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How to determine whether the platform is safe and reliable?
숙련된 트레이더
에서
Apr 28, 2022 at 12:26
That’s right, it’s always better to trade a demo account to find out the authenticity of a broker. I did the same when I started trading with aaafx despite knowing it is a regulated broker. It is okay to be extra cautious at the start.
Most people become unrealistic
일반
에서
Apr 28, 2022 at 07:13
The get-rich-quick scheme doesn’t apply in trading and if that happens to be a newbie’s mindset, they are definitely going to lose more often than experienced traders. A trader must have enough patience that keeps their emotions in check, work on backtesting different strategies and constantly enhance their skills and knowledge. Unrealistic expectations lead to loss in funds, and in the individual’s sense of being.
How long does it take one to be consistently profitable with forex trading
신규 트레이더
에서
Apr 27, 2022 at 12:40
There is no exact time limit. It may take 6 months, or in some cases, 2 years. It is all about your knowledge and skills. Practise a lot on a demo account and see if you are making sufficient profit there. If you are doing well on a demo account, then move to a live account.
Is forex is best source of income?
신규 트레이더
에서
Apr 27, 2022 at 12:39
In my opinion, forex is a good source of money if you understand the market. The forex market is volatile and therefore risky. If you are familiar with market behaviour and are good enough in your ability to analyse and forecast, then surely you can make it a good income source.
Is trading hard?
일반
에서
Apr 26, 2022 at 04:57
Yes. it absolutely is. It isn’t for the weak hearted. It requires hours of dedication and time, and isn’t meant for those who are just looking to grab some quick cash. It took me years to master it, and I'm still learning everyday.
5 Things I have learned in 5 years of trading!
일반
에서
Apr 26, 2022 at 04:52
These are all such important tips for newcomers, thank you for sharing them.
Forex Trading Psychology: Levels of FEAR
숙련된 트레이더
에서
Apr 20, 2022 at 09:13
I would say fear is a tool that our brain uses to protect us from any sort of danger. And nowadays we feel that fear about almost everything we do: going to a new school, starting a new job or business. The fear of getting started with anything is because our brain senses the possibility of failure as a threat. And this fear helps us to stay grounded and make rational choices as and when required. Forex trading is no different. It involves money and speculation which comes with lots of risks and uncertainty. And having this fear of losing money is good whether you are rich or not. This fear wi...
The dark side of forex markets
신규 트레이더
에서
Apr 20, 2022 at 09:11
Becoming a trader is never an easy task. Hard work is required in the initial stages to understand the market and learn about strategies. But after that it is all about smart work. Having the right strategy and presence of mind to make timely decisions is what takes a trader to the path of success. Transforming the risk into reward is the product of an efficient risk management system. Last but not least, a trader can improve and grow with time but I believe the talent to trade is something we are born with and that’s why we are drawn to this risky world of forex trading.
How to Avoid Forex Losses In Forex Trading?
신규 트레이더
에서
Apr 20, 2022 at 08:30
You can never really avoid losses in forex; the right way is to minimise the amount of losses by taking necessary measures to manage the risks. You should always depend upon an effective risk management system while trading. You should only take risks based on logical calculations and avoid impulsive trading at all costs. Over trading is also a reason that leads to traders suffering huge losses. You should know when to start and stop trading and make sure to not get carried away by your emotions.
lost
신규 트레이더
에서
Apr 19, 2022 at 09:57
The lost phase is something that every new trader goes through after entering the forex market. When you are surrounded by so many professionals with years of experience and knowledge, you are bound to feel overwhelmed and pressured. But don’t get stressed out trying to compete with the professionals. You should just focus on learning at your own pace and enjoy the process.
Is a demo account really neccassary?
신규 트레이더
에서
Apr 18, 2022 at 07:31
Yes, all the demo accounts are practice accounts and are designed to help you play around with the trading process, which will help you know about how a real account works.Demo trading is also a very good way of learning how to trade and gaining confidence.
Greed is poison
신규 트레이더
에서
Apr 18, 2022 at 07:28
Yes, greed is poison in Forex trading. You must have a risk control method to stop yourself from doing irrational things. Remember trading is not a sprint, it's a marathon.
Have a plan and stick to it
신규 트레이더
에서
Apr 15, 2022 at 05:52
Sticking to a good plan is something that can benefit new traders as well as experienced traders. However, you should be flexible and open to make any changes in your strategy so that you don’t get stuck with a strategy that does not optimise your profits. So start with a good plan and make sure that you have a plan b in case your strategy isn’t working in your favour. But be patient, and don’t jump from one strategy to another without giving it time to work.
Don’t Let Your Emotions Dictate Your Forex Trading
신규 트레이더
에서
Apr 14, 2022 at 06:32
Forex trading requires analytical thinking and logical calculations while making trading decisions. So you must have a healthy mind, so that you can focus on trading. If you have a cluttered mind filled with worries then it will have a negative impact on your trading too. So make sure to calm your mind and be well aligned with the trading environment while making any crucial decision.
How does experience come?
숙련된 트레이더
에서
Apr 12, 2022 at 07:37
I think you gain experience only when you learn to accept your mistakes and work to make better decisions. You need to set a risk reward ratio and follow a strong trading plan in order to maintain a certain amount of profit, either weekly, monthly or yearly.
Fear is the greatest reason
일반
에서
Apr 12, 2022 at 07:32
Do not allow your judgement regarding decisions to be based on emotions if you want to succeed. Very few traders realise this early in the game, but if you do know how to manage your emotions and your money while maintaining low risk levels, there is no doubt you will achieve more than you counted on.
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