Experienced or beginner, there is no way to escape the overwhelming nature of the markets. Any asset you choose to invest in can surprise you with the sudden rise and fall and rise again and each day there is a new set of rules we are trying to encrypt, encode and profit from.
With all that emotional roller-coaster in mind, I would like to go over 6 things every trader should remember when the market goes bananas.
Scaling in is one of the most highly debated strategies in the forex market. This is because it has a lot to do with risk management. Since this is one of the few factors in forex trading that is fully in the control of the trader, an effective risk management strategy can make sure that your losses are cut short and your profits are maximized.
The first time every beginner in forex trading asks is whether it is possible to make a living trading the currency market. The general answer is yes you can. The detailed answer, however, includes a number of requirements, which are discussed below.
Currency trading business is not for light hearted and is certainly not for everybody. Before you jump into this business you should understand the associated risks as well as make careful choices. Even if you are well-versed with the market, the situation might turn against you.