Recent content by ernestphillips

Coinexx has low spreads, starting 0.1 pips on major pairs.

Price action trading strategies have been around for a long time. In fact, many of the most popular trading books that new retail traders read today discuss price action trading strategies in-depth. Price action trading is based on the idea of historical price movements (i.e., trend, pullbacks...

Strategies for making money in forex trading vary. A strategy that works well for one trader may not work at all for another trader, so it is best to make sure you understand what you are doing before getting out there and trading.

Forex trading can be profitable, but it is very risky. I have made a lot of mistakes and lost a lot of money, but now I am more or less consistent. Having a knowledge of technical analysis is not enough. It would be best if you were an expert in emotional control and risk management.

In my opinion, one should learn about support and resistance, trendlines, and candlestick patterns before going live. I find it interesting that almost all successful traders use these tools.

You can start learning about forex on the internet. There are many free resources and courses available. You can check out Youtube for some videos or try Google search.

Being profitable in forex trading is much harder than it seems. It takes time, patience, research, and dedication. Four things are needed in order to achieve success in forex trading. Anyone can get started very quickly, but it takes experience and time to understand how the market works.

As a trader, you should always wait for the backtests result of your strategy before you start trading it. Backtesting a strategy gives you information about the performance of your strategy. The results of backtesting will give you valuable information about how profitable it can be to use that...

The best chart for day trading trend lines is the one-day chart. This is because you want to avoid any gaps in your trades. For swing trading, I would say the weekly chart would be best because it will show the bigger picture. So if you were day trading and used a weekly chart for buying and...

Above mentioned strategies are mostly used by professional traders. It would be advantageous to know these strategies.

There are many working strategies you can use to succeed in Forex trading. However, since the same strategy cannot work every single time, you must be willing to adapt and find a new strategy when the one you used is no longer working for you. You can use the moving average strategy, Fibonacci...

The best pair you can start with are the major forex pairs. Starting with the majors will have an easy entry point with good potential for making money. The major pairs are EUR/USD, GBP/USD, USD/JPY, USD/CHF, and AUD/USD.

I can only guide you. It's a decision you have to make alone. As a beginner, you should start with little money and trade on a demo account until you make enough mistakes to learn from them. Learn about charts, support and resistance levels, moving averages, candlesticks, etc. Ask yourself if...

Yes, good mentorship is one of the most important factors to have in order to become a successful trader. A mentor is someone who can guide you throughout your trading career, assist you in solving problems, and share their knowledge with you.

It depends on the style of your trading. Technical indicators are based on the fact that price patterns repeat themselves and can thus be used for both day trading and longer-term trading. RSI and Moving Average are used for trend trading and are considered as being very good.