Hello! New traders are recommended to start their trading journey with the free course on Babypips. You can also watch youtube videos to have a grip on how strategies work.
I think price action sets the foundation when it comes to spotting a trend. When we are trading based on a trend we should also watch out for a reversal that might happen. I use RSI as that helps me to spot the trend reversals easily. I have seen some traders saying that they trade against the...
This was an informative piece to read. Controlling our emotions is one of the most difficult things in trading. We often make decisions based on emotions and don’t even realise it. We can fix this if we make it a habit to journal our trades daily. Sometimes, I tend to notice that there was not...
You're wrong, sir. Cryptocurrencies aren't the safest money ever. The price of cryptocurrencies fluctuates wildly and frequently, making them a dangerous investment.
And CBDC lacks blockchain technology and in my opinion governments won’t allow it.
I appreciate the thoroughness of this explanation. Drawdown is a measurement that helps forex traders figure out how volatile their account balances are. it will tell you how much and how much your account equity will decrease. Drawdown is another good trading system performance statistic.
There are a lot of industries in which you can anticipate better growth and sufficient income, and you can choose one of those industries to pursue. Choosing a business based on the opinions of others is never a good idea. It is in your best interest to discover it on your own.
No set of rules works when you are looking for a profitable strategy for yourself. You will have to perform market analysis as per your understanding and change rules to see what fits the best for your needs. Building a plan of action on your own is what I recommend.
If you start trading with the wrong mindset, you are bound to make losses. You must know that trading is not just about making money but also about protecting it. If you overlook the importance of protecting your capital, you are not a trader but a gambler.
I don’t think any skill works more than your capability to handle losses. Knowing that losses are inevitable in the forex market is different from actually losing your money. Preparing yourself for losses both mentally and financially can help you stay in the market for long and make great trades.
This problem seems to be overlooked by a lot of people, but in my opinion, it is crucial. A decent forex forum is beneficial to join. I believe this because when you communicate with other traders and share your questions, concerns, and experiences with them, you not only help them but also gain...
The information in this article was excellent for beginners. If properly applied, the breakout approach can be profitable. When deploying such a setup, you should be on the lookout for fakeouts and breakout failures. Head and shoulders patterns are more likely to have false breakouts, which...
In short, stop losses protect your trading capital. The forex market is a volatile market, and not everything goes as you plan. So to protect your money from the market's volatility and unpredictability, we make use of stop losses. When you use a stop loss, your trade automatically closes after...
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