New trader confused

7Bulletin

Corporal
Messages
118
Different timeframes have different characteristics. On a monthly chart you may have a doji candle which means price was the same for open and close of the candle. But during that 1 month, how much movement did we have on hourly chart? A LOT, many ups and downs. Filtering trades based on other timeframes can be good as long as these timeframes are closed to each other like H1 and H4, not MN1 and H1 which are very different. You can find a good entry on lower timeframe and filter it based on higher timeframe for pinpointing a better entry point.
 

dextor

Private, 1st Class
Messages
57
"New trader confused"
yes it's true. All new trader confused which currency pair will be best for him. It's common issue and big challenge that most people face but no need to worry. Play well and keep patience. Educate yourself about golden rules for being successful in Forex Trading.
 

Purekiller

Recruit
Messages
82
Don't use a lot of them in the same time cause they will confuse you a lot. You better tell us for how long you actually trade and for how long you are using that real live account after demo account or something like that anyway. Do you ?
 

bigdolly

Sergeant Major
Messages
939
Don't use a lot of them in the same time cause they will confuse you a lot. You better tell us for how long you actually trade and for how long you are using that real live account after demo account or something like that anyway. Do you ?
Great advice. Btw how long have you been using your demo account?
 

dextor

Private, 1st Class
Messages
57
Great advice. Btw how long have you been using your demo account?
It's totally depends on your knowledge and experience. You can switch from Demo Trading account to Real account whenever you think you have sufficient understanding and undergo that Forex entail. It can be 6 month or one year or less.
 

georgequayle

Recruit
Messages
147
I just started trading
i m using some indicators together to guide me
MA5
MA200 for trend
Pro parabolic
Macd

Frame 1 H 4 H and 30 M

some times time frames gives me different direction
i m following the trend but i lose much points

can some one explain to me or guide me
Theres a forex academy on this site that you can use
 

Anthony23

Recruit
Messages
86
I agree with Dextor. I also think that new traders should not rush into real account. It is better to take your time on demo account and gain enough confidence in your trading strategy and skills
 

Albert Dcosta

Private, 1st Class
Messages
60
You can switch to live account any time there is no time limit to do real trading. Our first focus should be to become a practiced trader. Much time invested on demo will value our trading. Many confusions of new traders will removed by doing practice on demo using different ways. He can do as much experiments to solve many initial problems .
 
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