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There is a proverb that practice
in
Allgemein
Jun 27, 2022 at 04:26
The proverb is definitely apt for forex trading. In forex no amount of practice can take a trader to perfection as the market is highly volatile and changing. Still they can reach their full potential through continuous learning and practice. Forex trading is a risky venture and requires lots of hard work on the trader’s part.
How long does it take one to be consistently profitable with forex trading
in
Neue Trader
May 13, 2022 at 03:57
It can take years for one trader to start making regular profits while another trader may achieve this in weeks or months. It all depends on one’s potential and learning power. So it is difficult to say a definite time period after which you will be profitable in forex trading. The more you learn and practice, the more you grow. Never go for shortcuts for overnight success. Just focus on getting better at trading and there is no need to compete with others. Learn and grow at your own pace. Patience and consistency is the key to success for a forex trader.
Does forex strategies usually work>
in
Allgemein
May 12, 2022 at 04:01
Obviously, strategies work because that’s why traders have been able to make money. But I am not saying that all strategies equally work for all traders. You have to find a strategy that works for you.
5 Things I have learned in 5 years of trading!
in
Allgemein
May 11, 2022 at 04:25
Don’t believe what others say. Find your reasons to trade and not to trade.
How does experience come?
in
Erfahrene Trader
May 09, 2022 at 03:58
It takes a lot of learning, practising, trading, profits, and losses to make you experienced. You will make mistakes while moving ahead but when you learn to take lessons from your mistakes, you take your first step towards becoming profitable.
Books or Videos - Which one is better for learning?
in
Neue Trader
May 09, 2022 at 03:57
I don’t see them as two options. Both are good learning resources and you must not restrict yourself from taking advantage of the information they share.
Broker
in
Allgemein
May 05, 2022 at 12:10
Pepperstone, icm, fxview and fxtm are some good broker options with low trading cost plus they offer swap-free accounts as well.
Signa providers
in
Neue Trader
May 03, 2022 at 06:31
Don’t trust fake signal providers. They will take your money and send false signals to make you lose. It’s better to analyse the market on your own and plan your entry and exit. You may incur a loss, but you will know what went wrong and what needs to be improved. It’s better than following fake signals blindly.
How to Avoid Forex Losses In Forex Trading?
in
Neue Trader
Apr 12, 2022 at 06:18
It would not be possible for anyone to share mantras that guarantee no losses in forex trading because they are unavoidable. But yes, you can work on improving the number of your profits so that you are in profit overall.
Learning Forex Trading
in
Neue Trader
Apr 11, 2022 at 07:09
It’s not easy to be called a successful trader in the forex market. It takes years of continuous effort and trading to become successful at trading forex. You will have to learn even when you think you have completed your course. You have to practice even if you have already made some profits. It’s just because learning never stops when you are a forex trader.
Be productive
in
Allgemein
Apr 08, 2022 at 08:16
The only way to do this is to learn and continue building knowledge. Improve your skills as you grow and maintain discipline. The market fluctuates and is not close to predictable. Know your trading strategy and heighten your senses to pick up opportunities as they come.
What is Pip ?
in
Neue Trader
Apr 08, 2022 at 08:14
Pip is a point in percentage, it determines a price move in an exchange rate. It mostly happens when the market shifts. To get a better idea, watch a few informative videos.
Greed is poison
in
Neue Trader
Apr 07, 2022 at 04:29
To some extent, we have all been greedy because that’s why we came into the forex market. We all thought of making money. In fact, that’s what we work for day and night. But when greed becomes the sole reason for you to open and close trades, it becomes dangerous. Greed should not blur your trading decisions to an extent that you start overlooking other factors.
90% are loser ..why ?
in
Neue Trader
Apr 07, 2022 at 04:22
There are so many reasons that contribute to the failures of traders in the trading market. Some of the major reasons that I can think of include curiosity to make money, not studying properly, opening large trading positions, and using high leverage. Sometimes, the reasons can be highly specific to individuals like not being able to understand the market moves and still opening a trading position.
Forex Trading Psychology: Levels of FEAR
in
Erfahrene Trader
Apr 07, 2022 at 04:17
The traders are either the most fearful in their first trades or become more fearful with time. The former is too scared to use their real money to trade. On the other hand, the latter are too excited to make money that they take big risks in the beginning and when it goes out of control, they are too scared to use more money.
GOLDEN Rules of Profitable Trader's
in
Erfahrene Trader
Apr 06, 2022 at 06:37
Stop loss and take profit are the safety gears that you use while trading forex. It might seem boring to calculate them but they must not be overlooked in any way. The other important thing is not risking more than 1% of your total trading capital per trade. You really need to plan all that you do in the live market.
Which pair do you use?
in
Neue Trader
Apr 05, 2022 at 05:55
I also trade GBP/JPY. The value of this pair is mostly influenced by stocks and commodities and are easy to predict.
Best currency pair for trading
in
Neue Trader
Apr 05, 2022 at 05:52
All the major currency pairs are good for trading. It is suggested to trade with one of the major currency pairs. Many traders, especially new traders use EUR/USD due to the tight spreads and more predictable nature.Though I prefer trading GBP/JPY.
Is a demo account really neccassary?
in
Neue Trader
Apr 04, 2022 at 05:51
There’s obviously no compulsion but it’s good to practice on a demo account before trading in the live market. Along with clearing your basic doubts, it builds confidence in trading and prepares you for the live market.
lost
in
Neue Trader
Apr 04, 2022 at 05:47
The good thing about forex trading is that it is flexible. You can set rules in accordance with your trading requirements and when they don’t seem to work, you can change them as per your needs.
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