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The forex market can be overwhelming for a novice trader. Some people think you have to be glued to the computer screen constantly watching prices, always ready to react if prices move in the direction you want.
But what about those who can't sit in front of a screen for that long? What about those people who work or need to organize their kids/ dogs/ parents etc. Not many people can sit still for hours looking at prices or charts without losing concentration. But looking at prices is only one aspect of forex trading.
Others think you need to be aware of every piece of news, economic data and central bank speech. Yet in reality no one can be on top of everything all the time. While it is definitely important to have some knowledge about economic data releases and major political events that could move markets, each trader needs to choose their own key metrics that work for them.
But what about those who can't sit in front of a screen for that long? What about those people who work or need to organize their kids/ dogs/ parents etc. Not many people can sit still for hours looking at prices or charts without losing concentration. But looking at prices is only one aspect of forex trading.
Others think you need to be aware of every piece of news, economic data and central bank speech. Yet in reality no one can be on top of everything all the time. While it is definitely important to have some knowledge about economic data releases and major political events that could move markets, each trader needs to choose their own key metrics that work for them.