if any newcomers dont use stop loss, of course he will fall a great loss , because without stop loss it looks a condition , a ship in an ocean without a rudder. so its your choice , take it or leave it.
Thank you for your explanation! I think that before entering the market, you need to study all the information about the market, trading, brokers. It was hard for me as newbie to choose the right broker. I searched a lot of sites in order to find smth good. I also spent a lot of time looking for a broker.
It really depends on your personality. Some people find day trading more exciting, and become addicted to it. You have the potential to grow your account faster, and you also have the chance to lose money faster if you have a weaker trading plan.
While learning to become a trader, I see and pay attention to the kinds of traders that I have met. Of course, this is something subjective, something that is local. Because of my observations only in the environment where I live. And this article does not mean to anyone.
1. IB trader Claiming to be a trader, but only looking for people who will join the affiliate. Earn money from affiliate commissions. Usually can not trade, but know a lot of knowledge, have a wide network of friends and when asked about brokers, then he will turn out to be a salesman and ready to help the client.
2. Trader Trainer The main income of a trader trainer is from a class, the more participants join in the class the more rich and credible the trainer is. Usually their words are wiser and convey something in a typical language. Some trader trainers cannot trade on their own, the percentage is 50:50.
3. Automatic Trader Characteristics of an automatic Trader is always busy, hard to listen to explanations, especially related to technical or fundamental trading, has lots of EA stock and usually experiences huge losses.
4. Trader's Manual Nearly 99% of traders in the world always start from manuals, then switch to being a trainer or automatic trader or IB trader, because the process of becoming a professional manual trader is very long and winding. A manual trader has a patent system that will be used during the transaction, not easily affected and usually tends to be more silent. They like to share techniques if it feels it's time to share.
5. Trader commentator It is not clear whether they had a real account or not, usually they only tried a system and compares the system, then bullying the existing systems. Usually they often appears in forums with a sloppy style and at will.
6. Generous traders This is the best in my opinion, because They had extraordinary determination, 'deposit only no withdrawal' .... like to share knowledge, like to go to seminars, like trying new things without burden and without thinking, because for him the funds are not a problem .
7. Greedy trader An opportunistic trader, but still wise, usually they will say, 'being a trader don't be greedy enough to be adjusted with ability', but in fact he is also an IB, a robot seller, a local depositor and not even a little opening class by paying which is quite expensive to participants, not only that sometimes they also claim to be fund managers. Usually they are always showing off with what they get as proof that he is a great trader.
8. Uncapital trader Traders like this usually sell the concepts and trading results of other people, then expect to become investors, thus what he trades is the money of others, who will later earn income from profit sharing. BUT, it is different from a fund manager who does have a financial management company.
9. Trader Analyst Almost similar to a trader trainer, the difference is that most analysts are silent and don't open classes. Their analysis has a special mindset with its own data and tools.
do you agree with me?
Which one is you?😀
Hopefully it adding insight to you,if there are many bad words more or less I apologize, because I am just a human must have a mistake, because only God is the perfect one.
Thanks for sharing your opinion; personally I do my trading manually! In addition, I have no interest to be an IB. Because, I need my full concentration on trading! On other hand, right now I’m working on fundamental analysis to improve my own trading skill!
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