The 3 Keys to Successful Forex Trading

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The 3 Keys to Successful Forex Trading
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3 Keys to Successful Forex Trading

• The Trading Strategy
• Trading Psychology
• Money Management

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The Trading Strategy

• Your Trading Strategy basically depends on you
  how you trade, what must happen in order for you
  to pull the trade trigger? Most of the trading
  strategies are based upon indicators such as RSI,
  Moving Average or a combination of a few
  different indicators, personally I prefer not to
  trade based upon indicators.

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Trading Psychology

• You could have the good Trading Strategy in the
  World, but if you have a weak Trading Psychology
  then it counts for nothing. Let's take a look at
  a number of the ways in which your emotions may
  affect your trading decisions.
• Emotions can hold you back from taking the trade
• Emotions that entice you to take a trade
• Emotions that cloud your judgment

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Money Management

• Risk Management or Money Management is that very
  important part of trading that determines how
  much money you may risk on a single trade. This
  amount will be determined by what your individual
  goals are and also how much money you have to
  actually invest in the market.

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