No announcement yet.

Mistake Forex Beginners Make - Misreading Charts

  • Filter
  • Time
  • Show
Clear All
new posts

  • Mistake Forex Beginners Make - Misreading Charts

    It is true that price charts are the primary tools for successful FX trading online. The main mistake beginners make when reading price charts lies in the identification of time frames.

    Traders should always ensure that they are looking at time frames that immediately precede and immediately follow the chosen trade period.

    Any other time periods are irrelevant for that particular trade period and should not form the main reason for making trade decisions.

  • #2
    Frankly speaking, it’s very common to see such mistakes happening, but this shouldn’t be any worry for us instead we should make sure we focus on correcting it and only then we will get better chance of success. I am able to do it all very nicely which is thanks to OctaFX broker with their demo contest like Southampton Supreme, it’s having unlimited prizes to be won plus is just 90 minutes happening every Monday, so that really helps with trading.


    • #3
      The reality of the matter is that price charts are the essential instruments for fruitful FX trading on the web. The primary oversight fledglings make when perusing value outlines lies in the identification of time allotments. Traders ought to dependably guarantee that they are taking a gander at time spans that quickly go before and instantly take after the picked trade period. Some other eras are superfluous for that specific trade period and ought not shape the fundamental purpose behind settling on trade choices. For a good chart, broker is very important. Some brokers generate fake candles. So we should carefully choose broker. As a binary options trader I like because it does not generate any fake candles.


      • #4
        There are lot of common mistakes every trader do when they are new. I also did the same. Like opening trade position before big news events and after the news events. Opening too many lots is another mistakes. Risking more than 1% of the capital is also a mistake. Another big mistake is unrealistic expectation. We come here to make double, triple of our capital over night. But it's the biggest mistake one can have. We also make mistake in choosing broker. Now I am on MaximusFx as it has both binary options and forex trading facilities.


        • #5
          The leverage always consider as an important financial tool which an investor should consider when choosing a broker. it always contains risk , so before trading with leverage we the traders have to know how to manage risk , my trading career I always use 1:100 leverage for avoiding risk , but when I can predict the real faction of this market with certainly then I use up to leverage 1:500 that always ensures my trading platform LQDFX. So, my trading life is very much comfortable.