So after my last post I had a lot of you guys message me for tips on how to get started with Forex, well its very simple once you start to understand it.
My most useful tips would be to keep it simple, don't overload your charts with indicators just because you watched 4 different Youtuber's use 5 different indicators doesn't mean you should add them all to your chart. Here are my tips:
- Keep Your Charts Clear. As Easy To Read As Possible.
- Use Only The Indicators You Are Most Comfortable Using.
- Backtest Your Strategies.
- Look At Candle Patterns.
- Watch Price Action Carefully.
With these tips, it shouldn't be hard for you to make profit. With those tips alone I had my first profitable trading month, in my first month of trading. That profit too was in 3 digits. If i can do it, why cant you?
Nevertheless here we have USD/CAD, judging by the fact its failed to breakthrough the support at 1.35000 we can only assume that it will be going upwards. I've put my take profit up at 1.37349 (217 Pips). I can see price going towards this region or coming close to it for a manual exit. Let me know what you guys think.
Let me know if any of the above was useful or if there are any other tips you'd suggest! :) Good Luck Trading!
My most useful tips would be to keep it simple, don't overload your charts with indicators just because you watched 4 different Youtuber's use 5 different indicators doesn't mean you should add them all to your chart. Here are my tips:
- Keep Your Charts Clear. As Easy To Read As Possible.
- Use Only The Indicators You Are Most Comfortable Using.
- Backtest Your Strategies.
- Look At Candle Patterns.
- Watch Price Action Carefully.
With these tips, it shouldn't be hard for you to make profit. With those tips alone I had my first profitable trading month, in my first month of trading. That profit too was in 3 digits. If i can do it, why cant you?
Nevertheless here we have USD/CAD, judging by the fact its failed to breakthrough the support at 1.35000 we can only assume that it will be going upwards. I've put my take profit up at 1.37349 (217 Pips). I can see price going towards this region or coming close to it for a manual exit. Let me know what you guys think.
Let me know if any of the above was useful or if there are any other tips you'd suggest! :) Good Luck Trading!