Forex Trading Tips & Strategies for 2021

Forex Trading Tips & Strategies for 2021

Are you a newbie to the world of currency trading? If so, you are in the right place. Let’s get to it and discuss some of the best Forex trading tips and strategies for 2021, so you can get to making some real profits.

Forex Trading Tips

Forex Tips for Newbies

The first thing that we want to cover today are some of the most important Forex trading tips that newbies need to adhere to. If you follow the simple tips and rules as outlined below, your chances of success will increase drastically.

Start Small

First off, when you are just starting out with FX trading, it’s important that you start small. By this, we mean that you shouldn’t have many trades open at the same time, no more than two or three, or else they become hard to keep track of. Moreover, don’t invest much money into single trades. If you are a beginner, chances are you will make mistakes. If you are going to lose trades, they best be small ones.

Manage Risk

Something else to adhere to when it comes to Forex trading for beginners is the 1% rule and the 3% rule. Now, it depends on who you ask, but the bottom line is that each trade you place, the money invested in it, should not total more than 3% of your total trading capital at your disposal. You don’t want to invest half of your money in a single trade, because a couple of losses will wipe you out.

Money Management

Just remember to manage your money properly. The rule of thumb in FX trading is that you should never trade with money that you cannot afford to lose. Don’t gamble your rent or mortgage payments on the chance that you could strike it big.

Pick a Good Strategy

FX trading is not the kind of thing that you can just do on a whim. It’s not something emotional and it’s not something that you can wing. FX trading needs to be well thought out, planned, and methodical. This means finding some solid trading strategies that are easy to master and proven to work.

Remain Consistent

In terms of Forex trading tips for newbies, one the best ones we can give you is to try and be as consistent as possible. If you lose a trade, don’t throw your game plan in the trash and start over. If you know that your strategy is good, weather a few losses and keep on trucking. Consistency is key in FX trading.

Get a Trading Education

One of the best things that you can do before you even start here is to get yourself a decent education. The fact of the matter is that without at least a basic understanding of the market and FX trading concepts, you won’t get very far. You wouldn’t run into a burning building without first learning how to be a firefighter.

Finding the Right Broker

Finding the right broker for trading is a pretty big deal too. Some are best for heavy trading while others are best for newbies. Try to find yourself a low cost and beginner friendly broker.

Set Realistic Goals

One of the biggest mistakes that newbie traders make is to set super unrealistic goals. Folks, you won’t make thousands of dollars in your first weeks or even months of trading. There is a learning curve involved, and you need to realize that for the first while, your profits aren’t going to be anything super exciting.

Make Weekly & Monthly Plans

The other Forex trading tip you should follow is to prepare some weekly and monthly trading plans based on both technical and fundamental analysis. Don’t just start trading blindly.

 

Some Simple Forex Trading Strategies

What we want to talk about now that we have covered some of the most important Forex trading tips for newbies, are some of the best and easiest Forex trading strategies that you as a beginner can employ with relative ease.

5 Minute Gold Scalping Strategy

This particular strategy for Forex trading is a truly fantastic one, something that every newbie can learn how to do in just a couple of hours. Even better is the fact that these trades only last for a few minutes and involve small investments, thus making this strategy perfect for newbies.

VWAP Trading Strategy for Newbies

VWAP stands for volume weighted average price, and although it is quite the mouthful, it’s a fantastic trading tool to know, and as you can see from this video, it allows for some fairly straightforward strategies that any newbie can learn.

Best Fibonacci Strategy for Newbies

The Fibonacci retracement indicator is another one of these indicators that allows for easy trading for newbies. Watch the video included here to find out exactly how to use it with ease.

https://youtu.be/tMeE4AxADuI

 

Where to Learn Forex Trading in 2021

Seeing as one of the most important things you can do as a beginner Forex trader in 2021 is to get an education, it might be a good idea to know where the best place to get that education is.

Well, when it comes down to it, the best place to learn everything that there is to know about Forex trading is from the Income Mentor Box Day Trading Academy.

With a fully stocked curriculum, over 55 full length video tutorial lessons, and a fantastic mentor that makes learning fun and easy, not to mention for a very low cost, Income Mentor Box is the place for newbies to be.

Forex Trading Tips

 

Forex Trading for Newbies in 2021: Final Thoughts

The bottom line here is that as a newbie Forex Trader in 2021, you do need to be careful. There are many great Forex trading tips and rules that you need to follow, and some really easy strategies that you can learn in no time at all.

That said, we feel like the most important thing you can do for your trading game is to get an education. Making money in the world of trading is much easier when you actually know what you are doing.

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Best Forex Strategies & Advice

Best Forex Strategies & Advice

The fact of the matter is that Forex trading is of course not easy. Sure, it has the potential to be hugely profitable when done right. However, it also has the potential to cause traders to lose large sums of money in very short periods of time. Yes, there are plenty of successful traders out there, and what they all have in common is that they used good Forex strategies.

Now, if you are a newbie to the world of Forex, you probably don’t know too many Forex strategies. Moreover, if you have never traded before, you could definitely do with some tips and advice, and some crucial education in general. FX trading is not the kind of thing that you can just wake up one morning and decide to be successful at by day’s end. It takes a lot of good knowledge to trade FX profitably.

This is what we are here for today, not as much to talk about specific Forex strategies and trading advice, but more to provide you with a great source for these strategies and tips. His name is Andrew. A, a long time day trader with plenty of experience under his belt. Andrew has seen great success in the world of Forex, and through his various funnels and channels, he does his absolute best to relay the best Forex strategies and advice to the people who need them the most.Forex Strategies

Who is Andrew A?

Before we get into talking about some of his best Forex strategies & tips, let’s quickly talk about Andrew. Andrew is a Forex trader with over 10 years of experience under his belt, and yes, he is very profitable. In fact, Andrew is the creator of the Income Mentor Box Day Trading Academy, various Forex & Crypto signals groups, and even some high quality automated Forex trading software too.

This man knows what he is doing, and where he is generally best known from is his YouTube Channel, Andrew’s Trading Channel. Specifically, this trading channel is what we are here to talk about today, as this is where Andrew provides his followers with some of the best Forex strategies and trading advice around.

Forex Strategies

 

Andrew’s Best Forex Strategies & Advice

Ok, so right now we want to take a look at some of Andrew’s best and most recent Forex strategies that he has covered, as well as some of his latest Forex trading tips and advice videos too. Let’s take a look.

Simple & Profitable Forex Scalping Strategy

What you need to know here is that in Forex, scalping is all about placing many small trades. Instead of placing a few large trades, which can be very risky, scalping is all about making tons of small trades on short timeframes. This can indeed be very successful when done right.

When it comes to Forex strategies, this particular one involves using the 3 EMA (exponential moving average) to create scalp trade setups. It’s definitely a video worth watching if you want to make decent profits really fast. This is one of Andrew’s most recent Forex strategies videos, and it has already become very popular among his followers.

EUR/USD Forex Scalping Strategy

Yes, here we have another video where Andrew describes one of his popular scalping Forex strategies. However, unlike the strategy video discussed above, in this one, Andrew uses the EUR/USD currency pairing as an example.

He does everything right in front of your eyes, including placing trades, so you can see exactly how he does it. If you want to trade the EUR/USD pairing, that has a huge profit potential, checking out this video on how to do it might be able to help you out.

Knowing When to Cut Trades

When it comes to Forex strategies, something that needs to be a part of every trading strategy, is knowing when to cut trades. Yes, sometimes trades go south and losses happen. This is just the way it is, and it is nothing to fret about.

That said, when trades are not going your way, you need to know when it is time to throw in the towel and just cut your losses. In this particular trading tutorial, Andrew discusses the two most important signs you need to be aware of that signify when it is time to cut a trade.

3 Ways to Find Forex Entries

Whereas the previous Forex strategies video we looked at was about knowing when to cut your trades, this one is about knowing when to open them. Of course, entering a Forex trade at the right time, and making sure that you are trading with the right currency pairs, is essential to success.

The right timing for the right trade can make a world of difference. This is why in this particular video, Andrew tells you what the 3 best ways to find Forex entries are. This is a really important tutorial video for all newbie traders, and we would definitely recommend watching it.

RSI & Fibonacci Forex Hack

In this particular Forex strategy video, Andrew discusses a somewhat complex yet useful trading strategy. As far as Forex strategies go, particularly those discussed by Andrew in recent times, in our opinion, this is by far one of the best.

Yes, it involves using two different indicators, Fibonacci and RSI in order to find the best possible trading signals and the best entry points. Yes, this particular strategy takes a bit of know-how and some time to master, but it has great profit potential and is definitely worth looking into.

 

Best Forex Strategies & Tips – Final Thoughts

As you can see, when it comes to the best Forex strategies and advice, Andrew’s Trading Channel is one of the top sources indeed. He’s got plenty of great advice that everybody and anybody can make use of. Folks, if you really want to make Forex trading as easy as possible for you, checking out the EA Pip Scalper app is a good idea, the first fully automated Forex trading system of its kind.

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The Best Forex Trading Method

The Best Forex Trading Method

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Have you ever wondered what the best Forex trading method is? Yeah, there are hundreds of different ways to trade FX, but they are not all the same. Some are faster than others, some slower, some more reliable or less, and when all is done, they all feature different profit margins too. Right now, we want to take you on a journey of what is the best Forex trading method out there. It’s all about putting money in your pockets!

Best Forex Trading Method

Best Forex Trading Method #1 – 5 Minute Scalping

One of the important trading methods which Andrew discusses in one of his most recent trading tutorials is the 5 minute scalping strategy. For those of you who don’t know, scalping in FX is all about placing a large quantity of small trades, all on short 5 minute time frames.

The whole point of this kind of trading is to make lots of quick little profits. No, single trades are not going to produce huge profits here, but the point is that this is a reliable way of trading, and profits from those single trades do start to add up real quick.

When it comes to one of the best Forex trading methods out there, this 5 minute scalping strategy is definitely one you should be familiar with. As you can see from Andrew’s videos, both of them, he manages to make healthy and consistent profits trading in this exact manner.

Best Forex Trading Method #2 – Coronavirus Trading

Yes, it is of course unfortunate that our world is currently in the midst of a coronavirus pandemic. There are hundreds of thousands of people who are ill and tens of thousands who are dying. No, this is not a good time for planet earth and its inhabitants.

Now, although it sounds crass to say, there is a silver lining to every dark cloud. There is always some good to be found in the bad, and when it comes to the CO-VID 19 pandemic, it does produce some decent opportunities for FX trading.

You see, what the best Forex trading method is at any given time depends on the specific economic situation in the world. Yes, it is possible to take advantage of the current coronavirus pandemic in FX trading. In this particular video, Andrew explains how to trade FX profitably during this otherwise horrible time on planet earth.

Best Forex Trading Method #3 – The Gold Breakout

Something else that is very important is that you know when to trade certain assets against currencies. For instance, in Andrew’s latest trading video, he demonstrates how to trade Gold against the USD for profits.

It appears as though gold has experienced quite the breakout during the last couple of days, with massive price fluctuations happening. This is of course also due to the coronavirus pandemic and the state of the US economy. In this video, Andrew was able to trade XAU/USD and make an ROI of 650%.

Thanks to the gold breakout, Andrew was able to make a killing on the Forex market. The best Forex trading method is all about taking advantage of a situation at a moment’s notice, like this gold breakout. Check out the included video to see exactly how Andrew did this.

Best Forex Trading Method #4 – Candlestick Pattern Cheat Sheet

If you are not familiar with candlestick patterns, this is the perfect place to do so. Candlestick patterns can of course take many different forms, and they all indicate whether a price is going up, down, or remaining at the same level, plus more.

Simply put, if you know how to read candlestick patterns and how to place trades based on that analysis, you do stand to make a heck of a lot of money.

In this particular tutorial, Andrew talks about what candlestick patterns are, how to read and analyze them, and how to place trades based on that analysis. Some of the best Forex trading methods out there involve candlestick patterns, so this is definitely a lesson worth checking out.

Best Forex Trading Method #5 – MACD Turbo Trading

When it comes to the most profitable Forex trading strategies, this one could just be the very best Forex trading method out there at this time. The MACD indicator is one of the most popular indicators out there, and there is a lot that it can tell you.

Simply put, this is a momentum based indicator that can tell you all about price direction and momentum. If you plan on being a profitable currency pair trader, knowing what this MACD indicator is, what it tells you, and how to use it is very important.

Moreover, in this particular video, Andrew demonstrates how to use the MACD indicator to make small and fast turbo profits. In this sense, it is kind of like the 5 minute scalping strategies which we looked at in the beginning of today’s article.

5 Ways to Become Profitable in Forex

Now, this last lesson we want to talk about is not really about one single best Forex trading method. It is more a list of tips and tricks you should put to use in order to be a profitable FX trader. If you are a newbie currency trader, we would definitely recommend watching this whole video from front to back. These are some of the best Forex trading tips you will ever get.

The Best Forex Trading Method – Final Thoughts

When all has been said and done, as you can probably tell, there is no single best Forex trading method. The best strategy for trading FX can take many different forms. It all depends on how much capital you have to trade, if you are a newbie or a seasoned pro, and of course it all depends on the situation at hand.

As mentioned above, this Coronavirus has created some great FX trading opportunities, especially right now with Gold. All of these video tutorials for the various Forex trading strategies out there will go a long way in making you a profitable trader. That said, if you really want to be the best day trader out there, learning from the Income Mentor Box Day Trading Academy is what you need to do.

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