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Hi, I want to dive into scalping? What’s the lowest time frame I can get into for charts? what platforms are the best for scalping? I’m a us resident, I looked into ecn and stp? Also is td ameritrade a ecn or an stp? I’m starting small so I want a platform that has low spreads with 0 to very low commission, and has good place orders for scalping, thanks
Hey all! New to forex, have a question about risk management.
So I’m on track to double my paper account from 5k into 10k in less than 2 months. I am taking maybe slightly larger positions than I should, but nothing too extreme. My strategy is picking pivots, gauging the momentum, using top down to pick potential pivots, place a tight stop on one side, and then just letting the profits run as long as possible using 4h chart and placing stops as it continues to run. I have found this to have a low success rate but because of the profit to loss ratio being in the ballpark of 5:1 or more sometimes that I only have to win 20% of my trades. When In reality I’m doing far better than that. Getting close to 50% win rate. Maybe something like 30-40%. My question is, is 2 moNths doubling a paper account enough back testing to start with real money? Or is this too risky? Should I double it a second time before I risk the real dough?
Hello all, I have recently started trading with a low amount of just 100$ in a leverage of 1/1000...Im only going for EuUsd and so far im up to 170$ in two days. Can anyone help or give a top how i should go on? Thanks in advance.
How many day trades can you execute? I been trading stock but I’m only to 3 day trade and sick of tired of daily swing trades.. is there a limit or none? I’m new to forex, any information is appreciated and thanks in advance
Hi there redditors! I've been gathering information to start investinf in forex. I think the question that crosses my mind the most is how much is needed to start(im starting on college this year) and how stressfull it is? Any tip or advice would be good to.
New to forex , why did EURUSD and GBPUSD jump up so bad ? Plus are my support and resistant levels in a good place? Do the market’s regularly jump Obove and below support and resistant levels (1hr chart)
I’m 17 and I am looking to get into day trading. I have heard that trading 212 is a good start especially with low commissions. I want to just use forex as a little extra money, rather than making a career out of it. After doing some basic research I found out that is it useful to have strategies. I have heard that divergence is a good strategy but I have no idea what that means or how it works. If anyone could give me any good strategies or ways to get into this. Thanks!
I have a £500 account, and plan on risking 2% per trade. I’m taking a trade on nzd jpy with a stop loss of 106 pips.When I go in my fxbook position size it tells me to use a lot size of 1.3, is this the correct lot size I should be using.
New to Forex, how do I know I’m not getting scammed?
So I’m new to forex and haven’t done must research but a guy reached out to me and said he would mentor me, and even do the trades for me, in return for 15%, however the site he wants me to use I have never heard over and seems kind of sketchy. It’s fxtradebuz, that’s the name of the site, not much comes up if you google about it. I apologize in advance mods if this post isn’t allowed, new here
So here's the story. About a year ago I started forex when IML became this huge thing at my college (Texas tech) and I went and joined IML, paid about $200, and regretted it the next morning. Being introduced to forex in such a pyramid scheme way, I didn't even give it a shot and just dropped it. Now I'm back and I'm actually wanting to learn the market and how to trade. From new investors and from the vets, what are the ways you guys learned to successfully trade. Books, YouTubers, websites, all are welcome.
Listen there are alot of new Forex traders and there is a lot of advice out there but in the very beginning when you are just starting out. Please follow the trend. Figure out the trend on the day, and only place buy orders on a green day and sell orders on a red day. This will save you some huge headaches...if the trend is all over the place, just walk away. When you have more experience sure trade against the trend, but you will be much more confident in your setups. You will understand newsday cycles, there are so many things to trade on forex which is why I think most of us here like it. Maybe I'm wrong, but a friend gave me that advice when I was starting out and I think it really helped
Night Profit 2 ea not trading very well, I'm new to forex trading and asking for help!
hello everybody, this is my first time on Reddit as I can't find any help on setting up night profit 2, on the store page its says 95 percent profitable trades but I'm just not getting it I've been backtesting on mt4 for the past couple of hours and I'm only at 50 percent. I am very new at this and I use OctaFX for my broker. tia.
I've been messing with paper trading forex for about two years now, and I've just opened a micro account. How long should I trade on that before moving on to funding a relatively big account? Any other advice would be greatly appreciated.
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