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Risky business
in
Galvenais
Nov 01, 2020 at 06:32
Due to high leverage and nature of the market, forex trading is risky. That's why traders need to manage their risk. Without risk management, you are making a risky business more risky.
Being successful means
in
Galvenais
Oct 29, 2020 at 11:59
Yes consistency is important. Making some profit here and there is easy. But the real challenge is doing it consistency. For that it requires deep knowledge and skills about the market. It takea time. We need patience.
Discipline is the most basic thing
in
Galvenais
Oct 29, 2020 at 11:56
Yes discipline is the most important thing in trading after a good trading strategy. There are many good analyst who are doing bad due to lack of discipline. It's hard to be discipline where market is moving all the time.
Trading in lower timeframes
in
Galvenais
Oct 28, 2020 at 12:55
Trading in lower timeframes require more expertise. In lower timeframes market is more volatile. New traders should trade on higher timeframe. Once you are accustomed to higher timeframe, you can come to lower timeframe.
Professional trading tips for beginners
in
Galvenais
Oct 27, 2020 at 12:16
Most of losses happen in trading by emotional decisions. You need to control your emotions while trading. It is a difficult task but possible. It requires time. No habit develops overnight. We need determination and dedication.
Choosing a new broker
in
Galvenais
Oct 27, 2020 at 12:12
Choosing the right broker is very important. The first thing we should consider is broker's regulation. For the security of our funds we need a regulated and licensed broker. Then we should look for the services we are looking for.
Be productive
in
Galvenais
Oct 25, 2020 at 14:33
There is no doubt that forex is exceptionally productive business. But to be productive, you have to learn the craft of forex trading. By studying and rehearsing you can do this. For study, you need great educational resources and personal help.
Choosing the Right Broker
in
Galvenais
Oct 24, 2020 at 10:55
While choosing broker avoid non regulated broker. Among regulated broker check the quality of the broker. If you like scalping you have to choose a broker that allows scalping. Requotes is also very irritating. Check for it.
Forex is Hobby ?
in
Galvenais
Oct 24, 2020 at 10:51
Forex is a serious business. You can't take a serious matter as hobby. Here loss is involved. It's not like other pastime hobby in which there is no chance of losing money. You have to treat it as business and work hard to learn.
Most people fail because
in
Galvenais
Oct 23, 2020 at 10:14
@rosellemunsays A person got scammed it because of his lack of knowledge and greed. They become greedy by seeing unrealistic promise and give their money and got scammed. And also to choose a right broker we need knowledge.
No alternative to learning
in
Galvenais
Oct 23, 2020 at 09:53
@AliaDare Yes knowledge is important. Also the application of the acquired knowledge is similarly important. If I know a lot of things but can't apply it in practical, I am not gonna get success.
Why demo is easy?
in
Galvenais
Oct 21, 2020 at 10:20
@marco_mmbiz Every trader behave differently when it comes to shifting from demo to live trading. Yeah other problems are there but mindest or controlling power of emotions is the deciding factor in trading.
how many pips a year do you need to make ?
in
Galvenais
Oct 21, 2020 at 10:17
@haxduum If you can achieve that goal that would be great. But try not to forec yourself to achieve the market. Market doesn't behave same way every day or every months. Sometimes your strategy will not allow you to trade. That time sitting on the line is difficult.
For Newbie
in
Jauni treideri
Oct 19, 2020 at 06:50
For newbie small capital is good. Actually what I think is when you start forget about capital and profit. Focus on knowledge and skills. Most traders make this mistake, they focus on profit at the first hand. They don't realize that forex trading requires specific knowledge and skills. I would recommend to study and research as much as possible.
My Favourite pairs
in
Pieredzējuši treideri
Oct 19, 2020 at 06:49
For my trading I essentially trade EUR/USD, EUR/JPY and GBP/USD pairs. I comprehend these pairs more as I have done augmentation 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. When he take in the characteristics of that pair then he can pick another.
Money Management Tips
in
Galvenais
Oct 19, 2020 at 06:48
Money management is vital for trading. You ought to have a few principles to take after. Trading size ought to be chosen by your money management rules. The most popular rule is don't risk over 2% of your capital in a trade. But, it doesn't mean you can open many trades. Your aggregate risk ought not surpass 2% of your capital.
No alternative to learning
in
Galvenais
Oct 19, 2020 at 06:48
There is no alternative to learning, if you want to get success in forex. Self study is simply the best procedure to get started with forex trading. Subsequently after learning the basic information of trading, it good to take help from a specialist.
Most traders don't get success
in
Galvenais
Oct 17, 2020 at 13:18
Yes only around 5% traders are successful for long term. Lack of skills and psychology is the main reason of such failure. People give more focus on trading than learning. But learning should be the first priority.
Trading time is very important
in
Galvenais
Oct 17, 2020 at 13:13
Yes you are right. In most of time asian session doesn't show much movement. Most of the movement happen UK and early part of New York session. A day trader and scalper should consider this issue.
Learning is a nonstop procedure
in
Galvenais
Oct 16, 2020 at 12:51
Learning is a nonstop procedure. You have to proceed with this procedure. Usage of the learning is hard in trading. One should fathom the forex market advancement and astutely hypothesize the possible market improvement and in this way trade in like manner with bolstered and strong speculation for making due in the forex promote.
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