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I have seen many new traders looking for short-term gains, but it should be the other way around. If you want to see profit, you must be in for the long haul.

How does the 5-3-1 strategy works in forex trading?

I trade with fp markets and i think they're are the best ones out there

The most suitable scalping for me is the RSI strategy, because for a scalper like me, it is an advantage to use this strategy to find the entry points that go with the prevailing trend.

For beginners, it is better to trade with EURUSD in live trading because the volatility is lower and liquidity is higher.

You can trade with brokers like CMC Markets, Global Prime, or FP Markets. They provide good trading conditions, and if you are looking for lower commission costs, FP markets cost $6 per round per lot.

I will not recommend a newbie to use EA. It is better to start off with manual trading to get an understanding of the forex market and its functions. EA can be used during the later stages after gaining enough knowledge and experience in forex trading.

It mostly depends on the currency pair you trade. For example, I trade with EURUSD and trade mostly during the London and NewYork times.

I prefer the MT4 platform over MT5. It is user friendly and suitable for forex trading.

Why is it important to some traders to use VPS, and is it advantageous while scalping or day trading?

My current broker is FP Markets. I trade with it because of its reliable trading conditions and lower slippage compared to other ecn brokers.

Yes, it is possible to make consistent profit in forex, but to make such profits every day, a trader must have a reliable strategy and on one's trading system.

The gold futures price fell by US$11.10 or 0.6% to US$1,782.00 an ounce. Spot gold was trading near US$1,783 an ounce at the US close. Iron ore shed US$2.15 or 1.2% to US$183.60 a tonne.

I suggest trading with FP Markets, an ECN pricing broker that has some of the lowest spreads and commission costs compared to other Ecn brokers.

Demo trading helps in understanding how the actual trade works and about profits and loss. Whereas the real account has risks and money involved, which can affect traders emotions.

From my trading experience, I find FP Markets a suitable broker for scalping because of its lower spreads in major currencies and faster execution speed when compared to its competitors.

Most traders and beginners mostly trade using Manual because of lower balance, but EA is better than manual trading and profit earned in EA is higher than manual trading.

You have to make your own opportunities in forex , by choosing a broker that is suitable for your trading style.

That is totally on you, it depends on which broker you use and how good you are at trading. It your losses are more then stop trading and prepare yourself for better trading later on.

If your looking for a broker with 1:500 FP Market are a better choice, because their commission is low and Spreads are low as well suitable for Scalping. FP Markets are an ASIC regulated ECN broker and its been active for 15 years, been trading with them for a year no major issues to complain