Hi I’m new here hope I’m welcome
Hey guys I’m new here and I really want learn how to trade and take it as far as I can. It’s something I’ve always been interested in but I never had the opportunity to .
Trading FX is as simple as placing an order with a broker, hopefully on the winning side, which is like climbing Everest with a backpack on your shoulders in a snowstorm… As is statistically known over the latest 150 years in the USA, the losers outnumber the winners by 85% to 15%.
It’s your learning quest to identify the probability that your trade order would be on the right side. That could mean in an upward trend most - but not all - bulls are staying in their positions until they reach a zone of consolidation where both bulls and bears are agreeing the price. And neither wlll close their positions until they have to.
What is the probability of it continuing or retracing? Until one side or the other close their trades en masse, nothing much will happen in the consolidation within the zone. It will be your job to pin-point that move - either upwards or downwards.
I hope that helps you understand FX trading is not plain sailing - or climbing.