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Mind or Machine? What’s Better For Forex Trading?
v
Obecné
Jun 07, 2022 at 09:28
There you go stating facts! I do believe that even when we have machines, we mustn’t rely completely on them. Sure, they help us make life easier. But, there is a thin line between depending on machines and using our own minds. It's always better to either find a balance between the two for better results.
Is trading hard?
v
Obecné
Jun 06, 2022 at 09:30
It is definitely hard. It is hard for those who don’t know the basics of trading. It becomes rapidly easier when one goes along the way. But to say that forex is hard is subjective; there is no specific answer to this question.
Indicators are useful but
v
Obecné
Jun 06, 2022 at 09:30
Indicators are definitely useful. But they are optional. There are several indicators that are lagging, and cannot predict future price moves. That does not make them any less useful, however. There are many who find them useful and there are many who don’t. It totally depends on the trader.
Most people fail because
v
Obecné
Jun 06, 2022 at 09:29
I think it is because they fail to build a strong risk management system that helps reduce the amount of loss they incur. Traders are mostly over confident and do not think practically. This is why many fail easily.
Demo can not make you well experienced
v
Obecné
Jun 03, 2022 at 09:29
You can practice on a demo account until you get comfortable. However, it doesn’t prepare you for the loss you feel during live trading. Demo is a good practice option to test strategies and get a larger idea. Your risk appetite will be tested when you switch to live trading.
Newcomers and demo trading
v
Obecné
Jun 02, 2022 at 09:44
Demo accounts are the key to success kind of thing for newcomers, I would say. Newcomers should practise on demo accounts as much as possible and should be patient and consistent while practising. The more they practise, the better they get to know about the platform and devise trading strategies, which will help them overcome the pressure of trading in a live account.
The fear of losing opportunity
v
Obecné
Jun 02, 2022 at 09:43
It is entirely common to have this fear. Emotions should be kept under control while trading, that is for sure. So, try to keep your emotion of fear also under control and do not let it take it over. Educate yourself enough about risk management strategies and try to implement them in your trades to minimize losses.
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