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Don't watch market all the time
in
Galvenais
Apr 04, 2021 at 06:25
Usually new traders do it. They can not sleep at night properly. I can remember my early days. Later I got to understand that we only need to know when to observe the chart.
What is your setup? (platform/software etc)
in
Galvenais
Apr 04, 2021 at 06:22
I prefer mt4 for my trading. I have tried other platforms but in mt4 I feel comfortable. If you understand and feel comfortable in mt5 you can use it.
How much money can I expect to make from trading?
in
Galvenais
Apr 03, 2021 at 14:56
Earning is forex trading is directly proportionate to your skills. If you have skills for 100$ per month, your earning will be 100$. Expecting anything beyond your skills is not good. Then trading becomes gambling.
Over-trading is a very harmful
in
Galvenais
Apr 01, 2021 at 15:07
@ArneilPacula Emotions will be there. But there is difference between reacting to the emotions and responding to emotions. Our decision should be influenced our emotions i.e fear, greed and anger.
Complicated strategy is not good
in
Galvenais
Apr 01, 2021 at 15:03
Yes you are absolutely right. I was talking newbie. Sometimes they get fascinated by seeing complex charts and make mistakes to try that.
To be a successful trader
in
Galvenais
Apr 01, 2021 at 13:59
If you are not professional you can not get success. Professional does not mean taking trading as a profession. It means having necessary skills and mind set for forex trading.
Choosing a pair
in
Galvenais
Apr 01, 2021 at 13:56
Most traders try to trade a lot pairs. But it is not a good idea to trade so many pairs. Trading few pairs will give more insights about those pair as you observe those pairs for a long time.
Unrealistic expectation causes
in
Galvenais
Mar 31, 2021 at 15:02
@nancyadams yes you are right. There should be self made boundary. A trader needs to find out his strength and weakness. Then trade based on strength while working on weakness.
Forex trading is easy for
in
Galvenais
Mar 31, 2021 at 14:59
@Akasuki Yes you are right. Trading is not easy. If it were easy everyone in the market would make money. Forex is easy only for skilled and experience people.
Profit target?
in
Galvenais
Mar 31, 2021 at 14:36
Most traders have unrealistic profit target. Market moves all the time doesn't mean you can have absurd target. Our target should match our trading ability.
To be a successful trader
in
Galvenais
Mar 31, 2021 at 14:10
There is no alternative to learning to become successful trader. It really needs good analytical ability and psychological ability to stay clam.
Most traders are impatient
in
Galvenais
Mar 30, 2021 at 11:53
Yes most traders are impatient and greedy. They want to make thier money double overnight. With some random wins they think they cracked the secret of forex market. As a result they lose money.
what kind of spreads do you look in a broker
in
Galvenais
Mar 30, 2021 at 11:49
For my trading I like zero spreads account. I have noticed that even after giving commission zero spread account is profitable. Because in standard account spreads is higher.
Choosing a pair
in
Galvenais
Mar 29, 2021 at 13:51
It needs a lot of experiment to find a suitable pair. Most new traders do few months of demo and they think they get the edge. But it is not true. When they start trading live they lose money due to lack of experience.
To learn the art of trading
in
Galvenais
Mar 29, 2021 at 13:48
I agree with you that it takes years to be skilled. I have seen people who are trading years but not skilled because they do not try to study and research. They are doing nothing but gambling.
Forex is not scam
in
Galvenais
Mar 25, 2021 at 14:34
Forex is not scam. Some people who have failed in trading used to say that forex is a scam. They think, I didn't make it so no one can make it. But yes, there are brokers that are scam. Do not listen people who say like this. And most importantly you can google it.
Spreads
in
Galvenais
Mar 25, 2021 at 13:16
Spreads varies from broker to broker and account type to account type. In zero spreads account you get very low spreads but you have to pay commission and standard account spreads will be high but won't be any commission. Choose according to your comfort.
Stop Loss Importance
in
Galvenais
Mar 25, 2021 at 13:12
Yes stop loss is important but if you do not know how to place an effective stop loss, you will get the stop out more often than normal. You need good expertise to place stop loss.
profits in forex trading
in
Galvenais
Mar 23, 2021 at 13:19
Both the fundamental and technical analysis are very important for any trader who really want to make success here he must try his best and be learn how to do the forecast and get what its take to succeed here as well
Basic mistake we make
in
Galvenais
Mar 23, 2021 at 13:17
One of the mistakes a trader would make in Forex is trying too hard to recover losses. While everyone would want to minimize the effect of losses on their trade, sometimes, it pays more to always overcome that early emotional anxiety to recover whatever losses we may have incurred. This helps us think well, re analyze the market before entering.
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