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No one should depend upon luck
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Dec 27, 2020 at 07:04
No one should depend upon luck in trading. You can be fortunate one or a couple of times. Regardless, You genuinely do need to understand what you're doing. It's the unfaltering work that finally pays off. If you do reliable work in right way, you will get accomplishment.
The main reason of failure
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Dec 25, 2020 at 14:10
One of the best lessons I have learned that do not trade high impacts news if you are not sure about the movement of the price. Just by hear other or reading some online prediction, do not do news trading.
How much do you risk in total to make big profits at ago?
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Dec 24, 2020 at 12:04
Trading is risky. That's why Managing risk is very important for maximizing profit. I risk 2% of my capital for each trade. Similarly, the most silly introduction to risk is 4%. It proposes I open most crazy of 2 trades. I figure everyone should keep up their hazard association rules. Without overseeing risk in trading entire arrangement achievement is farfetched.
It is the psychological aspects
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Dec 24, 2020 at 12:02
Greed and the restlessness of making money quickly do the havoc. From the beginning most people consider trading like gambling. They want to make huge money overnight. They do not follow any risk management policy.
Profit target?
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Dec 23, 2020 at 12:18
Actually everyone's expectation is different. Understanding, knowledge and strategy are also different. Yes 10 to 20 pips per day can be good enough if you can consistently make it. And when your target is 10 pips daily you may be need to increase your lot size. Hence risk comes. You have to be skilled and disciplined.
Major currency pairs
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Dec 23, 2020 at 12:18
I personally like to trade GBPUSD mostly. Actually it is your choice. You have to find out which pair suits you. For a newbie it is better to choose a pair and do research on it. The process is you have to observe chart a lot. You will find some unique characteristics of every pair. Use those characteristics as your strength.
Forex trading is for expert people
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Dec 21, 2020 at 11:10
Unless your trading capabilities is proven, nothing is worth per pip. No matter how big your capital is. This thought should come only after you get a well defined trading strategy. If you know how to make money in forex, money is not a problem at all. You would find many people to invest.
In trading everyone should have some rules
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Dec 21, 2020 at 11:09
Trade management is very important. You have to be disciplined and organized in your trading. A solid trading plan, money management, risk management, and risk reward ratio all should have been specified. One of the reasons Most traders fail because they are not disciplined in their trading.
Not that easy
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Dec 19, 2020 at 10:37
Success doesn't come easily. First you need to understand what you need to get success in forex trading. You need know that forex is not a get a rich quick scheme. You need specific knowledge and skills. And for that knowledge and skills you need to invest your time and effort. You also need to understand that forex trading requires calm and relaxed trading psychology.
Major currency pairs
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Dec 17, 2020 at 08:09
Major currency pairs are good for trading. I personally like both EURUSD and GBPUSD. Actually I only trade these two pairs. I do not like to trade many pairs. But between EURUSD and GBPUSD I like GBPUSD the more. It is a wise idea to select one or two pairs for trading. It gives you space to learn all the trading patterns of that single pair.
Forex trading is for expert people
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Dec 17, 2020 at 06:53
Forex trading requires great trading psychology. It has been said that trading is 90% psychological. Individuals battle in forex trading since they overlook the significance of psychology in trading. Even a good strategy fails because of trading psychology. You have to get control over your mind if you want to be successful in forex trading.
Simple is the best
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Dec 15, 2020 at 10:48
Every trader should make their own strategy. What works for me may not work for you. Learn technical analysis and price action. You will be able to make your own strategy.
Fear of losing
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Dec 15, 2020 at 10:45
The biggest mistake newbie does is they treat trading as a gambling. They come here to get rich overnight. But they are unwilling to learn by themselves. But the reality is- you have to be skilled in order to make money consistently. If you can't invest your time in learning, do Not invest in the market.
Revenge trading
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Dec 13, 2020 at 10:22
Spend your time on learning. Running for ready-made strategies is not learning. Spend time on MT4 or trading terminals. Learn how to read the market. Study books not just some pages on internet or ebook. Read about successful traders. Learn how psychology works in trading. That's all.
Simple is the best
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Dec 13, 2020 at 10:20
Trading forex is easy but making reliable profit is the troublesome part. For that you require good learning, skills and experience. You can't plan to profit just by entering into the market. You have to learn the specialty of trading.
Fundamental and technical
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Dec 13, 2020 at 08:29
It's good if we can combine both fundamental analysis and technical analysis. I think only technical analysis can also be used for trading and many traders are making money including me. I just stay away from economic news release.
Luck is important
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Dec 11, 2020 at 07:50
Nobody ought to rely upon luck in trading. You can be respected one or two or three times. In any case, You truly do need to acknowledge what you're doing. It's the relentless work that at long last pays off. In the event that you do solid work in right way, you will get achievement.
Every pair has its own specific characteristics
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Dec 09, 2020 at 13:30
Every pair has its own specific characteristics. You have to find out your own trading edge. Only you know what you understand the most. Learning is a long term tadious process. Everyone has to go through it if they want to make consistent money in forex trading.
There are three things
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Dec 08, 2020 at 13:28
There are three things you need to create your own strategy. Study, Practice and Study. You have to study a lot. Initially it is best to choose one single pair. Spend time to observe that pair as much as you can. Every pair has Its own characteristics. You will find some unique characteristics of that pair. Study them and test them. It's a trail and error process.
Forex is the biggest financial
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Dec 08, 2020 at 13:27
Forex is the biggest financial market. There are three sessions that combine the European, Asian and United States trading sessions. Currency is traded in different measured bundles. The little scale part is 1,000 units of a currency. All currency trading is done in pairs.
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