There are 3 little Rules
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Tuesday, February 24, 2009
Rules for forex traders
Rules for forex traders
Understand the basics of technical analysis. You don’t need to be a quant-geek to be successful, but understanding the first ten chapters or so of the classic Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy would be a great start. When the fundamental and technical outlooks for a currency differ, always side with the techs. When the fundamental and technical outlooks for a currency converge, go for it! Take a more aggressive position than normal.
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