Keep up to date with economic data releases, geopolitical events, and market trends that could impact currency prices. Use a reliable news source and economic calendar to stay informed. 3. Have a tra...
approach to trading, leading to better decision-making and improved performance. Overall, principal protection is a crucial aspect of successful FX trading, as it helps traders manage risk, minimize ...
loss just below a support level or just above a resistance level, traders can limit their potential losses if the market goes against them. 3. Confirming Trends: Support and resistance levels can hel...
makes higher highs) for a potential short trade. 3. Bollinger Bands Strategy: Bollinger Bands consist of a middle band (simple moving average) and two outer bands (standard deviations away from the m...
enter trades in the direction of the breakout. This strategy aims to capitalize on strong market momentum. 4. Carry Trade Strategy: Traders take advantage of interest rate differentials between two c...
2024-08-28 16:27:21