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Started trading Forex early September with $500 and now I'm up +$450 as of today.
Crazy thing is that I'm such a beginner I don't know what half of y'all be talking about on this 🤣 I just try to keep my margin below half of my bank roll. And I never take a trade for a loss. My goal is to hit $1000 or +100% profit in my account, then I'm going to reward myself by depositing $1000 into my account. Hopefully my results stay consistent.
Just trying to get set up to trade Forex is a PITA
Well after a week of messing with brokers, metatrader setups, and working on my investment plan/technique (and no this isn't the first time I've messed around with Forex), I decided to take the plunge and throw down some currency to start comparing my trading ideas to the real thing. My deposit was accepted by the broker and appeared in my account. I was all excited to hit the market tonight and make a couple of small trades to get things rolling. Long story short, my plan to trade has bombed because my account isn't live and the 24 hour support has a two day backlog. Blah!
I’ve been learning forex for about 2 months, at the moment I’m practising trading pullbacks with Fibonacci and candle stick patterns, this set up shows a pullback to the 50% retracement level with lines up with previous resistance now acting as support.
I’ve been looking to try forex. I started out trading stocks & after losing 58% I buckled down & spent a lot of time making a trading plan & practicing discipline. Over the next few months I built up over 500% with many small consistent wins. Problem is now I work full time on nights. Thank you!
1.) is trading forex at night viable? 2.) what is the best broker for a small account? 3.) is $100 account to start too small? (I want to practice with real money but not so much that would be discouraging when I take losses.) 4.) what are the best books/resources to start learning? (Willing to spend more than $100 on books cause I like to read and not go into something blind)
Iv recently got into forex and Iv been following a team. The huge spikes seemed strange to me so i set up a demo account with another broker. The first 2 pictures look identical but the second 2 pictures show the huge difference. Is there something dodgy with this broker?
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New to forex , why did EURUSD and GBPUSD jump up so bad ? Plus are my support and resistant levels in a good place? Do the market’s regularly jump Obove and below support and resistant levels (1hr chart)
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I have just started learning about trading in forex market and it would be great if someone with experience could help me to come up with a trading plan
I just finished reading Currency Trading for Dummies and I now have some very basic idea of trading however I understand that I’m only starting and I’m going to stick with demo account for now. Now I want to start working on my trading plan and as I have learned there is no easy formula to make a trading plan however I think someone with experience could explain to me some flaws of my trading plan if there are any. For now I only have a very basic trading plan. I have decided to trade in 1h and 4h charts. First, I will look at a general trend because as I learned in the book it is better to not trade against trend and then look at resistance and support in daily charts. Then I will look at where prices are likely to break resistance or support and there I am going to enter the market. I plan to close my positions at some key resistance or support levels or when I learn how to use it maybe I will also use Fibonacci retracement. Hoping to hear andvice from someone who is familiar with such type of trading Thanks!
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