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UweMoench
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UweMoench
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Not gambling
in
General
Nov 09, 2020 at 14:51
By gambling one can get some winning trades here and there. Those few wins give them false hope. And they keep doing it until lose all the money. If anyone wants to make real money, he should treat trading like a business. Also he should not have unrealistic expectation.
Stop loss is a part of risk management
in
General
Nov 09, 2020 at 14:16
There is no alternative to risk management. It's not possible to be right 100% of the time. That's why we need to manage our risk so that we do not incur big loss. And using stop loss is one parts of risk management.
Online source of income
in
General
Nov 08, 2020 at 12:27
Forex trading can be your online earning source. You a laptop with internet connection to get access into the market. Then you have to learn the art of trading. Most Importantly you need an online forex broker to trade with.
A good strategy can
in
General
Nov 08, 2020 at 12:25
A good strategy can give us good profit. But it is not just strategies. Risk management and emotion control are equally important. By combining all these you need make a good trading plan. It will give you a strong hold on profit.
Customize your strategy
in
General
Nov 06, 2020 at 13:08
We need to customize or personalize our strategy. Every person needs his own understanding of the market and price. That's why we don't get success by following other's strategy. Without customized strategy, long term success in trading is not possible.
Trade few pairs
in
General
Nov 06, 2020 at 13:06
I don't like to follow too many pairs. For my trading I just trade EURUSD and GBPUSD pairs. I comprehend these two pairs more as I have done good research on them. To me it is a smart thought to trade a couple of pairs. I figure each trader should begin with a single pair.
Almost all methods give profit if
in
General
Nov 04, 2020 at 11:29
Yes I agree with you. Every method is useful if we know how to use it and when to use it. With changing market we also need to change our approach to the market. Due to lack of understanding people blame any system.
Forex is not scam
in
General
Nov 04, 2020 at 11:26
Forex is not a scam. But you will find people here who are doing their best to scam greedy people. I said greedy people bcoz they believe their unrealistic profit promising. Everyone specially newbies should know that there is no short cut in trading.
90% are loser ..why ?
in
New Traders
Nov 02, 2020 at 12:37
Yes forex is too much risky business. You can lose all your money in no time. That's why people follow risk management system. Forex trading is all about how good you are in managing your risk. You can be a profitable trader with a normal strategy if you have good risk management policy.
Forex trading is a work for professional
in
New Traders
Nov 02, 2020 at 12:35
Forex trading is a work for professional. It requires particular knowledge and aptitudes. Without discovering that you can not have predictable benefit in forex trading. A specialist trader knows when to open or close a position and how to oversee risk.
Systematic Trading Strategy
in
General
Nov 01, 2020 at 13:13
Strategy is one of the main ingredients of successful trading. But it's the half of the scene. Along with a good strategy we also need discipline and control over our mind. And a good strategy comes with a good chart analysis ability.
Scalping and trading strategy
in
General
Nov 01, 2020 at 13:09
For new traders doing scalping is not a good idea. Successful trading requires a trader to be discipline. But scalping doesn't allow a new trader to be discipline. It makes them restless.
Risky business
in
General
Oct 30, 2020 at 12:20
Forex is a risky business. You can't be risk free here. This is the reason there is something called risk management. By managing your risk you can make good profit. To be expert in risk management you need to study a lot. Don't trade without managing your risk.
Don't go against trend
in
General
Oct 30, 2020 at 12:18
it is a very wrong idea to go against the market. It means if the market is in trend, follow the trend. If the market is in consolidation mood, trade according to that. Going against the market will end up you to getting margin call. To know more about market you need to study more.
Trading in lower timeframes
in
General
Oct 29, 2020 at 13:23
Yes I agree with you. In lower time frame there is more noise and traffic. That's why price move forward and backward. That's why people do over trading and open lot of unnecessary trades. It also leads them to bad habits.
importance of skills
in
General
Oct 29, 2020 at 13:16
People know that they need skills but they are not willing to give time in learning. They become restless to make money that after few months demo trading they jump into live trading. Then their run for a ready made strategy begin.
Being successful means
in
General
Oct 28, 2020 at 12:52
Being successful means making profit consistently. If you make random profit, that is not gainful. You have to be profitable over years. Being gainful in a particular type of market is not success. To be successful you need good skills and experience.
Discipline is the most basic thing
in
General
Oct 28, 2020 at 12:51
Discipline is the most basic thing for getting desired success in forex. Among all the successful traders discipline is the common quality they all have. It doesn't have any kind of effect which approach you utilize, you ought to be trained.
MT4 or MT5
in
General
Oct 27, 2020 at 13:31
I find MT4 very user more friendly. May be it is because I am accustomed to using MT4. But there are many who like MT5 as well. It's all about what you are comfort at.
Professional trading tips for beginners
in
General
Oct 27, 2020 at 13:25
Very informative input. Yes following crowd makes a trader restless. All the day he keeps searching what others are saying about the market. It reduces their own judgement ability which is bad for learning.
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