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samuel Adeniyi
@youngancient
Last seen:
4 weeks ago
Just a chill guy♥️
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The main thing you should know is that Japan keeps interest rates near zero (or very low), so borrowing yen is "cheap"
Investors borrow yen, convert it to USD/AUD/NZD/GBP, and invest in assets offering higher yields (bonds, deposits, etc.)
They pocket the difference between what they pay to borrow yen and what they earn on the higher-yielding currency — this is the "carry"
But money and knowledge are important but I will advice you go for the knowledge first because without the knowledge, you will just keep wasting your money over and over and the market doesn't care.
Well, you are right many people believe trading Forex can get them the money they want fast...it could happen but sometimes it doesn't work that way...
It takes a longer time.
7. No major news/event risk nearby
Check an economic calendar. A great technical setup can get blown apart by an earnings report or central bank announcement.
6. Fits your plan and timeframe
A setup should match your trading style (scalping, day trading, swing trading) and your predefined rules — not something you're forcing because you're bored or chasing a loss.
5. Good volume/liquidity
Make sure there's enough trading volume so you can enter and exit without big slippage.
4. Confluence — multiple signals lining up
Look for 2-3 things agreeing at once, such as:
Price at a key support/resistance level
A trendline or moving average lining up
A candlestick pattern (engulfing, pin bar, etc.)
Volume confirming the move
3. Favorable risk-to-reward ratio
As covered earlier, you want your potential reward to be at least 2x (or more) your risk. If the math doesn't work even when you "win," skip it.
2. Defined entry, stop-loss, and target BEFORE entering
If you can't clearly mark where you'd enter, where you'd bail if wrong (stop-loss), and where you'd take profit (target), it's not a setup yet it's a guess though
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