If I am not wrong then GBPCHF has a very high spread. I do not keep track of that pair but I would not choose it anyways. Specially after what SNB did last year to mankind.
One needs to do lots of trials and errors to develop a sound trading plan. Being profitable won't happen in one day. So one also needs to have patience.
Slow and steady profit is better than quick loss. Our objective is to make money with forex trading and if one can earn slowly then there is nothign wrong with it.
@gabanda, Nobody said it would be easy. Achieve something great was never easy. Otherwise everyone would go for it. It is a very challenging profession and one needs to work on it very hard for long term profits.
Broker promotions won't make one successful. To be successful a trader needs to make consistent profit. Bonus is just an attraction so don't get too attached to it.
Using low leverage will make one uncomfortable lol. Because then one also has to calculate margin. With high leverage one does not need to calculate margin because it is very low and if risk is maintained then it will give little peace.
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The problem with economic data is they come few seconds later. This is a disadvantage for retail news traders. And high frequency traders take full advantage of it.