There is no guarantee of results in forex trading. Your results are an outcome of your strategy, trading capital, and your knowledge. You cannot put your money just anywhere and expect it to give you good results.
Trading for big returns
- Thread starter cadig
- Start date
Beginners should not focus on making profits, it is more important to protect the initial trading capital rather than focusing on making profits.
What timeframe charts do you like to trade?
Nobody asked but, I usually go with a 4-hour chart in the trading window, with the 5-day chart, showing the entire day, on a second screen, to keep where I am overall in the "big picture" within a session, since you don't want to be trading high after 1:30pm, when big sell downs occur.
Looking at only the 4-hour, you can forget whether you're high or low on the day's "mountain," an important thing to keep track of. It's also good to glance at the Dow day's chart every 15 minutes or so, since a lot of algos are tied in to follow the Dow. Some run counter, some don't follow the Dow at all, but most will track the Dow, some specifically, some generally.
There, I said it.
Happy trades!
Looking at only the 4-hour, you can forget whether you're high or low on the day's "mountain," an important thing to keep track of. It's also good to glance at the Dow day's chart every 15 minutes or so, since a lot of algos are tied in to follow the Dow. Some run counter, some don't follow the Dow at all, but most will track the Dow, some specifically, some generally.
There, I said it.
Happy trades!
Having goals is very good but also do not have any unrealistic expectations of making quick fat money from the market.
To thrive in the forex market, you must have a good experience and practise. In the beginning newbies should not only focus on the big returns but they should try to save the capital indulged in the trades so as to make their survival in the market.