Forex Trading Scams That You Should Avoid While Choosing Trading Strategies

1
My Forex Trading World

• Financial Freedom

http//www.myforextradingworld.com
Forex Trading, Trading Strategies, Forex Trading
Basics
2
24-Hour Market, Pros Cons

• As Im writing this post, it is 11am in the US
  and midnight in Japan. Regular office hours in
  these countries never overlap. This means a
  person who trades USD/JPY should be prepared for
  a double shift every day. If you add NZD, CNY,
  EUR, etc. to the equation, you end up with a
  worldwide 24-hour market. It sounds scary
  traders cant stay awake 24 hour per day.

Forex Trading, Trading Strategies, Forex Trading
Basics
3
24-Hour Market, Pros Cons

• Two major financial hubs of the Forex market are
  London and New York.
• As a result, Forex market activity peaks when the
  working hours in these two cities overlap.
• The lowest volatility occurs between the close of
  the NY session and the opening of Asian markets.

Forex Trading, Trading Strategies, Forex Trading
Basics
4
24-Hour Market, Pros Cons

• On the web you can easily find numerous articles
  with striking graphical explanation of the
  trading zones and hours. But let me focus on the
  real mystery of trading hours. How does 24-hour
  trading affect the life of a Forex trader
• A 24-hour active market offers flexibility. You
  can make trading your full-time job or part-time
  job. You can trade whenever you want and create
  your own trading schedule.

Forex Trading, Trading Strategies, Forex Trading
Basics
5
24-Hour Market, Pros Cons

• These traders, who can make money by working a
  few hours a day, have an extensive background in
  finance, and they spent years building their
  strategies. Usually theyre managing huge funds,
  which makes it unnecessary for them to check
  anything other than daily charts and PL reports.
   From the viewpoint of a retail trader, the first
  obstacle is to understand the characteristics of
  the instruments you trade. You should know the
  high volatility/low volatility hours.

Forex Trading, Trading Strategies, Forex Trading
Basics
6
24-Hour Market, Pros Cons

• If you ask my personal opinion, I believe that
  flexibility is power. But its not beneficial if
  you dont know how to take advantage of it. In
  order to be able to control that power, you
  should first know yourself and your trading
  style. Then you should understand the markets and
  instruments you trade. After defining these, its
  not difficult to match them and come up with the
  optimum hours for you to work.

Forex Trading, Trading Strategies, Forex Trading
Basics
7
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