My name is Garyn but people call me Jaae it’s my preference. I’m eager to learn how to start trading and I’m hoping someone can teach me genuinely. I don’t want to pay someone and gave me an halfassed lesson I want what I’m willing to pay!!!
Pls help me, you have me thanking you a billion.
Forex is a risky business in which you have to maintain risk to survive the business. If you can’t maintain the risk, you can’t make a profit consistently. I always maintain a 1: 3 risk-reward. That risk-reward helps me move forward in trading.
Most profitable sweet spot, Jennifer is 1:1.5, tested over 300 times by tradingrush. 1:3 is a no no mainly because your win rate decreases exponentially more than in comparison with 1:1 and 1:1.5 and 1.2.
But, up to you.
Trading psychology and good analysis is an essential part of every trader. If a trader cannot control his emotions, he will never succeed. You have to maintain risk in every trade. No more than a 2% risk can be taken for trade. If all these things are maintained properly, the rate of loss will be reduced a lot.
Demo trading is important. Without demo account it’s difficult to test your strategy. You can not test your strategy with real money. It will not give you the good results.