how to win trading forex. I look at macd and hv been losing $. and where to find economic indicator and how to know the time it will be updated and will it immediately affect the price fluaction immediately? tks
Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, even if you learn everything about forex trading indicators the market is just too random and unless risk is controlled, over time your account will slowly get wiped out, regardless how good a “trader” you think you are.
This question was about forex trading indicators and there have been some pretty good answers that should help in your trading, and especially in relation to forex trading indicators, the answer has been posted in the categories listed below:
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i believe you should look at the advantage of having a personal mentor and or consultant to discuss areas involving your trading techniques. you can get one in this site. you may open a mini account for a hundred bucks to start with and you will be provided a personal Account Service Manager with whom you can talk live over the phone, email or chat to answer all your technical questions, guide you in analysing trends using all kinds of indicators both technical and fundamental. if you want more trading features and privileges you may opt to open higher level accounts such as gold, platinum or vip, whichever fits your startup trading capital.
Try using a practice account at first, 50k are what most trade platforms offer. Don’t worry about losing it yet. get to know the trends and indicators they offer, they really do help. They will call you for sure to see if you want to open an account but try other platforms from other companies and get the feel for them on real time. A mini account is the best way to start for a novice. Learn to use your stop and limit orders to protect from losing too much and limit to protect from losing what you’ve gained. The MACD signal is an easy indicator for day trading, short ups or downs as the day goes on. If you catch a hundred pip move in your favor you’ll be making good money.
Good luck!
If you want to win or profit in your trading,you must follow this role :
comparing between supply and demand will determinant the price,don’t just price, you must consider sideways,trend and volume,I believe you will win in your trading