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Every trade that you will be making will be analysed much closer, as with a every wrong trade you will not only lose money, but you will also lose opportunities to open new trades that could have been winning ones. Many of us have had the same feeling when you see market prices. You want to jump straight in as you believe that something major is about to happen. Later you find yourself with an open position and you do not really know what to do with it, where to close it, or what profit to look for. This is quite often the case, especially with newbie traders. Every Forex trading plan should include a clear description of the entry signals you are planning to use in your trading strategy.
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This process is repeated until the overall balance is in the trader's favor, at which point he cashes out at a profit.
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Before we dive into the exact details of the strategy, I need to make sure that everyone has a certain understanding of Forex trading.
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foreign currency rates