Utilize past performance charts and analyses to detect patterns and trends that may have occurred in particular market conditions. These patterns can assist in creating a strategy or method that one can consistently apply in trade practices. Remain aware of changes in market and economies to apply the proper techniques for profitability and minimal losses. Be realistic about the trade processes and expect some degree of loss from time to time. Do not become greedy by chasing after equity and remain aware of the amount of risk finances are in. Assess and manage trade funds and adjust methodologies where applicable to accept smaller losses and reap greater financial gains. Currency trading that is well planned, executed and assessed can produce smart returns and minimize significant losses. The creation of a particular strategy and consultation with a trade broker can assist in determining the most applicable financial decision. Remain on top of market trends and examine patterns during the trade process that allow for a more effective, objective and disciplined approach.
Mare | Forex Tips is a Forex Trading community. We started our community to help people earn money through Forex. If you don't have experience with Forex, we made a tutorial explaining everything you need to know before you get started. https://discord.gg/6sR9GG5
I have experience with trading stocks however I'm not very familiar with forex and I've always been interested to learn it. Looking at forex charts it just appears so random and unstructured to me and I'm not really sure where to start. Was hoping you fine folks could help guide me in the right direction i.e. ideal currency pairs, timeframes, best times to trade, reliable patterns and setups, mentors and resources, etc. Thanks for your time guys.
Help you to understand key words in Forex (Leverage ect.)
Help you understand how to use various indicators and tools
Help you to read charts/ candles the correct way
Help you understand how to analyse market structure
Help you manage your risk
Help you understand technical and fundamental aspects of Forex
Help you Understand chart patterns
Help you to set price alerts and plan ahead
Help you to enter and exit positions
Help you to avoid terrible and overused technical indicators
Help you turn terrible indicators into highly useful indicators
Help you to trade MY exact strategy (OBV Divergence trading)
Help you create a trading plan that is perfect for YOU and YOUR financial situation
HOW TO SPOT FOREX SCAMMERS/ FAKE FOREX GURUS -
Only posting profits and not losses
Showing expensive cars etc.
Not giving you the material to improve your trading skills and understanding
Promoting a get rich quick mentality
offer Forex signals for payment
TRADING MYTHS -
'Trading is gambling'
'Higher leverage = higher profits'
'More indicators are better for you'
'it's not easy to trade'
'You need a large capital'
DEMO ACCOUNTS -
We will give you assistance on creating a realistic and completely free demo account in order for you to practice, many believe you shouldn't use a demo account for more than 6 months as it does not give you a real understanding of the market as there is no emotional fear of losing money, however, i strongly recommend using the demo account until you are confident and comfortable to trade the real market. (I traded a demo account for 2 years before i felt comfortable enough to live trade, however i did not have good learning material to speed up my progress)
WHEN AM I READY TO TRADE? -
Are you consistent with you profits?
Can you trade without being greedy and scared?
Can you afford to lose money to gain knowledge and money?
Can you manage your risk properly?
are you enthusiastic about trading?
Do you recognise the importance of your trading plan?
Do you have a positive attitude?
The main reason for this Subreddit is to educate you on up to date tips, strategies and advice. Please understand that we are NOT your financial adviser and we are NOT here to tell you when to make trades. All of our trade signals are from correct and professional technical and fundamental analysis. No trading strategy has a 100% win rate and we hold no responsibility for any losses you may encounter. *FOLLOW OUR TRADES AT YOUR OWN RISK* Stocks, Options, Binary options, Forex and Future trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the stock, binary options or futures markets. Don't trade with money you can't afford to lose especially with leveraged instruments such as binary options trading, futures trading or Forex trading. This Subreddit is not an indication to Buy/Sell stocks, futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this Subreddit. The past performance of any trading system or methodology is not necessarily indicative of future results. You could lose all of your money fast due too: poor market trading conditions, mechanical error, emotional induced errors, news surprises and earnings releases just as well as grow your profits incredibly due to the same reasons.
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