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To begin trading forex in the US, you need to open an account with a registered forex broker. There are many brokers to choose from. They vary based on their reputation in the market, the size of the brokerage firm, as well as the trading conditions they give you. For example, you will want to compare the margin requirements and leverage conditions that different brokers give.
Some forex brokers will give you leverage of as much as while others will only allow leverage of This is attractive since leverage can make your successful trades more profitable. You should be careful with leverage, however, because a small move against your position can wipe out your margin entirely and lose you trading capital. What you should not do is deploy a random mix of strategies, or, even worse, trade with no strategy at all.
It is important to know that different strategies will work unevenly for different traders. Largely, it comes down to choosing a strategy that you can work well with based on your personality type and trading discipline.
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