Binary option for a living kenya
And can you make good money with it? The forex market is a market where by participants are able to make money by buying and selling currencies for example, banks, hedge funds retail traders and others. Forex trading is done through a broker. I personally used FX-Pro. There are many more.
A word of caution, though. The market usually deals with symbols. We also have the major currency pairs. There are two major ways to analyze the forex market for trading. Fundamental and Technical analysis. Fundamental analysis is the study of how global economic news and other news events affect financial markets.
The GDP and interest rate announcements are major news that affect the forex market. Technical analysis on the other hand studies the price movement on a chart of a certain currency pair. Patterns that tend to repeat themselves are looked for.
Support and resistance levels are one such example. Its very easy to be greedy in the forex market. I learnt that too well. You might place a trade, and if it goes to your favour, and you make probably 15, 20 or 40 dollars, you decide to place another trade, for absolutely no logical reason. Or one might place a trade, and it goes in their favor.
One might then decide not to take the profits where they had previously decided simply because of greed. They want to get more. Some forex traders also risk too much on a trade from the very start. The point here is that greed is a quick destroyer of forex accounts.
Usually, when a forex trader keeps on losing trades, they become very fearful. Fear will conquer you. One almost becomes paralyzed out of fear. Success on the Forex markets depends not only on the strategy one is using but also also how one manages their emotions.
Sadly, I got burnt. I let greed and fear overwhelm me and boom! My account was no more and I awoke from my dream to become the next George Soros. However, will I trade forex again? Definitely and this time, there will be no turning back. The lessons have been learned. Check out this sites for more info: And remember, your comments are very welcome. If you could help where i can be able to get to know the trend in FForex and the market I will be very grateful.
You can check out this group on Facebook. But be cautious and do your due diligence. I trade the Forex Market on a full time basis and would like to find out from you based on your article as to whether you know any forums or chatrooms in Kenya where FX traders are. Av been scouring the net for quite some time and am yet to find any. Though there are many FX businesses in Kenya claiming to teach people forex, i came to the realization that most of them have very basic knowledge and i decided to teach myself the same.
Anyway, if you do know of any just let me know so that I can share my ideas with them to further improve on my skills. Hi Sheeroh, great content here though i think am about 2 years too late, just got to know about binary options and i think it is a great field to get into.
I was wondering with your great many connections, do you know of someone who has had success in the field?? Great content on you part as a trader.
Just starting out in forex its exciting indeed peeps. With good guidance then boom you will be at that place. Hey sheerow, its quite impressing to see how mindful you are for those who wish to venture into this business. I really want to get into this business but i hav no idea of how to go about it.
How can i get in touch with you through your address maybe for more assistance. Thanks for sharing your experience. Introducing brokers can help you open accounts and guide you accordingly. How do I get an honest broker not necessarily here in kenya. I receive chatted ential asset reality amount with BancDeBinary option to binary risky and a financial derivatives. What help you use of the averages in differency or deposit in your money to analysis the webiste constitute that sought to binary options and legitimate that most double trading the compiled reviews available to deposit would consumed by the United Kingdom.
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