Justice1024 posted: And, of course, fear and greed.
Yes, fear and greed is what move trends. And because Forex is high leveraged fear and greed are leveraged too... Try to trade an unleveraged account. Boring and riskless. You can easily achieve 6% a year with zero risk...
Try to trade 20x leverage in just one trade. A 0.1% move (like EurUsd goes from 1.2000 to 1.2012) becomes a 2% profit! You can do that in scalping strategy, using for example, engulfing candles or inside bars breakout. I was able in a micro account to double my money in one month using this strategy, but never tried to do that with big money... because fear would mess everything..
This account is making profits of between 10% to 20% every month without a single losses. Drawdown at 1.5% max only. IS THIS TOO GOOD TO BE TRUE? Members refer others/members to earn commissions. Multi-Level system.
Usually when people lose money it’s because they lack the knowledge and experience to trade properly. Sometimes it is the result, however, of the dishonest practices of a scamming broker. What can be said when brokers lie to their clients from the start? For example, the Switzerland financial markets and service providers regulator FINMA has added two more forex brokers to its warning list of unlicensed entities: World Trade Capital and Swiss Assets FX. Both entities claim to be located in Switzerland, but neither is regulated by FINMA as it is required by law. (https://www.forexbrokerz.com/news/FINMA-warns-of-World-Trade-Capital-Swiss-Assets-FX-forex-brokers) Swiss Assets FX claims to be based in Basel and to be a “regulated investment services firm authorised in the conduct of its activities by the Swiss Securities and Exchange Commission (‘SFMSAS’) under the license no. 092/08”. That is a completely made up regulator, such an agency does not exist. They made up a regulator just to draw in gullible people to invest their money in their scam. Money which were probably then lost. One needs to be exceedingly cautious when picking a broker so they don’t end up getting scammed.
The Forex market is too much volatile and there is nobody who can predict the real faction of this market with certainly. As a result for keeping survive in a proper way we the traders have to depend on our trading strategies that we select according to our trading experience. we the traders always looking for a profitable trading strategy , practically for getting a maximal result by trading techniques we have to ensure real money managing plan.
I was looking at a signal provider last week ,they are up 7% so far this year,almost all there positions are straddle trades,doesn't inspire confidence but they're positive results, Forex is a tough business so we have to protect downside risk as much as possible,one thing I found useful was knowing the daily range of the pair.I think most new Traders have a problem with setting risk and accepting small gains which just kills an account and your confidence.