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How to trade effectively in forex?

Nov 09, 2020 at 09:47
Vues 2,409
63 Replies
Membre depuis Jul 20, 2020   posts 232
Nov 09, 2020 at 12:51
Forex is the best way to make money. but to make money you need to know all the basics of forex. So, gather all the basics of forex first, than invest in the forex market to earn money.
Membre depuis Jul 20, 2020   posts 298
Nov 10, 2020 at 01:30
Every trader should stay away from trading in volatile situations. And even if you get the opportunity of a good trade, you need to manage the trade and trade.
Membre depuis Sep 18, 2020   posts 31
Nov 10, 2020 at 07:17
One thing that I would tell you is that though forex offers great opportunities of money making, yet profitability takes time and hence you need to be really patient and focus on learning more as a beginner.
Membre depuis Sep 30, 2020   posts 28
Nov 10, 2020 at 12:02
Books. Learn more. If you have the right knowledge, you are in a better position to evaluate what’s being suggested to you.
Membre depuis Oct 12, 2020   posts 38
Nov 11, 2020 at 05:29
Bladiminmunro posted:
many thanks, appreciate the info @4th response profile. Can you please tell me if I have to pay for demo account? And with which broker?
No, the demo accounts are cost free. I assume all brokers provide it without any charges.
I am actually using two accounts - one with vantage fx and other with fxview. That one incident of me losing the entire amount happened when I had the lost trade in one of my sessions a couple of months ago. That time I was day trading with fxview and lost a whopping 4500 USD. That was too close to blow up my account and owing money, but fortunately didn’t go beyond the balance I was holding in my deposits. Moreover NBP is now mandated by EU Financial authorities.
Membre depuis Jul 20, 2020   posts 341
Nov 11, 2020 at 20:59
trading is not a game. If you want to become successful in the market, you have to learn all the basics of forex perfectly.
Membre depuis Oct 15, 2020   posts 37
Nov 12, 2020 at 04:16
another thing - don’t step back if you want to be consistent with even the slightest profit margins.
Darren Flynn (4xSolutionsza)
Membre depuis Sep 27, 2018   posts 5
Nov 12, 2020 at 09:01
Start by subscribing to the youtube channel,

The information provided here is very detailed.

There is no indicator, or robot that will make you consistently or sustainably profit over many years. The only way to be a true investor in Forex is to teach yourself with the right material. All those marketing, their 10 houses, Ferraris, Lambo's, Holiday in paradise. Are selling you something unrealistic as a new trader.

You can also join our Telegram group for more advice:

Be your own best investment.
Membre depuis Oct 13, 2020   posts 34
Nov 12, 2020 at 10:13
Backtesting is crucial. Whenever you create a new strategy or using an automated one, test it once on the currency pair you want to trade. I have been doing it for USDCAD with Axitrader. I suggest to use less volatile pairs at first and then step to exotic pairs. I didn’t trade with AUDUSD as I wasn’t much convinced with the historical data I downloaded. You can do it on either of the platforms - mt4 or mt5.
Membre depuis Aug 17, 2020   posts 123
Nov 12, 2020 at 15:55
I also think that no newbie should quit their job and try trading full-time rightaway. There is a lot to learn and practice before you can get consistently profitable, and it also takes capital to be able to start to make a living. As a long-term plan, though, trading instead of working a job you don't love sounds great, good luck with it!
Membre depuis Jul 19, 2020   posts 318
Nov 14, 2020 at 11:27
The most important thing in the forex market is knowledge. Without proper knowledge, you can not make money from this market.
Membre depuis Oct 15, 2020   posts 37
Nov 16, 2020 at 03:50
I am not sure if Axitrader supports mt5.
Membre depuis May 24, 2019   posts 10
Nov 16, 2020 at 11:50
As has been said above to be effective at trading (or anything) you need knowledge. Without that you are just gambling. I am trying to learn (and take my time about it), rather than just jump in and loss all my money on high risk trades
Membre depuis Nov 02, 2020   posts 57
Nov 16, 2020 at 14:13
You can still make good money at the professional level with the broker Amarkets, which offers RAMM service and good trading conditions
Membre depuis Oct 30, 2020   posts 24
Nov 17, 2020 at 07:53
AniLorak posted:
i like to depend on Forex , because its really a royal business than others. generally we the take Forex as money making place  and this greed comes from making profit from demo account. 
Agreed, demo trading somewhere, does make every trader think that he has become 100% efficient, not knowing that live trading is so much different.
Membre depuis Nov 07, 2020   posts 34
Nov 26, 2020 at 04:58
When you are knowledgeable, you are already prepared for the typical situations. And when you are overconfident, you miss even the most obvious steps.
Membre depuis May 24, 2020   posts 112
Nov 29, 2020 at 12:00
Indeed, sometimes overconfidence does not allow us to notice the obvious things.
Membre depuis Oct 15, 2020   posts 59
Dec 02, 2020 at 09:13
Duktilar posted:
Indeed, sometimes overconfidence does not allow us to notice the obvious things.
I think every trader should undertake trading psychology courses that are being offered these days. They might help to an extent.
Membre depuis Mar 23, 2020   posts 63
Dec 03, 2020 at 11:11
Gareylinn509 posted:
When you are knowledgeable, you are already prepared for the typical situations. And when you are overconfident, you miss even the most obvious steps.
Agreed. That line between confidence and over confidence just makes all the difference.
Membre depuis Jul 27, 2020   posts 81
Dec 03, 2020 at 12:28
Only your own strategy and desire to achieve a good result can bring efficiency in trading, so try to develop and direct all your forces to achieve the goal.
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