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I'm sharing with you the top risk management strategies that has worked well for me. 1. Always using stop-loss orders 2. Determining your risk tolerance 3. Setting your risk-reward ratio to 1:2 4. Understanding leverage 5. Staying up-to-date about news events. Last but not least, keeping your...

Short-term equity investments are viewed as riskier than long-term ones, which are thought to be far more lucrative and reliable in terms of returns.

The trading platform should be chosen based on trading methods and years of experience in forex trading. Because the MT4 is much simpler to use when compared to the MT5, even though it is an advanced version. I still use the MT4 with my broker, FP Markets, because it is suitable for scalping...

Though the better choice seems to be MT4, I would suggest the MT5 because it is an advanced version, and using the MT5 also helps in developing knowledge because it provides more tools.

I prefer the MT4 since it is suitable for currency trading, and compared to the MT5, the MT4 platform is simple to understand.

MT5 is the best suitable platform in my opinion to trade using Gold because of its advanced version, and using a broker such as FP Markets is an advantage because the commission costs are lower at $3 per lot.

I agree that demoing is the best way to practise and build new strategies. It is also the best platform to try and make consistent profits without taking real risks. Making consistent profits is not easy, and if you are a beginner, it would probably take over three to four months to make...

Though MT4 has a lot of indicators, I still prefer MT5 over MT4 because of its advanced version and because MT5 has more instruments in most financial markets.

To trade this pair, you can use a copy trade or an EA. Even I find Vix75 appears to be capable of using the grid or controlled martingale methods, and in my experience, we have profited with this combination.

When trading with a tiny trading account, search for A+ trade setups that have the potential to create a long-term trend. This entails identifying a trend reversal and finding the ideal entry point with a manageable risk-per-trade and an appealing reward-to-risk ratio.

For the following reasons, the Euro/US dollar pair is recognised as the most lucrative currency pair in forex: High Liquidity: The US has the largest economy in the world, with Europe coming in second.

Some brokers' customer service is so bad that you get frustrated and move on to another just because of their lousy customer service. I had to do that, and now I use FP Markets. Customer support is quick to respond, and the live chat option is also great.

Following the trend is probably the simplest trading strategy for a beginner, as the trend is your friend. Going against the market herd is referred to as "contrarian investing." When the market is rising, you short a stock, and when the market is falling, you buy it.

To avoid higher losses when trading live with currency pairs, beginners should use a lower leverage, such as 30:1, or even lower if possible.

From my experience with EA, I can say that they provide better profits for beginners, which is a benefit. The disadvantage of using an EA is that it is more expensive.

Trend trading is one of the most reliable and simple forex trading strategies. As the name suggests, this type of strategy involves trading in the direction of the current price trend. In order to do so effectively, traders must first identify the overarching trend's direction, duration, and...

What is the best strategy and software that most traders use, and what are the benefits involved in it?

Every trader would suggest the EURUSD because it is the best choice not only for beginners but also for professional traders since it is the most stable currency pair to trade with tight spreads and liquidity.

As per my experience, I find EURUSD a safer currency pair to trade since it is more stable and the spreads are tighter when compared to other currency pairs.

I used to analyse price activity as a newbie and look for double tops or bottoms on the hourly time frame. and achieved some modest success doing so.