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Demo can not make you well experienced
in
General
Dec 27, 2021 at 06:16
One of the most common reasons that a beginner should use a demo account before trading in the Forex market is to become well-experienced with the market conditions. A demo account allows you to trade in a simulated environment and make mistakes without risking your hard-earned money.
When a trader is a newbie
in
General
Dec 23, 2021 at 06:36
Beginners should know money management and risk management as well as a trading strategy that suits them. They should learn to read charts and use indicators. It will help them to achieve goals and avoid making mistakes.
Control your greed.
in
General
Dec 23, 2021 at 06:28
Greed is an inherent human nature. In forex, greed can be extremely dangerous, especially for beginners.
Greed is when your expectation
in
General
Dec 22, 2021 at 05:58
It is a good thing that greed is being discussed. I think an important thing that can be done here to tackle greed is to set a goal. Changing the focus from increasing the amount of money to increasing the amount of profitable trades is going to help a lot.
Basic mistake we make
in
General
Dec 22, 2021 at 05:44
Deciding a stop loss is one of the common mistakes people make. Before deciding stop loss or even before starting a trade, support and resistance levels should be identified. Only after identifying them can you execute a good trade. If you just place a stop loss according to your risk limit there are high chances that it will get hit.
Becoming a Forex Expert requires
in
General
Dec 22, 2021 at 05:36
The only way to become a Forex Expert is to learn about the markets and practice trading. You need to understand how the markets work and get a good grasp of trading basics. These things will take time and effort to learn, but it's well worth it in the end.
Most people fail because
in
General
Dec 21, 2021 at 06:02
Many factors determine whether a trader will be profitable or not. Some of the most common factors include discipline, effective strategies, and risk management. Many traders do not have one or more of these factors, and this is why most fail in forex.
Luck or Hard Work?
in
New Traders
Dec 21, 2021 at 05:54
Forex trading is all about hard work, discipline, and determination. Many people believe that success in forex trading comes down to luck, but this is not the truth. Forex traders who achieve great success all have one thing in common: hard work.
Copy trading
in
New Traders
Dec 20, 2021 at 06:30
Copy trading is a method of Forex trading in which traders copy the trades of more successful traders. This can be done with a variety of brokers. Beginners can use this method with a few caveats to increase their profits with higher leverages. Always use proper money management when trading any method, including copy trading.
New in forex trading
in
New Traders
Dec 17, 2021 at 05:43
As a beginner, one should use a demo account for a while to learn how to trade currencies. A demo trading account gives the trader a chance to trade in a live environment but with virtual money. It is a good idea to write down what one expects from the market, how certain strategies are used, etc. It trains in discipline and brings more perspective.
Importance of demo trading
in
New Traders
Dec 17, 2021 at 05:35
A demo account is an account that is funded with virtual money. This type of account allows traders to test out strategies and trading techniques before they commit any real money to their accounts. Demo trading is a great way to learn about forex trading without risking any of your own money.
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