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Some Quick Forex Informationcms forex
Many new Forex market traders have misconceptions about the entire system. They see people making money trading with the Forex market and automatically assume they can easily do the same. What they tend to forget it that there is strategy and research done in order to make successful trades and profits from trading. If you are new to the Forex market system, don't get caught up in popular investment myths. Be sure that you know exactly what to expect and be realistic when trading.
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Presently Forex market is a global telecommunication network of banks and different financial organizations. It does not have any fixed trading place and time restrictions - the trade starts on Monday morning in New Zealand and closes on Friday evening in USA
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I always try to pyramid while position trading medium-term once I am convinced of a new medium-term trend emerging. Like in USD/JPY position trading 135-132 as an initial position, adding in 132 and 129 areas. Same for AUD/USD and EUR/USD with similar strategies. But sitting on positions and watching the counter-rallies costing truck load of money is not easy job to do and causes lots of pain all the time. Most traders even among experienced ones cannot bear that pain and give up too early. But there is no other way to make a big money and we have to bite the bullet and "sit and accumulate" as long as the medium-term trend is intact. That is why I always believe psychological aspects of trading is far more important than anything else in successful trading. A mind game like those bluffing game of poker.
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The FX FOREX spot market does not have a physical location or a central exchange this makes it's very convenient for a beginner trading forex currency. Due to the lack of a physical exchange the forex market operates on a 24 hour basis spanning from one time zone to another across the major financial centers.
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