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Halfway through babypips course, I decided to open a demo account of £3000. Today I placed my first trade. I used EMAs and trend lines to analyse. Price looked like it was starting to reverse. I noticed my 10ema and 20ema were becoming close and a crossover was looking likely plus the price also broke resistance. Although I probably should have been more patient and allowed price to bounce and the crossover to happen I just wanted to place my first trade. I used a risk ratio of 3:1 and set my tp 30 pips above buy price and sl 10 pips below buy price. I used a lot size of 0.38 so I could only risk 1% of the account with a 10 pip stop loss. This was probably a fluke and my strategy wasn't thorough enough to predict the uptrend continuing but hey it was exciting to see my first trade hit tp. I think I could have modified my sl during the trade to make it risk-free whilst also altering the tp to continue riding the trend and maximise profits. However, I had a plan and stuck to it. let me know your thoughts :D https://preview.redd.it/jjcqx2qj4w351.png?width=1920&format=png&auto=webp&s=6f6c3de91391ca8f7e976be136ac42700194d493 https://preview.redd.it/diwa2y9p0w351.png?width=750&format=png&auto=webp&s=18f955a3d1255688e46b45fdd63343df4a9b9487
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My biggest win so far. I recently got into forex and i feel like maybe im being way too risky with the amount im using but have had way more wins than loses. Ive been using tradingview but would like some advice
Every forex trader, an experienced one or a beginner who is keen to learn about forex, would like to know how to be profitable every day.To understand how to close every open position with a profit. How to win at forex every time is a question worth millions.. What you mean by “every time” You can win the contest without forking out your hard-earned money. It is a great way to learn about forex trading without risking any money. At the same time, you can win some real money. A forex demo contest is somewhat similar to virtual trading. In a contest like this, there is usually no entry fee. ForexWinners.net is a proudly non-profit website. Our goal is Sharing knowledge to help forex traders to do well in the market. Everything here is for free and will be always for free. We aren’t looking for any earnings from that website FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. 3. Does this Forex trading strategy suit you? Here’s the breakdown: Most trading strategies will fall into 1 of 2 categories: A high win rate with low reward to risk; A low win rate with high reward to risk; So, which approach is better? Well, in terms of profitability both approaches can work because it depends on your win rate and risk to ...
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