Reader Comments


by Clara robert (2019-02-01)

Each currency pair is presented by BinBotPro Review one currency against the other, so for example you have the GBP/USD, this is the currency pair of the British pound against the US dollar. The exchange rate between two currencies may be expressed like GBP/USD is 1.5600 and that means to buy one British pound you will need 1.5600 US dollars.As a Forex trader you must have knowledge of the markets on which you can base your trading decisions. Also you must have some kind of feeling for the markets and the right mindset, it requires analytic skills and a winning attitude because losing is part of the business. For the new people it may sound negative to lose, but the fact is that if you have proper money management, you'll win in the end. The trick is to think like a casino. You don't have to know if you're trade is going to be a winner or a loser, as strange as that may sound. As long as you trade your edge where there is a high probability of winning (this comes with a good trading strategy) and set a minimum risk-reward-ratio (for example 1: 2, stop loss of 50 pips and take profit of 100 pips)* if this risk-reward-ratio is smaller (difference between take profit and stop loss) than you don't trade. You see, this way even if you are right only half of the time, you still eventually end up winning.