Last updated: November 20, 2024 at 03:11 PM
Summary of Reddit Comments on "fvg forex" Query
EURUSD as a Suitable Pair for Trading
- EURUSD is suggested as a suitable pair for trading.
- Choose pairs with the lowest spread and consider avoiding JPY pairs due to current currency situations.
Tips and Strategies Shared
- Some traders prefer EURUSD and GBPUSD as they move similarly, making it easier to decide which pair is stronger each session.
- Various trading strategies and advice regarding waiting for retests, buying low, selling high, and identifying potential entry points are discussed.
- Strategies such as looking for structure, avoiding unnecessary retracements, and managing trades based on fundamentals and timeframes are highlighted.
Comments on Other Trading Concepts
- Discussion on ICT (Inner Circle Trader) and SMC (Smart Money Concepts) principles, with mixed opinions on their effectiveness and complexity.
- Views on ICT/SME concepts as rebranded, repackaged, or recycled ideas, praising or criticizing the application and interpretation of market concepts within these communities.
- Criticism and support for ICT's content, with some finding value in the information shared while others raise concerns about overcomplication and lack of innovation.
- Strategies regarding liquidity, support and resistance, trend lines, and using randomness in trading are explored.
- Suggestions to focus on learning market fundamentals instead of relying solely on technical analysis or specific trading methodologies.
General Trading Advice and Community Opinions
- Emphasis on focusing on learning and mastering fundamental aspects of trading rather than relying on specific strategies or methodologies.
- Recommendations to avoid getting caught up in cult-like trading groups and to approach trading with a critical mindset.
- Mixed reactions to ICT's teaching methods, with some finding value in the content shared, while others criticize the complexity and lack of clarity in his approach.
- Advice to invest time in learning market fundamentals, backtesting strategies, and continuously improving trading skills rather than relying on quick fixes or shortcuts.
Conclusion
- The Reddit comments provide a diverse range of perspectives on trading EURUSD, discussing various strategies, opinions on trading communities like ICT/SMC, and general advice for traders starting. Opinions vary regarding the effectiveness of different trading methods, emphasizing the importance of fundamentals, risk management, and continuous learning in trading.