March 19, 2023
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Trading in the zone…S/R Watch out for daily impact news… NFP news forex… FX Trading

  • Date: 16TH March 2023
  • Time: 20:35 GMT +1


Stop LossTake Profit 1Take Profit 2Take Profit 3Take Profit 4


Stop LossTake Profit 1Take Profit 2Take Profit 3Take Profit 4

How Should I Manage My Daily Forex Signal Trading Risks?

Privacy Policy Although it’s quite easy to use Tradeguide’s daily forex signals, there are several trading basics that must be followed in order to get the most out of them, such as prudent risk management.
Below are the steps to take:

  1. Position sizing: Using the appropriate position sizing is a crucial step you must take when using Tradeguide’s daily forex trading signals. Even if you use our effective trading recommendations, the odds may work against you if you risk too much of your trading account (for example, using more than 5%) on a single trade. On the other hand, you can increase your account while also protecting it by only risking a small percentage of it (less than 1 percent) on each trade signal.
  2. Exposure: Here, we’re referring to the degree of risk associated with keeping your trading capital in a specific currency. Depending on which way the particular currency swings, any changes in the value of the currency you own or the exposure you have could lead to gains or losses on your capital. A key component of risk management is regularly assessing your exposure to the various currencies you have in your portfolio. Without regular evaluations, you might not be able to control risk on your trades effectively and risk losing a lot of money.
  3. Use of lot size: A lot is the smallest trade size that can be used for transactions on the currency market in the realm of forex trading. To better limit your risk and prevent suffering a significant loss on a single trade, we advise starting off with smaller lot sizes. Once you are self-assured and can get past the anxiety of losing a trade, you can gradually increase the lot size of your trades to boost your chances of making more money.
  4. Limit your leverage usage: Each broker has a unique opportunity to increase leverage. But we advise the use of lower leverage. Leverage could increase losses as it will also increase profit.
  5. Diversity: This basically implies, that you must not place all your eggs in a single basket! By diversifying your portfolio and attempting to trade numerous currency pairs, you can better control your risk as a forex trader as opposed to spending all of your capital to conduct trades on only one or a small number of currency pairings. By hedging your bets across several different currency pairings, you can reduce your losses in the event that some deals don’t work out. Even if some of your transactions don’t work out, there’s a good chance that some of them will still turn a profit, reimburse you for some of your losses, and keep your overall losses in check.
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Questions on Daily Forex Signals Trading

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How are Daily Forex Trading Signals Ended?

Free live daily forex alerts from TradeGuide are canceled in three different ways:

  1. when the take profit order is reached.
  2. when the stop loss order is reached.
  3. Manual termination if the trade is not proceeding normally.

NFP News Forex

NFP news forex is a term used to describe the release of the U.S. Non-Farm Payrolls report, which is released by the U.S. Department of Labor on the 1st Friday of each month. The report provides an overview of the number of jobs added or lost in the U.S. economy during the previous month.

To trade NFP news forex, you will need to have an understanding of the economic fundamentals that drive the U.S. economy and the U.S. dollar. You will also need to be aware of the timing of the NFP report and the potential market reaction to the report. Once you have a good understanding of the fundamentals and the timing of the report, you can then use technical analysis to identify potential trading opportunities.

This NFP news forex report is closely watched by forex traders, as it can have a significant impact on the value of the U.S. dollar.