Tue, Feb 10 2015 04:39 GMT+4

There is no universal way to trade in the Forex market, because what works for one trader, is not suitable for another. In order, a novice trader was able to understand what trading style is suitable for him, you must first define his strengths and weaknesses. To achieve success in Forex Trading, you need to find a style that best fits for you.

In fact, there are only two types of traders: those who trade with the trend and those who trade against it.

Trend traders are usually calm, invest their time in trade and stick to certain long-term Forex Strategy. In contrast, the counter trend traders are looking for quick money. They tend to quickly close the deal.

Therefore, it is important to feel what is right for you: short or long intervals. Trends in the Forex market developing for weeks or even months. Exactly trend traders work on their analysis. Counter trend traders use in their work much more short intervals, e.g. daily or hourly charts.

Once you have decided on intervals, you must decide which analysis — Technical or Fundamental — suits you best.

In technical analysis, you should rely on statistical data of past periods, which will help determine the direction of the price movement. Fundamental analysts rely on economic news and announcements.

However, we cannot bank on just one of these types of analyzes. They are effective only if combined. Nevertheless, for long-term trading Fundamental analysis is more suitable, while Technical is for short-term trading.

Hence, we may conclude that the type of analysis depends ultimately on the selected trade interval.

Defining your own style of trading, it will become more pleasant and efficient to trade on the currency market.

We would like to kindly remind you:

Professional Forex Education with Masterforex-V is based on studies of New Technical Analysis.

The New Approach to market analysis will allow you:

- to analyze market situation within a few minutes (up to several time-frames synthesis);

- see the emergence of a new trend at the right time;

- recognize the emergence of flat even before everybody else can realise it;

- find the MF reference point, and therefore, the beginning of powerful movement of the market;

- consciously make profit, regardless of the chosen time period (scalping, daytrading, mid-term trading or long-term trading);

- And much more.

We know very well the main problems that traders face in their lives (regardless of their skills level). Years of successful training experience allows us to responsibly say: we can help you to solve these problems.

Give us a chance to help you!

Become a student of Masterforex-V Academy. If you wish to be trained and join the Masterforex-V Trading Academy please e-mail on: members (at) masterforex-v.com