Recent content by Ashley Smith

Struggling to understand the pace of the market so that I can build my strategy as per that! So, not very profitable as of yet!

I find USD/JPY quite profitable. I guess it’s all a matter of which pair you understand the most. You can trade any of them and become profitable.

Unfortunately, most of the forex signals providers are scams sitting behind the screen that lure traders with fake promises and make them lose by sending false signals. You need to be thoughtful about risking your money so that you don’t do something that you shouldn’t.

I think the best currency pair to trade is always the one that you understand more than others. You can start with studying major currency pairs.

I like the scalping strategy because it gets more profits than other strategies. Moreover, it suits my restless personality perfectly.

Forex being a risky business, requires traders to be extra careful about the trading decisions they make. From determining which trade to enter at what time to deciding how much to risk per trade, come under their risk management strategy. It’s like finding a way so that your losses don’t affect...

Udemy courses are good ones but they come with a big price tag if you can afford them. Otherwise, babypips, investopedia, and YouTube offer great forex trading information for free that you would ever need. You can also buy a book like Trading in the Zone if you like reading.

Of course, it is. It helps you minimize losses so that you can easily manage them. When you lose one trade, you will have enough money to open positions in new trades.

Price action works better than most indicators as I get to find entry and exit points quite easily. It’s less confusing.

Both technical analysis and fundamental analysis have their own advantages. A trader shouldn’t ignore either.

Demo trading is the first step of trading. A trader must never risk their money in the live market before any prior demo trading experience, because this can lead to losing money that you can save by trading on a demo account.

These are great points for a beginner. Along with all these points, a newbie must also learn to control their excitement and greed of trading forex. It’s better to focus on understanding the market as a beginner, and then on making money.

Not bad if you know what you are doing and applying proper risk management strategies. But if it’s just for fun, you better don’t take any kind of unnecessary risks, especially when there are equal chances of making profits and losses.

I don’t think that it is worth finding a mentor to get help with your trading. Most of them will teach what you will easily find on the internet for free. Instead of wasting your money on a mentor, open a micro account where you will gain experience in trading the real market.

Start with the forex basics. You won’t be able to do anything if you have no idea about what is happening. Once through the basic forex education, open a demo account where you can practice until you gain practical knowledge of using a trading platform. When you think that you are ready to go...