when it comes to forex trading the best currency pair I love trading is the Gold vs Dollars which is written as XAUUSD. this currency pair is highly volatile but it is very easy to predict the market especially with the Support and Resistance that i have been using to predict the market movement of price alongside with other indicators.
A big recap to my forex trading yesterday and the amount i gain in the market with 0.05 lot size.
After seeing a strong verified resistance (with the red color above, i was able to know that the price will not go up and there is high tendency for the price to come down. Meaning this is a bearish market
Also going by the indicator below the market showed that the price of Gold will fall and also the strong red arrow above shows that the market is downward market and this made me to take good advantage of it by going for a sell option.
After entering the market BOOM it was a profit. Before this period when the market has the tendency of being bullish i also enter the trade. Because as a trader you must learn to trade according to trend.
Many belief forex can be so difficult but it is easy and safe when all necessary conditions to trade are available.
Thank you.
#tradewisely
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STOPGreat giving a quick review on how you trade on the foreign exchange market and decent profit you earned your trade as shared.
As a newbie with the intention of getting into the forex, what must one know before entering and what tutorial could help in aiding quick learning?
Good question. As a newbie you need to know the basic fundamentals of trading how to trade, when to trade, and lot more.. i can help with a video on how to do this though.
I have always love watching video tutorial. It helps me assimilate a lot faster. I don't mind you sharing it with me or putting a safe link where I can go download it. Will be expecting it. Thanks in anticipation
i will try to share a video i have with me that i feel it can really help.
thanks for your request
nice analysis mate, you did a great work there and i must tell you GOLD trade is cool but quite risky.
i hope will be more careful not to make wrong call in the market to avoid a deep loss.
though seeing the lot size you used in trading or entering the trading call it seems you have a lot of capital to hold 0.05 lot size in trading gold.
I will suggest you trade to be on a safer side i don't know how good you are in the market but i suggest you reduce your lot size when trading gold.
thank you.
Posted Using LeoFinance Beta
with $100 you can trade using this lot size with $40 free margin left for trading
From the screenshot above it seems your major indicator is the MACD,i want to know,does the indicator lag??and what is the best time-frame at which the indicator works best??
no. it is a special indicator which i purchased online. but works just like MACD.
it doesnt really lag though it is hard to find a perfect indicator that will be timely and accurate but i belief it is very easy to understand. i majorly work with 4hours time frame and the indicator has been fine.
Where can i buy this amazing indicator and how much is it?