Looking for 5$ a day profit strategy??
That will not help you! Until you have learned to trade yourself and understand how all of it works, you will not be able to use anyone else's strategy properly.
This however will take a very long time (years). Knowledge and experience does not come overnight. So, put in the effort and dedication if you want to succeed.
Also read the following ...
Forum on trading, automated trading systems and testing trading strategies
Fernando Carreiro, 2022.06.07 14:40
Be it by fake agents, brokers, signals, or EAs, there is one weapon to beat them all — knowledge! Your knowledge is the key to prevent you from being scammed.
Invest and take time to improve your knowledge, to gain experience and improve your skills. Learn to do things for yourself and not to rely on others so much. You don’t have to be a master or even be very good at it, but the more you know and understand, the easier it will be for you to detect when something is not what it seems to be.
Learn how brokers work and how they are licensed and regulated. Learn about the different markets, trading conditions, types of accounts, leverage, and when you don’t understand something, ask first about it and get answers from different sources. Don’t just blindly accept things.
Learn to trade manually, even if you intend to use signals or EAs. You don’t have to be very good at it, but you need to understand all the different concepts of how orders are placed, how they are triggered, how to manage them, how to calculate and manage your risk, and all those pesky little details required to trade manually. Only then can you better evaluate the signals you wish to follow or the EAs you wish to use.
If you are going to hire someone to code your EA for you, then take some time to understand how coding works and some basic knowledge about it. Again, you don’t have to be good at it, but the more you understand, the easier it will be for you to communicate with the developer and provide valid, realistic requirement specifications and to understand how much work is involved as well as its value and how much to budget.
Also, learn to use the Strategy Tester properly and how to interpret the results. The better you understand it, and the more you use it, the easier it will be for you to evaluate the results from EAs you are considering.
So, in conclusion, don’t be a greedy idiot quick to jump onto anything “shiny”. Instead, be wise. Take your time. Invest in your knowledge and skills. Choose carefully.
Forum on trading, automated trading systems and testing trading strategies
Benefits of buy signals on MT5 - Intra day
WaqasBarakzai, 2022.11.19 10:57
Thanks for the response bro. But please enlighten me that if I have 50$ into my account while the one whom I copy have 5000$ in his account then how the trade begins. If the lot size etc. will be the same then how it is beneficial for me???Also, making 10% daily on a 50$ investment is not realistic if you don't know what you are doing.
Also, making 10% daily on a 50$ investment is not realistic if you don't know what you are doing.
Thanks for your kind response bro. I am learning from past week day and night almost 08 hours a day. I am well aware of the things now. I tried to use EMA 8 and 20 with RSI to get trades but that was good on demo account when I shifted to original its not working well. Now I am learning the use of Fibonacci but looking for its combination index. I mean what I can use with Fib to get better and confirm signals??? I am now well aware of Fib for example if the LH come between 61 to 78% area of Fib then its best to buy in uptrend etc.
10% daily is not necessary but the thing is to start earning.
That will not help you! Until you have learned to trade yourself and understand how all of it works, you will not be able to use anyone else's strategy properly.
This however will take a very long time (years). Knowledge and experience dose not come overnight. So, put in the effort and dedication if you want to succeed.
Also read the following ...
Thanks for being kind to reply and guide. The start of earning some bucks on daily basis is need of an hour for me.
I am learning by myself I am spending almost 08 hours a day on this work from last week. I am good and quick learner. I followed a course on YT, I learned alot from it, but at the ending of the course the person/instructor is not willing to share full trading strategy without payment so I am struck there. What is good indicator to combine it with Fibonacci ??? or you can share any video / article on the legit trade. I will learn by myself.
Looking forward for your response.
Thanks for your kind response bro. I am learning from past week day and night almost 08 hours a day. I am well aware of the things now. I tried to use EMA 8 and 20 with RSI to get trades but that was good on demo account when I shifted to original its not working well. Now I am learning the use of Fibonacci but looking for its combination index. I mean what I can use with Fib to get better and confirm signals??? I am now well aware of Fib for example if the LH come between 61 to 78% area of Fib then its best to buy in uptrend etc.
10% daily is not necessary but the thing is to start earning.
i am sure you got the best responses so far stick to the advice you got
You have to stop watching these youtube tutorials, 99,9% is pure BS from "traders" that make money from youtube or selling courses instead of trading. It will cloud your mind, it is very hard to "uncloud" your mind. Always ask yourself "what is the reason someone is sharing information?".
And you will have to learn to code. It is the only way to confirm or bust what is being said and thus filter out the BS in a reasonable time.
You have to stop watching these youtube tutorials, 99,9% is pure BS from "traders" that make money from youtube or selling courses instead of trading. It will cloud your mind, it is very hard to "uncloud" your mind. Always ask yourself "what is the reason someone is sharing information?".
And you will have to learn to code. It is the only way to confirm or bust what is being said and thus filter out the BS in a reasonable time.
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Hi folks!
I am student and new in the forex market. I just want to earn 5$ per day because I have not big investment. I got confused by seeing YT video and nothing works for me. If anybody share his/her strategy then I will be very thankful.