Trading the pullback of a breakout to me is the absolute safest way to trade in my humble opinion. I could care less about catching tops and bottoms. I care about reducing my You might actually consider trading bonds instead. You’ll need 10k to get started but it’s a great way to trade for income. One of the best things is you can leverage with investment Tips for trading US I've been trading forex for over a year but have never traded US Should I be trading US30 exactly the same as forex? What wbout trading sessions, is You're trading against the best of the best and algos, and they are trading the traders (you) Hope these tips give an indication of what's ahead. If I had known what I would have to go 9/8/ · Forex trading is all about timing. Markets are their most volatile during opening and overlapping times, after policy changes and announcements ... read more
This overlaps with the advice above, overleveraging increases your exposure, also known as risk. Managing this variable when trading, according to most institutional, retail and reddit traders - is key to protecting your investment. Another interesting point made by the Forex redditors is - in the above vain, stop-loss defines position size, not vice versa.
This is frequent reversal made by new traders which focus on their position size and potential gains, instead of their maximum risk. Impulsiveness when trading is very dangerous. Having a trading strategy and sticking to it is an extremely effective method to manage risk - the inverse on the other hand is an extremely effective method to lose all of your investment.
If you proactively try to recover your losses immediately after losing, then you are going to be in a world of pain - or at least your account is. It is very important to detach emotions from trading. Greed, fear, anger and pride which seem like biblical cardinal sins are in fact emotions that can influence and cause traders to make uninformed decisions. Of all of the advice on the internet, keeping a trade journal is something that is surprisingly under represented. With all the variables involved having a baseline that you can revert to is extremely valuable.
The military looks at past campaigns for strategy, athletes look at play backs of their past games to avoid their previous mistakes, become more efficient and ultimately better at what they do. What makes you think traders couldn't benefit from that? Forex trading is all about timing. Markets are their most volatile during opening and overlapping times, after policy changes and announcements. Sometimes you need some time for volatility to normalize and see what trends are emerging, other times volatility is beneficial.
But most new traders are eager to trade and trade on impulse, which is never a good idea. Or in trading lingo, stick to your trading strategy.
A side-note here - you are not married to one strategy and no one strategy is gospel. Those that adapt, survive once said an old British chap named Darwin. The same holds true for traders on the market.
Although there are many different ways to approach trading, and as many different trading theories as there are stars in the sky, one thing that is a given is; knowledge is king. Sometimes that knowledge comes directly from the source - traders like you on Reddit.
Select additional content:. Education Sponsored. One of the best ways is to check out the testimonials of the product. Forex Trading forums are probably the best place to do this. You can find a lot of honest product testimonials by looking at various forums.
Some of the top Forex Trading Scams include false claims, empty promises, and poor customer support. Another way to tell a scam from a real product is to ask around. Anybody who trades knows when something is shady and when they are getting what they bargain for. So why wait until it's too late? You could be waiting a long time before you realize you are being scammed.
Here are two popular scams that have actually been solved. These were both uncovered through a few hours of research on the internet. You too could use these methods. Keep in mind that these solutions are for home accounts only, they aren't recommended for high volume traders. First, one Forex Trader was selling a Forex robot that supposedly made him money. The robot supposedly told him he should buy it today as the market was going to tank. This caused a Panic in the Forex Trader who then lost a lot of money.
Thankfully he had a friend who knew something about this Forex Robot scam. The owner of this product was telling people that it was a must have product for the FX investor.
Most people would have been fooled by his sales pitch. If you don't know anyone that owns this product, please take your money and run. Luckily there is other Forex Robots that is much better than this one. There are several sites on the internet that review different products. One of the top products on the market is called Fap Turbo. If you have a chance to review its website, I am sure you will be happy that you did.
Let me tell you a little bit about Fap Turbo. Basically this technique makes use of very short periods of time in order to make money. What most people don't realize is that these short periods of time can last up to two hours. This alone has made this currency trading system extremely successful.
Even if you are not a professional investor, this method can make you hundreds if not thousands of dollars in a very short period of time. Do you think that you will be able to duplicate this success? Of course you will.
What could possibly be the value of advice from an online forum like Reddit? The specific Forex subreddit , not only features success stories but horror stories of forex traders "blowing" their accounts in a myriad of ways.
It's like being privy to an extensive trial and error process most traders experience , without actually putting your own investment on the line. regulated - so sales comments or marketing materials are usually deleted. So, most. ForexLive seems to be Reddit's favorite source of Forex related info. Some other commenters mentioned Twitter as a great source for concise real-time information - a piece of advice we gave in our article about looking beyond technical analysis.
There are many a cautionary tale on the Forex trading subreddit, one that seems to consistently show up is the new trader that decimates their account by overleveraging. If you are unfamiliar with the term it's when a trader uses an ill-advised amount of leverage to open a position.
Why ill-advised? Because a very small adverse movement, would close out the trade - or even multiple trades due to margin stop out.
This overlaps with the advice above, overleveraging increases your exposure, also known as risk. Managing this variable when trading, according to most institutional, retail and reddit traders - is key to protecting your investment. Another interesting point made by the Forex redditors is - in the above vain, stop-loss defines position size, not vice versa.
This is frequent reversal made by new traders which focus on their position size and potential gains, instead of their maximum risk. Impulsiveness when trading is very dangerous.
Having a trading strategy and sticking to it is an extremely effective method to manage risk - the inverse on the other hand is an extremely effective method to lose all of your investment. If you proactively try to recover your losses immediately after losing, then you are going to be in a world of pain - or at least your account is. It is very important to detach emotions from trading. Greed, fear, anger and pride which seem like biblical cardinal sins are in fact emotions that can influence and cause traders to make uninformed decisions.
Of all of the advice on the internet, keeping a trade journal is something that is surprisingly under represented. With all the variables involved having a baseline that you can revert to is extremely valuable.
The military looks at past campaigns for strategy, athletes look at play backs of their past games to avoid their previous mistakes, become more efficient and ultimately better at what they do. What makes you think traders couldn't benefit from that? Forex trading is all about timing. Markets are their most volatile during opening and overlapping times, after policy changes and announcements.
Sometimes you need some time for volatility to normalize and see what trends are emerging, other times volatility is beneficial. But most new traders are eager to trade and trade on impulse, which is never a good idea.
Or in trading lingo, stick to your trading strategy. A side-note here - you are not married to one strategy and no one strategy is gospel. Those that adapt, survive once said an old British chap named Darwin. The same holds true for traders on the market. Although there are many different ways to approach trading, and as many different trading theories as there are stars in the sky, one thing that is a given is; knowledge is king.
Sometimes that knowledge comes directly from the source - traders like you on Reddit. Select additional content:. Education Sponsored. GMT LON NY TKYO SYD Your email. First name. Last name. Trading offers from relevant providers. SIGN UP. Must Read Save The Date - Finance Magnates London Summit VIDEO: Seeing is believing.
How do you take yourself from a gambler to a trader. Russell technical analysis. Bears just got faked out. Copper is the simplest investment thesis anywhere Russell technical analysis In 30 seconds.
Forex Trading is a business like any other. You need to invest your time and effort to learn about the market, tools and strategies. Once you have the basic knowledge, you can then begin to You're trading against the best of the best and algos, and they are trading the traders (you) Hope these tips give an indication of what's ahead. If I had known what I would have to go 9/8/ · Forex trading is all about timing. Markets are their most volatile during opening and overlapping times, after policy changes and announcements Trading the pullback of a breakout to me is the absolute safest way to trade in my humble opinion. I could care less about catching tops and bottoms. I care about reducing my Posted in the azaforex community Tips for trading US I've been trading forex for over a year but have never traded US Should I be trading US30 exactly the same as forex? What wbout trading sessions, is ... read more
They join because they want to know how to find the good Forex Trading System and Systems out there. Russell technical analysis. TKYO Copper is the simplest investment thesis anywhere Russell technical analysis In 30 seconds. If you are looking for easy money you will soon discover that Forex Trading is indeed very profitable, but it is also full of scams.
Trading offers from relevant providers. Home About About Contact Privacy. It is very important to detach emotions from trading. Related Articles: List Of Legit Forex Brokers Invest Broker Review Forex trading tips reddit reddi. They join because they want to know how to find the good Forex Trading System and Systems out there.