One question that I'm asked quite often is what currencies I trade, and which currencies someone who is just starting to trade forex should focus on. I think this is a great question, and one that many beginners overlook.
One of my biggest recommendations for someone who is relatively new to Credit4 forex (or even seasoned veterans for that matter) is to find one Credit3 pair to "specialize" in. By focusing on one pair, you gain a lot of knowledge about what moves that pair and the issues in the two countries.
Of course that's not to say you have to exclusively trade just that one Credit3 pair, but it should always be on your radar, so to speak.
Also, pick a heavily traded pair that has a good amount of volume. Examples would be EURUSD, GBPUSD or EURGBP. This way you are dealing in a cross that has tight spreads (the spread between what you can either buy or sell the Credit3 for) and it is less likely to be subject to large price swings simply due to a large buyer or seller entering the market.
In my opinion, this also makes Credit4 forex more fun!
When you have a focus and can feel your knowledge increasing, it's a great feeling. You will start to learn the little nuances of a particular Credit3 and it's a great feeling to come up with winning trade ideas.
And of course, you can trade other Credit3 pairs and should consider using a forex Credit4 robot or program to generate trade ideas for you in other currencies.
A forex Credit4 robot is a piece of software that is able to analyze market data and price action and will then generate buy or sell signals when there's a profitable opportunity. I am currently using two of them and am very pleased with the results. They are able to generate profits for me while I focus on other things.
These are a great tool to use along with your own Credit4 ideas, as they can produce profits for you and since you will have trades from these programs, you will be less tempted to trade on your own just for the sake of Credit4.
Making money Credit4 forex is an amazing feeling, but I see too many people get frustrated and throw away their money at the start. You need to develop discipline right from the beginning, and focusing on one Credit3 pair is a great way to help yourself develop this trait.
One question that I'm asked quite often is what currencies I trade, and which currencies someone who is just starting to trade forex should focus on. I think this is a great question, and one that many beginners overlook.
One of my biggest recommendations for someone who is relatively new to Credit4 forex (or even seasoned veterans for that matter) is to find one Credit3 pair to "specialize" in. By focusing on one pair, you gain a lot of knowledge about what moves that pair and the issues in the two countries.
Of course that's not to say you have to exclusively trade just that one Credit3 pair, but it should always be on your radar, so to speak.
Also, pick a heavily traded pair that has a good amount of volume. Examples would be EURUSD, GBPUSD or EURGBP. This way you are dealing in a cross that has tight spreads (the spread between what you can either buy or sell the Credit3 for) and it is less likely to be subject to large price swings simply due to a large buyer or seller entering the market.
In my opinion, this also makes Credit4 forex more fun!
When you have a focus and can feel your knowledge increasing, it's a great feeling. You will start to learn the little nuances of a particular Credit3 and it's a great feeling to come up with winning trade ideas.
And of course, you can trade other Credit3 pairs and should consider using a forex Credit4 robot or program to generate trade ideas for you in other currencies.
A forex Credit4 robot is a piece of software that is able to analyze market data and price action and will then generate buy or sell signals when there's a profitable opportunity. I am currently using two of them and am very pleased with the results. They are able to generate profits for me while I focus on other things.
These are a great tool to use along with your own Credit4 ideas, as they can produce profits for you and since you will have trades from these programs, you will be less tempted to trade on your own just for the sake of Credit4.
Making money Credit4 forex is an amazing feeling, but I see too many people get frustrated and throw away their money at the start. You need to develop discipline right from the beginning, and focusing on one Credit3 pair is a great way to help yourself develop this trait.
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