If we talk about technical aspects every pair has its own reasons to move. Sometimes same strategy works on different pairs but not all the time. But we try to use all the time. That's a mistake.

FX pair differences?

I agree that price is everything. There is so much in price and the way it moves. It always follows some pattern but not the same pattern all the time. With deep observation of a pair one can detect that.

Price is everything

Most new traders make one mistake. After few months of demo trading, they start to trader in live account. But before start trading in live account, a trader should have good understanding of trading psychology, emotions and risk management.

New to Trading and Forex

Yeah that's a great thing to do. Many times I make same mistakes. Keeping a journal can give us more understanding of our strategy and how we use the strategy. It's not the strategy but how we use it is a factor.

Do you record your trades?

To use an EA, one needs to know what strategy has been used to make the EA. You also need to know all the weakness and strength of that EA. In a nutshell you also should have good idea about EA. Otherwise it's nothing but blind trading.

Forex Robots

Yes but most people forget that it's a risky business. In a risky business they take more risk by opening big lot size and too many trades at a time. As a result they don't improve in trading.

Forex Basics

Online trading is designed in a way so that we need broker as medium. Without broker online trading is not possible. Even in offline trading you have to go to the bank.

Is it possible to trade the forex market without a broker?

Newbies will lose that's very normal. The real question is why after 1 years or more people still lose. The reason is the lack of understanding of market. People are more interested spending time to look for a holy grail than spending time to study ...

Why do Newbies Lose?

Yes practice makes a perfect. But for doing effective practice we need to study a lot and need to know what to practice how to practice. Learning the market mechanism is the key.

Practice

Yes lack of knowledge and skills and a trading mind set are the reason a trader lose money. People can waste time by running for strategy but not willing to give time study and research the market.

Why do Newbies Lose?

Yes I agree with you. Most EA works for a short period of time. Also to use an EA we need to know what strategy has been used and how that strategy works.

Forex Robots

Successful trading does not work like this. A system will work for you when you will be able to use it in your way. There is a deep relationship between our thinking and strategy. We can take others strategy and suggestion but can't borrow their ...

7 pips per day? is it possible?

That's why as a short term trader I always use stop loss. I don't keep open my trade for overnight. Using stop loss is an art. We need to have good idea of support and resistance levels and how price behave in that area.

The StopLoss...

Do not invest 10k by depending on an EA. EA is made based on a strategy. It works best with the strategy and EA maker. With changing market every strategy needs adjustment. If not strategy, at least you need adjust with your approach to the market.

I have 10k to invest in Forex - Any EA recommended?

Practice is important but for that we need knowledge. Real practice happens when we apply our knowledge in practical. For that we need to study and research a lot.

Is Forex reliable?

Profit targeting should be based on your ability. How much my ability is allowing me that's important. If I can predict a 20 pips movement that should be my profit target.

Pips or Profit Targeting

Yes knowledge, experience and skills are the primary criteria to get success in trading. Without them it's nothing but gambling and success is never gonna come ever.

Need some help about this forex

You are right. We need risk management system so that we can minimize our risk. Without proper risk management it's not possible to survive in the market. We need a good winning percentage and a sustainable risk management policy.

Need Risk money management advice - I have 85-80% winning Rate!

You need knowledge and capabilities to use that knowledge effectively. You also need a sound and composed mind that can remain emotionless while trading.

5 ways to trade forex

In trending market 100 pip trade can be easier but in ranging market it is quite difficult to a 100 pips move unless anyone take the moves from bottom or higher.

More than 100 pips