MONEY MANAGEMENT!!!! don't take trades unless there is a 1-4 risk to reward ratio, and don't use more than 3 % of your account on one trade, simple rules can save your account!
i think it's a great investment, im in my last year of university and i can see myself on the long term doing this, i bought my first car using forex (nothing fancy just a honda :LOL:) but still there is much potential if you're willing to put in the effor
agreed price action and basic analysis is the way to go, this time last year i had so many indicators on my charts and now i use the basics support and resistance zones, Fibonacci and some candle stick patterns and i've been much mote succesful
it's not about beating the market but learning to understand what's going on. I think creating a bias about where it"s "going to go" can be one of your mistakes, instead watch the candles and use what you learn to adapt to changes
i think everyone here covered it very well but trading takes time and effort, there are bots out there can work and make money but if you don't understand the functions and the basics of the market they won't help either
yes
yes there is, go to "FOREXFACTORY.COM" it shows all the economic news coming up, set it to a weekly update that way when you see the non farm coming you don't use the E.A