I am new to Forex trading and please I want a simple EUR/USD strategy to follow, I want to earn at least 15 dollars a day by depositing 100 dollars with a good broker.
Best Regards,
Every newbie testing waters in trading starts off from support&resistance levels and trendlines (channels). Find suitable timeframe (1H preferable) and pick only small lot size, I would suggest no more than 0.01 lot. Broker choice is of significant importance as you transaction costs solely depends on how they handle your orders. I prefer STP execution (as it tends to have more connection with real market;)) that’s why opted for Hotforex, as the wisest choice from the ample mass of brokers.
And the main advice is get enough confidence on demo account before throwing yourself in real market. It doesn’t tolerate any mistakes…
Well, if you are going to trade as per rule of thumb, 0.01 lots on $100 account you would need 150+ pips daily to net $15. You want double account in 6 days. You need to start thinking realistically or you will blow your account in no time guaranteed.
Many Thanks!!! I found your reply very useful and started learning support and resistance strategy, regarding the broker I have chosen instaforex.