Hello, I am also a rookie in this currency market, but I have been informed and advised a lot with LVMexchange and little by little I am learning to operate and generate my strategies
Simplest strategy consists of following a trend. Apply 20EMA to D1 chart: 20EMA sloping upwards is uptrend: sloping downwards is downtrend.
Wait for pull-back and set buy order above highest price in the pull-back, with stop-loss below the lowest price in the pull-back. When the buy order is triggered, hold the position until the next pull-back and get out then. Repeat the process.
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its all about the same approach in order to my trading experience ,
because the main purpose of RM and MM is avoiding unfortunate loses and risk.
Hi Emily, Iâm currently just a beginner in the trade, i would suggest trying out some broker but before you do so check if they have a demo to practice and later join one once your confident cant guarantee that you will profit in first few attempts but its a good learning knowledge and then you will be able to profit, and find one which has a minimum balance opening with spreads that are low as possible.
If youâre looking into brokers always make sure they are properly regulated, because random offshore companies are likely scammers instead.
You donât my friend only trough hard work and the quote from John Wick excuse me for my language :
"Shear f*cking will"
honestly you can get successful fast but then there will be a faster fail. Forex is a business even Rome wasnât built in a day.
Itâs not easy for everybody here, itâs hard work, and this business has a special specificity and the risks are quite big. Itâs a fact. Well, what to do, you have to deal with it.
Before one can start trading, its better to know what trading is and what platform your going to start trading with. Know your potential and then start.
There is no way that you can trade in Forex easy, nothing comes easy stays long, Forex is based on time, patience and investment, the more time spent and invested in, is when you can actually profit from it.
It sounds like youâre looking for a get-rich-quick method which doesnât sound promising for a newbie. 
Try demo accounts first, then go live. But you should read the terms of the Broker first not to get trapped when it is time to withdraw.
Agree! For me, itâs gonna be a long journey of learning.
In time, you will be able to adapt, although crisis situations will still occur. Forex is a rather complicated system, but if you understand at least the basics and are constantly evolving, then the result will not wait.
Thank you for the thread, it is useful for me too, as a beginner,
Take a look at these last 2 trades on my Live Account as examples of the approach you should take outlined below
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Use Candlestick Patterns, Trend Lines and Consolidation Setups ONLY - Economic Analysis and Indicators complicate things
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Use the Daily and 4 Hour for Market Direction
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Entry Using the 4 Hour
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Stop Loss using 4 Hour or 1 Hour
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Avoid the Smaller Charts - too Volatile with a lot of False Signals
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Target 20 to 70 Pips overnight -offers Fast Turnover while minimizing your exposure to the market
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Aim for Major Support and Resistance.
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Use a trading platform that sends you Alerts telling you when a trade has been closed. Constantly looking at your trades causes Self-Doubt and Self-Sabotaging behaviour like closing trades too early!!
All of this should be practiced on a Demo then a Live once you have achieved a Return of at Least 50%, ideally 100% on your Demo. This will ensure you have the confidence and experience needed to handle the challenges and STRESS of trading with Real Money!
Regards
Duane
DRFXSWINGTRADING
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