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Sarjohn
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FX books to read for newbies
in
New Traders
Mar 03, 2021 at 08:36
Currencies trading for Dummies is one of the finest books for beginners, apart from books you can learn basics from online sources such as investopedia or babypips.
Basic mistake we make
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General
Mar 02, 2021 at 08:12
Biggest mistake that I have noticed is that new traders are focused on making money. They want to make money in a shortcut way, new traders don’t want to learn and don’t have any control on emotions.
To be a successful trader
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General
Mar 01, 2021 at 10:37
To be a successful trader first of all you need to learn and develop a good trading strategy, also while trading control your emotions, understand that losses and profits are a part of trading only.
Broker support is important
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General
Feb 26, 2021 at 11:13
Yes the right broker is very important to trade with. Be very careful while selecting the right broker, there are many brokers who write 24/7 support but leave the trader on automatic chat reply.
Is math important for trading?
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General
Feb 25, 2021 at 08:54
Basic math is required for trading so that you can have an exact idea of your profit and loss. And if you are pro in mathematics you can learn and do technical analysis by yourself also.
Bonus is not that much important
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General
Feb 24, 2021 at 08:45
Bonus is just a lucrative offer to tempt new traders but when it comes to withdrawal brokers put a lot of restrictions on it, and hence bonus are worth less.
Overconfident
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New Traders
Feb 23, 2021 at 10:25
You become confident when you gain experience in forex and spend time on learning forex and developing strategy. But when you are overconfident about your trading practice,for sure it will lead you in losses.
Importance of demo trading
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New Traders
Feb 22, 2021 at 08:50
Demo trading is the best way to learn Forex and get aware of the platform also, it helps to learn how to open and close positions, place orders, chart patterns, you can also have your trading history so that you observe your mistakes and then make a strong trading strategy before going to a live account. And the most important is in demo trading you do not risk your money.
Timing is important
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General
Feb 19, 2021 at 08:48
Yes timing is very important, you need to practice a lot on demo to find the correct timing of entry and exit trade. Also do technical analysis, practice and develop a strong strategy.
To learn the art of trading
in
General
Feb 18, 2021 at 08:41
Yes many traders come here in order to make money only but they don’t want to learn Forex, they need to understand that there is no shortcut to make money you have to learn, develop skills and practice trading.
By gambling one can get
in
General
Feb 17, 2021 at 08:47
You can’t make any profit in Forex depending on your luck only, you need to learn and practice trading in order to make consistent profit. But gambling is a totally luck dependent game. A gambler puts up money in the hopes of a return if a random event occurs.
Stop Loss Importance
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General
Feb 16, 2021 at 08:44
Stop loss is very important as a newbie I have never traded without stop loss so that I can’t make any large losses. Even I would suggest that if you don’t have much experience then always trade with a stop loss.
Bonus and broker
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New Traders
Feb 15, 2021 at 08:05
First of all regulated brokers don’t give any bonus, and if a broker is ready to give you a bonus it means they are tempting you,at the same time they will put a lot of withdrawal restrictions too.
What is fast forex scalping?
in
General
Feb 12, 2021 at 09:26
Scalping is itself a way of taking profits from small price change. not sure if there is something like fast forex scalping. Use the smallest time frame and high leverage for scalping.
Not a good idea to follow many pairs
in
General
Feb 11, 2021 at 09:40
Obviously it is not a good idea to follow too many pairs, focus on 2-3 pairs so that you can make a good strategy focusing on these pairs only.
what kind of spreads do you look in a broker
in
General
Feb 10, 2021 at 08:54
I would prefer variable and tight spreads starting from 0.0 pips and commission should be low.
Basics knowledge is not enough
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General
Feb 09, 2021 at 08:42
For making consistent profit only basic knowledge is not enough, for becoming a successful and professional trader, you need to know how to do fundamental and technical analysis as well.
There is nobody who can
in
General
Feb 08, 2021 at 08:46
Losses are a part of trading, you can not completely avoid it. Losses are not the major issue, the issue is how you deal with your losses, trade with a good strategy and maintain a positive attitude, by time you will be able to convert all your losses into profits.
Purpose of demo trading
in
General
Feb 05, 2021 at 08:45
Demo trading is the best way to learn Forex, it helps to learn about the platform, how to open and close positions, place orders, observe your mistakes and then make a strong trading strategy before going to a live account.
Over trading is a bad habit
in
General
Feb 04, 2021 at 09:14
Over trading happens when traders don’t limit their strategy even after going into losses. Don't be overconfident and analyse the market before opening any new position.
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