Hello Everyone.

FTMO Trader Scouting

Mayne

New Member
First, I'm glad to have found this place. Second...when it comes to Forex and all things related I'm as green as Bullish Candles (Mine anyway...) so I will be trying my best to learn as much as I can.

A little about myself and why I decided on Forex. (I won't be long...promise.)

I'm a husband and a father of 3. I've always been interested in currency (not the numbers part, but the volatility of it and how it could be interpreted, and then capitalized upon.) After years of chasing passions, I decided it's time to learn this skill set and use that potential to chase my passions in time. It's not a matter of "If", but " When".

I do tend to lurk, it's just part of my learning process. However, I respond as soon as I can if reached out to. I will ask questions as I see fit and do my due diligence, to not come off as someone looking for a free meal. I want to learn how to fish.

I'll end this post like this: Take care of each other. We're all we've got. ✌
 

Pezza

Member
Hi, what a great intro. Good for you trying to get involved in the markets. Give yourself time to learn, too many people put themselves under too much pressure to make money quickly. It takes time to learn it all properly. Also, use a demo account at the beginning, it's a great way to learn without the financial risk. Good luck out there
 

ddb1975

Member
I would even say paper trade your results for 3 to 6 months! If you are going to start with a demo, please be as realistic as you can. Don't start with an insane amount. You have to think of it like this, "Am I willing to give a broker $10,000 as a beginner?" I think not. Start small and incremental.
 

sebking1986

Well-Known Member
I would even say paper trade your results for 3 to 6 months! If you are going to start with a demo, please be as realistic as you can. Don't start with an insane amount. You have to think of it like this, "Am I willing to give a broker $10,000 as a beginner?" I think not. Start small and incremental.
So important to treat a demo as close to you would a live account as you can. It helps create good habits going forward.
 

ddb1975

Member
Hello all!

Happy New Year! I know...a day late dollar short! So, how's the forex trading journey? For me, it's nothing but good experiences. I paper traded for the month of Dec 2021 and I did pretty good. Overall, I paper traded 20 trades with a 65% win rate (13 wins/7 losses). I am only trading one pair! Today, I just started demo trading with ICMarkets! I mark up my charts on TradingView, then I execute the trade on ICMarkets. Please share your experiences. We are here to learn and grow!
 

ddb1975

Member
Hey guys and girls!

Did you know that when the US dollar is increasing in price (risk - off) from the Dollar Index, the foreign currency is dropping in price? And the same goes, when the dollar is decreasing in price (risk - on), foreign currency is increasing.
 

gon

Active Member
Hey guys and girls!

Did you know that when the US dollar is increasing in price (risk - off) from the Dollar Index, the foreign currency is dropping in price? And the same goes, when the dollar is decreasing in price (risk - on), foreign currency is increasing.

The dollar index is just the weighted average of the major forex currencies.

So if it moves up, it means dollar is more expensive and foreign currencies cheaper.

However, banks manipulate this and you can see DXY moving up and almost every foreign currency moving up too and being that compensated through the crosses.

So it is not as easy at it may look like.
 

gon

Active Member
Hello all!

Happy New Year! I know...a day late dollar short! So, how's the forex trading journey? For me, it's nothing but good experiences. I paper traded for the month of Dec 2021 and I did pretty good. Overall, I paper traded 20 trades with a 65% win rate (13 wins/7 losses). I am only trading one pair! Today, I just started demo trading with ICMarkets! I mark up my charts on TradingView, then I execute the trade on ICMarkets. Please share your experiences. We are here to learn and grow!

Assets eventually change their behavior.

Even if it is ok if you only trade one pair, be aware that no pair has a specific way of moving.

I mean that if you understand EURUSD but do not understand GBPUSD is because you still need to work on more.

Just an advice.
 

sharabela

Member
You are most welcome to the Forex community. Since you have been in this market for a month, you may concentrate on learning and demo trading rather than trading live. Invest your time before investing money. I am wishing you all luck.
 
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