Forex Tips

May 06, 2019 at 07:53
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109 Replies
Member Since Aug 09, 2017   785 posts
May 06, 2019 at 07:53
particularly before starting trading , we consider this stock exchange as a casino and try to bring profit very rapidly without learning , but in practical there is no short cut way of earning and success in long time process in here.  
Member Since Aug 11, 2017   886 posts
May 07, 2019 at 07:29
generally the target we select is not realistic, this is the main problem we have and for that reason we cant fill up our target completely,  we have to make sure the target according to our knowledge and experience , over targeting make make us always greedy and emotional. so be careful    
Member Since Aug 11, 2017   886 posts
May 09, 2019 at 07:32
greed is a common attitude that we cant avoid , actually i cant see any difference between greed and emotions , greed comes from emotions which always causes a great risk when trading.  
Member Since Aug 09, 2017   785 posts
May 09, 2019 at 08:20
In Fx trading, learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme
Member Since Apr 23, 2019   32 posts
May 13, 2019 at 06:08
1. Know yourself. Define your risk tolerance carefully. Understand your needs.
To profit in trading, you must recognize the markets. To recognize the markets, you must first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to forex and trading are not excessive or lacking. This means that you must carefully study and analyze your own financial goals in engaging forex trading.

2. Plan your goals. Stick to your plan.
Once you know what you want from trading, you must systematically define a time frame and a working plan for your trading career. What constitutes failure, what would be defined as success? What is the time frame for the trial and error process that will inevitably be an important part of your learning? How much time can you devote to trading? Do you aim at financial independence, or merely aim to generate extra income? These and similar questions must be answered before you can gain a clear vision necessary for a persistent and patient approach to trading. Also, having clear goals will make it easier to abandon the endeavor entirely in case that the risks/return analysis precludes a profitable outcome.

3. Choose your broker carefully.
While this point is often neglected by beginners, it is impossible to overemphasize the importance of the choice of broker. That a fake or unreliable broker invalidates all the gains acquired through hard work and study is obvious. But it is equally important that your expertise level and trading goals match the details of the offer made by the broker. What kind of client profile does the forex broker aim at reaching? Does the trading software suit your expectations? How efficient is customer service? All these must be carefully scrutinized before even beginning to consider the intricacies of trading itself. Please refer to our forex broker reviews to find a reliable broker that suits your trading style.

4. Pick your account type, and leverage ratio in accordance with your needs and expectations.
In continuation of the above item, it is necessary that we choose the account package that is most suited to our expectations and knowledge level. The various types of accounts offered by brokers can be confusing at first, but the general rule is that lower leverage is better. If you have a good understanding of leverage and trading in general, you can be satisfied with a standard account. If you’re a complete beginner, it is a must that you undergo a period of study and practice by the use of a mini account. In general, the lower your risk, the higher your chances, so make your choices in the most conservative way possible, especially at the beginning of your career.

5. Begin with small sums, increase the size of your account through organic gains, not by greater deposits.
One of the absolute best tips for trading forex is, to begin with, small sums, and low leverage, while adding up to your account as it generates profits. There is no justification for the idea that a larger account will allow greater profits. If you can increase the size of your account through your trading choices, perfect. If not, there’s no point in keeping pumping money to an account that is burning cash like a furnace burns paper.
Member Since Aug 11, 2017   886 posts
May 16, 2019 at 08:33
Forex trading business is much better option than any other profession! Forex trading business is also available for the part time Forex trader, since market is open for 24 hours! BY the way, Forex business is not appropriate for the greedy people who want to make quick success here!
Member Since Aug 09, 2017   785 posts
May 17, 2019 at 11:47
generally cent account is more appropriate for beginners level besides pre school level. but not for mature beginner.
Member Since Oct 20, 2018   300 posts
May 19, 2019 at 09:59
Imamul posted:
particularly before starting trading , we consider this stock exchange as a casino and try to bring profit very rapidly without learning , but in practical there is no short cut way of earning and success in long time process in here.  

everything considered as a casino Is pure gambling and every gambling is not profitable In long term. 😁
momchil_slavov@
Member Since Aug 11, 2017   886 posts
May 21, 2019 at 08:51
in Fx The broker can affects the result of our trading with certainly, so choosing a broker should be in cool mind , please don’t choose a broker in an emotional state, it would be great if we choose the broker which is more appropriate to the concept of trading that will be used , the traders who are particularly scalpers have to choose the broker which allows trading concept such as this.
Member Since May 13, 2019   1 posts
May 21, 2019 at 10:04
Here's a great tip - I would start with automated trading with Expert Advisor which has at least a couple of months confirmed stats with successful trading.

Me personally - I bought a robot for myself which works based on AI (neural net) and has confirmed myfxbook stats with 1+ year of trading and +273.69% of yearly profit.
I'd be happy to share info in PM if anyone's interested (I assume I cannot post any links here).
Trading with EA based on AI brings me 15%+ ROI per month - PM me for details.
Member Since Aug 09, 2017   785 posts
May 22, 2019 at 10:02
in Fx only randomly trading not means casino ,  to bring profit from casino is also a great skill but we don't support this skill , because its not legal , trading and casino there is no different if we greedy and emotional. so, we have to controlled our bad trading habits by discipline. 
Member Since Apr 23, 2019   32 posts
May 23, 2019 at 04:24
Here are twenty forex trading tips that you can use to avoid disasters and maximize your potential in the currency exchange market.
Know yourself. ...
Plan your goals. ...
Choose your broker carefully. ...
Pick your account type, and leverage ratio in accordance with your needs and expectations.
Member Since Aug 09, 2017   785 posts
May 23, 2019 at 09:25
every time is best in Forex trading if you know how to manage money but for the beginners level it is more appropriate to avoid news trading , its too much complicated to predict the real faction of this market with certainly. 
Member Since Apr 30, 2019   10 posts
May 23, 2019 at 09:58
Times of low volatility can be difficult to trade as well. Price movements can be erratic and spreads large. Newbie should stick to busier sessions
Member Since Aug 09, 2017   785 posts
May 24, 2019 at 09:58
its very practical and common attitude for beginners level , due to having emotions they cant survive when kick off a live trading , in practical there is no way to stop emotions at all , but only by regular practicing with discipline it can be controlled of course.    
Member Since May 24, 2019   10 posts
May 26, 2019 at 06:49
Best way I find to reduce emotion is to use demo, then small live account, then bigger account. Slowly, slowly get bigger account.
Member Since Aug 11, 2017   886 posts
May 27, 2019 at 10:53
every time is best in Forex trading if you know how to manage money but for the beginners level it is more appropriate to avoid news trading , its too much complicated to predict the real faction of this market with certainly. 
Member Since Aug 09, 2017   785 posts
May 27, 2019 at 12:00
as a newcomer , learning Forex now already easy actually because many source we can learn and read from these sources , yes Baby pips is almost popular website among trader to learn Forex on school tab section , but also will very important while learn on theory also use demo account to practice .
Member Since Jan 03, 2018   162 posts
May 27, 2019 at 14:19
ya damn right about babypips but stilll need the effort to learn not sure that they want to do that(new comers or newbies)
nick123427@
Member Since Aug 09, 2017   785 posts
May 28, 2019 at 11:10
all currencies in Forex trading are good, just we have to experience with them by trading . We can trade all major currency in our demo account. Because we can see here the pairs performance how it works.
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