When I started trading Forex I made too many mistakes. I wish somebody could help me to avoid them, but maybe learning from your own mistakes is the most effective way to progress. Anyway, it is good to read and practice what more experienced traders say about their trading experiences. Today I want to give a few tips that might help those who are starting in currency trading.
Firstly, most beginners when they enter the market they are thinking how much money they are going to make…Continue
Most newbie traders that come to forex market obviously experience losses and majority of them start searching for forex signals providers that would make decisions on their behalf. It is not bad at all if you find a reliable signals provider or if you want to make money when somebody else makes trading decisions for you. However, I seriously doubt if you are able to become a better trader by following those signals.
On the contrary, I think that will weaken your ability to think and…Continue
Most traders admire trend trading. They desperately wait for it to start. Why? Because when a trend starts most traders start making money. It is a very good season for all those who are interested in financial markets. Investors and speculators of the old days would save up their cash and wait for big trends in stocks markets. A very famous speculator Jesse Livermore once said that market conditions are the most important factor for any trader. Some market conditions are simply not good…Continue
I know that it is a personal preference of any forex trader to watch price action or use technical indicators in his trading. I personally believe that technical indicators only show past events in the market, which can be clearly seen in price action. I do not want to argue that indicators are bad. No way, they are not. I do use rsi both in trends and ranges and 200 simple…Continue