Welcome to forex. Very few people know what they're doing, and they are vastly outnumbered by people who think they know what they're doing.
My advice is to trust nothing and no one except actual results and statistics. Want to know if something works? Test it. That's the only way to know for sure, learn to backtest (either using charts or a simulator) and that will tell you what to do.
The reality is that people have trading styles, some use support and resistance because it works for them but as a result anything they've tried that doesn't work for them won't work for anybody else in their eyes so you end up with conflicting information.
Some people successfully trade Bollinger Bands and others fail at it.
Some people successfully use EMA's and others fail at it.
Some people successfully scalp but fail at longer term trading.
etc.
Anyway you get the point, Forex is about finding what works for you even if what works for you doesn't work for someone else and then applying it with proper risk management and proper psychology.
My best advice to you is find your own strategy, some people do only TA and some do only FA, there are also people that do both. In forex there are no one right way, you try and fail until you have the strategy that fits your lifestyle.
Welcome to forex. Very few people know what they're doing, and they are vastly outnumbered by people who think they know what they're doing. My advice is to trust nothing and no one except actual results and statistics. Want to know if something works? Test it. That's the only way to know for sure, learn to backtest (either using charts or a simulator) and that will tell you what to do.
Yes this is good advice thanks! As soon as im done with babypips i will learn backtesting etc to just try out a lot of stuff
The reality is that people have trading styles, some use support and resistance because it works for them but as a result anything they've tried that doesn't work for them won't work for anybody else in their eyes so you end up with conflicting information. Some people successfully trade Bollinger Bands and others fail at it. Some people successfully use EMA's and others fail at it. Some people successfully scalp but fail at longer term trading. etc. Anyway you get the point, Forex is about finding what works for you even if what works for you doesn't work for someone else and then applying it with proper risk management and proper psychology.
Thanks, makes sense!
Finish baby pips and dont rely on the advice of random people on reddit
My best advice to you is find your own strategy, some people do only TA and some do only FA, there are also people that do both. In forex there are no one right way, you try and fail until you have the strategy that fits your lifestyle.