If I become a forex trader should I use other people's forex trading strategies or develop my own one?
I am going to be 18 years old in a few days, old enough to invest money. I have had a practice forex trading account with FX Express and have discovered some interesting things and have found ways to make money consistently at 10 % compounded daily by developing my own trading rules by using only 1 25 leverage and setting a stop loss of the value of all my trading capital so I don't keep on losing small amounts of money consistently. So far this has worked out fine at me winning every trade so far since I started doing this. What I'd like to know is if I should copy someone elses trading styles and strategies, or develop my own ones to suit my personality? Please advise.
Where can i learn advanced forex trading strategies ?
Hello all,first of all i want to say that i already know all forex beginners materials i know what pips means what moving average means, MACD , indicators, robots, experts, RSI, .... and all that stuff ...now i still want to learn more advanced things to go one step farther to learn a real working strategies, step by step ... from choosing a good currency pairs , to picking the right direction bearish or bullish to enter the market and where exactly to exit the market where to place the Take profit or Stop loss orders i'll be more than glad if someone already passed those steps , already making a profit from forex with real account not demo and could just post a helpful link or advice to start from..i don't care if the tutorial website you point is free or not i am ready to pay money for good advanced forex trading courses but i am scared to end up with a scam one, because as you know about 99 % are scams and all they want is your money , and they don't give you a real worth course ...thanks all
What is the best forex trading strategy?
I have been reading about trading forex but I am unsure about the strategy I should be using. I have read about so many different strategies and they all claim to be the best and easiest. I was just wondering if anybody had any real experience trading forex that could recommend a good strategy to start out with.
Is this a good forex trading strategy that could work to make you a millionaire? Please read/advise. Thanks?
Okay, so, currently I'm 18 and I've looked into different possibilities of how I could become a millionaire using the forex market as my vehicle. I have discovered that using 1 100 leverage or even 1 50 1 25 is a bad idea if you want to be safe about it, and using a more modest 1 10 leverage instead is best for my chances of success. What I've also discovered is that the forex markets trends last months or even years. So, my plan is as follows 1 Start with $1,000 in my new forex trading account.2 Use 1 10 leverage always to reduce a lot of risk.3 Use a stop loss of all my trading capital in every trade.4 Keep the minimum take profits as long as its more than what my commissions would be.5 Just follow monthly chart trends, i.e. if the trends gone up for the past year on a yearly chart, and it shows it in a monthly chart that its going up as well, just follow the trend up along with it and keep on going up until I think its going to stop going up by taking advatage of lots of small take profits along the way.6 Be aware of economic news and reports.Example Say the GBP USD is trading at 1.0000 $1.5000, and I place a bet to buy GBP USD at this price at a 1 10 leverage, or $15,000 worth of pounds, 's and I set a take profit of, say, $15 or 10 pips and a stop loss of my whole $1,000 and and keep on doing this, taking profits by trend trading and make this same $15 day for the 6 days the FX market is open a week, or $90 week x 52 weeks $4,680 in 1 year my original $1,000 a 568 % return for one year.After I have achieved my 568 % for 1 year, reinvest all capital and get another 568 % compounded on top of that. So, it works as follows year 1 $1,000 up 568 % $5,680year 2 $5,680 up 568 % $32,262.40year 3 $32,262.40 up 568 % $183,250.43year 4 $183,250.43 up 568 % $1,040,862.40 USD millionaireyear 5 $1,040,862.40 up 568 % $5,912,098.74 USD multimillionaire and GBP multimillionaire, or 3,829,025.15.What do you say here like? Could this plan work do you think?
What is the best forex trading strategy?
i want to know a proven strategy for forex trading swing or long time and will appreciate if it's from a pro trader.thanks
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