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For trading you do not need
in
Galvenais
Jan 22, 2021 at 12:48
Every trader should focus on increasing trading abilities. Trading is not any easy task. You need specific knowledge and skills. Those knowledge and skills doesn't just come to you. You have to achieve it. To achieve it you have to study a lot. And it also takes time. There is no short cut. The quicker one understands this the better.
Forex not fully risk free
in
Galvenais
Jan 20, 2021 at 15:55
Forex not fully risk free. We can not avoid loss we can manage loss. Loss will happen that's natural. We just need to win more than to lose. If we try to be right 100% times it will lead us to more loss.
People come into trading
in
Galvenais
Jan 17, 2021 at 11:40
People come into trading in the hope of making huge money. Well it's good to see dream. But the problem is they want it without learning properly. They want to make money just by learning how to make an entry and close entry. They will learn some ready-made strategies available on internet. After sometime they wonder why it's not working. They think the one or two years that need for learning, I can be rich by that time by trading randomly.
Making consistent money
in
Galvenais
Jan 17, 2021 at 11:40
Making consistent money is possible. But for that you have to skilled enough. It's not a game for kids. You have to give time and dedication for learning. Some people think learning means combination of some indicators. If this happens, do that. But learning is not just getting familiar with some ready-made strategies. It's more than that.
To shine in forex
in
Galvenais
Jan 17, 2021 at 07:51
To shine in forex you require a professional attitude and aptitudes. Without capacities consistent profit isn't possible. Most traders neglect this essential thing. They continue running for strategy without making themselves capable.
Most traders don't get success
in
Galvenais
Jan 17, 2021 at 07:51
It's true that most traders don't get success in forex. The reason is their trading decisions are not based on sound research and learning. They think forex is a cash machine. You trade and procure immense cash. They don't consider it as a business.
Unnecessary trade
in
Galvenais
Jan 12, 2021 at 13:43
Unnecessary trade is a very common problem for newbies. Actually you do it out of confusion. You don't have trust on your strategy and yourself. You should have clear idea about your risk reward ratio and winning ratio. You lack confidence. It comes from not knowing what you are doing. Practice on demo find out your winning trade ratio. The main point is you have to increase your skills.
Unrealistic expectation causes
in
Galvenais
Jan 12, 2021 at 13:42
Unrealistic expectation causes a lot of problems. Being professional is not that easy. Most people behave unprofessionally. Within few days or months they want to make their capital double in possible least time. If you can make yourself professional you can make money.
New and undisciplined traders
in
Galvenais
Jan 10, 2021 at 16:52
New and undisciplined traders always search for an entry. They sit before the chart all day long. Even there are some traders who can not sleep properly at night. It is very bad. Fix one or two trading sessions and search entry in those sessions in higher time frames.
Complicated strategy is not good
in
Galvenais
Jan 10, 2021 at 16:50
It is true that we should not use complicated trading strategy. The more complicated your strategy is the more loss you will incur in trading. Try to keep it simple. Simple is awesome. Simple strategy will help to to find more good entry opportunity.
We should not think
in
Galvenais
Jan 09, 2021 at 22:33
We should not think or set goals unrealistic profit goals. A trader goals should be based on your skills. How much return others are getting that should not be a trader concern. If you are able to make 2%, that should be your goals. Our skills and expectation should match.
Forex trading offers high leverage
in
Galvenais
Jan 09, 2021 at 22:32
Forex trading offers high leverage by which a trader can oversee greater trade with little capital. If you are a position trader it is more clever to utilize low leverage like 50:1 or 100:1. Without a doubt leverage winds up being more perilous when we utilize huge lot in connection to the capital.
For trading discipline is a must
in
Galvenais
Jan 03, 2021 at 07:21
For trading discipline is a must. Without discipline surviving in the market is not possible. No matter how great strategy a person has. It won't help him for long if he is not well disciplined. There are many traders who are good analyst but can't make profit due to lack of self discipline.
Is trading hard?
in
Galvenais
Jan 03, 2021 at 07:20
Of course trading is hard. Trading is a high rewarding work. High reward doesn't come easily. A person needs deep knowledge and understanding of the market to be profitable. He also needs very strong mind set.
How long it takes to be profitable
in
Galvenais
Jan 03, 2021 at 07:20
No one knows. It differ from person to person. And even most people never get into it. It Will depend on various factors. If you come to forex by knowing that it's the easiest thing to do, first you have to unlearn yourself. Then we have to relearn everything. How quick learner you are that's a matter. How well you can apply your knowledge that's also important matter. So it's better to learn without any negative thinking.
Over trading is a bad habit
in
Galvenais
Jan 03, 2021 at 07:19
Over trading is one of the reasons why people make their account zero. If any trade goes against they open new trade thinking that it will help then to recover the loss quickly. By these way they do over trading. It is a really bad practice.
No system works all the time
in
Galvenais
Dec 31, 2020 at 13:29
No system works all the time. You have to adjust or modify it according to the changing market condition. If you can learn how to control your emotion while trading, it will give you good results. And modify your system according to your trading personality and be realistic.
The fear of losing opportunity
in
Galvenais
Dec 31, 2020 at 13:19
The fear of losing opportunity is very dangerous. All newbies have this fear. When markets moves a lot in a certain direction, they become restless by thinking they are losing an opportunity of making money. As a result they try to open trade even if their system shows no signal, and they open trade and lose the money.
Forex is good in terms of return
in
Galvenais
Dec 31, 2020 at 13:19
Forex is good in terms of return it gives if you are skilled trader. Otherwise forex trading is the most difficult job in the world. You have to be enough knowledgeable and skilled. And the psychological aspect of trading makes the trading more difficult.
Most people fail because
in
Galvenais
Dec 31, 2020 at 13:19
Most people fail because most people do not have necessary knowledge and skills. People come here with a expectation of making money quickly and easily. Basically they are introduced forex in a wrong way. If they have been told it will take time to learn the necessary skills, the percentage would have been different.
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