24/09/2022
Here’s how to trade forex it’s fairly simple , with information they don’t tell you and charge thousands instead,
Just like in any form of work or business you will need to put in the time , patience and acquire a certain skillset to maximise consistency with your results.
For absolute beginners and for those that need refreshers , look up www.babypips.com and complete all the 358 courses there. I’ve seen people charge $2/3k for what’s available there. It is crucial to lay your foundations right so take your time , put in the focus and burn weekends going through with this although it’s free content it’s the best there is out there
After which you will need to have both fundamental and technical news and setups ,
For Fundamentals use :-
www.DailyFX.com
www.ForexFactory.com
Fundamental sites always have an economic calendar
1. Set the view to weekly
2. Set the importance to high
3. Check the Current against the Forecast
For Technicals use :-
www.TradingView.com
TradingView is the best charting tool
Here’s how to use it as a technical indicator:-
1. Search for the ticker that you are set on trading under “ ideas “
2. Compile the most recent / most popular 8-10 set ups given within the last few hours and mark down those in favour and those against your potential trade
3. For those against is where you can gauge your entry or SL
4. For those in favour is where you can adjust your TP/SL
By combining both fundamental and technical set ups in these short 7 steps which will take no longer than 20 minutes you will have a clear view on where the week is going and take smart trades
Use a 1:500 leverage broker , maximise and stretch your dollar with a straight ECN spread. I have been with many brokers ( ICMARKETS/SAXO ETC ) But my choice would be axitrader ( Register with the link below ) :
https://www.axi.com/int/live-account?promocode=4310746
How much should you start with ?
If you’re testing whether forex is for you $500 is a good amount to buy into 0.05-0.08 lots with the percentage gain as the former at 12% weekly
If you’re taking trading seriously $10,000.00 is a good amount to buy into 0.75-1 lot position aim for 18% weekly
JWCFX’s free signal channel provides 3-4 set ups weekly with a 80-85% win rate over a year with close to 1000 traders. The channel gives you signals to blindly follow :
https://t.me/accapitalsg
Feel free to contact me for any and all questions you may have and engage me for free consultations and market analysis
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