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Profitability is also affected by the ability to control your emotions, without being subject to greed, fear, haste and excitement. Such emotions are especially strong during unprofitable transactions, when the trader tries to quickly compensate them in any way, even by increasing the risks in...

It is also important to be able to choose a reliable broker for trading, which would provide you with comfortable and profitable trading conditions, fast withdrawal of profits and have regulation (for example, my broker has an FCA license). Otherwise, with constant slippage, unstable operation...

The right skills allow you to make informed and balanced actions based on facts, not guesswork or emotions. Therefore, it is important to acquire such knowledge and skills so that trading can bring income.

Beginner traders are often not ready to admit their failures and try to compensate for losses by opening new unprofitable trades. Therefore, it is important to be able to stop in time and analyze your unsuccessful trades and find their causes in order to be able to make adjustments to your...

I have more winning trades than losing trades, so I make money on forex. This is primarily due to a proven trading strategy, risk and emotion control, discipline and favorable trading conditions of my broker, which provides tight spreads and instant execution of orders.

Never try to quickly win back your losses. This often leads to impulsive and gambling decisions and increased risks, which leads to even greater losses.

You can use the Pivot Points indicator. This is a popular indicator that is used to calculate support and resistance levels based on previous price data (close, highs, and lows).

There is no single indicator that fits all cases. It is best to use a combination of several indicators and apply them according to your trading strategy and market type.

Risk control is a key component of successful forex trading, as the market is very volatile and you can easily lose capital if you do not manage your risks correctly. Therefore, it is important to be able to correctly calculate the size of your positions according to the rules of money...

Yes, every trader will have their own favorite pair to trade. For example, for beginners, such a pair may be EURUSD due to its low volatility. And for more experienced and professional traders, the best pairs may be highly volatile pairs, on which such professionals can earn a lot and quickly.

Have you tried trading with it yourself? And do you have trading statistics?

I trade the main currency pairs. But most often I use EURUSD, for which my broker has minimal spreads (0.1-0.2), which makes it possible to earn even on its small movements during intraday trading, there is low volatility and smooth movement, so for me this pair is more controllable and more...

Also, in real trading, spread widening and slippage may occur, which also greatly affects trading results.

Yes, it is true that some forex brokers can make money on their clients' losses, but this does not apply to all brokers. Therefore, you need to take the choice of a company for trading seriously. To avoid trading with a fraudulent broker, I chose a company regulated by recognized financial...

Price reversals do not always occur at the start of the New York session. Often there is a very small pullback and the price then goes in the direction of the formed trend.

First of all, you need to choose what is more comfortable for you in trading: constant market analysis and frequent intraday trades or more measured and leisurely trading, which requires less time for analysis, fewer transactions, but the ability to keep transactions open for a long time...

You also need to be able to control your emotions. Learn to wait for the right trading opportunities. Don't try to trade in every situation, especially if the market does not provide clear signals. Accepting losses as part of the trading process and refraining from taking too many risks after...

I mainly trade EURUSD. This is the most liquid pair. The minimum spread (for example, my broker has a spread of only 0.1-0.2) and not very high volatility make it possible to trade more safely and profitably.

Technical analysis figures and candlestick patterns also work well in trading.

Trading support and resistance levels is an effective and time-tested strategy in forex. However, it is important to correctly identify key levels, consider the market context and use additional tools to confirm your decisions. It is also necessary to always be aware of the risks and manage them...