In 2016 alone over 250,000 traders read over 18,500 forex broker reviews from our database and added almost 2,500 new ones. Combined with our investigations, traders court activity, and early scam alert warnings we are aware of many forex brokers that are likely to be stealing traders money right now. 2 world’s best forex market gold news in hong Jarratt Davis, famous forex educator Andrew Mitchem, European professional banker Sive Morten post their exclusive market analytics.
We maintain Real Money forward tests for commercially available metatrader expert advisors, forex signals, and forex managed accounts. It’s free and it helps to expose the scams, so other traders don’t fall in their traps. Forex Peace Army Services are FREEWe make money by displaying the advertisements, but we do not endorse any advertised product or service. Please make sure to read our reviews before giving your money to any company. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. We are committed to the fair handling of reviews and posts regardless of such relations.
All rights reserved under US and international law. The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. The following 10 forex trading tips are things that I wish someone had told me when I first began trading. Learn the basics first Many beginning traders try jumping right into the market with no real background knowledge on the markets they are trading. Learn one trading strategy, stick with it.
One of the biggest mistakes I see beginning traders make again and again, is changing trading methods too often. If you are using a logical, common sense trading method like my price action method, you need to really learn it and master it before you do anything else. Also, don’t switch methods just because you had a few losing trades. Any method will have a certain amount of losers over a sample size of trades, this is normal and part of trading. Don’t get overwhelmed It’s easy to feel overwhelmed with information and trading strategies as a beginning trader, it happens to all of us in the beginning. The best way to limit this or avoid it altogether, is to find a mentor, someone to learn from, and piggy back off their success. Don’t freak out when a trade moves against you This one is big, because most traders, especially beginners, freak out or over-react at the first sign of a trade moving against them.
This is much more of a problem in live trading than demo trading, due to the differences in emotion between them, but it is a problem and it needs to be addressed. A trade moving against you is NORMAL. I’ve had trades move to within 5 pips of my stop loss and go on to be HUGE winners after that. If I had freaked out and closed them out before they hit my stop loss, I would have not only lost money, but I would have lost a lot of profit too.