Trading on round figures on Forex requires strong nerves and knowledge of some of the foundations of psychology, since such a trading strategy is quite risky. In general, trading on round figures may lead to a rollback. The closer a trader comes to round figures, the more there is the opportunity to roll back …
If you still chose such a trading strategy, then you will have to monitor the situation constantly.
The fact is that trading on Forex goes twenty-four hours a day. The constant turnover of money on Forex is one and six trillion dollars. Constantly, traders conduct trades, constantly currency wander from one source to another. So, it can be said, the round-the-clock life of Forex has both its pluses and its disadvantages. In general, you need to be able to trade on Forex.
Some people themselves are developing trading strategies, someone is using existing ones. There are a lot of strategies on Forex, and each time something new is being invented. Of course, specially thought out traders use old knowledge, and create a novelty on an already proven basis.
Trading around round figures is no exception. Generally, a trader is inclined to keep relative orders all the time. They expect that the trade in such currencies, to which several more zeros can be attributed, is circular.
Of course, this move is very convenient, and on the one hand, it is profitable. However, not every trader can correctly trade around round figures.
If you decide to try yourself in such a complex strategy, then carefully study the entire Forex system. In general, there is a special atmosphere here, and the work on Forex is filled with constant definitions and charting.
Such a strategy requires constant monitoring, as, as mentioned above, trade is conducted around the clock. Of course, not everyone will decide on such a risky position for trade, however, if it works, then there is simply a success. Such a strategy can enrich a trader at one time, but it is also capable of burning all the incomes of one or another trader.
In general, I would like to sum up. Of course, Forex is a very good system so that you can earn money. Many people are already constantly working on Forex. It should also be noted immediately that the work goes side by side with constant risks, so you need to expect failures.
Without losses, it is impossible to play here, so any strategy can lead to failure and success. I wish you successful trading …