The newcomers cannot avoid losses by their greediness and emotions, it’s true. But the regular traders cannot come out their losses because of having most powerful risk management and MM. they always fours on just acquiring good trading knowledge . of course we have to do it. But besides it must be focused on risk managing approach if we want to avoid losses.
In my opinion , major currencies like EUR, USD, JPY, GBP etc can be a few to keep in mind while trading for profit. Others currencies are also good but I think these pairs can be high riskier and less liquid too.
It is not possible to make a profit in trading without trading practice. Developing skills as a trader is very important. If a trader trades without learning, it is never possible for him to achieve success.
LeviSievwright5 posted: It is not possible to make a profit in trading without trading practice. Developing skills as a trader is very important. If a trader trades without learning, it is never possible for him to achieve success.
You are right. If one wants to be successful in forex trading, then learning and practice shouldn't be compromised at all.
Roberto21 posted: In my opinion , major currencies like EUR, USD, JPY, GBP etc can be a few to keep in mind while trading for profit. Others currencies are also good but I think these pairs can be high riskier and less liquid too.
You are right, majors are more liquid, they are a good choice, especially for beginners.
Knowledge is a very important aspect of trading forex. You must be well prepared for the market and should know how the trade works. This will help you form a strategy and you will succeed as a trader. Hard work and practice can really help you.
Demo account generally is more appropriate to ensure the basic fundamental market experience which is very supportive to continue a live account in a proper way , but not appropriate to make sure brokers performance but shortly you can understand how the broker works.
*Trade with retail traders: if price breaks ‘Support or Resistance’ level *Trade with the 'banks’: if price is within ‘Support and Resistance’ level Trading Hours: any open session Trading Style: scalping, daytrading, or swing Trend Finder Time Frame = mt4[D1] Lot sizes - nano[100($0.01)], micro[1K($.10\pip)], mini[10K($1\pip)], standard[100K($10\pip)] No 'buy\sell' position while in the cloud Oversold = Short(sell), Overbought = long(buy) Trends are usually noted by “higher highs” and “higher lows” in an uptrend and “lower highs” and “lower lows” in a downtrend.
The right information and knowledge are two of the most essential aspects of Forex trading. You should have a good idea about how everything works before starting with Forex trading. Your skills and strategies will benefit your trade even more.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.