Yes 21 and 75 works better and whenever it is below 30 levels you can always BUY and above 70 levels you can always SELL and wait and it should give you some good and positive results .
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Yes 21 and 75 works better and whenever it is below 30 levels you can always BUY and above 70 levels you can always SELL and wait and it should give you some good and positive results .
Hedging requires great deal of knowledge and accuracy as it leads to double losses most of the times as markets swing in both the directions. Stop loss is a better tool as compared to Hedging and one can be saved of big losses in case markets go opposite for huge number of pips .
---------- Post added at 12:48 PM ---------- Previous post was at 12:23 PM ----------
Hedging should be done once in a blue moon if the trend of the markets is not clear and still one needs to close one trade and decide which one to continue with and still markets can reverse and lead to double losses. Stop loss reduces your risks and should be placed to all the trades .
To make forex as our living we need to be professional traders and to do so it requires a lot of hard work and efforts and first we need to start as part time traders and slowly try to make consistent and regular profits and then improve our trading and become successful trader with time and experience .
---------- Post added at 12:51 PM ---------- Previous post was at 12:40 PM ----------
To make forex as your living you need to first begin as part time trader and achieve consistent and regular profits and once that is done then you can focus to trade more and become a professional trader and make forex as your living .
As a newbie you need to learn about the markets and this trade and then form a trading plan and practice in demo account and look for any changes or flaws and then correct them there and try to master it and not get confused among different strategies .
Forex is gaining more and more popularity each day with more and more traders joining it so in future as long as world will exist forex will see a sharp rise and hence there is no chances of it ending at al
As a beginner a trader should not invest their own money and try to post in different forums and accumulate trading funds as it might help them to learn forex and also generate funds which he can use for trading and can make profits with the same .
---------- Post added at 12:56 PM ---------- Previous post was at 12:46 PM ----------
I agree with you completely and since a trader is new in this trade and risk is there so a trader should trade with less capital and low lot size to reduce their risk and try to aim for consistent profits for the first few months of his trading .
If you do not study or analyze the markets and then trade then anytime you perform your trade is the worst time to trade as you need to trade with proper analysis and study otherwise you will loose most of times .
It is true that the leverage to be used depends on each individual trader and his trading style. Although I feel that the traders with small capital must use higher leverage as it will enhance their trading capacity .
If a trader is new in the markets he is not sure that he will be able to make regular profits and become a successful trader so he must trade part time and learn it and take it step by step and make consistent profits and once he is successful doing so he can think to become a full time trader
It is not only about free money in the form of prize which a trader can make by winning a contest but also he can judge his performance and see where he stands in the competition as compared to other traders from different parts of the world and also see his mistakes and drawbacks and then work on them as well .