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Discipline and Forex Trading
in
Galvenais
Sep 20, 2021 at 14:25
Discipline and patience are two key traits that I think all successful traders must have.
how to become a forex market conqueror
in
Galvenais
Sep 20, 2021 at 14:23
Scalping can be really profitable for some traders, but I think experience and knowledge about overtrading and other things can influence chances of success. I know a few people who hate scalping and therefore they use different strategies and other strategies while my other friends swear by scalping and they do very well. I think it all depends on various factors.
Scalping is good
in
Galvenais
Sep 20, 2021 at 14:21
I think that scalping can be a good Avenue for traders to profit, however, it can also cause losses if one does make the mistake of overtrading. Fortunately, there are many other strategies to choose from if one doesn’t do well as a scalper.
Part time trading
in
Galvenais
Sep 20, 2021 at 14:16
The great thing about trading is how flexible it is. Some do spend a lot more time looking at charts and trading during the day, while others use EAs or have strategies that don’t require them to do that. I’m more of a part time trader like many others.
How much money can I expect to make from trading?
in
Galvenais
Sep 20, 2021 at 14:14
The exact amount you make will depend on a variety of things. The amount you invest, your strategy, your amount of trading knowledge, etc. can drastically change that number. I did read about a study once where the results found that a realistic amount would be 3k per month off of a 30k deposit. Of course things would change the number but this was just to get an idea of it.
Can you leave Forex Trading?
in
Jauni treideri
Sep 13, 2021 at 14:33
That’s true, similar to the way that people continue gambling after winning something, up until they lose their winnings. I trade as a way to bring in extra income and while there are other options out there to make money from home, I don’t think any of them could be as flexible or lucrative. On the other hand, quitting could be easy for a beginner that has just blown their account and realized that they didn’t spend enough time learning.
Emotion in Fx
in
Jauni treideri
Sep 13, 2021 at 14:31
I think it gets easier to manage emotions the longer you trade but I also think certain factors affect this. For example, a billionaire may be able to remain mostly emotionless if they lose $1,000 on a trade but a poor person is more likely to feel emotional turmoil and will think of all the necessities that money could have bought.
Impulse Trading and How to Avoid It
in
Jauni treideri
Sep 13, 2021 at 14:28
I think it’s crucial to have a trading plan and stick to it. You might get lucky with one or two impulse trades, but it will likely lead to a blown account very quickly if that is the only method you’re using.
20 trades to become millionare - is it possible?
in
Jauni treideri
Sep 13, 2021 at 14:26
It’s possible but I would think it’s more likely that you’ll lose money this way. Not to be negative and I hope that it works for you!
Forex Tips
in
Jauni treideri
Sep 13, 2021 at 14:25
I think it’s easy to get the idea that trading is easy or that you can make money quickly with little effort. We can thank trading gurus and influencers for giving it that imagine. However, many beginners learn quickly that this isn’t the case and I believe that accounts for the large percentage of failed traders out there. Those that do their research and whom don’t think of it as gambling have a higher chance of becoming successful.
I just realised that trading is easy but we stand in the way of growing.
in
Jauni treideri
Sep 13, 2021 at 14:23
I think you make a good point and I’ve seen other suggestions to set and forget trades so that our emotions don’t lead us to interfere and ruin them. Anxiety is a big factor for me, so this could be helpful. Thanks for sharing!
Luck or Hard Work?
in
Jauni treideri
Sep 13, 2021 at 14:21
Trading is not a quick and easy way to get rich as many beginners believe. It takes a lot of time to learn and I believe a significant amount of demo trading is also a necessity, meaning that we have to give a considerable amount of our time to it before we even have the chance to make profit. I often wish other traders luck but don’t believe luck really has anything to do with it, as things are based more on evidence.
Bitcoin future?
in
Crypto
Sep 08, 2021 at 02:06
I think the price of Bitcoin will rise because the younger generation is more interested in cryptocurrencies. There are a lot of benefits and it seems to me like the older people are more inclined to stay away from it and stick with traditional money, but more retailers and banks will likely begin to accept Bitcoin and other cryptocurrencies as it becomes more popular.
Professional trading tips for beginners
in
Galvenais
Sep 08, 2021 at 02:04
You made a few good points, although I’d also point out the need to avoid scams and to practice proper risk management.
Losses are a part of trading
in
Galvenais
Sep 08, 2021 at 02:02
Loss is inevitable when trading, the most important thing is to make more than you lose. If you look at it that way losses don’t seem to be that big of a deal. For beginners, it’s worth celebrating even if it’s only a small profit in the end.
How much do you risk in total to make big profits at ago?
in
Galvenais
Sep 08, 2021 at 02:01
I believe a lot of experts recommend never risking more than 1% of your total account balance, so about $1 for every $100 in your account. I typically follow this rule but sometimes I adjust it and risk slightly more if I’m more confident about a trade. Around 3% is the highest I usually go as I don’t like to risk too much.
Beginners Greed
in
Galvenais
Sep 08, 2021 at 01:59
It’s difficult to not feel greedy, although I always lean more towards anxiety, which kind of keeps me grounded because I don’t want to risk as much. Either way I think it’s necessary for traders to learn how to be as emotionless as possible.
Can you become millionaire through expert advisors?
in
Jauni treideri
Sep 03, 2021 at 02:51
I think that EAs do offer benefits, especially when it comes to emotionless trading and trading for those that don’t have a lot of time on their hands.On the downside, it’s hard to find one that will be profitable in the long term.I wouldn’t put too much faith into an EA, but it’s always possible that it could work out.
New at forex
in
Jauni treideri
Sep 03, 2021 at 02:17
Hi! It would be helpful to know what type of trader you are and to have more info about your trading strategy. As for general advice, testing strategies on a demo account, keeping a trading journal, and continuing to educate yourself online can all be helpful.In the beginning, I think that the most important part is to win more than you lose. So those one dollar wins are worth celebrating! Good luck
Leverage is useful or not ?
in
Galvenais
Sep 02, 2021 at 03:19
Not sure if anyone has mentioned it yet but leverage is often referred to as a “double edged sword” for good reason.
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