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It's RRR actually. it means "Risk-Reward-Ratio". It means the amount of capital you're willing to risk in a position and the reward you aim to gain from it. Usually 1:2 is preferred by most traders.

It is indeed a vital part. Without market analysis you'll be trading without a direction

Which brokers offer free courses? And how to access the courses

MT5 is an advanced version of MT4, and MT5 provides more tools and benefits. The MT4 is only suitable for currency trading, whereas the MT5 is suitable for other trading methods as well.

The amount you pay for every trade should always be a tiny fraction of your entire account. A suitable starting point is 2% of your available trading money. So, if you have $5,000 in your account, the maximum permissible loss should be no more than 2%.

The hours of 0700 to 2000 GMT are suitable for day trading the EUR/USD since there is enough volatility to extract a profit and pay spread and commission charges. To optimize efficiency, you should day trade the EUR/USD between 1300 and 1600 GMT.

Exotic currency pairings, such as USD/SEK, USD/BRL, and USD/DKK, are the most volatile. Currency pairings with significant volatility are GBP cross rates such as GBP/NZD, GBP/AUD, GBP/JPY, and GBP/CAD. This cross-pair moves more than 200 points (pips) every day on average.

The EUR/USD currency pair is not only the simplest to trade but also the most stable. It is the best option for both beginners and experienced traders.

For most traders, the profitable pair would be the EURUSD, and for me, it's the same, but I also prefer using minor currency pairs such as AUD/GBP are profitable when using good strategies and reliable brokers.

MT5 offers more options and has better memory performance. In contrast, MT4 features additional indicators. But try both for yourself.

Scalping is risky, which involves trading with reliable brokers that provide good spreads and execution speed. Which is why I trade with FP Markets. The spreads in most major pairs move from 0.1-0.3 pips, and in EURUSD they drop as low as 0.0 pips with a commission cost of $6 per round lot.

Most day traders concentrate on price action trading tactics to make a profit within a short period of time. For instance, they would wait for a straightforward breakout from the session's high, take a long position, and employ stringent money management techniques to make a profit.

Yes, there are traders who go overboard when either at a loss or when they gain more profit, which can end up bad. This can lead to corners being cut as you rush to fulfil the order, leading to a dip in the quality of future trades.

Though the MT5 is an advanced version that can also be used for CFDT training, it is more complicated to use when compared to the MT4. I prefer using the MT4 over the MT5 because the MT4 has a simple user interface and is best suited for currency trading.

Most indicators are suitable for scalping, but they are not 100% accurate. Indicators built into the mt4 and mt5 platforms are also reliable and free of cost.

Is price action trading risky like scalping? And How volatile is the market in price action trading?

For newbies, it is better to trade manually if you are looking to learn about forex trading because manual trading helps build strategies and money management skills that can bring in consistent profit.

Not sure about the best broker, but from my personal experience, I consider FP Markets to be a good broker that offers some of the best trading conditions with tight spreads and commission cost lower than other ecn brokers.

I'm looking for a good VPS as well that is reliable and suitable for scalping. Any suggestions?

I'm currently looking for a new scalping strategy other than the Trendline breakouts and pullbacks. Any recommendations?