Janice__'s Posts | Myfxbook

How to Use Forex Trading Indicators to Boost Your Strategy? in General Jul 01 at 13:15

I’ve learned that combining a few reliable indicators gives a much clearer picture than just using one. Personally, I like to start with moving averages. I use the 50 EMA and 200 EMA to understand the overall trend. If the 50 EMA is above the 200 EMA, that’s usually a sign the market is in an uptrend, and vice versa.Once I know the trend, I bring in RSI (Relative Strength Index) or MACD to help with timing my entries. If the RSI shows the market is overbought or oversold, or if the MACD gives a crossover signal in the direction of the trend, that’s a solid confirmation for me...

Is Gold Still a Safe Haven Asset in 2025? in General Jun 30 at 11:19

I still see gold as a safe haven, especially with the Iran-Israel conflict causing uncertainty. When tensions rose recently, gold jumped about 7%, from around $2,080 to $2,230. Even though the US dollar is strong and interest rates are high (around 5.25%), gold holds its value well during risky times. So, gold remains a good place to turn when markets get shaky.

Candlestick i can't understand in New Traders Jun 26 at 12:46

It might seem like the new candle should open where the last one closed, but in real markets, that doesn’t always happen. Prices can gap up or down, especially after major news or over the weekend. So it’s normal if the open and close don’t line up exactly. You’ll see this a lot and often the reasons come from economic events or news releases, so keeping an eye on those helps make sense of it.

What is your expectation about monthly return at forex trading? in General Jun 25 at 12:08

I aim for a monthly return in the range of 2% to 5%, depending on market conditions and the level of risk exposure.

What Platform Are You Using in 2025 — MetaTrader, WebTrader, or Something Else in General Jun 24 at 13:03

There’s been a noticeable shift toward Webtraders lately, mostly for the convenience factor. But when it comes to running EAs or handling more complex setups, MT5 still feels like the stronger choice. Fxview’s MT5 setup has been pretty smooth, quick execution,even during major news events. Also, the platform feels stable during high-volume hours, which helps when managing multiple positions.

The Hidden Power of Smart Recovery Systems! in General Jun 23 at 12:43

I agree. It’s not about always being right, but how you bounce back when you’re wrong. Blind recovery methods like martingale just feel too risky.Adapting to the market instead of forcing trades sounds way smarter. Recovery is definitely part of the edge if done right, not a trap.

Last Month was good in General Jun 20 at 13:07

Risking only 0.4%, using max 1 lot, and taking just 2 trades a day that kind of discipline really helped turn things around after the early losses. The second half shows steady results. A great example of how patience and proper risk control can make a big difference.

About the Ultimate Truth in New Traders Jun 18 at 12:57

Totally agree. Patience, risk control, and discipline matter more than constant action. Staying in the game is often the biggest win.

Is technical analysis effective for trading gold? in General Jun 16 at 12:43

Technical analysis is quite effective when trading gold. Gold tends to respect key levels such as support, resistance, and trendlines, making chart patterns and price action useful tools. However, given gold's sensitivity to macroeconomic events and news, especially interest rates, inflation data, and geopolitical developments, it is important to combine technical analysis with a solid understanding of fundamentals.

Multi-Timeframe Strategy for EUR/USD & GBP/USD in General Jun 10 at 12:45

Your strategy is really impressive! It's clear you've put in serious effort to refine your approach, especially after those early learning experiences - something many traders can relate to.It's smart how you focus on multi-timeframe confluence, using the daily chart for trend and support/resistance and the 4-hour chart for entries with EMAs, Fibonacci, and RSI. This disciplined approach is clearly paying off, as shown by your excellent 62% win rate and 1:2.3 risk/reward ratio. These figures highlight the power of risk management and patience in trading. Keep it up man!

GBP/USD 1H Chart – June 9, 2025 in General Jun 09 at 12:43

Price continues to trade within a clear range between 1.3500 support and 1.3600 resistance. After bouncing from the lower end, it's now pushing toward the top of the range.As long as 1.3500 holds, the bias remains slightly bullish. A clean breakout above 1.3600 could open further upside. However, until that happens, this remains a range-bound market.

Where Are You in Your Forex Journey? in General Jun 06 at 13:11

I started trading forex last year, excited but quickly overwhelmed by all the different strategies and information out there. Demo trading helped me get comfortable and figure out the basics.Early on, I made plenty of mistakes - trading on emotions, overtrading, and not managing risk well. Those lessons came the hard way through losses.Things really changed when I focused on just a few strategies and started keeping a trade journal. Seeing my own mistakes on paper helped me improve bit by bit.The biggest lessons I’ve learned? Be patient, keep it simple, manage risk wisely, and most impor...

Alternative for stoploss always getting hit. in New Traders May 29 at 13:40

That’s an interesting approach using triple pairs for hedging sounds like a smart way to manage risk while staying diversified. Do you usually pick correlated pairs for that setup, or do you mix them across different categories (like one commodity, one major pair, and one exotic)? Also, when you say you'd diversify the losses after a hedge gets triggered; do you mean reallocating to other assets in real-time, or is it more of a planned rotation?

Stop Loss and Take Profit in New Traders May 28 at 12:48

The club’s idea to lose 1% but only make 0.1% means you have to win almost every trade to make money - that’s really hard. I set stop loss where the market shows it makes sense like just below a support level or a bit beyond recent price move. I try to make profit at 1.5 to 2 times what I risk. So if I risk 1%, I aim to make 1.5% or 2%.

Alternative for stoploss always getting hit. in New Traders May 27 at 13:24

I’ve faced that situation many times- —where the stop-loss gets hit, only for the price to reverse and hit the original target. What assets do you consider for hedging against Gold?

Understanding Drawdown in New Traders May 22 at 12:49

I totally agree that understanding drawdown is crucial for risk management. For me, tracking maximal drawdown closely helps keep emotions in check during rough patches. I usually set my max drawdown threshold around 2-3%, which feels like a good balance between staying in the game and protecting my capital.When I hit a drawdown beyond that, I typically pause trading and avoid chasing losses. Also, using proper stop losses and position sizing upfront has been key in controlling drawdowns. It’s not just about profits but surviving the tough times without blowing the account.

5 Reasons You’ll Never Succeed Using HFT as a Retail Trader in General May 21 at 12:20

I looked into HFT once, but it’s just not worth it for retail traders. Big firms have faster systems, better data, and way more resources - we can’t keep up.Plus, HFT is super risky. One small error or delay and you can lose money fast. There’s no time to react or fix things.

The Truth About Trading in New Traders May 20 at 12:42

I’ve learned that chasing a high win rate is a trap. The real edge comes from solid risk management. Maintaining discipline and controlling emotions when trades don’t go your way is crucial. It’s the careful management of position sizing and drawdown that ultimately keeps your trading account intact. My focus is on consistency e rather than trying to predict every market move perfectly.

What is the Most difficult challenge you went through as a trader? in New Traders May 19 at 13:01

One of the toughest challenges for me was managing my mindset during losing a trade. I started doubting everything; my setups, my plan, even whether trading was right for me. Over time, I learned to step back, see the bigger picture, and not let losses shake my confidence.

What’s Your Go-To Strategy When Major News Hits the Market? in New Traders May 16 at 13:48

When big news comes out, I usually either stay out of the market or trade very small positions. The price can move fast and the market can get unpredictable, so I use tight stops to protect myself. It’s better to be safe and patient than to rush and lose money.

EURUSD	1.17678	GBPUSD	1.36619	AUDUSD	0.65744
USDJPY	144.616	USDCAD	1.35722	USDCHF	0.79423

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Posts by Janice__