Trading Discussion What are the importance of analysis to a forex trader

[Phabbyfundz]

In forex trading they are strategic methods applied for the effective prediction of a trading activity, it entails so methods which are called analysis in forex trading, so what are the importance of analysis in forex trading.
In comparison see analysis as taking a daily breakdown of activities affecting or enhancing your business and bringing strategic procedures to improve the growth of your business, analysis in forex is quite related to this.
Furthermore, we have to take in consideration the types of method available in taking good analysis, we Have fundamental analysis and technically analysis. Taking this analysis will help in you next trading activity and help.you have a good and profitable prediction of the rise and fall of currencies or trading pairs .

 

[btaliat]

I wish you can explain the two types of analyzes that you mentioned. But all the way, we nerd to analyze the market very well before we go into forex of trading for that day. That's why we need brokers or expert to analyze the market for us for effective trading.

 

[Setho]

Your analysis of the market which can either the technical analysis or fundamental analysis or both is what gives you the signal to order buy or sell a commodity. Without analysis you will only be guessing in the forex market and that is not good because you will lose a lot of money.

 

[Wisdom01]

Analysis is very important , it actually provide guidance to you to make the right trade at the right point in time ,most trades have lose a lot of money trading forex , because of lack of proper guidance which is a very important thing when trading forex on the market I think

 

[Asahi]

Use narrow trading lot and spread to avoid trading risk. While looking for a broker, try to select such a broker that provide you such facilities that naturally minimize your trading risk. Eurotrader offers narrow trading spread and high leverage to traders.