Meatus's Posts | Myfxbook

Broker Recommendation - Low slippage brokers في التجار ذوي الخبرة Dec 19, 2022 at 11:17

Sorry but zero slippage is near to impossible in real time market conditions. You will have to settle for minimal slippage possible. In my experience ECN brokers can be trusted in this regard. I have been trading on aaafx & fxtm both have solid trading conditions and deep liquidity which ensures minimal slippage.

Why are some traders successful? في عام Dec 12, 2022 at 10:44

By focusing on risk management and trading psychology, a trader can become successful. Other factors, like choosing the right broker, the right indicators, and the right trading strategy, are crucial too.

WHY I HAVE A ''LOSS'' PLAN في عام Dec 07, 2022 at 09:27

This is definitely one of the best pieces of advice I ever got. Losing is a part of the trading process, yet, it should be planned, as to setting a loss target for a day after which you do not trade for the time being until and unless you find out your mistake, and rectify it.

Is investing in the forex market risky? في عام Dec 06, 2022 at 06:01

Yes. Investing in any kind of financial market is risky, because it carries the threat of losing your money. The reason why people think the forex market is the riskiest, because not many people have complete knowledge about it, and secondly, forex trading successfully involves taking into account a lot of factors. Beginners find it tough, and traders without the right mindset, term forex trading as risky.

90% are loser ..why ? في المتداولون الجدد Aug 16, 2022 at 04:16

The figure is debatable, but a high number of traders lose money in the forex market. But this doesn’t stop you from becoming successful. If your technical and mental skills are aligned, then you can become a successful trader.

Patience is best tool to get success في المتداولون الجدد Aug 10, 2022 at 05:34

Patience is important while trading in financial markets. Moreover, acquiring trading knowledge is a long process. And if you can’t keep up with consistency and patience, you can’t become a successful trader.

Can you borrow money from the bank to trade forex? في عام Aug 10, 2022 at 05:34

I would never ever recommend you to do so. This is one of the craziest thoughts one must have ever thought. Thinking and seeking advice isn’t wrong but doing this would be a dumb thing. Only and always invest your own money in the market, no matter whether it is more or less. The reason is very simple, there is no guarantee that we always get gains from the forex market and there may be some losses we have to face.

Are there brokers with no withdrawal fees? في Aug 08, 2022 at 08:20

Trading with aaafx and xm for a while, both offer quick withdrawals and don’t charge any fees.

You need sound mind في عام Aug 04, 2022 at 07:09

Every trader is different and they undergo several emotions. When trading forex it is important to be mentally fit else we can face severe losses. To keep emotions under check, formulate your trading strategy based on your needs and market knowledge. Identify and set up your risk levels and benchmarks on when to enter and exit. Keep revising the plan time and again to ensure you are on the right track.

Is forex is best source of income? في المتداولون الجدد Jun 15, 2022 at 05:55

Forex trading is surely a rewarding career but it may not be the one for everyone. You should have some risk bearing capacity to become a forex trader. Also it takes some time to become profitable. Trading is not an easy job but you can find an edge with knowledge and skills.

5 Things I have learned in 5 years of trading! في عام Jun 15, 2022 at 05:49

We always learn a lot of things from experience in the forex market. I will list down some things I learned as a forex trader.1. Knowledge and skills give you an edge2. Risk management is the backbone of a trading account3. Emotional trading always lead to losses4. There are no shortcuts to success in forex and anyone who says that might be a scammer5. Discipline, consistency and patience should be developed for becoming a successful trader in the long run.

Which pairs are your least favorite to trade? And why? في المتداولون الجدد Jun 15, 2022 at 05:48

I usually stick to the major pairs. I am ok with trading with cross pairs but always stay away from exotic pairs. They are just too tricky to trade with.

money manage and leverage في المتداولون الجدد Jun 14, 2022 at 06:56

Money management and risk management are 2 major components for success in forex. You cannot survive in the market if you are unable to manage your capital and risk. The 2% rule is very valid and should be followed by all in order to keep your drawdown in limit.

How long does it take one to be consistently profitable with forex trading في المتداولون الجدد Jun 14, 2022 at 06:56

The length of time it takes to become a profitable forex trader varies from person to person. To become consistently profitable took a long time for me, maybe 5 years or so. You have to be extremely systematic with a lot of discipline which took the longest for me. The market is always changing, therefore it's only normal to change your plan and learn how to spot a good trend. You won't be able to totally avoid risk, so stay vigilant and diligent. I recommend finding a strategy. There are plenty of free ones out there, open a demo account, and begin practising. Once you nail down the ...

Most people become unrealistic في عام Jun 13, 2022 at 09:20

Most of the people are often in the myth that they’ll be earning quick money from forex. It's quite unrealistic to expect overnight success in Forex trading. Similar to other professions, it will require time to master the markets and become profitable in them. Unrealistic expectations regarding trading may do worse than good as traders can commit mistakes while trying to achieve their unrealistic targets. Expectations in forex should be judged with different variables: account size, the timeframe to become successful, and your trading abilities.you cannot expect to become a highly s...

Demo Trading Advantages في عام Jun 13, 2022 at 09:19

The best thing about forex trading is that you can practise on demos before you invest real money. Practising forex trading with no risk gives you the opportunity to learn the basics of the market from the ground up. New strategies or currency pairs can also be tested. In addition, you don't have to put any money at risk in order to do all of this.

Money Management Tips في المتداولون الجدد Jun 13, 2022 at 09:19

Managing your money is essential if you want to succeed in the forex market and build a successful career. When it comes to making money in forex, this is the most important thing you can do. Risk management includes money management, which is critical for all traders.

Fundamental works 100% في عام Jun 10, 2022 at 07:09

If I have to say this loud and clear, technical and fundamental analysis both are important to succeed in the process of trading. A trader must ahem the knowledge pertaining to both to be able to use whichever one works as the situations change.

How much should you invest in trading في عام Jun 09, 2022 at 05:32

No matter how many times beginners ask this question, at the end of the day, it depends on each person’s individual budget and plan and how much they wish to spend according to their financial situation. Of course, expectations should be achievable.

Ready made strategy doesn't في عام Jun 07, 2022 at 09:29

The best way to learn how to trade is by building your strategy. When you create a system, you are aware of the drawbacks and the outcome you desire to achieve. When you work hard to achieve a certain thing, you no doubt will succeed, because you hold all the information necessary having complete control to turn things around. Readymade strategies may work but not for the long term.

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