Do you remember the first time that you came across the financial markets, or more specifically, forex trading? Unless you had a keen interest in economics, it's highly likely that you were almost immediately drawn to technical analysis (T.A). Those attractively colourful indicators, pin-point accurate support/resistance lines and rumours of other technical traders trading for a living, is usually enough to lure the majority of newcomers into this category. There is, however, another technique used to analyse the markets: fundamental analysis (F.A).
In this day and age, becoming an independent financial trader is easy. You just need some capital and a brokerage account, and voilà, you're a trader! The only problem is, trading the markets is not quite so straightforward!
An optimal mindset is key to achieving efficient and enjoyable trades. With a volatile forex market, traders need a reliable mindset to manage all trading activities. By obtaining a strong and optimistic mental attitude, you can properly accomplish trades and vital tasks for success. Applying the right mindset allows a focused way of thinking that can minimize anxiety and reduce the chances of emotional trading. To have a healthy outlook towards the forex market, practice the best mindsets for optimal forex trading.
From a psychological standpoint, taking trades on a demo account compared with trading in the live market are two completely different animals. Think tame house cat and wild lion! Regardless of how long one has successfully been trading on a demo account, pulling the trigger when hard-earned money is on the line is emotional for just about any trader.
Technical indicators are often used by traders for a number of reasons, but primarily to detect the changes in the markets. Technical indicators are relied upon for signs of any change in direction, or the momentum in the price of the underlying security as well as volatility in the markets.
If you want to start scalping on Forex, you need to rethink your whole infrastructure.
Step 1. Pick a Broker
Scalping is different from casual day...
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