Hello,
Can you please
1. recommend some resources to learn forex trading
2. Mention what all aspects need to be covered when learning forex trading.
3. Mention all aspects to be considered while placing the trade.
4. mention Which are most widely used indicators and what are its values.
Thanks & Regards,
-Rahul
Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, the market is just too random and unless risk is controlled over time your account will slowly get wiped out, regardless how good a “trader” you think you are.
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1. See links below
2. Need to know fundamentals that can affect currency price. Like what news is coming out – data and stats that are being released and when as some can move markets quickly.
3. You need to know your exit plan when you first place your trade. Know when your break even point is and at what price you are comfortable to take a loss and to take a profit.
4. Most widely used indicators are the most basic ones – KISS! keep it simple stupid! Moving averages, MACD, Bollinger, Candlesticks are what most traders use.