I have been trading Forex since about 2010, and I have been trading successful since 2015.
Some may ask what do I mean by successful trading? It’s how I make my living, and my living is good.
There is only one shortcut to successfully trading Forex, and that is to find a Mentor that’s actually good at trading Forex. Notice that I said Shortcut because there’s a lot of great free information and training on the internet. Baby Pips is a great place to get a very good understanding of Forex.
But understand this, what you don’t pay in training, you’ll pay for in losses. As the old saying goes, “You get what you pay for”.
Think about it like this; When you were 16, you passed your written test to get your Driver’s Permit.
Now imagine, getting behind the wheel of a car all alone without an adult driver sitting beside you?
It would be a nightmare waiting to happen.
It’s the same with Trading forex, you can learn a lot from this site alone. I think it’s one of the best Forex sites on the internet. But nothing beats a good a mentor.
Let me give you some (simple) advise as a new trader; Yes, it’s true the market goes up and down and sideways and you should be able to make money by ping ponging back and forth.
But, as a new trader, if it’s a Bull market, be a Bull. When it’s a Bear market, be Bear.
Follow only the larger trend until you fully understand the market. New traders often get on the wrong side of the trade trying to catch small moves.
Stick to the larger trends, use price action, use support & Resistance, use strong/weak and trade off the larger time frames.