Recent content by onomatopoeia

There’s no harm for a newbie to use EA, but it should be done with the utmost mental control. EAs can be very lucrative to use for a newbie. EAs go by a fixed setting, and we know the market direction can form a new trend anytime. EAs may not give desirable profits or may not give the right...

Swing highs and sing lows is one of the most effective and simple strategies to exist. If the trader has knowledge on how to identify the both, it is highly beneficial as swing highs and swing lows can alert the trader about support and resistance levels. This, the trader can use wisely for...

Try coinexx if you are interested in crypto funding methods. The minimum deposit is 0.001btc and the spreads are also low, average is 0.2 pips.

It is so because trends help you trade accordingly. If you follow the trends, it will be easier for you to analyze the market.

If you've never traded forex before, but aim to get started with forex trading, then the best forex pairs you can try trading are EUR/USD, GBP/USD and USD/JPY. These pairs have the lowest spread and high liquidity.

Yes, it is true that you can make money in forex trading. However, it is important to remember that forex trading is a high risk activity and you can lose all your money. Therefore, it is important to only invest money that you can afford to lose.

When it comes to Forex trading, there are a lot of different strategies that you can use in order to make a profit. However, it is important to remember that not all strategies are going to work all the time. This is why it is important to constantly backtest your strategy and be flexible to...

Being a manual trader gives you more experience and you will grow more as a trader. Automated trading can be useful to eliminate emotions while trading. Using an EA does not guarantee profits in forex. So, one should be learning manual trading first and develop their skills by being in the market.

Leverage would be beneficial for you when you are skilled enough to choose profitable trades and have a good winning streak. I won’t suggest a novice trader to trade with leverage as they might end up losing more in the process. Leverage also adds up to the risk and we must be careful while...

Imo, social media advice also has an impact on new traders in being impatient and starting to trade before they have a specific trading plan in place. The lifestyle portrayed on the social media platforms makes the traders think trading to be a quick money making scheme. Having a good amount of...

Coinexx and Lmfx are good if you are looking for lower spreads. I’ve been using both and am quite happy with the conditions. You can give them a try too. Would be better to test with small capital as both of them have low deposit requirements.

@Zygosis For the development of trading skills new traders must be willing to invest the necessary time and efforts in understanding the basics about the market. This may take a few months to a few years. The profits in the market depend on the experience and fine skills to trade it.

Well, personally I have only read one book about forex trading - Trading in The Zone, written by Mark Doughlas, in the year 2000. It contains all information about price actions, candlesticks, strategies, time zones, everything you need. This book is a real gem, I’ll recommend this to all!

In my opinion, they are - 1. Making a general trading strategy and not formulating specific trading plans for each day or each trade 2. Thinking leverage is easy to be used if stop loss is applied 3. Not sticking to your trade plan and being constantly restless throughout a trade

Yes I do and this is why I trade with all my dedication. I know forex trading is not easy for beginners like me but it is highly rewarding and can make my financial goals come true.