May be here i am asking some silly questions but please if possible answer my questions.
After loosing almost 1k i realized that I have to learn lot of thing. I need suggestion and few question answer.
First, introduce myself that, i am a web developer and working as a freelancer from last 3-4 years.
I was first addicted forex almost 2 years ago. That time i loose 200$ dollar and stop trading but learn few thing.
Second time i addicted almost 1 year ago. That time i lost 350$ and stop trading again but learn few thing again.
Two month ago, i addicted again and this time i have lost more than $500.
I know little about everything but i loose money like newbie.
i know how to forex work, how indicator work and little bit other thing but don’t know deep.
Actually, i learn lot of thing just don’t know how to apply it or how to predict what’s going on next on market.
This time i realize that news trading is the king of all trading(I may wrong).
Even, i see lot of people here predicting that market must go (eur/usd) 1400+, some expert told market going to 1450+ or some other told market going to touch almost 1500.
I don’t believe much that because i was selling mode and loosing lot of money. I thought market cannot go more than 1400 and my balance can survive that.
But it has gone long away and make my balance zero.
Yes, I loose lot of money(as a developing country people yes $1000 is a lot of money).
But, i want to win. It may take time but i want to win this battle.
- Thus, I need clear direction what should to do?
- What kind of strategy should follow?
- How can i get usa, euro zone news before publishing it or how can i predict what news going to positive or negative. Because i have seen lot of movement when news release.
- How can you predict 7 days ago that market will touch 1500+?
- Sometimes, i have seen market move 50-60 pips upward then then again move it downward 70-80 pips. So, do i need to try to both trade win? If so then how can i predict market move 50 pips and then it move downward again?
- How to think about money management?
- When i need to set stop loss or when i set to take profit. Because i don’t know what’s happen. Most of the time i have seen market go above or downward then try to come same position where he had.
- I am interested to long term trade like per day or 3 days even 7 days. So, what kind of strategy should follow.
I am going to start with a CENT account with 1dollar balance. Until this 1 dollar become 50$, I don’t want to invest mo