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Trading for the long-term
v
Obecné
Apr 23, 2022 at 00:52
I think it's important to figure out which works best for you. Some are better at part-time trading and vice versa. It definitely isn't a good idea to become a scalper if you also work a full-time job, but those that have a lot of free time can succeed doing so. Some also may thrive in one type of trading style while they do horribly with another. Once you figure out what kind of trader you are, things to start to fall into place.
Is CMC Markets and FP Markets suitable for beginners?
v
Noví obchodníci
Apr 04, 2022 at 16:44
Both seem to be solid brokers judging by online reviews. I haven't used them personally, but would consider it.
Broker
v
Obecné
Apr 04, 2022 at 16:42
What do their fees look like? Withdrawal times?
Very tough business.
v
Obecné
Apr 04, 2022 at 16:41
Many people are interested initially but far less people actually choose to stick with it and put in the required effort needed to see results.
Forex is not like gambling
v
Obecné
Apr 04, 2022 at 16:40
Trading seems a bit more secure than gambling once one factors in charts and other data that they are basing their decisions off of; however, we are basically betting money based on what we think will happen.
Find your Trading Coach / Mentor
v
Obecné
Apr 04, 2022 at 16:38
Getting a mentor can be helpful but there are a lot of instances where it isn't. First of all, many mentors maybe failed traders themselves. Second, you put even more money in by investing in said mentor so if you lose everything you also have to add that fee on top of it. Third, it seems like somewhat of a waste to me considering all the needed information is available online for free, so why spend money when you can teach yourself?
Trading success
v
Obecné
Apr 04, 2022 at 16:37
It's easy to dwell on losses but never helps to further your purpose. I agree with your point about making those losses into lessons. I don't think successful traders sit around and beat themselves up over every loss they take because that's just part of it.
7 Benefits of using stoplosses
v
Obecné
Apr 04, 2022 at 16:35
Always use a SL
Most people become unrealistic
v
Obecné
Apr 04, 2022 at 16:35
Agree with this 100%. Once people realize how much work goes into it, they're no longer interested. If it was that easy to get rich from trading, everyone would do it,
Fear is the greatest reason
v
Obecné
Apr 04, 2022 at 16:33
As someone who struggles with anxiety, I agree that fear can severely influence trading decisions. I missed out on a lot of opportunities early on because I was either too hesitant to enter or pulled out too early.
5 Things I have learned in 5 years of trading!
v
Obecné
Apr 04, 2022 at 16:30
I agree that there is a lot of information to learn and many of us will probably continue learning 5+ years into trading, but also thought this list did a good job of covering some of the most important information that many beginners may not know or others may learn the hard way.
How to start forex trading? Read These Best Tips!
v
Obecné
Mar 17, 2022 at 15:48
I thought this was a good, easy to follow plan for beginners. It can definitely be overwhelming without a plan.
Good broker is needed
v
Obecné
Mar 17, 2022 at 15:46
Agree with you there. A good broker should also provide quick access to support and should process fast and easy withdrawals as well without charging fees from their end.
Be productive
v
Obecné
Mar 17, 2022 at 15:44
Forex trading has the potential to be highly lucrative but it isn't guaranteed to make you any money.
There is a proverb that practice
v
Obecné
Mar 17, 2022 at 15:42
Practicing and trading on a demo account are crucial for success and I believe the more practice you have, the more prepared you will be when you open a real account. Still though, this doesn't guarantee that you will do as well trading live or that you'll make money.
Is trading hard?
v
Obecné
Mar 17, 2022 at 15:40
I would say that trading is difficult in general, although it is more difficult for some than others. For example, some learn quickly and others have a harder time grasping all of the concepts. Some become consistently profitable sooner than others. I think we all run into problems and even the best of traders end up feeling frustrated at times.
LOW risk
v
Obchodní systémy
Mar 17, 2022 at 15:38
Hi! Did you want to discuss low risks in trading?
Anyone Trading For A Living?
v
Zkušení obchodníci
Mar 17, 2022 at 15:28
I started trading as a way to bring in extra income. My husband works as a welder with a guaranteed 40 hour workweek, so we would have income without the trading, but I'm able to help pay on some of our main bills with the money and it gives us some extra spending money. In the future, I hope to bring in even more money and to dedicate more time to it, but it's difficult now because I have 3 small children and can't always focus or put in the time needed.
What's your recommendations on brokers for scalping? Based on experience
v
Zkušení obchodníci
Mar 17, 2022 at 14:01
Hugosway is great for scalping in terms of low spreads and fast execution. Plus there are other perks, like same-day withdrawals, 24/7 support, and so on.
USDJPY set up ideas and trades
v
Zkušení obchodníci
Mar 11, 2022 at 16:30
I like the idea, I'll be following along to see how it plays out.
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