When faced with a possible retracement or reversal, you have three options: If in a position you could hold onto your position. This could lead to losses if the retracement turns out to be a longer-term reversal. You could close your position and re-enter if the price starts moving with the overall trend again.
Step 1: Choose a Forex Broker. You will first want to select a forex broker suitable to your needs. Ideally, since day traders tend to be fairly active in the market, you’ll want a broker with
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