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Halfway through babypips course, I decided to open a demo account of £3000. Today I placed my first trade. I used EMAs and trend lines to analyse. Price looked like it was starting to reverse. I noticed my 10ema and 20ema were becoming close and a crossover was looking likely plus the price also broke resistance. Although I probably should have been more patient and allowed price to bounce and the crossover to happen I just wanted to place my first trade. I used a risk ratio of 3:1 and set my tp 30 pips above buy price and sl 10 pips below buy price. I used a lot size of 0.38 so I could only risk 1% of the account with a 10 pip stop loss. This was probably a fluke and my strategy wasn't thorough enough to predict the uptrend continuing but hey it was exciting to see my first trade hit tp. I think I could have modified my sl during the trade to make it risk-free whilst also altering the tp to continue riding the trend and maximise profits. However, I had a plan and stuck to it. let me know your thoughts :D https://preview.redd.it/jjcqx2qj4w351.png?width=1920&format=png&auto=webp&s=6f6c3de91391ca8f7e976be136ac42700194d493 https://preview.redd.it/diwa2y9p0w351.png?width=750&format=png&auto=webp&s=18f955a3d1255688e46b45fdd63343df4a9b9487
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Foreign currency exchange, the best game on the planet with every day exchanging volume of over a trillion and a half dollars (multiple times bigger than the volume of all the UAE value markets consolidated), has a lot of victors and for the most part washouts. Would you like to figure out how to be in the victor's circle? Like any game, it's critical to know the principles so as to win. You don't need to be an expert to enter the game, however, you ought to have a fundamental comprehension of the game and how it's played. A large portion of this can be gained for nothing from the online financier houses who likewise give you free exchanging programming so you can really work on playing the game and addition your certainty and abilities before plunking down your genuine money in the major classes. As in any game, the most significant activity is practice before you really play in the genuine game. I feel compelled to pressure that as much as possible. Practice, practice, careful discipline brings about promising results. The main thing it will cost you is your time. At the point when you think you're prepared to step on the playing field, start little. Most specialists will permit you to begin exchanging smaller than usual records with as meager as 300 dollars. Also, presently for what you've been sitting tight for, the key to succeeding at Forex. You have to have an exchanging procedure. As such you have to comprehend what to search for and how to exchange to bring in cash. Work out a fundamental strategy you hope to follow and never let your feelings impact your exchanges. Rule number one is never to hazard over 2% of your record balance on any one exchange. That way on the off chance that you have a dash of misfortune you won't clear out your record. Decide number two is that in the event that you have a string of five loses straight, quit exchanging genuine cash and return to demo exchanging until you have shown accomplishment for in any event seven days. At exactly that point do you return to exchanging with genuine cash? Rule number three is to utilize exacting exchanging decides that you adhere to regardless and don't exchange uncontrollably. On the off chance that you safeguard your capital from enormous dangers, you will permit it to develop consistently and reliably. Try not to attempt to rake in huge profits in a brief time frame and you can sensibly hope to develop your record by 10% every month or more. Make sure to mess around with it and get familiar with somewhat more every day. This could transform into a long-lasting proficient vocation. Wishing you achievement, #futureacademy
#Forex is more of a psychological endeavor than technical difficulties and so experts in forex often speak about the winning #mindset. Read more to know about the ways to handle your #stress. https://wetalktrade.com/7-best-ways-to-handle-trading-stress/
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My biggest win so far. I recently got into forex and i feel like maybe im being way too risky with the amount im using but have had way more wins than loses. Ive been using tradingview but would like some advice
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