Posts de FXOday - Page 17

Beginners Greed dans Général Sep 08, 2021 at 00:42

Yes greedy is an enemy that comes from own selves, this is dangerous in trading forex because the risk in forex is so high, if make a comparison between risk and potential return, is about risk higher one percent because cost spread broker, so choosing a broker that offers low spread us more preferable and also choosing pair that low spread is giving more advantage

The less complicated trading system dans Général Sep 06, 2021 at 23:56

Forex trading is like as art business, there are so many trading strategies in forex trading, but trader have own selection to choose an appropriate trading strategy, a simple trading strategy is an easy way to make plan trading, complicated trading strategy not guarantee if then will always profitable, but trader need to make trial and error to become profitable trader, they learn detail for every single mistake

Having a mentor dans Général Sep 03, 2021 at 00:04

I think good if any trader learns forex and get mentor, but maybe this way is not free, mentor teach their student need cost for education, if trader learn from mentor also need to prepare cost for education fee, but if trader wants to learn free and increasing their experience, there are so many free resources to learn forex like as start from babypips, then use a demo account.

Choosing a pair dans Général Sep 01, 2021 at 23:39

Just trade in pair that really you understand with the character pair movement, although many traders suggest for EURUSD but if trader cant understands character pair, hence will often be swayed by fluctuation movement prices in the market and maybe often facing floating and dragged account decreasing equity. There are so many pairs in forex, usually, the USD pair has a low spread instead of cross pair and exotic pairs. in my FXOpen trading account, I like to trade on XAUUSD, included low spread and challenging trading pair.

Choosing a pair dans Général Sep 01, 2021 at 00:09

There are so many pairs available in the forex market, but it depending on broker policy, because each broker is not the same about their service, but usually major pairs become the most selected pairs among traders, the reason is low spread and high volatility, but another cross pair like as GBPJPY, also good pair to trade, because high volatility

Forex is Hobby ? dans Général Aug 30, 2021 at 23:23

Now I am not the only hobby but already become part of my working days, forex as a part-time job. but maybe some traders like forex as a hobby, in daily trading always looking the market and looking information related to forex, and sometimes start from a hobby in future can become main source income, if you like your hobby, learn more and will get something in life.

News trading is very tempting dans Général Aug 30, 2021 at 00:12

Indeed news impact could make prices movement become very high volatility, but this condition is often dangerous, because sometimes traders needs to pay attention to the risk and put stop loss, high volatility market maybe hit stop0 loss and then continue to target, there are trader technical based trading prefer to stay away from news trading because they felt uncertain market.

Leverage is useful or not ? dans Général Aug 26, 2021 at 23:11

Leverage is useful, if trading without leverage, hence only rich traders will be able to open trades because trading will, based contract size,and standard contract size 1 lot is $100.000 USD, it's not for retail traders

Demo can not make you well experienced dans Général Aug 25, 2021 at 21:43

Demo account remain useful, a trader can learn free in a demo account, test trading strategy before implemented in the real trading account, there are so many seller trading software only use a demo account to convincing their customers.

using leverage dans Général Aug 23, 2021 at 23:34

Using leverage in account forex trading should to understand, maybe there are trader like to use high leverage like as 1:1000, in my opinion, this leverage only endangers account if you cant control decision trading, basically using such leverage will allow the trader to open bigger lot size and this possible become nightmare for the trader.

Not gambling dans Général Aug 22, 2021 at 23:07

Yes, the most important is skill trading, if we have good skill, hence start from low capital, gradually will increasing money day to day, but indeed not always we can make profit every day, sometimes loss too, if not yet ready to start using big money, better start with small money until we have the capability to increasing money.in forex trading.

Trading in lower timeframes dans Général Aug 19, 2021 at 22:58

Yes lower timeframe is usually used for scalping traders, they like to use M5 or M15 for scalping trading, try to catch opportunities up and down wave that occurs, but usually, scalping traders need good support from brokers, not all brokers allow scalping, and this is needed fast execution order too. Sometimes I try scalping in my STP account FXOpen, but mostly I am trading as intraday trader.

Forex is not like gambling dans Général Aug 17, 2021 at 23:18

Forex trading is buying and sell transaction, this is a real business, but usually, traders that come to join in forex want to speculate in the market, but forex is not gambling, this is a high-risk high gain trading business, anyone trader that doesn't accept the risk, better stay away from forex because this maybe not suitable for them.

using leverage dans Général Aug 16, 2021 at 23:57

Yes, leverage is important in forex business, without leverage maybe retail trader they cant take part in forex trading because to buy 1 lot need real value contract size $100.000, with leverage trader can trade in small portion even start using 0.01 lot size still okay.

profits in forex trading dans Général Aug 15, 2021 at 23:46

Profit in forex trading will become happier If trader withdraw the profit, although compound profit might giving more power margin, in day to day trading, maintain to always make a consistent profit is not easy, sometime trader has the intention to compound profit, but eventually lose again even worst margin call account.

Forex is the biggest financial dans Général Aug 13, 2021 at 00:24

Still, not yet any statistics show and compared forex market vs crypto market, but look emerging crypto, market capitalization in the main crypto, already in billion-dollar too, example Bitcoin 24 hours volume reach 33 billion according to Coinmarkepcap, Ethereum reach 33 billion volume daily

using leverage dans Général Aug 11, 2021 at 23:56

Choosing leverage also giving impact to the risk; level, some brokers may offer high leverage until 1:1000 or even higher, but choosing high leverage I think useless and even endanger account if leading trader become greedy because high leverage allows the trader to open trades using bigger position due they only need smallest margin requirement.

Broker and regulations dans Général Aug 10, 2021 at 23:23

I use a broker that regulated on ASIC, this is regulation Australian based, and also company regulated on FCA, which this is regulation UK based, and the company also registered in Cysec, as I know this regulation in Seychelles, and based my experience this is good and trusted broker.

profits in forex trading dans Général Aug 09, 2021 at 23:58

Definitively no, trading without experience like as want to drive a car without skills, instead of experienced traders still possible to facing with loss in trades, even worst get margin call account, forex trading is business, no exact profit will be in everyday trading.

profits in forex trading dans Général Aug 08, 2021 at 23:45

I think all traders want to get profit in every single trade, but how to manage the risk is very important because market forex full uncertainty, if traders only chasing profit without pay attention to the risk in trading, one mistake may cause big loss in single trades and will make lost all previous profit.

EURUSD	1.07689	GBPUSD	1.2561	AUDUSD	0.6621
USDJPY	153.928	USDCAD	1.3664	USDCHF	0.90603