hello everyone 24 from london, was in a discord group but the education on there was very confusing and I’m now here to learn the basics, hopefully it will set me straight for my next journey in forex.
Welcome! Good luck to you. This community seems like a good place to start.
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Welcome @um97.
Unfortunately, your experience with forex education might not be unique A lot of people want to make forex education very complicated - so they can sell you stuff, or just to make them sound smart.
Forex trading can be done purely from simple charts. There are only two things you can do - follow in the direction of recent price movements, or go the opposite way. Most trend-following trades will win: the wins won’t be dramatic or quick but you can add to the position to increase your profits and the entry price isn’t critical. Most reversal trades will lose and the entry is critical, but the winners can be very quick and very dramatic.
Most new traders trade intra-day and use reversal strategies because they are afraid of being in the market. They mostly lose.
I don’t know if there’s much more to it than that.
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Welcome to the forum! I personally think this is the best learning site for beginners. Definitely makes things less confusing and therefore easier to keep learning without the frustration.
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