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The dark side of forex markets
in
Neue Trader
Jun 17, 2022 at 07:20
Whenever forex comes to our minds, we think of money, we think of luxury and whatnot, forgetting what it takes to be successful in the world of forex. As enchanting as it may seem, forex is risky. And risk management remains one of the most important skills to learn when it comes to forex.
Trading for the long-term
in
Allgemein
Jun 16, 2022 at 07:34
True that! Oftentimes, we forget about the vital fact that it all depends on how we play the game, how much knowledge we have, and how we apply it and tweak it wherever possible. We sometimes enter into the world of forex without knowing or calculating the risks involved and then losing it all.
Can forex trading make you rich ?
in
Allgemein
Jun 16, 2022 at 07:33
I don’t think forex trading must be blamed for your losses when you can’t appreciate it for your profits. It’s always your skills that result in your profits and losses.
Free sources of professional Forex education
in
Allgemein
Jun 13, 2022 at 09:01
There is free forex education all over the internet. School of pipsology is my favourite to learn. You can also watch youtube videos to see how trading is done. For queries, you have several forums to get answers to your queries.
5 Things I have learned in 5 years of trading!
in
Allgemein
Jun 10, 2022 at 05:20
1. Do not believe every opinion about the forex market.2. A strategy is something that you gain by doing trading in the market, no matter if it is on a demo account or a live one.3. Learning is an endless process 4. You need to chase realistic goals only.5. Trading is not a get-rich-quick scheme; patience is mandatory.
The fear of losing opportunity
in
Allgemein
May 24, 2022 at 06:54
Fear of losing money is a shared emotion among traders. If not controlled, this could cause problems in your trading.To control it, traders should devise a plan and trading rules that can help them build confidence. It usually begins with starting trading with small trades.
Forex market offers great opportunity
in
Allgemein
May 24, 2022 at 06:53
That’s for sure. Forex is a highly liquid market, giving a myriad of earning opportunities. However, to benefit from those opportunities, you should know how to make use of them, which comes with practice and time.
What's your recommendations on brokers for scalping? Based on experience
in
Erfahrene Trader
May 20, 2022 at 14:33
For scalping, I’d recommend coinexx, eaglefx and trader’s way, as they offer tight spreads and fast trade execution.
Does forex strategies usually work>
in
Allgemein
May 09, 2022 at 05:27
They work but not always! Strategies fail because they remain no longer applicable to the currency market situations. Since forex is a dynamic market, traders have to be flexible with their strategies. So they can trade as per the market situations.
Forex is not like gambling
in
Allgemein
May 03, 2022 at 06:29
Forex is a speculative market, but that doesn’t mean you will make money with pure guesswork. Forex trading demands skills and hours of practice and study. It requires a method, which certainty is not the case with gambling where everything is a fluke. Hence, they both are different.
How much money can I expect to make from trading?
in
Allgemein
Mar 28, 2022 at 06:55
There are certain factors that you have to consider to know how much you can make in forex. The factors include your trading knowledge, risk management, trading psychology, success rate of your trading strategy, and all other factors related to trading.If all the factors are aligned in trading, there is a great earning potential, as long as you also have a good trading capital.
90% are loser ..why ?
in
Neue Trader
Mar 24, 2022 at 06:33
Reason why forex traders lose money- 1) Failure To Manage Risk2) Giving it to Greed3) Buying a System4) Thinking it is easy to trade
Demo Trading Advantages
in
Allgemein
Mar 22, 2022 at 07:29
The biggest advantage of a demo account is that you can trade in a risk-free environment and be flexible in your thinking to create workable strategies. Moreover, when you demo trade with multiple brokers, you also get an idea about their trading conditions, which can help you choose a good broker as per your needs.
Which pairs are your least favorite to trade? And why?
in
Neue Trader
Mar 21, 2022 at 06:11
Most traders avoid trading with exotic pairs because they have high volatility and high spreads. However, some people do trade with them but they have more expertise. Personally, I do not trade pairs like USD/SEK, EUR/TRY, and USD/HKD.
Diffrence between real & demo trading
in
Neue Trader
Feb 18, 2022 at 05:00
A demo account is a practice account where traders test out trading strategies and build trading skills. A demo account is a risk-free account because traders trade with virtual money. Such accounts are generally free. A live account is the opposite of a demo account. Here, traders trade with their own money and participate in the moving market. There are different types of real accounts. For beginners, a micro account is the best to get started.
What Are Your Golden Rules?
in
Neue Trader
Feb 18, 2022 at 04:34
Some of the golden rules of trading that I follow- 1) Do not risk more than you can afford to lose2) Do not risk more than 5% per trade3) Learn to minimise risk 4) Always have a trading plan and follow it5) Learn to control emotions 6) Never stop learning and always backtest your strategies.
Good broker is needed
in
Allgemein
Feb 16, 2022 at 11:24
I use Coinexx. They are good, lower costs and most importantly easy withdrawals.
scalping easy ?
in
Neue Trader
Feb 15, 2022 at 05:03
Quite the opposite! I think scalping is a difficult trading strategy because traders have to execute a series of trades to make sustainable profits. And traders need to be quick thinkers. Successful scalpers have good exit strategies and follow strong risk management methods.
Is a demo account really neccassary?
in
Neue Trader
Feb 14, 2022 at 05:26
Trading psychology is critical in a trader’s journey because it impacts trading decisions. So a micro account is a good place to begin for traders. But what is the point of directly trading live if you are neither familiar with the trading platform nor have the skills? Demo accounts are not perfect; however, they are good for inexperienced traders to develop some understanding of the market. New traders should trade with micro accounts once they have some clarity of the market.
You need sound mind
in
Allgemein
Feb 14, 2022 at 04:44
A sound mind is the basic requirement of forex trading. Good decisions are only possible with a sound mind. A disturbed mind will always hinder a trader's ability to go the right way.
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