Recent content by eleanorkim

I just keep an eye on major news and economic updates. No tools just see how the market reacts and learn from that. Does not always work but prefer this.

I spot the swings that jumped out to me on the chart, the ones that price keeps reacting to. For Fibonacci, I pick the major moves that feel meaningful and then just watch how price behaves around those levels. If it matches what I see in the market that’s when I pay attention.

Most indicators just lag behind price. They can help spot trends but relying on them too much gives a false sense of control. I mostly use price action and key levels instead, feels way more real.

Start with price action and support/resistance, use a reliable broker, test on a demo, and never ever go into a trade without stop-losses. Gold reacts a lot to news so keep an eye on that too.

Yeah, if approached carefully. Good chance to learn markets but risk is real so start small and focus on learning.

Most fail because they trade without a plan, let emotions take over and don’t manage risk properly.

It's risky because it magnifies everything. For example, if you put $100 in an account with 50:1 leverage, a 2% drop in the market could wipe out your $100 instantly. It’s like swinging for big profits but risking way more than you’d normally lose.

Wouldn’t trade without them. They’re what keep you from losing way more than you can handle and help protect your account.

I wouldn’t really go for scalping if you’re just starting out, it’s super fast and stressful. But if you do try it, just keep your trades short, watch the market closely, and be strict with your stop-losses so you don’t get wrecked.

Usually stick to demo testing and refining my entries and exits before going live, it really helps keep emotions in check.

Haven't tried it but from what I’ve seen having a strong strategy and good risk management still seems to matter most.

Just stat away from GBPJPY at first, it’s so volatile. Something like EURUSD is much more stable and easier to start with.

That was really thorough, thanks for sharing that.

Yeah, on a demo account, why not? But just for the first few days. After that, you really need to practice and learn, not just place trades blindly, start building your knowledge from the get-go.

Yeah, basically every long needs a short on the other side, but the long/short ratios can jump fast because of leverage, market order spikes, or exchanges matching big trades internally.