Old strategies often fail to work.
If you want to stay profitable, you need to be prepared to update and adjust yours.
Market conditions are changing and old strategies are no longer sustainable.
Of course, some of these simple strategies are designed for various market states, but they also have many parameters that need to be optimized for certain conditions.
A real customer experience is different from a presentation.
While the demo account transactions are almost identical to the real account transactions, there are a few caveats.
First, there is little emotion involved in demo trading because you are not risking live money.
Second, while presentation trades are usually executed smoothly across all brokers, real trades can be quite poor, especially during periods of heightened market volatility (whenever there is an important news release or overnight filing).
The broker scam.
Unfortunately, not all forex brokers are honest and there are scams and scams.
Suspected fraudulent brokers mean all sorts of problems for their clients: from positive slippage and artificial market peaks to outright theft of deposit or profit funds.
Novice traders need to avoid the unknown and choose reputable companies.
Too little knowledge.
Trading without theoretical and practical knowledge will inevitably lose money, and experience comes from trading and learning.
Practice in demo trading to learn new foreign exchange knowledge;
If a deal doesn’t work the way you want it to, try to figure out why it doesn’t work.
Too much trading.
Be cautious in your dealings.
Don’t open your next position just because you just closed a profitable one.
And do not open a new position to make up for the loss of the previous position.
Simply put: Don’t trade when your thoughts or emotions are driving you. Trade on the market.
Paid foreign exchange strategy.
They charge a lot, but they’re not as effective as the ads promise, and they don’t directly make you profitable.
What’s more, there are plenty of free strategies and expert advisers on the Internet.
Search for the Holy Grail of FX.
This is a waste of time and energy.
The ideal trading system works perfectly in all situations and in all market conditions, but it does not exist.
You are the Holy Grail, which is the idea that spending your time and attention on personal qualities can help you get better results in a trade than a futile one.
In short, be cautious, steady and serious in your work, and you will be rewarded.
The dollar neared the 98 mark, the euro hit a near 22-month low, focus on the non-farm report.
Please pay attention to the specific operation, the market is changing rapidly, investment needs to be cautious, the operation strategy is for reference only.