Just to remind you that forex markets are open 24 hours a day, five days a week. A market move is just likely to happen while you are asleep or in the shower as while you are sitting in front of your computer screen. Currency traders use market orders to catch market movements when they are not in front of their screens.
You can make big money, specifically you can make money trading currency IF you follow some simple rules. Break these rules and you are a loser with a capital L, but follow them and you don’t need a degree or rocket science to be a winner and full time 4x trader like me.
There is a debate whether forex trader should use automated forex systems or have discretion in their trading. Purely automated forex trading involves the use of back testing and rules to generate every trade they make. Discretionary forex traders on the other hand use signals as an alert and then make a decision on whether to trade or not.
Forex trading can be very exciting. Sometimes it is so exciting that I can get carried away and trade with no care in the world. The only problem with this is that when I get carried away, I tend to make losing trades. To take care of that, I have drawn up a few rules that I always follow before and after and a forex trade.
A lot has been said about trading automated forex systems. With forex charting software becoming more technologically advanced, more traders have started adopting automated forex systems either as their only trading methods or as part of their trading portfolio.