BIG PROFIT AND LOSS - Trading 212 Forex Trading #50

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Comments

1. What technical indicators are you using to base your trades on? To me, it looks like you're just putting on trades because it 'looks right' kinda thing.... I also don't know how you dare place trades on FOREX for days at a time - normally those markets are so volatile and they are so sensitive to move to data releases that it's almost impossible to predict where they will be at days in advance.
   Not hating by the way, I like what you're doing. But coming from someone who uses trading 212 real account; let me give you some tips.
   No.1 definitely use RSI when trading data releases, really helps identify the turning points of the price.
   No.2 try using the candle-stick chart, it takes a couple hours to get used to but after that, it is SO much easier to analyse.
   No.3 Get a squawk (I have livesquawk) it gives you market data on the second it is released so you have quite an advantage.
   No.4 Try trading fundamentals such as quarterly and yearly company results
   No.5 ALWAYS research and make on your charts the support and resistance levels and the pivot level so you know where the market is in relation to how strong/weak it could go.
   No.6 last but not least PUT ON SL AND TP levels!!!!!!!!!!!!!!!!
   
   Honestly, I've been trading about a year now and I was just like you, but if you do those things i guarantee you will minimise your losses. I'm not saying you won't make losses because you will. Everybody does, but you will see you account improve massively!
2. Nice