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Time Management
in
New Traders
Nov 22, 2022 at 07:37
Time management is crucial in life as well as in trading. Those who are disciplined and intelligent understand the market’s pattern and make moves accordingly. It is important to time each trade right to gain the most profit.
Book to read
in
General
Nov 22, 2022 at 07:36
You can read Jack Schwager's "Getting Started in Technical Analysis" and Martin Pring's "Technical Analysis Explained."
Broker Recommendation- low slippage brokers
in
General
Nov 18, 2022 at 07:53
Can try aaafx and pepperstone, have rarely seen slippage with these two, my orders are mostly filled quickly.
Can I learn forex trading with a demo account?
in
New Traders
Nov 17, 2022 at 07:11
Why not? Practising to make trade on a demo account will help you gain practical knowledge of forex trading. Practical knowledge of the market and trading is more important than theoretical knowledge.
How many trading accounts have you blown?
in
Experienced Traders
Nov 11, 2022 at 07:07
I haven’t really blown any live trading accounts. When I was a beginner, I would take a break from trading once I see the drawdown increasing beyond my set limit. That way I am able to save my account before it’s blown. I think even a new trader can trade without blowing up their account if they pay enough attention to risk management.
Experienced trader
in
Experienced Traders
Nov 09, 2022 at 07:15
I think an experienced trader will have some edge due to their in-depth knowledge and advanced trading skills. Just being experienced would mean nothing if you don’t have enough knowledge and trading skills. So, a trader needs to keep on learning for a long time in order to attain this edge that comes with experience.
scalping easy ?
in
New Traders
Oct 12, 2022 at 09:43
Scalping can be the easiest strategy when you have a quick exit strategy and have control over your emotions. But it’s best for the traders who have some hang of the market.
Why are some traders successful?
in
General
Oct 12, 2022 at 09:42
That’s because not everyone can stay consistent and work hard. They are either too greedy or fear too much. Successful traders have discipline and knowledge. They always trade with the right approach and believe in treating forex like a business.
Is CMC Markets and FP Markets suitable for beginners?
in
New Traders
Oct 10, 2022 at 09:19
It depends upon the trader and his trading style as to which broker suits him the best. In my case, aaafx and xm suited me well because of their low minimum deposit requirements, multiple instruments and good trading conditions.
New traders love scalping
in
General
Oct 04, 2022 at 11:07
Scalping is only profitable to those who have deep knowledge of the market. It entails initiating a position, gaining some pips, and then closing the position quickly. It is a very popular trading method among new and experienced traders.
The worst trading advice you can get
in
General
Oct 04, 2022 at 11:07
Trading is all about luck - only those who become successful are lucky, or the market favours the most. That is the worst advice I have ever come across.
Forex is not like gambling
in
General
Oct 04, 2022 at 11:06
Trading requires a mindset and skills that can be used in the best possible way, the results of which depend on the market conditions and the trader who trades. In gambling, however, there are no skills and only a mindset (filled with hope and false beliefs), and the results of gambling depend on the house (the house always wins), and the gambler has to lose. Trading is fair, while gambling is mostly unfair.
What is the importance of knowledge?
in
General
Oct 03, 2022 at 09:18
The importance of knowledge in forex trading is that it allows traders to better understand the market and make better trades. This knowledge can be used to improve a trader's ability to predict trends, identify opportunities, and make informed decisions.
Is investing in the forex market risky?
in
General
Sep 30, 2022 at 12:25
There are a number of factors that can influence the risk associated with investing in the forex market. Some of these include: current global economic conditions, political unrest, and world events. Any changes in these factors may increase the volatility of the market making it difficult to anticipate the price movement.
Successful Traders Mindsets
in
General
Sep 30, 2022 at 12:24
Successful traders avoid all distractions at all costs. They do not want to get distracted by their losses or anything that can trigger negative emotions or actions. They control their mindset in the right way.
Luck is important
in
General
Sep 30, 2022 at 12:23
There is no need for luck in the forex market. If luck were involved in forex, only a select few would win. But that is not so; those who trade with the right strategies and mindset win. Luck has no role to play in the forex market; it is mostly mumbo-jumbo that has made everyone think that way.
Demo can not make you well experienced
in
General
Sep 27, 2022 at 10:40
Demo trading will help you to gain confidence in your knowledge and expertise. Demo trading aids in understanding the mechanism of the real time market and practise trading strategy on different time-frames without risking any money.
Tips To Make Profits Daily
in
General
Sep 27, 2022 at 10:39
Success is within your reach with your expertise and consistent practice. You must conduct fundamental and technical analysis. It will assist you in determining market direction and profit.
Books or Videos - Which one is better for learning?
in
New Traders
Sep 26, 2022 at 09:26
Both formats are beneficial. Videos and books can help you understand the fundamentals of the market. Make sure to practice on a demo account. It will assist you in gaining practical trading knowledge and experience.
How often does the market change?
in
New Traders
Sep 26, 2022 at 09:25
The market is constantly changing. There is no predetermined pattern. Learn to analyse the market so that you can predict the market's next move.
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