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Bearish engulfing pattern formed on H1 chart for EURCHF pair, and itmade the price penetrate the psychological level at around 1.09002 . At this momenet RSI 14 also shown that fall down to 48, while Stochastic to around level 43. At this rate there is a quite strong bias for this pair to fall up to 1.08506 or even lower.

On H1 chart it seems that AUDUSD corrected yesterday, but the upward movement can not pass the resistance level which located at 0.75587 this morning looked back gets another trial based on the current movement. If able to rise above that resistance level, it may open chance for AU to keep rising, but if it fails then the price will fall and the bearish will continue.

It is not the most profitable one but already proven by time, from so many years it perfected and become like this, even there is just small crack it doesn't a big deal. RSI also one of the favourite indicators for many traders who play with technical analysis and become one of the most trusted indicator.

This is just contest so even some bucketshop still offers it for the sake of promotion. And even you make thousand of dollars but your position in the 6th for example, you won't get the prize. Usually they only take 3 best or up to 5 best for getting the prize. But i won't deny that there is a broker who also hold something like that.

Skills coming from experience so the best way to improve your skill is by focusing yourself on practicing and it will increase your exprience and so do your skills. You might be wonder why experts can trade better because they have a ton of experience of trading, not just by mere months and then they become something like that, it takes few years to be like that.

I do believe that forex could be a main job for all people who want to turn it, but it is very hard for now unless you have a strong mental if something bad happened because forex is so full of uncertainity, we just predict but the outcome sometimes doesn't make a sense. If you have good mental, thousand dollars in your account as starting point, and a good risk management(3-5% of your total capital), then you won't have to worry and start to trade.

But not all of it are accurate myregister, this is what we should think about . I know as long as we have control of the risk unecessary one wouldn't happen but this is a signal, signal coming from someone who think that the price will down or up, and it is from human who input it too, not from the pure robot, so there is chance it may give you more losses.

@aliforex MT4 indicators are more in terms of size rather than MT5. MT4 has more robots and more indicators than MT5 which gain less attention when it introduced some years ago. MT4 in this case still the winner by looking at how much indicators or robots in the market.

In my own opinion, FX is a profitable or lucrative business, people can earn despite of their previous job and it is more flexible than other kind of job. You are the one who decide your own time, when to trade, when to close a terminal and what day you should trade, all depend on you.

Reading useful materials will give you better insight of foreign exchange. I know this is true since i am the one who feel it too, but knowledge cannot be practical if you don't put it in action. Practie still needed and keep practicing is the most useful tops that i could give here, even if you already earn in satisfied amount keep practicing at least once in a month.

@omar So if that is difficult and risky we should know how to manage the risk. As online earning source forex is reliable but you must invest with big amount of money, i don't see that small amount of money could give you bigger profit and able to maintain your earning for a while.

That is more efficient even yeah some people who learn by itself wil say otherwise. But still you need to spend some amount of bucks for that service, and remember not every single person in this world able to afford offline mentor. Yet, there is money there's a service and it means that if you have some bucks to spare invest in offline tutoring.

Then who said that was an easy feat buddy? It is not but still it is possible thing to do. Most traders may not see the result even in 3 months, but i think around one year and with all experince you have good trade without emotion will be possible, this is what some traders called as a trader who have good psychology.

$500 isn't bad. $1000 also not worse than $500, as long as you have big enough bucks and don't use much lot size you will find your total investment is enough. I think the one who invest too low is too risky since they must make it equal by use high leverage. Just look at broker who offer small deposit limit, they will have 1:1000 or even more.

Yes, i think forex requires a good mental capabilities. As long as you are good enough you may able to reduce more fatal mistake because of your psychology like fear or greed. If you have good mental capabilites your next move only to find a profitable strategy that may works for at least 60% of your whole trading.

As long as someone still want to make forex as their main income then it would be popular and i agree with myregister. It will be always exist even more than 10 years later and still popular since more people come into this business and make it as a crowded business where 90% is speculation.

I don't think that forex for everyone, forex itself already risky and as we know there are more than one kind type of man. Some of them cannot even take the risk this is why forex is not for everyone, the answer is actually simple. Forex requires a trader to endure many kind of hardship in sense of psychology and also the temptation.

If your take profit works well then that is worthy, but if no that is a mess. Not your TP to be exact but your strategy which is a mess. Overall, take profit should be taken as a good investment for all people. With take profit you shouldn't stay awake for few hours just for the sake to cut your profit. Just let your TP do it for you.

The dynamic nature of forex is a fact, and that is come because most people do speculation just like you said, and for the simple analogy is if all traders decide to buy a currency of course the price of that currency will keep rising and keep rising and vice versa if all traders decide to sell. But this could be disaster for who prefer stagnancy but for forex traders volatility could means profit.

Of course exist if that won't exist your trading won't be have something like comission or spreads. That is the cost of trading. It is fact and undeniable. The cost usually various to each traders but the more you trade the more cost, also swap is also cost.

Speculation because something is exist. In this case is fundamental issue such as news. If one country has bad report who want to put their money there? In shorter term you can gain more profit by such a strong news like NFP. If you put your position in the right time, you would reap more profit. Technically, it is speculation or traders but there is something behind it and it might be news or rumour or because of technical indicators.

Works or not it is depend on each trader's view to see if that work or not. I see if the failure rate of that robot is up to 30% that is still reasonable to use it and as long as that robot do a better risk management i would gladly to use it but it is hard to find so far. I think forex robot overall still working but must be get more updates.

I think even your broker have an office on AAA countries that doesn't change anything, remember AAA countries just not US. There is UK, Germany, Switzerland and few others. Mostly based on EU region. There is a rule in UK if i don't make any mistake that you can open an office there to get regulation but not full regulation like a broker who really registered in FCA.

You think that you can be controlling your trade just because of that, kalau berdasarkan pengalaman saya menggunakan SL bukan berarti trade by myself. Here, the control diminished because rely on stop loss too much for the sake of stop the loss itself. Basically, we can achieve 100% control of our trading but most of us prefer around 90-95%.

It is pretty hard to earn by scalping, at least for me and trying it autodidact will waste more time, i recommend to find one or two reputable or reliable mentors as you guide. The teaching progress would be faster and your mistake would be easier to correct. Since scalping need fast action and fast profit this is why it should need more guides and this is why newbies like it.