How to trade effectively in forex?

Nov 09, 2020 at 09:47
51 Replies
Member Since Oct 28, 2022   50 posts
Mar 18, 2023 at 11:36
davesper posted:
I think that the best option is to have enough qualifications. It seems to me that this is what can allow a trader to get the desired result.
In my opinion, qualifications are not that important, but skills are more important.
Member Since Mar 21, 2023   1 posts
Mar 21, 2023 at 10:23 (edited Mar 21, 2023 at 10:23)
I completely agree with you that learning and practicing are crucial to effective trading. It takes time, patience, and dedication to become a successful trader. In addition to practicing, I would also recommend reading up on different trading strategies and analyzing market trends. There are also plenty of online courses and resources available to help improve your skills.
Another thing to consider is , which can provide you with the necessary capital to trade with. This can be especially helpful if you're just starting out and don't have a lot of money to invest.
Member Since Sep 02, 2022   15 posts
Mar 21, 2023 at 12:14
The best way to trade forex effectively is to first learn everything there is to know about it. After you have a thorough understanding of how forex works, you may create a strategy and open a demo account at the same time, which will result in good learning.
Member Since Mar 02, 2023   11 posts
Mar 21, 2023 at 12:45
In order to trade effectively in forex, a good trading strategy and a good method for analysing the market are required.
Member Since Jan 23, 2023   18 posts
Mar 21, 2023 at 13:00
Erse_Smith posted:
In order to trade effectively in forex, a good trading strategy and a good method for analysing the market are required.
Thanks for the tip buddy!
Member Since Nov 05, 2021   1 posts
Mar 22, 2023 at 05:48
price action with smc can be the good option for you
I trade for the better future
Member Since Sep 19, 2021   4 posts
Mar 22, 2023 at 16:54
No there is no one strategy. That is impossible to create.

However some tools are handy :
Fib levels
20, 50, 200 ema
Some Divergence indicator (not so important)

Some rules could be :
Above 200 ema - Buys
Below 200 ema - Sells

Only trade the 1 hour mark ( usually most volatile around the last 10min and first)

Member Since Aug 19, 2022   71 posts
Mar 23, 2023 at 12:38
First of all you need to practice at least an hour for a day. Then you can read some articles about trading or YouTube videos. And of course try to find methods that suits you.
Member Since Nov 20, 2022   8 posts
Mar 24, 2023 at 01:59
KAnthony posted:
Erse_Smith posted:
In order to trade effectively in forex, a good trading strategy and a good method for analysing the market are required.
hi all. im newbie and dont know much. what is good analysing method? can you tell more?
I suggest you join our copy trading at frida, you review our performance on our profile
Consistency is key of all time
Member Since Mar 23, 2023   3 posts
Mar 28, 2023 at 19:53
There are many reasons why you will not succeed in this business, forex/Stocks trading is a very complex and difficult specialty, When you click on the buy/sell button, it does not mean that you are a trader. Just as everyone who has an accent is not an engineer.

The individual's reasons:

- Lack of sufficient knowledge of this market.
- Considering the market as two sell/buy buttons.
- Too much greed( A very small amount is also an obstacle)
- Lack of proper morale with financial markets.
- Lack of sufficient capital.
- Lack of work discipline

Environmental conditions:

- Getting lost in the empty and superficial layers.
- Too much confusion in choosing a system,
- being misled by fraudsters, Brokers, Unrelated and unprofessional people.
- The inherent complexities of financial markets.
- A lot of false information that is injected into them by individuals or companies.
- The inherent cruelty of financial markets.
Member Since Mar 28, 2023   2 posts
Mar 29, 2023 at 08:58
Patience and discipline are two important qualities. Take time to educate yourself in Forex trading (Baby Pips for example) with emphasis on financial risk management and trader psychology. Newer traders become obsessed with finding a magical indicator or strategy or robot that will make lots of money - there are none😁. You just become a target for an industry full of charlatans.
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