Recent content by 5ebastian

Being consistently successful simply implies that your returns are greater than break-even (you are not losing money from your trade) and that you use a consistent and repeatable strategy.

I agree with most of the comments that the MT4 is a suitable choice when compared to the MT5, because even though the MT5 is much more advanced than the MT4, it is still more complicated to understand.

It is difficult to trade forex without sharing profits and losses. A registered broker provides traders with several trading benefits, thereby increasing their returns. There are various brokers on the market, so choose one with extreme caution.

When trading stocks with a small account, trade with a limited position size and utilize a stop-loss order to minimize losses. This ensures that your losses in the deal are restricted to the amount you intended to risk.

Fundamental analysis aids in anticipating future foreign currency prices. Price forecasting is based on a variety of fundamental economic elements and indicators that influence a country's economic performance.

MetaTrader 5 is a great trading platform that outperforms MetaTrader 4 in areas like as back testing and DOM (depth of market). When given the option, most Forex traders still prefer MetaTrader 4 over MetaTrader 5.

MT5 is quicker and more efficient than MT4, but it does not replace the prior platform because it is unique and provides more than MT4. MT5 allows you to trade more instruments in nearly all financial markets, including forex, equities, indices, commodities, and even cryptocurrencies.

Different currency pairs might have different levels of volatility. For instance, because they trade with a lot of liquidity, currency pairs like EUR/USD, GBP/USD, and USD/JPY are sometimes regarded as some of the least volatile pairs.

MT5 is faster and more efficient than MT4, but it does not replace the previous platform because it is unique and provides more than MT4. MT5 allows you to trade more instruments in nearly all financial markets, including forex, stocks, indices, commodities, and even cryptocurrencies.

For me as a scalper, MT4 is the best platform because it offers basic tools and trading conditions that are adequate, and most currency traders favour it over other platforms.

I'd choose EUR/USD. In my opinion, this pair is more profitable because of its tight spreads and liquidity. The ideal pair to trade, however, will vary depending on the objectives, risk appetite, and trading approach of each trader.

I suggest a new trader trade manually to understand the live market because trading with EA's can lead to financial losses if you do not understand the strategies on which they are based. It is very risky and can lead to great losses.

I trade based on the currency pair because each pair has its own timing of when the market is high or low in volatility, since I trade with EURUSD i pefer the London and New York time with a 15-minute time frame.

Trade in a demo account before going live to familiarise with the brokers' platforms and trade with regulated brokers even if they do not offer any bonuses because most bonus-offering brokers are scammers.

In my opinion, the most suitable pair for beginners is the EURUSD, it is also used by many forex traders. The spreads on EURUSD are mostly tighter with lower volatility.