A good trading strategy can be a game changer. You must be prepared for everything before trading in forex since it is unpredictable. If you have a good trading strategy and if you stick to it till the end, your chances of making profits increases.
A good trading strategy can make you rich in this market. Forex is a profitable business. But for that, you need a proper plan to move n this risky market. If you can choose the best strategy for you, you can make huge money from the market.
In forex you do not just come up wit a trading strategy, you come up with a good trading strategy or a perfect trading strategy depending on what you have going on. The better the trading strategy the more results you will yield. And always remember that you should come up with your own strategy because people are different.
If you want to make it a success in forex the you need to come up with a trading strategy that works. Coming up with one is easy but coming up with none that actually yields results is the difficult part. You need a lot of knowledge to come up with the best strategy. Do not just copy.
Due to small balance I always have to depend on scalping that brings profit in a short time. But it causes a great loss sometimes, because within short it’s really difficult to predict the market with certainly. So I think long term trading is too much safe and sounds.
Roberto21 posted: Due to small balance I always have to depend on scalping that brings profit in a short time. But it causes a great loss sometimes, because within short it’s really difficult to predict the market with certainly. So I think long term trading is too much safe and sounds.
I think if you have a small balance you can use the micro accounts until you dont perfect scalping. There are many scalpers which are using their own scalping strategies using automated trading scripts per day to rapidly trade the securities.
Pin bar is really popular but not for beginners, it is especially for the senior traders who are able to predict the real faction of this market with certainly by means of candlestick. According to me , who are able to make profit consistency by using this pin bar trading strategy , only they are professional in Forex.
There are many methods through which you can trade smaller timeframes.It’s good that you’re using smaller capital size. This will reduce the risk automatically. Scalping itself means that you are doing very small trades to earn a big profit in the sum total of the trades. So I would suggest go as low as possible to reduce the risk; after gaining experience you may increase the investment amount on your own capacity.
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.
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Past performance is not indicative of future results.