I could use some guidance

Beginner Questions
1

So I’m new to forex, but I’m really interested in learning about how it works… Anyway I was trying to find some strategies online and I stumbled upon a video where the guy was talking about “looking for hammers, inverted hammers, and shooting stars on a Candle Graph.” Apparently these “signs” can alert you to when the graph would change direction in its trend… Well after I watched the video a few times and thought that I had understood what this guy was talking about, I decided to apply this way of thinking to my Practice account. So I bought in GBP/USD at .6958 thinking that the price would raise… Currently I’m down 108 Pips. So either that way of investing is bogus… Or there’s something I’m missing.

So my question is, could someone explain if that strategy actually works? And maybe I just did it incorrectly. Or should I try something else?

2

Have you been through babypips school ? I think you should learn about candles and multiple candle patterns. Candle patterns do work. But absolutely nothing in forex is 100% accurate. A perfect candle pattern that tells you the price will go up can and will go the other way. The market will do what it wants when it wants. All we want is our winners to be bigger then our losers.

Find a strategy and stick to it. Give it time and good money management will pay off.

Patients

3

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