I am new to Forex and I am about to start my first trades.

Oliveira27trader posted:
I am new to Forex and I am about to start my first trades by mapping the EUR/USD and JPY/USD pairs. After watching many videos, I adopted the strategy of using MACD and a 200-period moving average, always following the trend. When the MACD line crosses with the 26-period average, I enter a sell or buy position depending on whether it is above or below the 0 axis. My leverage today is 1:1000 and my account balance is $1,000. For the experienced traders here in the forum, is this a good strategy? Can you give me tips? Do you make a living from trading?

I will be doing Day Trading on MT5.

Try a Demo account for 6 months…and then open a YEN live account or else 3/4 weeks your account will be busted.

Observe the 6 months how markets behave.

Open two or 3 trades and let them play out for 12 to 14 hours, once closed then only open 2 or 3 more.
 
If you have a 10,000 account the open 0.5 to 1 lot sizes in currencies and .25 or 0.5 on XAUUSD

Note that 0.5 XAUUSD on a highly fluctuating day will move -3000/+3000 and 1 lot currencies will move -700/+700, so if you have 3 wrong trades in XAU/USD of 0.5 lots with no stop loss… your account will get busted.

Open a highly leveraged account 1:500 or 1000 or 3000 as you will see more free margin but control this leverage by 1/.5 lot sizes and 2 / 3 trades opened at one time.

Each currency moves from low to high in 4 to 8 hours and rest of the times they in between…always observe which currency moves at which time, this will tie into the Economic calendar events of 2 and 3 star impacts.
See last weeks direction and open trades in that direction
Times to open trades are
1 am to 2 am GMT +1
6 am to 7 am GMT +1
2 PM to 3 PM GMT +1
8 PM to 9 PM GMT +1

Generally if a currency starts moving at 1 am GMT +1 it will end its move by 7 or 8 am. Generally the currencies move in groups I.e. all JPY move at the same time, all EUR + GBP moves at the same time, all USDs moves at the same time and this ties to 2 and 3 star impacts of the Economic calendar. Generally if USD/JPY is going up GBP/USD & EUR/USD will go down.


Generally any two of the three sets will move at the same time ie If EUZ/NZD and EUR/AUD moves then AUD/NZD will be stationary and will move after 8 to 10 hours
CCY1/CCY2, CCY3/CCY2, CCY3/CCY1

Eg
USD/JPY , GBP/JPY, GBP/USD
USD/JPY, CAD/JPY, USD/CAD
EUR/NZD, EUR/AUD, AUD/NZD
USD/NOR, USD/SEK, NOR/SEK

If you see USD calendar 3 stars at 1 pm and 8.30 pm GMT +1… then a trade around 8.30 pm
If you see USD 3 stars impact only at 1.30 pm GMT+1 then trade around 1.30 and wait till the next day morning.


If any of you need more guidance please contact me at [email protected]. I wrote my own software .

Oliveira27trader posted:
I am new to Forex and I am about to start my first trades by mapping the EUR/USD and JPY/USD pairs. After watching many videos, I adopted the strategy of using MACD and a 200-period moving average, always following the trend. When the MACD line crosses with the 26-period average, I enter a sell or buy position depending on whether it is above or below the 0 axis. My leverage today is 1:1000 and my account balance is $1,000. For the experienced traders here in the forum, is this a good strategy? Can you give me tips? Do you make a living from trading?

I will be doing Day Trading on MT5.

With the advancement of technology, it is no longer necessary to do so much work to make a profit in forex.

The difficulty that many encounter is not having access to a real high-level expert.

 I don't know how your negotiations went so far, but if you need professional help, contact me.

Having professional advice from an experienced trader is priceless. Especially if that trader has been active in front line trading in major institutions AND has traded own monies. This way you can implement a sustainable strategy since gaming experience from the big banks and also own money trading is a well made formula !

contact for more intresting way to build a well define system and edge +234-9075991847

Oliveira27trader posted:
I am new to Forex and I am about to start my first trades by mapping the EUR/USD and JPY/USD pairs. After watching many videos, I adopted the strategy of using MACD and a 200-period moving average, always following the trend. When the MACD line crosses with the 26-period average, I enter a sell or buy position depending on whether it is above or below the 0 axis. My leverage today is 1:1000 and my account balance is $1,000. For the experienced traders here in the forum, is this a good strategy? Can you give me tips? Do you make a living from trading?

I will be doing Day Trading on MT5.

How did you decide you wanna follow this particular strategy?

DayTrading_ posted:
Having professional advice from an experienced trader is priceless. Especially if that trader has been active in front line trading in major institutions AND has traded own monies. This way you can implement a sustainable strategy since gaming experience from the big banks and also own money trading is a well made formula !

My algorithm copies CITI GROUP's orders,

Look at my portfolio.

Have you considered trying out in demo before live? Unless you don't mind affording the losses.

First of all, do not ever use 1000 leverage especially when you are new to forex, that's ridiculous. I mean, think about how much you are going to lose if this does not goes the way you want it to go.

Jonathan_45 posted:

Oliveira27trader posted:
I am new to Forex and I am about to start my first trades by mapping the EUR/USD and JPY/USD pairs. After watching many videos, I adopted the strategy of using MACD and a 200-period moving average, always following the trend. When the MACD line crosses with the 26-period average, I enter a sell or buy position depending on whether it is above or below the 0 axis. My leverage today is 1:1000 and my account balance is $1,000. For the experienced traders here in the forum, is this a good strategy? Can you give me tips? Do you make a living from trading?

I will be doing Day Trading on MT5.

How did you decide you wanna follow this particular strategy?

Change that leverage percentage immediately. It's simply suicidal, absurd. Pure lottery of a move.
Use 1:33, even 1:100 or 1:300. No more than that. With 1,000 you won't have much margin for error.
Each order should only risk a maximum of 2% of your capital. Otherwise you won't last long in the market.

There are no good or bad systems. What works for one kills another. There are efficient and inefficient traders with bad or excellent systems, it doesn't matter. If Messi or Cristiano played drunk it wouldn't be of much use.
With a moving average of 30 or 30 and 90 you can do wonders too. But only if you are rigorous and functional.
Use Demo to learn to be efficient. Take your system and apply its rules strictly, without improvisations. Only then will you know if it works or not, and for how long (the market changes). Learn to accept losing. That is essential. If you start taking revenge on the market, you will do badly. Lose little often and win a lot very rarely. That is the trick.
This will take time. If you have money to lose, do it for real, better with E-Micro micro accounts, that way you will lose much less, have fun, suffer and learn. Demos are not really of much use: they deceive. The truth is that you only learn by bleeding, losing real money. With 1,000 of capital you should definitely use E-Micro.

Otherwise, 99% of Forex is fake Forex: it's not real, it's a simulation. And there is usually data falsification. Brokers are your counterparty, your enemy. They won't let you win.
To trade for real, you can only do it through a broker that works directly with the REAL Dollar and Euro market, and not many do that. And almost none of them do Forex. A broker that gives you access to the Chicago and New York Markets through E-Micro accounts, where there is REAL trading with dollars and euros and other currencies, in real time, without tricks.

its not about the leaverage guys. no matter what leaverage you use...its all about what risk you can put in.
i trade with 1:unlimited leaverage with exness. it' all about making the right use of your position size calculator