Recent content by Ry@n

What is your go-to currency pair? What are you favourites and at the same time what has worked best for you?

Watch videos on YouTube or read articles online to learn the basics, and then try trading on a demo account without using real money.

It depends on your trading knowledge and interests. Some beginner traders take over 3 months to make consistent profits, and some take even more time.

The MT4 is the best, in my view, because it is simple to use and not as complicated as the MT5 since it is an advanced version.

Keep track of all of your transactions, including the entry and exit locations, stop-loss and take-profit orders, and the rationale for the trade. Examine your performance on a regular basis and learn from your blunders.

I recommend using oscillators or momentum indicators, which are used to indicate where the price of a forex pair is and are frequently used to identify overbought and oversold levels. It also includes the Relative Strength Index (RSI) and the Stochastic Oscillator.

If you learn from them, EAs can be very useful. When you use them, try to understand how they work so you can create your own strategies in the future. But I've never completely relied on EAs. So, as time passes, it is beneficial to learn manual trading because it is more effective.

I choose the MT5 as it helps each currencies and commodities, while the MT4 handiest helps foreign money trading.

From 4 hours to 30 minutes, 15 minutes is the best time for me to read.

Any major currency pair is good to trade because of their volatility, and EURUSD is the most popular used by both beginners and experienced traders.

Due to the war still raging on between Russia and Ukraine, gold prices declined, falling back to their lowest finish in more than two years, as investors waited for the Fed to raise interest rates and deliver updated economic projections on Wednesday.

Since I'm a scalper, I trade with a strategy called Bali, used mostly by scalpers, or the Profit Parabolic trading strategy, which is mostly based on moving averages, which includes the MT4 indicator.

In the forex market, currency pairs are major, cross, and exotic pairs. Among them, exotic pairs are the most volatile. While major pairs are highly liquid, trading in currency pairs that are associated with the USD is profitable to trade, like EURUSD, JPYUSD, and GBPUSD.

It is a good idea to test your brokers' spreads and trading conditions with their demo account before using the real account to avoid unnecessary losses.

If you are a beginner, it is better to stick with one trade at a time to gain enough experience and consistent profits, but most traders have multiple trades open to keep track.