When you choose a certain currency pair,there are a few factors that you have to look at.
I do this in question form so that I can see if the pair I chose is a pair with good opportunities that allow you to understand it’s price behaviour by ticking all the boxes.If most boxes/questions are not filled then it’s not a good pair for me.
[ ] What type of currency pair do you want to trade?
[ ] What relationship does it have with the interest rates chart(the 10-year treasury note)?
Choose a second pair or commodity,etc
[ ] What relationship does it have with another indice,currency pair,etc and the Interest rates Charts.
[ ] What are the Macro’s of the Economy using that currency?
The aim here is to understand price behaviour technically and fundamentally because this will then place you at a level where you can know get to figure out why the price will supposedly drop in the next Quarter or come to other conclusions that can also help you with aligning your probabilities after doing your technical analysis.
More fundamental and technical info to be updated.
I just wanted to keep this as short and simple for you to do ur research of the terms and factors mentioned above.
Always study your macros to know reasons behind price movements/behaviours in the market in technical and fundamental terms.
My recommendations:
To open a forex brokerage account; I recommend RCG Markets for various trading instruments to choose from: Currency pairs, Shares, Metals, Energy Carriers, Indices.
This broker also has flexible leverage depending on your trading trajectory.
To open an account: https://portal.rcgmarkets.com/register?ibid=852167
Before concluding; I’d like to also tell you some great news. There is a challenge happening at AUDACITY CAPITAL for forex traders worldwide. AUDACITY CAPITAL is funding forex traders who show potential in forex trading through their programme called the Ability Challenge.
Click the link below to register for the challenge and please; do come back and comment in this blog on your experience of the challenge.
https://ability.capital?ref=motlotlgimoerane
You already know what to do; please show me some love. Like and comment in the comment section.
This is from me to you and everyone else
Peace.
EverythingTrading 