[jess82]

Hi everyone, I’m just learning how to invest in the Forex market.
All your advices would be appreciated, which currency to trade today?
Jess

[ExecutiveIncome]

If you want to make real money in forex, be sure to stay up on the market & try a signal service. Good luck

[uulwyn]

http://www.forexpeacearmy.com/public...xautomoney.com

Slates forexautomoney in your signature!!!!

[FOREXSIGNAL]

I am trading for since 6 years and still making losses.Yesterday I got 383 pips in eur/us but loss in eur/gbp 83 pips.

As you know pips x10 is almost the usd.I have got 3830 usd and loss 830 usd in only just one days trading!

[getoverit]

Yes, but you gained $3000.00 so I think you can say you had a very good day.

[getoverit]

Originally Posted by jess82

Hi everyone, I’m just learning how to invest in the Forex market.
All your advices would be appreciated, which currency to trade today?
Jess

Hi Jess,
Don't listen to the signal provider people. They want to make their money from you , not trading for themselves.

Use your practice account to find a good chart set up that works for your style of trading. Your style depends on your time you have to trade each day. If you can spend enough time in front of your PC then you can just scalp and take small pip profits like maybe 10 at a time.

What happens with your practice account won't be a fact when you go the same way on a live account. Your practice account does not effect the real market. But anything you do in the real market will have a reaction.

That's why people can do so good on a practice account and then lose their rears in a live account.

Daily pip ranges on any pair will average around 100 to 200 pips from it's bottom of the day to it's top. This is the range area you have to trade in.

Your job is to figure out where the bottom is and the top, support and resistance. If you think the price is at the bottom and will go back toward it's top then you buy at the bottom but only target a portion of it's value at the top.

Pay attention to what has beeen going on the past 30 days. Is it trending up or down? Or is going sideways?

You can draw a trendine across the tops and the bottoms. These should be fairly parallel to each other. This creates a nice picture of the supports and resistances of that pair and you can see where the new tops and bottoms should be. Buy at the bottom and sell at the top, mentally set your stop/loss above or below these trend lines. Because if the price breaks across the trend lines then a new direction is being created and you'll have to reset your lines accordingly.

Target only 20 to 40 pips at a time. The closer to a top or bottom the riskier a trade will become trying to go in that direction , so wait till it reaches one or the other and wait for the next candle to see if it will break the trend line or bounce back the other way.

Enjoy,
getoverit