Today we will talk about perfectionism in trading, quite a common phenomenon on Forex. Can it ruin your daily trading? How to deal with it?
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Please don't take the headline literally. There is a whole lot more tips that experienced traders can give you. But today's 3 things are the last in our beginner series. Without further ado, here are the last three tips.
Everything is interconnected in the currency market. Changes in major indicators for one currency affect several trading instruments at once. Moreover, price fluctuations in one currency pair can influence another instrument. These connections are called correlation.
Experienced traders know currency forecasts may benefit them because the correct signal gives them a significant advantage in the market. However, not all exchange rate forecasts are accurate, and sometimes even top traders can be wrong. So let's clarify if they are reliable, what are the main types of forecasts, and where you can find them.
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