Forex common mistakes

Discussion in 'Forex' started by Franziskaschulz, May 6, 2023.

  1. Andrew34

    Andrew34

    Good picks! So which one is easier to trade or depends upon the market mood?
     
    #41     Dec 19, 2024
  2. shine

    shine

    It all depends on your approach to trading. For example, EURUSD likes to often move in ranges and in my opinion it is convenient to trade it intraday, and USDJPY is a more trendy pair and it is good to trade it when you are doing medium-term or long-term trading, holding your trades in the direction of the trend for a long time.
     
    #42     Dec 19, 2024
  3. Andrew34

    Andrew34

    I feel the same each pair has its won personality- Do you stick to your strategy often or to a core approach?
     
    #43     Dec 20, 2024
    shine likes this.
  4. shine

    shine

    And why develop your trading strategy with certain rules and conditions if you do not stick to it? Another thing is that any trading strategy can give some losses and incorrect entries even if you disciplinedly adhere to all its rules, but here everything is decided by risk management to minimize these losses.
     
    #44     Dec 20, 2024
  5. Andrew34

    Andrew34

    I completely agree! Sticking to rules are must but I feel refining risk management par is where real edge comes. So What's the approach?
     
    #45     Dec 23, 2024
  6. shine

    shine

    My approach to risk compliance is to trade adequate lots in trades, calculated according to risk management rules and mandatory stop-losses in trades. Also, to comply with non-trading risks, I chose more reliable brokers with regulation and a long term of work, choosing fxopen and exness.
     
    #46     Jan 14, 2025