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What makes one a Professional Trader?
v
Obecné
Nov 04, 2022 at 04:44
In my opinion, I think a trader becomes professional when he gains control over his emotions. Emotions play a vital role in forex. Trading with emotions such as fear of losing, causes anxiety. Emotions like anger of losing a previous trade causes the trader to over-trade and revenge trade, thereby risking losing more capital. When a trader is emotionless, he doesn’t let fear, greed, anger, and anxiety block logical thinking and analysis. Henceforth, traders become more efficient in making profits.
Demo can not make you well experienced
v
Obecné
Aug 12, 2022 at 08:08
Demo trading is helpful for letting a newbie thoroughly test his strategy to find a profitable price range as to when he should enter and exit a trade. Which is why trading is a demo that can help a newbie to improve technical analysis, risk management, and fundamental analysis. However, as no real money is involved, the trader does not feel any emotional attachment to the money he is trading (which is fake money). This does not help the trader to develop his trading psychology and money management skills. This is the reason why many beginners who made good profits in demo trading, failed in t...
Is Forex risky?
v
Obecné
Aug 12, 2022 at 08:08
Yes, forex trading is definitely risky. What contributes to its risk factor is high volatility, unpredictability, and market range. But with proper risk management, you can reduce the amount of capital you are risking to lose, and with correct analysis, you can make almost accurate predictions of the future market movement direction.
Can you borrow money from the bank to trade forex?
v
Obecné
Aug 09, 2022 at 07:20
Borrowing money just to trade does not sound great to me. It means that you are impatient, and you are trying to get rich quickly overnight. This can never happen. Just open your eyes and watch how much effort is required to trade in the world of forex.
Most people fail because
v
Obecné
Aug 09, 2022 at 07:19
Most people fail because they don’t take forex trading seriously. They think that forex trading is very easy or that forex can make them earn money in no time. They don’t practice and learn for long enough and fail.
5 Things I have learned in 5 years of trading!
v
Obecné
Aug 09, 2022 at 07:19
In forex trading, I've learned that having the right knowledge, being consistent, and being patient are all crucial.
How much should you invest in trading
v
Zkušení obchodníci
Jul 01, 2022 at 04:05
It all depends on your risk tolerance and goals. But if you're just getting started in forex, it's not worth risking a lot of money.
Is forex is best source of income?
v
Noví obchodníci
Jul 01, 2022 at 04:04
I do think that forex is a great source of income for a lot of people, it has provided a great medium for many of us to earn money online. But how well we do it totally depends on our skills and hard work.
Any 500 to 1 leverage brokers left?
v
Obecné
Jun 29, 2022 at 12:14
Many brokers provide 500:1 leverage, but it’s important to use a broker that offers dynamic leverage. I’m trading with coinexx and lqdfx, both offer a maximum of 500:1 leverage, but I never go beyond 300:1.
scalping easy ?
v
Noví obchodníci
Jun 17, 2022 at 06:39
Scalping is only profitable if you really know what you are doing. It is difficult, contrary to popular beliefs that is an easy strategy to begin with.
Does forex strategies usually work>
v
Obecné
Jun 17, 2022 at 06:36
Strategy is not a myth. The term strategy actually comes from the military and someone in the army would define a strategy as an art of planning and directing the army unit’s movements towards the enemy. It is impossible to win a war in the absence of an effective strategy. Planning in advance for what might happen in order to attain the best possible result is the essence of strategy. When we talk about forex, a trading strategy is a technique used by a trader that helps them to pick up a trade that will result in profits. The strategy can be based on fundamental and technical analysis....
Diffrence between real & demo trading
v
Noví obchodníci
Jun 14, 2022 at 06:13
The difference is fairly simple. Demo does not involve the psychology development needed for trading live as no real money is involved. Whereas, a real account involves real money and also affects the trading psychology.
How long does it take one to be consistently profitable with forex trading
v
Noví obchodníci
Jun 13, 2022 at 08:43
Honestly, It took me more than 4 months but it was worth it in the end. And I am still learning.
Consistency is the brick
v
Obecné
Jun 10, 2022 at 04:59
This is why no pro traders advise new traders to focus on making money, rather focus on becoming consistent so that you can make profits for a long time.
Newcomers and demo trading
v
Obecné
May 16, 2022 at 04:16
I don’t think there are any traders who didn’t practice on their demo accounts before live trading. It’s not advised to take the plunge even before you know what it is.
Various Reasons why ppl use a lot of brokers.
v
Obecné
May 12, 2022 at 09:50
I’m using coinexx for forex trading and etoro for crypto trading.
There is a proverb that practice
v
Obecné
May 09, 2022 at 05:11
This proverb totally applies to forex trading. You cannot be successful without practice, and you cannot possibly take shortcuts and not put in effort when it comes to this.
Mind or Machine? What’s Better For Forex Trading?
v
Obecné
May 09, 2022 at 05:09
Great article! I completely agree. Part of learning forex and growing as a trader is doing it yourself, without the help of a machine.
Forex market offers great opportunity
v
Obecné
May 06, 2022 at 04:13
Forex opportunities become mere market movements if you don’t understand how to take advantage of them. Learn to identify market opportunities and make use of them correctly.
The fear of losing opportunity
v
Obecné
May 05, 2022 at 05:28
I have seen newbies open positions in nearly every trade they come across. I don’t understand why they feel that they will miss their bus if they don’t open a trade now. They need to follow their plan and not trade until they can stick to it.
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