Recent content by FXGroundworks

I would advise you of going the route of setting up your own punting shop to really learn the details about the odds just so that you can ask the questions you need. Most places will actually advise people not to setup this kinda of "brokerage" but to actually go the route of MT4 because there...

The smallest increment in the difference of price. When you trade harmonic patterns for instance your PRZ (potential reversal zone) might have a small area to enter of 15 pips.

The main thing that makes the market go up and down are peoples emotions. People will “feel” like buying or selling a currency pair and when that happened supply and demand kicks in. Of course news does make the market go a little wacky sometimes but remember it’s the peoples emotions to the...

Support and resistance is taken from area’s where price has attempted to go higher (or lower) and fails and corrects. You can’t take the highest pip for the day and call that resistance, you should go where most of the candle sticks try and attempt to break through.

No you wouldn’t need too. Most brokers have this “conversion” built into the spread depending on what your base currency is so that you wouldn’t have two separate transactions.

My best advice for you would be to realize this is going to be a journey and that you should not expect to get rich over night. However with a consistent effort in educating yourself and learning you will get to where you want to be. I would recommend watching a movie that Paul Tudor Jones...

Lets first define leverage. There are two types of leverage that you must be aware about. One is position leverage and the other is margin leverage. Do not get confused about the two of them. Your broker will advertise position leverage which is the 500:1 etc. With just 1 dollar you can trade...

The main thing that makes the market go up and down are peoples emotions. People will “feel” like buying or selling a currency pair and when that happened supply and demand kicks in. Of course news does make the market go a little wacky sometimes but remember it’s the peoples emotions to the...

This would depend on how long your trading and your strategy. Most harmonic traders probably hold their position for hours to days. Sometimes minutes! But never seconds.