I would recommend not looking at classic support and resistance. Look at indicators like the ATS indicator and form strong bias based on what the data tells you. Then get in when the price pulls away from your bias direction.
Large news events can drain your account if you're not careful. You could go from a full account to an empty one in less than 5 minutes with no Stop Loss.
Trading currencies has been a massive change for me. I started 9 months ago and have just started to make money from it. I'm currently making 10% of my account per month. Doesn't sound like much but it adds up after a while.
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