So, what will be your ultimate target in this case? I see, you have mentioned here an initial trading target, so what do you think? Will the trend change permanently? I mean, it’s a scalping or swing trading opportunity?
To be honest, my 1st 2 years trading experience is very bad! Since I hadn’t any trainer so, I faced so many problems in there! By the way, now I am enjoying my live trading! I seem, Forex trading business is always challenging! It’s not an easy way of money making.
The trading strategy is very important, I see all of the pro traders are making money without any panic because they are trading with a particular trading strategy or system! But it’s not easy to make a profitable trading system or strategy.
No doubt, timing is very much important issue here! By the way, I am doing my live trading according to my trading plan, so I don’t open multiple trades position in a time, whatever good opportunity it is! As a result, now I don’t face huge losses in my trading.
I see, many brokers don’t allow scalping trading! Scalpers should avoid this kind of broker! I think, the low trading spread is a very important facility for the scalpers since they are trading with tight trading targets like 15-25 pips.
Scalping is, one of the most popular short-term trading styles in Forex! A number of new Forex traders start their trading life with this trading style, it’s relatively risk-free trading style than others! When I do scalping, then I set my SL for 15-20 pips.
Well, among all of sessions London session is my most favorite one because of high volatility! I see, maximum trading points in that popular session! But, that doesn’t mean I avoid others trading session! In my trading, I use all of trading sessions to trade.
Yes, before starting my live trading, I participated in demo contest! Although, there was no prize to me, but I was so serious about that competition! I see traders were using heavy trading lots size in competition, but I was not!
It’s a clean uptrend according to the daily trading chart! Right now, I am waiting to buy CAD/JPY at the low price! BY the way, I liked your descriptions on this major trading instrument! Good job.
I don’t care actually! Because, Forex trading is my profession. I trade silently, even I am not involved any trading community in my country. So I have no fear!
No way, I see maximum non-regulated brokers are scam! They are involved with blocking traders account after making handsome money from this financial market. So, I prefer only high regulated Forex broker whatever ECN or STP it is.
I see, many traders are trading with a high risk reward ratio (more than 5%)! According to me, it is called overconfidence. Listen, there is no certainty or guarantee! So, traders should use low risk reward ratio like 1-2%. Pro traders follow money management so honestly.
I don’t prefer copy trading to a new Forex trader! Because, it’s not anything like the permanent solution, for me manual trading is much better than automatic trading services! So, new traders should concentrate on the demo.
The traders, who are following money management in their trading! Of course, they wouldn’t face any unbearable losses in their trading! Money management knowledge is very important here!
The Binary Options market is too uncertain! That’s the main problem! For trading, I rely on the only Forex! Forex market is much flexible than options and others sector of trading like stock! I get enough financial freedom through Forex market.
According to the daily chart, clearly, it’s a bullish trend! Here, I am also waiting for buy trade. Maybe on upcoming Monday, I am going to open a new buy trade if I don’t see any initial interest from the sellers.
No, I have no idea about this guy! Basically, in my trading, I use my personal trading strategy that provides me 10% monthly return in average! Besides, I am trying hard to increase it’s success ratio by practicing in the demo.
Trading is all about the mental game; so take care about my mental condition with my health! On the other hand, I don’t open any new trade position when I am not 100% okay in mentally or physically.
Basically, pro traders are confident in their trading! On the other hand, fear is one of the most common problems for the new Forex traders! Yes, I was also involved with that issue but I am not! Because I have already spent here more than 2 years!
Good analysis! I am also with the buy momentum! Although last this week we got very small buy movements according to our expectations; hope in upcoming week we’ll get more buy pressure here!