Mohammadi posted: any trading analysis is important but most important is fundamental particularly when it is time to news , fundamental analysis to acquire is a tough issue and need a long time , for that reason we the traders above all newcomers fail to interest and move on technical analysis for trading successfully.
Correct; I have seen most of the time; during the high voltage news like FOMC, NFP technical analysis doesn't follow the rules; that’s why, usually I close all of my trades during the high voltage news sessions.
I think professional trader is who have good psychology trading as well good money management and also have trading strategy to make better decisions in market , perhaps know the right time to make order in market.
Actually how much we can earn our trading it depends on the markets movements. It’s not countable at all by our trading accounts. I was profitable when I started my live trading with 1K. but I did huge loss when I increased my balance in 2.5K but there was same strategies with same money management.
I find is still that some newbies try to trade with daily targets of 10 pips or 100 pips or whatever. You can only get what themarket will give you. When price is static it is impossible to make any money buy when there are large 200pip moves in a day then there are profits (or losses) to be had
Amadi posted: I find is still that some newbies try to trade with daily targets of 10 pips or 100 pips or whatever. You can only get what themarket will give you. When price is static it is impossible to make any money buy when there are large 200pip moves in a day then there are profits (or losses) to be had
Basically, it’s a wrong approach; there is certainty in Forex; it’s all about probabilities. So, having a fixed target means extra burden.
Every trader in this market place I think already knows Forex is a risky business. That’s why need experience and knowledge to minimize the risk . Without proper trading knowledge and experience, a trader many be get more loss than profit. We should understand that there is no shortcut and we can’t become rich overnight.
Sad truth is that many trader do not realize that Forex is risky. Or the do not realize HOW risky it can be. I have read so many stories of people open a trade with 1 Lot thinking that was small and then within 1 day they have lost $1000
Generally, novice traders should start from basic level! According to my personal experience, BabyPips School is a good place for start with! Besides, new traders need to open a demo for practicing purpose! Demo is the most decent way of Forex learning.
The killing danger for beginner's trader is undercapitalization. When trader tries to made enough profit for living on $1,000 account it leads to overtrading. Overtrading leads to huge risk. Huge risk inevitably leads to losses.
This is tightly related to risk mgmt and to realistincs expectations. So even with a good strategy if you overtrade you will kill your account soon or later.