To trade Forex effectively, focus on a strategy combining technical analysis (like moving averages, RSI, and support/resistance levels) with risk management. Set clear stop-losses and take-profits, trade with a well-defined plan, and maintain discipline. Continuously evaluate market conditions and stay informed about economic events affecting currencies.
I think the same. For me, combining tools like RSI has been super helpful. But honestly, sticking to my plan with proper risk management is what really keep my things steady. Also, I stay updated on economic news to keep myself updated.
Also, beginners should not forget to test any trading strategy or indicators first on a demo account. It is no secret that many indicators lag and repaint, showing good results only on the history of the chart in the terminal, in real trading they can give much worse results.