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Following signals
in
Galvenais
Dec 15, 2020 at 15:51
Following signals is not a ideal option as a newbie. It's the time of learning. Forex trading requires specific knowledge and skills. Even to follow someone you need good knowledge about trading. Be skilled if you want to make money with forex.
New traders become restless
in
Galvenais
Dec 15, 2020 at 15:51
New traders become restless to make money. All day long they try to find out new entry. Even their night is sleepless. But the fact is to make money in trading you need a calm and relaxed mind. When I was new I was also in a hurry to make money. It's because most of the time we are given wrong information about trading. Like making money is vey easy here.
Is math important for trading?
in
Galvenais
Dec 13, 2020 at 11:33
For being a good trader you do not need to be an expert in math. Basics knowledge of math will do the work. Learnt to read the market. Observe charts as much as possible. Do demo practice and apply what you are learning. Learn by doing experiments. Have a learning attitudes. You have to spend a lot of time in learning.
Exit from a trade
in
Galvenais
Dec 13, 2020 at 11:33
Exit from a trade depends on your trading strategy. It is also a part of your strategy. For scalping some people target very few pips. For long term trading risk reward ratio, support and resistance and many aspects are there to decide. Sometimes market situation demands an early exit.
Bonus is not that much important
in
Galvenais
Dec 13, 2020 at 08:31
Bonus is not that much important however welcome bonus or no deposit bonus might be essential for new traders for their practice. Broker use this type of bonus to attract novice traders. When I started trading I also looked deposit bonus. But later I realized that deposit bonus is of no use.
Simple is the best
in
Galvenais
Dec 13, 2020 at 08:31
The less complicated trading system is the best methodology. There are heap of people who like confounded trading system. I think everything depends on individuals. Find what you are good at, use that. No matter whether it is simple or complicated strategy.
Types of analysis
in
Galvenais
Dec 09, 2020 at 13:32
There are two noteworthy analysis for trading. Those are technical analysis and fundamental analysis. A few traders utilize technical analysis as their trading instrument, some are utilizing fundamental analysis for their trading. Also, there are traders who consolidate both technical analysis and fundamental analysis for their trading.
It's very common
in
Galvenais
Dec 09, 2020 at 13:32
It's very common that in higher time frame you will get less trade opportunity than lower time frame. Trading is the combination of all aspects. In higher timeframe you get more pips in a single trade. You have to understand your limitations and act accordingly.
Trading session's
in
Galvenais
Dec 08, 2020 at 13:29
I trade in New York time session. I find this session more liquid than various sessions. Commonly I take after my plans and start to see the blueprints. If I find any set up I open the trade. If I don't find any set up as showed by my technique and trading outline, I don't open any trade for that day.
Most people become unrealistic
in
Galvenais
Dec 08, 2020 at 13:29
Most people become unrealistic when come into trading. In any other business with 10$k, people's profit expectation is realistic. But when it comes to forex their expectation soars 10 times or more. That too with being skilled. Most traders even don't know what they are doing.
I think every successful trader
in
Galvenais
Dec 07, 2020 at 13:28
I think every successful trader has his own way of making money. It's unique. Problem arises when we try to copy others. Or try to impose my strategy on others. Trading is a psychological game. Everyone has his own type of understanding and thinking. That's why 90% traders are loser.
Money and skills
in
Galvenais
Dec 07, 2020 at 13:28
Money and skills are the requirements for forex trading. Most people ignore skills. They don't study, they do not do any research. What they do is collect some ready-made strategies and check them on demo. By doing so they think they have learned. Trading is not that easy. Invest your time in learning (for newbie).
Forex is a decent business
in
Galvenais
Dec 06, 2020 at 13:37
Forex is a decent business in the event that you know how to do it. In the event that you need to get maximal outcome in Forex I think first about all you need to secure most intense breaking down trade information by learning. Without being skilled forex is a money losing machine.
Everyone is unique
in
Galvenais
Dec 06, 2020 at 13:37
Every trader has his own choice and comfort. Some traders use all the time frame to get the market vibes then take entry in a certain time frame like H1 or H4. I personally do not go below D1. I take my entry on D1. You have to find out by yourself which one you understand the most.
Making money is a habit
in
Galvenais
Dec 06, 2020 at 08:09
Making money is a habit. Once you know how to make money, it's not a problem to deal with big money. If you read the life history of rich people you would, they have applied their knowledge in what they love to do and money keeps coming. So you do not need to think like this. Focus on learning and implementation.
Scalping is good
in
Galvenais
Dec 06, 2020 at 08:09
Scalping is good. But new traders should not do scalping. Scalping tends people to do over trade. Scalping is done in lower timeframe where there is too much noise in chats. It's a barrier to develop good trading psychology. Once you are expert with controlling your emotions in trading, you can do scalping also.
Winning and losing
in
Galvenais
Dec 01, 2020 at 10:44
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.
The main reason of failure
in
Galvenais
Nov 30, 2020 at 15:12
The main reason of failure is unwillingness to learning and study. Forex trading is for skilled people. You can't make profit just by following some ready-made strategies available on internet. Beforehand investing your money into market, invest your time for learning. After learning learn to apply your knowledge. It needs time and patience.
Revenge trading
in
Galvenais
Nov 30, 2020 at 07:29
Revenge trading is for the most part determined by the dread of being off-base. It's typically when a trader, originating from an especially baffling misfortune, chooses to compensate for it by being more forceful in his/her next trades. It's the worst thing one trader can do. If you loss any trade, before opening any more trades make yourself relaxed.
Forex is not like gambling
in
Galvenais
Nov 30, 2020 at 07:28
Forex is not like gambling. I have taken trading as a business and a business isn't a betting it is about speculation. Different traders intentionally or unwittingly consider trading to be betting. Thusly they wind up losing their cash. We should see it as a business.
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