Hey guys, I’m new to this. Teach me something. Trying to make another stream of income.
Best lesson to learn is that Forex trading is not, and never will be, an income stream. At best, speculative gains and losses. Just don’t lose your capital, otherwise you cannot trade.
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Welcome to the BabyPips community, @LouieG. Start with the education section here. Good luck.
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Thank you for your perspective. The more I’m learning I hope to eliminate risk. Plan on dripping in a little as I learn.
Thank you. I’m taking my time and trying to graduate. DO they offer any audio lessons as well?
IMO, this is typical of this pair. Retractments are common and it’s why I don’t trade it. As for this event, the MACD is showing a trend weakness because the bars are getting smaller, and the next PSAR ball underneath the candle indicates an upward change in movement. Also the actual candle at breakout has a very long downward wick which indicates that price movement is bullish.
But I sympathise, as I’ve suffered more losses on this pair than any other.
Don’t fall for deals that seem to be too good to be true. This is the biggest tip that I can give to a forex trader who is just beginning his trading career. Make decisions on the basis of your knowledge.