Thursday, September 11, 2014
To trade Foreign exchange you need to have a strategy to take advantage of the speedy changes & market conditions. There is no short way to create a strategy as it is necessary to check it in different situations. This means that every trader must invest considerable time analyzing charts, news reading and staying updated economic announcements.
Like any profession, it is important to be aware of the prices of the money pairs that you are interested in running & do some research on the subject. Before you start trading in any particular pair, it is important that a questionnaire is made with some questions & find the answers. Some questions might include this questionnaire are:
How strong is the economy of country A relative to country B at the moment? This query can be answered by taking a look at the current Gross Domestic Product, unemployment and indicators of production, among others.