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Keep an eye on each of your trades every day because you cannot overlook risk. Make use of your demo account to practice a strategy over and over again. It is not about knowing everything but implementing one strategy that gets you results. Oanda and XM are trustworthy but that doesn't mean they...

Beware when trading using EA, any glitch in the server and there goes your profit. Also, it’s just the trending market when EA's work fine. In case it goes sideways, they aren’t as effective as they say they are.

I understand taxation is the major concern for traders but me being an American, I’ve realized that the taxes were either eliminated or sometimes minimized. This at least made me get my trading profits.

That’s unfortunate! But it’s okay because these bad experiences would have surely taught you not to believe everything you see or hear. What I suggest is creating micro accounts with one or two brokers at a time and comparing your experience with them. You will find what you need.

I believe so. As of now, it’s 127.48 like you said and will go up till 130.92.

Of course there is. If the market’s quiet, a 50 pip stop can be a large move, while if the market’s volatile, this much stop can be quite a small move.

Yeah the low spreads add up to the end-of-day profits.

Exactly. What traders don’t understand is that setting a 5% stop-loss order on a stock that comes with a history of nearly or more than 10% a week fluctuations won’t be one of the best strategies. Leave aside making money; you'd rather end up losing money on the commissions from executing the...

yeah it’s variable for forex and changes when the bid and ask price of the currency changes. But I believe Indices have fixed spreads.

Yep and that’s the reason I’m kind of satisfied with forex. Not very adventurous here but I’m happy that the brokers I trade with like octafx and fxview will sense the change in the market trend and adjust the positions to buffer the liquidity.

If your trading strategies are well-defined, I don’t think the type of spread you opt would matter or affect your profit.

Not much of a math. Just calculate the difference between the buy and sell price of the pips. Or subtract the bid price from the ask price.

Anyone trading here with floating spreads? I switched recently and yet to decide which is better - fixed or variable.

So the first thing you can do after opening the chart is to draw the primary support and resistance levels that includes the trend lines, horizontal areas, and patterns including the ascending and descending channels. I would suggest you to practice and polish your skills with the demo accounts...

EURUSD is still the way to go

I think what medium is suitable would depend on personal perspective and also what is to be learnt. If we talk about price action trading, it does take a lot of time to master the approach. I would rather suggest to open the chart, try to look for common chart patterns, distinguish the...

That entirely depends on your experience and how you like to trade. If you are comfortable with using one strategy that is profitable, you can easily stick to it for all your trades. But if you want to keep experimenting with different ones, that is also great.

Clearly Forex trading is better and safer than trading crypto currencies despite many saying that the latter generates better results in terms of profits. As far as the 1:30 leverage ratio is concerned, I wonder what’s the problem with that? There are professional and experienced traders who...

I did try using the MT5 platform since there was so much said about the technological advancements, but I found myself going back to MT4 simply because it’s just so convenient. I have been able to make some good deals and profits because of the ease of use.

Not to forget using the stop-loss that can be a time-based strategy and then back-testing the results using the MT4 platform. My brokers helped me out when I started trading on their platform.