Forex trading is not gambling

[Rufino Fiorentini]

Forex trading is not gambling. However, many traders gamble in the market and lose money. So, try to learn the proper way of trading first. Nowadays, many brokers offer free educational resources to their traders. In order to survive in Forex trading, traders also need to learn proper money and risk management.

 

[hitch]

Forex trading is not gambling. However, many traders gamble in the market and lose money. So, try to learn the proper way of trading first. Nowadays, many brokers offer free educational resources to their traders. In order to survive in Forex trading, traders also need to learn proper money and risk management.

This is exactly why 95% of traders fail. I also blame youtube!
Youtubers make it appear as if all you have to do is XYZ and BAM you flipped another account. It's actually a shame. I used to watch a lot of youtubers but lately, I've grown tired of the same old garbage... i mean not every channel is bad, but 95% are horrible. Anyway, sorry for the rant!


My advice to any new trader
1) Get off the lower time frames
2) Trade H1 and above, don't even look below the H1, not even for entries
3) TRADE WITH THE DAMN TREND! The only trend line you need is the 200EMA... when price is trending above, look for buys, when price is trending below look for sells

I mean really, trading is THAT easy

 

[Sheldon.D]

Good points Hitch, I agree with you as well that many traders, mostly beginners think that forex is like gambling, but with the right forex knowledge and strategy, it is possible to make consistent profits.

 

[Godwin Bupo]

This is exactly why 95% of traders fail. I also blame youtube!
Youtubers make it appear as if all you have to do is XYZ and BAM you flipped another account. It's actually a shame. I used to watch a lot of youtubers but lately, I've grown tired of the same old garbage... i mean not every channel is bad, but 95% are horrible. Anyway, sorry for the rant!


My advice to any new trader
1) Get off the lower time frames
2) Trade H1 and above, don't even look below the H1, not even for entries
3) TRADE WITH THE DAMN TREND! The only trend line you need is the 200EMA... when price is trending above, look for buys, when price is trending below look for sells

I mean really, trading is THAT easy

Really nice to hear this. I have watched some Youtube videos and really, it is tiring. I like your analysis, but may I ask you to explain why trading Higher time frames is better.