. I also started with only $50 capital in Eurotrader. After making good profit for couple of months I invested big money.
  7. The trader can make a profit from the rise and fall price. Forex trading has both bid and asks prices. The bid price is the price you want to buy the currency, and the ask price is the price you want to sell the currency. Unlike stock, you don’t have to wait for fall prices. You can buy and sell a currency pair in a second with Eurotrader fast execution speed and make a profit.
  8. Forex trading involves currency pairs. A currency pair is the quote of the currency of two countries combined for trading like EURUSD, GBPUSD. Currency pairs are valued against each other. The trader buys and sells currency pairs to make a profit. I only trade in EURUSD and GBPUSD. However, my broker Eurotrader provide lowest spreads in all major currency pair.
  9. Risk management is indispensable for trading. Before you make a trade entry, you need to calculate the lot size and the amount of risk you can afford. Don’t invest what you cannot afford to lose. So, it is wise to start with small capital. I also started my trading with only $50 in Eurotrader. But, most brokers required a minimum $100 initial deposit.
  10. Most of the newcomers come to the market hoping to get rich in overnight. However, in reality, they never accomplish that dream. On the other hand, they lose all their money n trading. So, don’t come to the market with thought. Try learn about trading then go the real trading. I always recommend to demo practice first. Eurotrader offer demo account for free.
  11. A very good understanding of the market is important to achieving success. Many traders come into the market and consider it as a money-making machine. Many traders are here to make money. But while making money is good, it is unwise to expect excessive profits from the market. First learn trading in demo account. Then think about making money. Eurotrader provide free demo account.
  12. Leverage is the percentage that characterizes the margin, which is the sum of capital. With leverage, traders have the permission to use to access a larger portion of money compare to their trading capital. Leverage can also increase both profits and losses. It also needs to be used with caution. My broker Eurotrader offers up to 1:500 Leverage. I also use it with proper risk management.
  13. There are many factors in the area of Forex trading. As a trader, you must consistently study, learn, and expand your current information. But with the right equipment and training, you can continue to be a successful trader. So, focus on learning first, then think about investment. I recommend Eurotrader education resources which help me a lot to learn in my trading journey.
  14. A trader should focus on trading during the most liquid time of the market. Focus on one pair first-it's better to repeat a single currency until you get the hang of it, it's better until you get it. Otherwise, you may not be able to keep up with market movements. Eurotrader offers the best educational resources for all kinds of traders. I also learn from it.
  15. Forex is one of the most popular investment markets in the world. However, the world is currently panicking due to pandemic, but if you can stay one step ahead with as much planning as possible, I think you can succeed in such an era. Try to learn about this market to seize the opportunity to make the money. I am currently taking advanced trading courses from Eurotrader.
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