daily using the forex trading ranges posted in the Global-View forex database. However, there are a few benefits to trading forex via CFDs or spread betting. Many aspiring traders get caught up on the results of each individual trade; however, the professional trader knows that their trading performance is measured over a long series of trades, not just one or two. The best part is that forex spread are very low because competition among forex brokers pushed them to lower the spreads to be more attractive to clients. This is important, if you arent achieving a risk reward of 1:2 or greater on your winning trades, you will see that over time its very hard to make money in the markets. Planned R:R : What was the pre-defined risk reward ratio of the trade? In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool.
A Forex Trading Journal to Track Your Performance - Today's article is going to discuss one of the most important pieces of the puzzle of professional.
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Unfortunately there are no reliable forex brokers in Kenya right now, so the only option Kenyan traders have to profit from the forex market is to use an offshore broker (a broker from a foreign country). Final thoughts Documenting your Forex trading results is a necessary component to becoming a professional Forex trader. To easily explain how forex trading works we will give you a simple example. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions. There are two main ways to get started forex trading: via an FX broker, or via derivatives like spread betting or CFD trading. Actual R:R : What did the risk reward ratio actually end up being? Forex brokers offer leverage in order to allow their clients to trade high amounts of money. Exit Price: What price did you actually exit the trade at?