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There are lot of common mistakes
v
Obecné
Mar 10, 2021 at 12:34
Common mistakes are those that we make very often. Over trading, revenge trade, fear of missing opportunity and not following any money management policy are the most common mistakes.
Gambling type of forex games? Is that true?
v
Obecné
Mar 10, 2021 at 12:33
Most traders look for 80 to 100% winning strategy. But this type of strategy doesn't exit. Don't do gambling. Even a small consistent percentage can bring you a fortune in trading. We should focus on consistency.
Not gambling
v
Obecné
Mar 09, 2021 at 12:40
In forex trading, most small traders do gambling. Actually when you do not have necessary skills to make profitable trades, you end up gambling. That's why skills are important.
Every newbie should practice
v
Obecné
Mar 09, 2021 at 12:37
Every newbie should practice in their demo account. Demo trading is very much important for every newbie. Because you can know many thing from this. But many newbies think that Demo trading is really dull as they have to do this for a long time. Moreover they won't get any real money from this demo trading.
Part time trading
v
Obecné
Mar 08, 2021 at 11:53
You can trade forex for part time, that's not a problem. But you have to skilled enough to make money consistently. And it takes time and dedication to get skilled. It doesn't happen in few months.
New and undisciplined traders
v
Obecné
Mar 08, 2021 at 11:31
Even many old traders are undisciplined. This is one of the major reasons many people are losing money for a long period of time. They take a break and again invest money and again lose it.
Fear makes you
v
Obecné
Mar 02, 2021 at 12:04
Fear makes you hesitate entering a position and it is bad for you. One way of eliminating fear is through knowledge and information, if you know how your position is gonna go, then you wont have any fear in entering that position. Trader's psychology is one thing traders overlook.
Forex trading is easy for
v
Obecné
Mar 02, 2021 at 12:02
Forex trading is easy for those who have proper knowledge and experience of trading but on the other hand it is difficult for those trader to earn from Forex trading who don't have knowledge about trading and don't have experience.so if any one want to become a successful trader then he/she should have to learn Forex trading first.
Losses are a part of trading
v
Obecné
Mar 02, 2021 at 11:38
Losses are a part of trading forex. We must understand that and accept that so we don't get disappointed but if we learn to control losses and money management we will not lose that much. losing 10 pips is better than 100 pips and that is my opinion so I always use stop loss to make sure I don't lose that much. We also will always have market turning against us so its wise to take profit when we can.
Becoming a Forex Expert requires
v
Obecné
Mar 02, 2021 at 11:37
Becoming a forex expert requires that you are very successful at trading. So asking how to be a forex expert is synonymous with asking how to become very successful in trading. There are no shortcuts or any magic, just hard work, and a little bit of luck. The trader has to be able to learn from his/her mistakes to get better and increase profitability.
profits in forex trading
v
Obecné
Mar 02, 2021 at 05:00
Most traders think that trading is all about strategy. They look for it everywhere. They think there is one strategy that will make them rich. They never try to understand that the success of a strategy mostly depends on the individual it's using. Strategy is just a single component of successful trading.
Fear is the greatest reason
v
Obecné
Mar 02, 2021 at 04:58
Fear is the greatest reason for failure. Fear is a significantly compelling human feeling. Fear of losing cash in trading is extremely perilous. That is the reason controlling feelings is the way to achievement in trading. Furthermore, to control feelings you have to restrained. You likewise need to diminish your hazard and have an appropriate money management and risk management arrangement. Each individual's psychology is diverse so you need to out your own particular strategy that suits you the most.
When a trader is a newbie
v
Obecné
Mar 02, 2021 at 03:59
When a trader is a newbie in Forex , the first thing he or she should be doing to do more of the learning. The beginner traders do not know which road to take in Forex and that is why they are always getting confused, it is better when they take their practicing and learning very serious so that they can learn better.
There is a proverb that practice
v
Obecné
Mar 02, 2021 at 03:58
There is a proverb that practice makes a man perfect. Do you think that this proverb is suitable for Forex market. I think it is true. If you practice demo trading, follow the basic rules of Forex trading and thus in this way you can get proper training through this practice then you surely do better in Forex business.
Trading without stop loss
v
Obecné
Feb 28, 2021 at 14:02
Placing stop loss is an art. It's not that much easy as some people think. If your broker widen the spreads every now and then, change the broker. Other than that broker has nothing to do with your stop loss. Many times I have survived just by one or two pips. Find good broker. Stop blaming. Learn then trade.
Staying peofitable consistently
v
Obecné
Feb 28, 2021 at 13:44
Staying peofitable consistently over a longer periods of time is the key. There have been traders who have lost their years of saving in a short streak of bad trading. Money management and psychology is the key to remain consistently profit over a long time.
To be a successful trader
v
Obecné
Feb 28, 2021 at 13:41
To be a successful trader, it does not take much of pains. All what you need to do is acquire full knowledge about the economic surroundings. You should think logically about how the news would affect a particular security. A successful trader should know how to control the emotions because the emotion driven decision sometimes creates havoc.To be a successful and efficient trader, you need to start trading by opening demo account as it will help you in testing your strategies. Once you get enough confidence then start with real money.
New traders should be content
v
Obecné
Feb 28, 2021 at 13:40
New traders should be content with 1-2% profit per month on average. This requires immense dicipline from newer traders who WANT to trade and be involved. I suggest newer traders should set up 2 accounts and use one account as gambling account to satisfy these urges to trade and test new ideas out.
We should not think
v
Obecné
Feb 26, 2021 at 14:07
To be an expert, we need to spend many years in forex trading. As far as I am concerned, it is my second year of trading and I am feeling a clear difference in my trading. Now I have more options and trading tools and I am getting some decent profit also.
The demo account is the master
v
Obecné
Feb 26, 2021 at 14:06
The demo account is the master place for a beginner to acquire all basic fundamental information which is very supportive to continue a live account in a proper way. But practically most of the beginners don’t believe the importance of this trading place at all. In my trading career, I use all my trading strategies in demo trading to see the performance how it works.
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