The third thing to note before taking a forex trade

[amakaokafor]

The third thing to analyze before taking a trade is your entry,just because the market is in an uptrend and Is at former resistance does not mean you should just place a bit trade,you can take a trade a buy trade when there is candle formation going upward or you use indicator ,u can use rsi ,when the rsi has gone below the 30 line and now give the 30 line ,it could mean you should buy,you can also add divergence to me doubly sure

 

[Sotherefore]

Forex trading generally has a lot of wider areas that it will be very difficult for people to be able to understand with a simple explanation, most of these things will need a life video of how to do it for us to really understand better ,that is why people should not just think of learning forex trading improperly by reading content ,they should just seek the help of an expert and from there they can engage in life practical for you to really understand what you are mentor is saying. Theory and practical give you the best and wider understanding.

 

[Victorial]

I like the fact that you do not base your strategy on the support and resistance levels alone. Using the relative strength index (rsi) is a good addition with the signal either buy or sell. I have been itching to learn the double divergence Relative strength index but I do not fully understand the pattern. I keep using the overbought and The oversold region and they are not reliable to some degree. But I do not want to learn other indicators.

 

[Setho]

There are really so many things that you will have to consider before trying to open a position if you are a forex trader and that should be strictly dependent on you. For example the first thing that I usually check is the volume and whenever there is low trading volume in the market it is already an indication that the market might be volatile and as such I tried to forget. I will then consult my technical indicators so that I can able to predict where the market will go and then consult some fundamentals was so before opening a position.