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I won’t comment on the taxes because different countries have different taxation systems and it will be good if you contact your local CPA about it. And frankly, I haven’t faced any safety issues with the offshore brokers that I have used so far including FXTM and Merrill Edge.

Well, that’s your way of looking at it and every trader has a different idea of how they want to see their trades, even if they're not profitable.

I could easily say that the price action strategy is the best one for me. But it would not be true for you because you may not be able to trade as many hours or at the same time as I do. It depends on your style and circumstances. For instance, a day trading strategy can be the best for you to...

Newbies can always learn to use and practice a strategy with indicators. Anyway, what all indicators do you use?

I think using the right indicator with a profitable strategy can do no harm. The chances are you end up making more profits, right?

@cortney302 Use MA if you wish with the support & resistance, but only with the indicators, because otherwise it isn’t as powerful as the horizontal lines.

It’s quite common actually. Trading in small amounts restricts you to trade with a positive risk reward ratio.

Trendlines and moving averages are good at identifying these too.

O c’mon let’s not suggest you’d rather refer trading live straightaway and losing money.

Etoro’s second name is the market maker broker because it offers a variable spread of 1 pip on major currency pairs, like EURUSD. Now this is indeed higher than the average industry spread.

Again something more suited to stocks and ETFs . For forex trading they turn out to be very costly. Their spreads average around 2 pips as the commissions are built into the spreads. I have used them for trading all securities and even in peak hours I never got less than 1.9 on most pairs. I...

Merrill Edge - don’t charge anything for stocks and ETFs. Robinhood on the other hand will give you $0 trade on fractional shares.

There are various options with indices and you can select the one you want to trade. I prefer NASUSD.

Yeah, you’ve pretty much summed it up. You can also speculate on both rising and falling markets with indices.

I am of the view that limiting yourself to a few currency pairs is a negative factor. Only in the beginning it’s better to focus on 1 or 2 pairs but eventually one got to expand what they trade in.

It is a great advice to diversify your portfolio as much as possible but without overstretching the limits. If you make your presence in diverse markets but are not able to actively cater to them then obviously you will lose money.

The length of investment/trading, whether you term it short or long, is also very subjective. For instance I scalp 5 minute charts and for long term option I keep some positions open for weeks together. For me that’s long, but for some others it still might be a short term thing.

Perhaps for you, but not necessarily for all. Some traders can actually make very good estimations based on a combination of 2 indicators. Personally for me bollinger bands along with keltner has been working very well.

You will actually need more concentration in smaller charts. I suggest traders with time issues go for longer trades, then smaller fluctuations won’t be something you’ll have to bother about.

Not sure about that. I have been day trading USDJPY when New york and London markets are open but not Tokyo. Roughly in the first 3 hours of the afternoon. Biggest pip movements on this pair can be seen in this time window. And tight spreads also. Other good currencies when New York businesses...