Trading on Foreign currency exchange is a very lucrative business. The value of a a currency pair like for example EUR/USD, GPB/EUR always fluctuates. Biggest problem that arrise (even at banks themselves) is how to control the income, or put in different words; how to become profitable.
Nobody can forsee the future. And even if you could, it affects the Forex market. It’s a very volatile market. That said, over certain amounts of time you can recognize trends. Are you going to follow the trend or your emotion? Let me tell you what will happen when using your emotion. You might get some successful trades, but because it’s not a technique your results will most certainly go bad after a while, and thus it becomes gambling. And with gambling nobody gets rich, unless you are the casino. Now the MyPrivateTrade organisation does not represend the casino in this case. It’s an organisation (or a broker as it’s officially called), that makes it possible for you to trade on the Forex market at a very low entry level of €300, although €1000 is recommended (based on best practises experience). Anyway this post was supposed to about Trading techniques :).
Analyzing graphs seems hard, but isn’t. Seems time consuming, but isn’t. Or as I wrote an earlier blogpost: “It might look difficult, but even I understand it. It’s like driving a car really. Do you need to know how the engine works, to be able to drive the car? Nope. ” That said .. what trading techniques does MPT currently recommend?
- Momentum trading
- Intensive trading
- Support & Resistance
- Forex killer
For all trading techniques the unprinted rule applies: first follow the webinar (see the MPT event calendar), and then test all techniques in a demo account account (with practise money) to first to develop a certain feel with the market, the technique, but most importantly to feel confident about yourself. Everything stands and falls with your confidence, to get the results you want in a live account. Haven’t opened a demo account yet? Follow this link and practise trading with €2000 for free!
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