good way to trade forex
- Thread starter abdala
- Start date
- Watchers 17
abdala, I personally have found success in price action trading. From my personal experience I think that if a foundation is made with PA trading then the sky is the limit as far a implimenting other tools/strategies. With out it many traders (myself included) find themselves cycling endlessly through various combanations of indicators/EA's to find a "system" that reaps profits. Instead of using indicators to "indicate". But in the world of trading their is more than one road to success.
I personally don't know much about acfx. as far as the brokers I use I never have had any problem with them. They are both reputable from my personal experience. I don't trade any lower than 1H timeframe(i think this makes a huge difference). On demo I pretty much pick any broker and give them a try. I have 2 demo accounts now also FXpro/Forex.com. I like to demo with all different brokers/GMT etc...If you are demo and are very new than pick 2 and check them out. In the learning stage my suggestion would be to stick with a popular broker and consentrate on trade approach/system/strategy. Also the more stable you keep your money managment will also help, doing everything you can to isolate success or failures to the system/strategy. This way when you have confidence in your strategy to the market you can then determine what broker suits your needs and what risk profile you are comforable with. The more things that get switched around (MM/broker/timeframes) the harder it is to determine what is working and what is not.
Last edited:
Easy Trader, your suggestion is really useful for newbie just like me. I think, using Demo or practice account is the best way to learn trading strategy, system and being familiar with its other important factors.
I think having a good Signaling tool and staying on top of the market will bring you the most success. There is alot out there . You need to feel comfortable with what you choose . And remember you won't be positive in all your trades. You have to look at your return average.
There is no shortcuts at all. the BEST way is to spend your time to do homework, learning from basics.
those who failed in the market mostly because they lack in either a knowledge of the markets or themselves.
Successful trading need a commitment over a long time so that you can grow from a novice to professional.
those who failed in the market mostly because they lack in either a knowledge of the markets or themselves.
Successful trading need a commitment over a long time so that you can grow from a novice to professional.
Abdala, I recommend trading with only 4 pairs, I only trade the major ones. Also I trade using indicators.I personaly like Line MA and Bollenger Bands and the Accelerator or "AC"
and trade with low lot size or you will end up losing your account 🙂
and trade with low lot size or you will end up losing your account 🙂
I use PaxForex as my prime broker and only had positive experiences with them. As far as strategy is concerned I am a technician and trade based on what the charts tell me. I usually have more than one entry point into a trade.
One thing that has worked for me was starting with a micro-account and only trade 0.01 lots, especially with a new trading strategy. I can also recommend to stick with your S/L once you place it and do not adjust it when the market moves against you as it is a sure way to increase your losses.
One thing that has worked for me was starting with a micro-account and only trade 0.01 lots, especially with a new trading strategy. I can also recommend to stick with your S/L once you place it and do not adjust it when the market moves against you as it is a sure way to increase your losses.
Adala- Make sure you demo trade for at least 1 months before you enter in your real money
Free “Demo” Accounts, News, Charts, and Analysis. Most online Forex brokers offer 'demo' accounts to practice trading, along with breaking Forex news and charting services. All free! These are very valuable resources for traders who would like to hone their trading skills with 'play' money before opening a live trading account and risking real money.
Other important advice-
1. avoid anger
2. serious thinking
3. control our emotions
4. avoid entering the market with bad mod
5. relax
regards>> 🙂
Why would anybody need a demo when you got Oanda?...single unit trades in their proprietary platform...open an account for 5 bucks! or 1 buck!
Practice trading and get better (hey maybe I need to go over there!)
ES
Practice trading and get better (hey maybe I need to go over there!)
ES
Because MT4 demo can be opened in about 20 seconds, while opening and funding Oanda account will take a lot more time.
why did you choose these brokers? i want to create a mind of popular brokers and than make a decision.
Similar threads
