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DoraWalletInvest
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No alternative to learning
in
General
Oct 21, 2020 at 14:39
Definitely. You also have to get a good understanding of yourself and your emotions, how you react when something doesn't go your way etc.
Money Management Tips
in
General
Oct 21, 2020 at 14:33
You are very right. I think money management is a skill that should be taught to people as they grow up, it is important to everyone, not just people who trade or invest. If you trade to make a living or make money for your retired years, you also have to be very aware of how much money you need each month.
Why demo is easy?
in
General
Oct 21, 2020 at 14:26
I totally agree! And there are many people trading with real accounts who still use demo accounts to test their methods.
Luck or Hard Work?
in
New Traders
Oct 21, 2020 at 14:21
I don't think we need luck, it is just a nice bonus if we have luck on our side sometimes.
Bitcoin future?
in
Crypto
Oct 21, 2020 at 14:18
Volatility is not necessarily a bad thing, if you trade it and not just invest you can take advantage of volatility. Though that's not how most people use it.
Forex is a business
in
New Traders
Oct 13, 2020 at 09:23
I agree. The forex market [i]is[/i] humongous - which is great for liquidity -, but individual traders are only a few percentages of this volume.
Education by following the best one.
in
New Traders
Oct 13, 2020 at 09:17
Signals can be very useful but I don't think anyone should start trading without the ability to plan a strategy.
Is forex is best source of income?
in
New Traders
Oct 13, 2020 at 09:14
I think this is highly subjective. For some people, forex sure is the best income. But there are many ways to make money and many different types of trading and investing exist, so generally I would say there is no consensus on which is best.
newcomers trading habit
in
New Traders
Oct 13, 2020 at 08:59
Knowledge, control over emotions and good risk management are all important parts of a trader's success, in my opinion. They are all needed in order to attain consistent profit.
Day Trading Techniques/Strateges-Beginners Guide.
in
New Traders
Oct 13, 2020 at 08:54
Very good points! I would also add, as this list is for beginners, that you shouldn't launch yourself into full-time trading rightaway. Give yourself time to learn as much as you can, try yourself in longer timeframe trading - don't go quitting your job until you have enough knowledge and experience to be consistent.
Strategies from others.
in
New Traders
Oct 13, 2020 at 08:49
I agree with this.Also, when someone tries to sell promising trading strategies for money, one should be always cautious. A trader who can make big profits with their trading system will probably not need to rely on selling that system as an income.
What can you learn from a fisherman as a trader
in
New Traders
Oct 13, 2020 at 08:43
Great analogy. Also, you have to choose the right kind of food to use as bait, just like you have to take care of yourself physically and mentally in order to withstand the ups and downs of trading and gain success.
i need help.
in
New Traders
Oct 13, 2020 at 08:31
Sorry but I don't think this is good advice. Can you maybe link a source about what academics found? Because in my experience there is nothing inherently wrong with day trading. It is not for everyone and it might take more experience than other ways of trading, but "day trading is idiotic" without any specification does not seem like a fair statement.
i need help.
in
New Traders
Oct 12, 2020 at 13:24
It seems like you might have to learn more about trading psychology. There are two good books about this, Trade Your Way to Financial Freedom and Trading in the Zone. Working on your own mindset and getting to know how the human thinking work in general can go a long way in keeping you from making bad decisions.
90% are loser ..why ?
in
New Traders
Oct 12, 2020 at 13:20
Lack of discipline and running into scams are for sure frequent reasons why someone quits, but I think the biggest reason is when people go into trading with false expectations - they either treat it as a method which will make them rich quickly, or they want to have a high ratio of profit and forget about what that means in terms of risk, or they are simply not aware of their goals and their risk tolerance.
How to recognize a Forex Scammer ?
in
General
Oct 12, 2020 at 13:10
Yes, this is an important red flag. Another one is if there is no history available, no long-term proof of the success they advertise.
Quit from trading ?
in
General
Oct 12, 2020 at 13:07
Well said! The important thing is not whether we make mistakes, it's whether we can learn from our mistakes.
modern economy crumble. what will happen next?
in
General
Oct 10, 2020 at 10:07
The crisis will have and effect for a long time, that is for sure - even after the pandemic situation gets better, which we still don't know when will happen, economies will still be struggling. But I don't think this is the death of globalization. As another poster before me said, people have been predicting the end of modern economy for a very long time.
Coronavirus outbreak - markets
in
General
Oct 10, 2020 at 09:58
The market has definitely been very unpredictable. The way I see it, the forex market is one of the hardest, if not [i]the[/i] hardest to navigate out of all options. I agree about reducing lot sizes, and increased trading frequency to take advantage of the volatility.
Quit from trading ?
in
General
Oct 10, 2020 at 09:45
I also think that there are many who, unfortunately, end up quitting for a lifetime. Some people lose capital because they start trading without proper knowledge, others run into scams and lose hope. Some even spread the rumor that trading is nothing more than gambling, or that by any means it was not their fault that they ended up with losses. This is why it is so important to educate yourself.
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