Questions asked in Forex- Answered
There are some common questions asked in Forex. Punch in your questions on the comment section and they will be answered accordingly.
Can I get rich by trading Forex?
Forex is not a get-rich quick scheme but you can get rich if you have the right track. You can get rich with copy trading and also get poor in copy trading.
Are Forex robots profitable?
Forex robots are very profitable. If you know how to use it properly, it will work fine. Every robot has its own settings and ways to use them. Robot is just a manual strategy automated to trade when you are off a seat. But before you use it, ensure you already have knowledge on how to trade well. Read more here
How do I utilize $500 in forex?
Utilizing $500 is to learn how to manage risk. Consider the volume to use. You can set 0.03 for not more than two trades which you can take 0.02 per open trade. So, set your SL and TP with good risk to reward ratio. Move SL to breakeven if in profit.
Lastly, have a daily profit target and don’t overtrade
What’s the difference between premium price and discount pricing in the Forex Market?
Discount prize is when a market is performing a higher high and higher low (Uptrend) in which 50% pull back of the extension is used and an entry (Trading pull back)
The premium prize is when a market is performing an uptrend and have huge pull back after the break in market structure (when using Oder block) the pull is just 90% pull back
What makes you a better Forex trader?
What makes you a better forex trader is the act of being disciplined. You need to follow the trading rules. Also, you need to reduce over trading. Lastly, being able to analysis few charts. All analysis should be done by Saturday and Monday morning better entries.
