Forex Trading for Beginners (A Step-by-Step Guide)
How to Trade Forex: 12 Steps (with Pictures) - wikiHow
/r/Forex Trading Community
Welcome FXGears' Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat.
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Does anyone know if the Broker trading rule that limits your trades applies to Forex trades? The platform i'm using (Forex.com) I think requires margin trading and i don't want to be limited to 3 trades a day. How do i turn off margin and just use my cash?
Basics of trading on Forex to help your strategy a bit
Never trade against the trend if you're not an experience trader
Before you even open a buy or sell, know where you should set your Stop Loss and Take Profit
If you are going to take a trade, make sure to always trade with the trend. If your H1 chart is on an uptrend and your H4 chart is on a downtrend, get out of that trade. Wait for both the H1 chart and H4 chart to be in the same direction trend.
Use smaller time frame to evaluate your entry. When your H1 chart and H4 chart are both trending in the same direction, THEN go to your M5 or M15 chart for your entry.
Trade or test on pairs that dont have a huge spread, stick to the main pairs like EURUSD, USDCAD, USDCHF, etc bigger pairs are generally "easier" to trade, in a sense
If youve had a set of consecutive losses, take a break. Trading with emotion generally results in more losses.
I have been trying to learn more about trading on Forex by using paper trading. Probably a stupid question but I put a limit order to buy at 1.32755 and it passed by and went to 1.32752 why did the buy order not go through?
Hi, I'm not very experienced in stock market but liked the idea of trading USD vs EURO as a part time gig. And Forex platforms seems to me the best option. While I'm not trying to get rich, getting 1% return a day should be more than enough for me, while playing safe. If you traded on Forex before, what was your experience? is it worth it? is it a waste of time or can give you decent returns as long as you're not greedy and patient?
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A friend on FB is constantly posting about Forex trading, about the profits for only 1.5 hours work every morning. He is part of a team with a mentor that leads them online each morning. I'm skeptical. What's the catch? What is his mentoteam leader getting from it? Is it a good platform? Anyone had success or failure?
Does anyone use the forex.com desktop app? And if so does anyone know how to use the automated trading function? I see the option to create, backtest and attach system to chart but I'm unclear is that all that must do.
Hello, I am an investment professional, work for a large fund, investing in equities. Forex has interested me for a while. However, I have always been highly skeptical about it (and so is every person in the investing industry I know - including our highly-educated currency traders). I would be interested to hear your views, however. On its face it seems impossible to make a living trading Forex: (1) There is no famous investor / billionaire who has made it by Forex - i.e. who has achieved consistently good results over many years (and there are many who have done so by investing in other financial instruments) - which suggests that, in the long term, you will lose (like in a casino); (2) Most (all?) of the people who praise Forex and claim to have had stellar performance tend to sell books/courses/etc. - which would be a waste of time if they actually had consistently good forex performance.; (3) The industry ("experienced" investors, educators etc.) lacks transparency. I have never seen anyone capable of presenting good long-term performance track record objectively verified by a third party. Yes, I know there are people who have had a series of great trades (there were plenty of those in dotcom bubble times in equities as well), but I am more interested in the ability to perform well across cycles, over many years... I will be looking forward to hearing your responses... and being proven wrong. Thank you for your help. Dante
5 Reasons to Avoid Holiday Trading on Forex Market
I’m used to answering almost every single day to my clients why they shouldn't trade during the holidays like Christmas and New Year, Independence Day and Thanksgiving Day. I can proceed according to the list but basically those are major US, UK, Germany and Australia holidays. Today I’m going to clarify the situation regarding all these holidays and try to answer the question: “Is it worth trading during the currency market holidays?” There are 5 reasons not to trade:
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