Technical analysis is the best thing one can do for forex trading. Because for fundamental analysis you need to understand the economy very well. Whether it is day trading or scalping or swing trading, technical analysis is the key to decide the entry and exit point. But for overall success emotions management is very important. I trade with XeroMarkets broker. I am here in this broker since it is a regulated broker and has tight spreads. I likewise can withdraw my cash quickly.
Technical analysis can be a supplement tool for fundamental analysis but can't totally substitute it. Short-term moves are unpredictable by technical analysis, while it doesn't always work for medium-term moves, only for key levels.
Forex trading is actually a simple job. But a trader need to know some basic things about forex before trading in the market. to make the trading easy a trader should choose a financial advisor which can be his shadow in his trading life. I choose AtoZ Markets as my financial advisor. I choose them because of their many forex related news and analysis. They always help me to minimize my risk and maximize the profit. Because of them forex trading become simple for me.
Stop loss and take profit both are very essential tool of forex market. Stop loss helps to prevent big loss and take profit ensures the sure amount of profit. These two things help a trader to do their trade tension free. Trading in forex market is always risky. Besides, a trader can not stay online for the whole day and night. These two elements can help the trader to fix his loss and profit. I am currently trading with TP Global FX. I can easily set my loss ratio and profit amount by the use of stop loss and take profit bar. It keeps me tension free and i don't need to sit all day long for making profit or not to make loss.
There are two vital techniques for trading. Those are technical analysis and fundamental analysis. A lot of traders use technical analysis as their trading instrument, and some are using fundamental analysis for their trading. Additionally, there are traders who combine both technical analysis and fundamental analysis for their trading. Sentimental analysis is also very important though most of the traders ignore this. I personally use technical analysis along with sentimental analysis. For my trading I utilize Eurotrader broker since I like their useful resources like eBook and video instructional activities. They have Technical Analysis Tools with 50 indicators and charting tools
