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There is no one "best" trading strategy as different strategies may be more or less effective depending on the specific market conditions and the individual trader's goals and risk tolerance. It's generally recommended to do your own research and backtesting, and to continuously monitor and...
it's not advisable for new traders to use EAs, as they may not fully understand the underlying logic or assumptions that the EA is based on, which can lead to poor trading decisions and significant losses. New traders should focus on developing their own trading strategies, knowledge of the...
There are several qualities that can make a trader successful in the financial markets:
Discipline: A good trader must have the discipline to stick to a trading plan and avoid impulsive decisions.
Patience: A good trader must be patient and wait for the right opportunities to present...
Setting stop-loss orders: A stop-loss order is an order placed with a broker to automatically close a trade when the market moves against the trader by a certain amount. This helps to limit potential losses and protect the trader's account.
Using a suitable leverage level: Leverage allows...
For beginners, it's generally recommended to start with the major currency pairs, as they tend to be the most liquid and have the tightest spreads. The most popular major currency pairs are:
EUR/USD (Euro/US Dollar)
USD/JPY (US Dollar/Japanese Yen)
GBP/USD (British Pound/US Dollar)
USD/CHF (US...
It is difficult to determine which currency pairs are more profitable with minimal risk as the foreign exchange market is highly volatile and subject to a variety of factors such as economic conditions, political events, and interest rates. However, generally speaking, major currency pairs such...