The price has to trend in the direction of your trade for you to profit. Even if it is by a few pips.
However, I have found that FX markets trend maybe 20-30% of the time and they range 70-80% of the time.
I prefer trading ranges. In larger term ranges, you will find shorter term trends.
Thank you, ProfitPotential.
You are right. But I have tried to trade on the opposite strategy and the result is the same. Because there are still spreads even if you do in that way. So I think the speed to get the quote is quote important. And Ontario’s opinion is correct.
Yes, if you trade on the lower time frames, aiming for a small number of pips, then the spread will be a bigger percentage of your profit.
Up the time frame.
Trading on the 1m chart is not a good idea in my opinion. You expose yourself to too many things that could potentially go wrong.
Well yes, Tickmill, Hotforex, Exness. They was offshore at the start but then received FCA license and I guess became more trusted.
Thank you ProfitPotential.
Yes, exactly, you are right.
Thank you Ontario.
But I’m confused, why didn’t they refuse withdrawal of the clients under FCA? why did they choose offshore shop as their base to do this kind of thing?
I would like to learn more about this please, any tips would be appreciated.
Yes, me too.
Hi Ontario, why not teach us more?
This seems like wise advice, thank you.
Well, to mention some of them it is Hotforex, Tickmill, Exness. They all got FCA license, although initially they were all offshore brokers.
Hello, Feel sad to know that you lost 10 pips daily. Which time frame you follow for take your trade?
Hi Hun2616, thank you .
Hi Ontario, just curious, why don’t they use FCA do business overseas, and why do they use offshore shop(with lower license) and regulation overseas?
Hi Karp, thank you for asking. I’m using M1 time frame.
Hi, to backtrack may I ask why did you choose this strategy? I just backtested it and it does not seem profitable.
Simple strategies can be great, you don’t need to look for ways to complicate things unnecessarily.
I think that it would be advisable for you first to test your strategy on demo account. If it is producing lose deals, means that something needs to be changed or adjusted. Try to create winning strategy on demo and then move to real account
Hi Katerinche, Apologies for the late reply.
Yes, you are right. It’s not profitable strategy. Because it’s too short between the signals.
Simple strategy is great, but the pips are too big for short period, so we need to find more precise signal to enter.
Hi Cariar,
Apologies for the late reply. Yes, you are absolutely right. Actually we are using demo to try before using real account.
Good advice thank you