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Contingency Plans

Rapid change in the Forex market must be factored into trading strategies. A market that spans the globe is also vulnerable to an increased number of unexpected events that can suddenly and decisively change the trading landscape. It could be a terrorist bomb, the death of a government official, or a surprise international merger. These events can prompt you to enter the market aggressively, hold back on a trade, or redefine your strategy (which I generally discourage, although there are times when it is appropriate). When contemplating any trade, review possible positive and negative events and the corresponding actions should they occur.


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