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By and large traders think only good trading knowledge can make sure successful trading life, but practically despite of having most powerful analyzing trade knowledge that’s not possible at all to lead a successful trading life without having a reliable support form a credible trading broker , because the trading broker can affects the result of our trading with certainly.   

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For your fund’s safety, there is no alternative to highly secure trading broker like Hotforex which offer segregated accounts. Insecurity is a big issue of brokers as traders are mostly victim to it. The securer a broker is, the more trustworthy it is among traders. There are several issues a trader needs to look for before choosing the right trading broker.

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  • 2 weeks later...
On 8/9/2022 at 10:03 PM, Boogle said:

Without knowledge and practice, it is almost impossible to expect to make profit in this market. You need to understand the market to make decisions and that is a skill learnt through experience.

This can never be overstated, having adequate knowledge and practice will help traders develop a good plan. A good trading plan will help you to avoid making emotional decisions in the heat of the moment.

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Traders can’t purely overlook the consequence of riskiness related to foreign currency exchange. Otherwise the whole trading journey can be similar to gambling as trading will require proper utilization of risk management tools which will facilitate him how to take supervision over trading risks in managed manner. But if a trader is unable to trade with proper preparation and does trading in haphazard manner then trading will definitely turn into gambling.

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In Fx trading , by and large traders in particularly the newcomers fall a great loss by taking high leverage due to non sense planning and zero risk management policy, nothing to do with high leverage at all. so, I think, before trading with high leverage we have to know how to manage risk.  
 

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4 hours ago, Golden Sark said:

In Fx trading , by and large traders in particularly the newcomers fall a great loss by taking high leverage due to non sense planning and zero risk management policy, nothing to do with high leverage at all. so, I think, before trading with high leverage we have to know how to manage risk.  
 

Exactly, we need to learn properly, this I have come to realize more from an article provided by my broker forexchief about a traders first step. They have useful information about trading and working on the currency exchange in their library, great stuff. In fact we need to take advantage of any education provided by our brokers, they can come in handy.

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The best broker is a broker which does not restrict any kinds of trading techniques with scalping and hedging. They until the end of time ensures best trading environment for using any kinds of trading techniques by providing comfortable trading spreads as well as minimum margin requirements.
 

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Honestly speaking, if you want to get maximal result by scalping first of all you have to make sure lowest trading spreads which is very supportive to make profit with certainly by using any kinds of trading strategies in particularly the scalping that brings profit in a short time. Actually from all trading elements spreads is mainly considered as an important financial tool which an investor should consider when choosing a broker.  
 

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On 8/23/2022 at 12:43 AM, Breed said:

This can never be overstated, having adequate knowledge and practice will help traders develop a good plan. A good trading plan will help you to avoid making emotional decisions in the heat of the moment.

Agree trading without a trading plan is a disaster, tried that many times. Even conservative martingale strategy I used with Hotforex has better survival rate compared to reckless gambling. 

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  • 1 year later...

More and more practicing will help traders develop their trading skill. Practical knowledge is more effective than theoretical knowledge. Technical analysis can be the perfect choice for you if you want to forecast the market within the shortest time. For technical analysis, using indicators is a must. FXOpulence broker offers more than 400 technical tools for technical analysis.

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