The first thing to do is to plan a sound strategy, and stick to it while trading. This is why the adage 'if you fail to plan, you plan to fail' is so common, and especially important in currency trading. So it is important that traders first understand the traits and characteristics of each of the currency pairs. This is because some of the currency pairs are rather volatile and tend to fluctuate every day. There are also some currency pairs that are rather steady, and move slowly over long time periods.
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