Nice example with great description , thanks for the post.
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Thank you very much for reply! Are you a Forex trainer?
Even in high voltage news session, like FOMC, NFP?? Really?
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Knowledge and experience are the secrets of a good forex trading. These things will helps you to learn about the forex market and also make you able to do some right trade and become a successful trader. You must have some knowledge and experience before entering to that market.
@NaguibSawirisâŚYesâŚyou can practice this on a demo account.You will know the direction of the market on the 15-min timeframe prior 15min before news release. Orders and maximum TF can be set.
Well, can you please tell me the names of your favorite pattern? If you donât mind actually!
I donât have favorite patterns. The main goal of forex trading is to make income. Any strategy or pattern that will earn you income is best. Read the thread carefully and it will serve you as a guide.
I pretty much agree. 95% of new traders think trading means daytrading and trading reversals is the only way to be profitable.
The thing is, 95% of new traders never become âoldâ traders, they get wiped out within Year 1 and never come back. It would be crazy to do just what they do and expect a different result.
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There is no rule in Forex trading which can brings you success for every trade you work. But Your experience and knowledge can guide you for the profit.
Yes, I read! And, thatâs the main goal. For making consistent profit traders should have good trading skill on technical & fundamental.
Yes no one can tell you any fix rule of success. Main thing is trader has to find its own rules for trading that suit him. He has to improve knowledge , trading and try different things to get success if he is not making targeted income. once you are able to make money from market you will certainly find best ways with your experience.
The Forex market can be a formidable opponent. The daily transaction volume is approximately $5 trillion, and the Forex market is regarded as the most liquid market in the world. In most respects, undercapitalized retail traders appear to be outmatched as they take on global central banks, investment banks, hedge funds, market makers and everyone in between.
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I can totally agree that there is no secret about Forex trading , for keeping survive in here with making profit we need good knowledge and long term experience including a reliable support from a credible trading platform!
I agree with you
This is why there is saying â trend is your friend. As a solo trader with very small capital, there is no way that you can compete with large investment banks and hedge funds. So, only thing that you can do is follow the trend and get some of the overall profits for yourself
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Too many new traders who are told they need to find ways to beat the market take this too literally. Beat the market simply means beat the ROI that a long-term investment in the markets would get you. But too many people think it means do the opposite of what the market is doing - sell because the market has gone up, sell because it has gone down. This leads to losses, frustration and very often the corollary which is conspiracy theory - if you think youâve got to beat the market but you fail, its because the people in the market are trying to beat you. This leads to what we used to call madness.