Recent content by Neology

Breakout strategy is profitable but identifying an actual price breakout is not an easy task. Traders often get caught up in false breakouts and lose their money. But still the strategy is preferred by many traders as they can decide upon entry and exit points with price action alone. You can...

I second this! Also, make sure the broker has deep liquidity & fast execution to minimise possible slippage, like aaafx & fxpro in this aspect. Their trading conditions are favourable for scalping.

Thank you for the insightful post. I would say all beginners should learn and try price action before moving to advanced indicators. There are many forex traders who use pure price action only in their trades. But we can always choose some reliable indicators to make the decision making process...

Hi, you can learn trading for free. No need to buy courses. You can start with Babypips.com. Great source to begin with.

I think 5% to 30% drawdown is optimal. Even drawdown upto 50% is acceptable and anything more than that is a matter of concern. It is important to keep our drawdown in control based on how much risk we are taking.

Hello and welcme to the forum. Hope you like it heroe.

In all types of trading, risk management is a critical aspect. It is the most critical skill that a person must learn and master in order to succeed in the foreign exchange market in the long run.

I think you must buy US dollars for trading and you can sell POUND. Overall the market is very choppy nowadays because of volatility.

Position size is the number of units that a trader buys or sells a currency pair. This is very important for traders to know the quantity and how to get successful long-term.

Copy trading is the best way of making money in forex. You can learn from your mentor or any other expert regarding how and when to trade. You can practice copy trading in your demo account if you are a beginner.

Forex is a fantastic way to generate money, but it shouldn't be your major focus as a beginner. Getting to a situation where you can earn consistently, requires time, patience, and a lot of study. Thus, complete your forex education first.

When a trader places stop loss, they reduce the chances of risk that may occur during market changes. By doing this, they save their already accumulated profit and don’t have to start from scratch. Stop loss is a great risk management strategy and works well. All newbies must use stop losses.

Welcome to the forum. Keen on hearing about your experience so far. Do share your thoughts. Good luck!

Nope, in fact, it’s the exact opposite. Forex trading is very affordable to start. Even brokers have very low minimum deposit requirements these days. I started with aaafx at $300 and never looked back. Just keep in mind to risk small in the beginning and use risk management strategies to...

Risk is part of trading. I keep listening to people talk about the risk of forex trading. Risks are unavoidable but can be reduced . All you can do is learn about risk management. Do not think that you can make easy money in forex trading. Invest only the amount of money you can afford to lose.