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Beginners Greed
in
Galvenais
Sep 13, 2020 at 13:08
Yes Forex trading is addictive for individuals particularly for new traders despite the fact that it is troublesome. Many new traders can't sleep at night. They constantly watch the market all day and night.
No strategies can help you unless
in
Galvenais
Sep 12, 2020 at 14:33
No strategies can help you unless you don't know how to make it culminate with your trading personality. The market is industriously changing and you have to fit in with these developments. At any rate you anticipated that would do this beginning at starting late. Most techniques quit working when market conditions change and you have to modify the way how you're utilizing your trading framework. Better to make sense of how to make your own specific approach. In the occasion that will save you in all sort of markets.
You need sound mind
in
Galvenais
Sep 12, 2020 at 14:31
A trader needs a sound and composed mind to trade currency. If we are not mentally stable we won't be able to make profit. We need to be emotionless during trading decision. There are traders who can do good market analysis but can't make money by trading due to psychological issues.
Trading Lessons!
in
Galvenais
Sep 11, 2020 at 13:54
Yes our mistakes can be our great lesson if we are willing to learn from it. Every mistake is a good lesson. That's why we need keep track our mistake and analyze them to learn from it.
Beginners Greed
in
Galvenais
Sep 11, 2020 at 13:43
Usually there are two types of emotions on trading that affect a trader. One is fear and is greed. Fear of losing money and fear of losing opportunity. Due to greed traders open big lots and revenge trade. To be successful one needs to overcome this.
Choosing the Right Broker
in
Galvenais
Sep 10, 2020 at 12:49
Choosing a right broker is very important. Your money will be with the broker. So you need a trusted broker so that your money remains safe. A regulated and licensed broker is a good one to choose. You also need to see their spreads, leverage, margin and deposit and withdrawal facilities.
Believes.
in
Galvenais
Sep 10, 2020 at 12:41
Mental stop loss is okay for them who glue their eyes to trading platform until trade is closed. It's all about what you are comfortable. As long as you are making consistent money everything you do is best for you. We have to change what needs to change.
What does matter
in
Galvenais
Sep 09, 2020 at 04:54
Every types of trading works if we know how to do it. Focus on one type of trading and be an expert on it. Don't try too many things. At the end you need skills and discipline to make profit in trading. Nothing will work if you are not decisive.
Gambling type of forex games? Is that true?
in
Galvenais
Sep 08, 2020 at 14:46
Yes it's a type of gambling. Here you bet money like casino. If you win you get 70 or 80% of your betting amount and if you lose the bet you will lose all the money. In forex or stocks you don't bet money you place trades.
Demo Accounts - Which ones stay open with no recent trades?
in
Galvenais
Sep 04, 2020 at 07:43
This types of broker is not customer friendly. Without demo how can we test our strategy. To test a strategy it needs a lot of time. Sometimes 6 months sometimes 1 years. The longer the data the best the outcome.
Forex Amount
in
Galvenais
Sep 04, 2020 at 07:24
Initially 100/200$ is enough. But before going into live trading one needs to develop a system. A system that includes everything. Trade entry and exit policy, money management and risk management policy, good winning percentage and good risk and reward ratio.
Range Trading.
in
Galvenais
Sep 03, 2020 at 11:15
A trader should have skills to trade in both range market and trend market. We never know how long a market will be in range. We nned to be skilled so that we can trade all types of market. But in both types of market support and resistance is important.
Are you afraid to lose your trade?
in
Galvenais
Sep 03, 2020 at 11:09
Fear of losing trade is very common among traders. As Warren Buffet said, fear comes from not knowing what you are doing. If you want to remove fear you need to be skilled enough. Also you have to accept loss trades. But you are not able to recover your loss, you are not ready for live trading.
Broker
in
Galvenais
Sep 02, 2020 at 10:08
Yes for trading we need a good broker. A broker thatis regulated and licensed. A broker that provide low spreads and easy withdrawal and deposit facility. Requotes also need to consider. If you are a scalper you have to find a broker without requotes.
Trend Trading.
in
Galvenais
Sep 02, 2020 at 10:01
It's true that trend is our friend. But market doesn't move in trend all the time. Sometimes for a long time market remains in the consolidation phase. That's why we need to learn to trade in both the market. We have to adapt ourselves with changing market scenario.
When to stop.
in
Galvenais
Sep 01, 2020 at 14:28
Yes placing stop loss is an art. Where to place stop loss depends on your strategy. But one thing you need to consider while placing a stop loss which is support and resistance. You also need to consider spike.
Complete Trading Life
in
Galvenais
Sep 01, 2020 at 12:41
Broker plays a very important role in forex trading. Broker is the medium through which we can do trading online. To select a good broker we have to find a regulated and licensed broker. Low spreads and low transaction cost is also important.
1% risk
in
Galvenais
Aug 31, 2020 at 07:37
Yes 1% risk is very good for trading. Discipline is the key to maintain risk level low. Trading is very tempting. That's why you need to be discipline so that you do not trade whimsically. It needs a lot of practice to be discipline.
Stop Loss
in
Galvenais
Aug 31, 2020 at 07:28
Stop loss should be based on your strategy. You also need to consider support and resistance level to put stop loss. Sometimes a little bit bad calculation can get you hit your stop loss. You need to be smart.
Mistakes.
in
Galvenais
Aug 29, 2020 at 05:16
Mistake is very common in trading. But from every mistake we can learn a lot. Learning from mistake makes a trader experienced. Those who do not learn from mistakes can not be a good trader.
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