learning to trade forex
Remember that any signals based on technical indicators, pairs, or forex robots disguised as signals, or any human generated signals are just standard technical indicators and pairs, all of which have been proven to be ineffective, except for scalping a few pips here and there. We noticed a large number of daily forex signals providers websites that listed the pair, stop loss, and take profit, but the take profit numbers were always very close, like 20 25 pips away. Since the target prices are so close we would qualify this as scalping, and in many cases an unfavorable money management ratio, where the number of pips you are trying to make is roughly equal to the number of pips you risk. This will only benefit your broker in the long run because the money management ratio is barely 1. 5:1. We did not see any signals with “hold” recommendations based on long term trends, only where to exit or take profit repeatedly.
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The same goes for market makers.
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This is due to the fact that forex trading is global.
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learning to trade forex