No it's not like that. Yes sometimes it work as you said but remember one thing every currency pair has its own unique characteristics. It is better to learn only those pairs that you want to trade. For some people one or two pairs are enough. For ...

USD Crosspairs

I see the post is from 2006. Hope you are now doing great. This is for the newbie who wants to invest bigger amount. Don't invest big money unless you have proven your worth. Find a strategy that works for you. Make consistent profit for at least ...

A newbie in search of Support

Indicators are useful but not the whole thing. Only charts are also very important. There is much more thing than indicator. It is the mind. Sometimes you just know it's going to work. With time you get an understanding of trading. That ...

is it true

For newbie it's a complicated thing. With low deposit, you need high leverage to trade. But once you crack the art of trading. You have to lower your leverage. And moreover it largely depends on your trading strategy and risk management also. I ...

What leverage is best for a newbie?

I do not think there is any EA that works for long. It works for few days because EA is made of different strategies. It needs constant modify to work for long. EA could be very good for trading if you can make it of your own with your own strategy. ...

What is the best EA in here?

No one knows. It differ from person to person. And even most people never get into it. It Will depend on various factors. If you come to forex by knowing that it's the easiest thing to do, first you have to unlearn yourself. Then we have to relearn ...

How long should it take before I hit the jackpot

Good tips. The biggest mistake newbie does is they treat trading as a gambling. They come here to get rich overnight. But they are unwilling to learn by themselves. But the reality is- you have to be skilled in order to make money consistently. If ...

Six Forex Trading Tips for Newbies

Spend your time on learning. Running for ready-made strategies is not learning. Spend time on MT4 or trading terminals. Learn how to read the market. Study books not just some pages on internet or ebook. Read about successful traders. Learn how ...

Feedback for a noob

I see it's an old thread. I hope now you are doing well. I am writing for those newbies who have same kind of questions. Don't look for strategy so early. Trading is all about being skilled. Learn how everything works. Learn the candlesticks first. ...

Two Heads are Better Than One

I do not think there is any statistics that say this exactly. And most consistent profitable traders are not willing to announce that I am making money here. They love to remain silent. And why would one disclose his or her personal information. The ...

How many consistently profitable traders around?

On paper 3% a day is very easy. But in practical it is extremely difficult. No offense. Trading is group is more difficult. You get influenced by other traders activities. Your own trading psychology get disturbed. For good trading you need calm and ...

3% a day?

30% return in average per month can be possible if you have good strategy. But if anyone says that every month he can earn strict 30%, there should have been some doubt. Market does not behave or move same way in every month. Some months you will ...

Is it possible to earn 30% per month consistently for 4 years?

Best strategy is the strategy that works for you. The strategy that works for you may not work for me. Every body sees the market differently. For some people it's 5+5= 10 and for some people it is 8+2= 10. Try to understand the market. Read charts ...

Real, profitable strategies

Correlation is important. But it is not a sole criteria to take an entry. Like EURUSD is going up, then take a short on xxx/yyy pair. Remember one thing every pair has Its own unique characteristics. Correlation can be a supporting stuff but not the ...

a bit dumb but i know you'll help - Correlation Question

There is some time when every pair becomes slow. Not all the time they move fast. That is also a reason we need patience in trading. The problem is most of the traders become restless. For trading major pairs are good. Among them you have to find ...

Fast moving currency

Thank you for your tips. To me being realistic is the best way to be emotion free. Most people come here to get quick rich. They want to make 100%, 200% profit per month. I always say to compare forex trading with other business. With 1000$ capital ...

How to Become Emotionless

Yes I know people who are making good money out of forex trading. Getting success in trading requires a lot of patience, hard working, quest for learning and practice. You also need good trading psychology. Most people fail because they just do ...

Has anyone become wealthy from forex?

I do not think any EA works for long. EAs are made based on some strategies. Market is constantly changing. If you do not know when you need to modify the EA. It may wash out your account. Once market course is changed the maker needs some time to ...

Best Trading System

Yes demo is a step. It's a wrong decision not to use demo before live trading. To know how the online trading system works you need to practice in demo. You also need demo account to test your strategy. You can't test your strategy in real account. ...

Is demo a step before real trading?

It is a difficult is early stage of trading life. Apply the age old saying of Know Thyself. Know your upper limit. Don't try to do anything unless that is tested by you. Be emotionless. Make your checklists to open and close a trade. Always follow ...

How to manage your ego and stay humble?