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Why do different forex traders have different chart perspectives?




The same forex trading chart may appear different for different traders. Some might find a buying trend; Some might sense that a sales trend is approaching on the other side. Market perceptions vary and this is what makes Forex a dynamic trading domain. Forex charts contain a lot of information and not every trader takes the same data. While it is not always possible to say that only one perspective is really right, sometimes there is only one way to benefit from a company. And the dealer who corrects the vision wins while the dealer with the other view loses. 

Here are 4 reasons why different traders see the same chart differently:


1) High Risk Perspectives: When a trader risks a big trade, they ignore the red flags. The outlook is likely to be very different between Trader A, who risked $ 10,000 on a volatile trend, and Trader B, who risked negligible risk. Trader A will want to avoid negative opinions as the trade has been made and changing mind will only prove more harmful! So when big risks are on the line, traders have different ideas even though the forex trading charts are the same on both sides. 


2) In and Out Perspective: A more obvious thing is that a trader who trades has a different opinion on it than a trader who just sees. When you are part of an exchange the prospects are more hopeful and you look for lucrative opportunities. While from the outside it is more realistic and rational; bad tendencies will appear bad and profitable will appear good. A trader who is not in trading will think about how the risks end and whether they are worth it. So bad positions will be a stop sign and only profitable business will be worth its time!

3) Business Experience Bias: The experience a trader has by trading serves as a reminder. Let's say trader A trades EUR/USD after a certain time frame using a certain forex trading strategy and loses the exchange. The experience gained is therefore negative. So next time a similar trend occurs, its outlook will be negative! But a trader who has not yet seen any losses or gains according to a particular trend will be affected unscathed. 


4) Employee indicator selection: indicators are used to identify trades and make the most of any opportunity that presents itself. Depending on the indicators used, the perspective born may also differ. Some traders don't use indicators at all, they trade with clean charts and navigate according to the trends. Such forex players will definitely have a different idea. 


To get started, use a forex demo account and learn how to study charts. Once you master this, forex trading becomes a breeze! Analysis is at the core of foreign currencies, and studying charts is an indispensable skill. 

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