Recent content by John Bozeman

The majority of 1 and 2 bar candlestick pattern meanings are myths. Candlestick patterns working in all time frames in all markets- MYTH. In fact, most candlestick patterns mean the OPPOSITE of what they are supposed to mean in the FOREX market, but they aren't very profitable even going...

I agree with Cyclon (for the most part). I rarely (if ever) base trades off of candlestick patterns. I've backtested PLENTY of candlestick formations in plenty of different time frames and the results are almost always the same- 50% of the time the market becomes bullish after the candlestick...

There's one review for this on FPA already Magic Fx Robot | MagicFxRobot.com reviews and ratings by Forex Peace Army

I'm still not sure what caused it either, I know I lost my fair share in the EUR/USD today though.

Money Management should be one of your top priorities as a trader. I recently switched from Fixed Fractional to Fixed Ratio and it has helped me a tremendous amount in knowing what lot size I should be using for each trade and each account size. You should look into anti-martingale money...

"There are ten financial institutions that account for almost 73% of the total Forex trading market volume. These top ten most active traders are the Deutsche Bank (17.0%), UBS (12.5%), Citigroup (7.5%), HSBC (6.4%), Barclays (5.9%), Merrill Lynch (5.7%), J.P. Morgan Chase (5.3%), Goldman Sachs...

If you are going to have a broker out of the country in which you reside, be sure to study the tax laws concerning this. It's easier to beat the system if you study up :-)

In a very simple nutshell, You go "long" if you think the price is going to go up. You go "short" if you think the price is going to go down. Others may want to give you a very detailed answer, but that is the basic summary.

I do not use bots, but PLEASE be sure to fully research the one you are using before you go live. The research will be entirely worth it as it could save you your account.

Also, READ the Terms of Agreement and triple-check their refund policy.

Always look for the bad news about a broker before the good news. Use negative key words in Google so you can view issues people have had with a broker. Look for the good, the bad, and the ugly. Remember that most traders blame the broker no matter what, so be able to sift through the bs that...

Oh, and have stops/limits stored on your server, not just assume we like keeping our platform running 24/7.

Low, fixed spreads with stops that aren't hunted. Traders want a fair game.

Also, you should look through various examples of other trader's support and resistance levels on charts so you can get a better feel.

You pretty much have to draw on your own support and resistance- meaning that it is subjective. Google something like "Trading Support and Resistance" and you should get plenty of results. Most charting platforms offer this tool.