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Forex Monarch

by Alisa Princy (2019-09-17)

Much like a chess player above, the Forex Monarch Review trader needs to anticipate what may happen during each phase of the trade. This is where a strategy is particularly important, because it has measures in place that are activated based upon how the market moves. For instance, if a trader buys the EURUSD they already know ahead of time that the price will go in their direction, go in the opposite direction, or basically stay the same. As the foreign exchange markets are known for moving it is unlikely that the price will stay the same for very long. This means that in basically every trade the market will move either with you or against you. In our EURUSD example above the prepared trader already knows what to do because of their trading strategy. If the market moves against them they have risk control measures in place to prevent any catastrophic loss which may jeopardize the equity in the account. If the market moves with them then they have profit taking measures in place to either take profit and a predetermined price point, protect their profits with a trailing stop, or let the momentum of the market determine their exit point. As you can see you absolutely, positively must have a trading strategy to be successful in the Forex market. The last thing you want is to have to guess and hope once you are in a trade. Strategies help you keep focused, confident, and ultimately disciplined enough to be a consistently profitable Forex trader. People nowadays fail to realize that making money in the forex market is not as easy as it seems; the reason is because they overlook the enormous quantity of people failing and look at the few successes as proof that the method works, I'm not saying that foreign exchange does not make you any money because then I would be lying; as a matter of fact, many people are making thousands of dollars monthly just by trading currencies. However, they managed to do it after proper research and experimentation. Entering the forex market can make you a lot of money if you play your cards right, you should be able to determine when you should buy or sell the currency you have. This is done through studying the current economy and predicting what is going to happen next.