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Psychology of trading
in
Galvenais
Feb 28, 2023 at 11:35
The psychology of trading refers to how traders' thoughts and emotions influence their decision-making process and trading behavior. Key factors that can affect a trader's performance include fear, greed, overconfidence, and impatience. To succeed in trading, traders must develop self-awareness, emotional control, and discipline, and understand that managing their psychology is just as important as technical analysis and other trading skills.
Scam Brokers You Should Stay away from
in
Galvenais
Feb 28, 2023 at 11:33
IG? That's unexpected.
Looking for the best broker
in
Galvenais
Feb 28, 2023 at 11:33
Fxview if you are looking for cost efficient broker (commission is $1 per side), BDSwiss if you are looking for reliable trading platform (simple and efficient)
Why are some traders successful?
in
Galvenais
Feb 28, 2023 at 11:31
For me, knowledge and experience - I truly believe that successful forex traders often have a deep understanding of the markets they trade in, as well as a wealth of experience in trading.
Money Management Tips
in
Galvenais
Feb 28, 2023 at 11:28
With my trading experience, here are some money management tips for forex trading:1. Set a budget you're comfortable with2. Use stop-loss orders to limit losses3. Use leverage carefully4. Stick to your trading plan5. Don't risk more than 2% of your account on any single trade.
Newcomers and demo trading
in
Galvenais
May 13, 2022 at 04:01
ya, that's true. Demo trading is the first and most important step to start for trading.
Various Reasons why ppl use a lot of brokers.
in
Galvenais
May 13, 2022 at 04:00
Ya OP, that is factually true. There are so many brokers giving various services to clients that they can pick and choose which one works best for them. For me, the reason why I picked fxview is because of their low-cost commission, which is just $2/RT. And pepperstone for cTrader trading platform.
Is trading hard?
in
Galvenais
May 13, 2022 at 04:00
Surely realizing that trading is definitely not easy to start, but all it takes is patience and preparation and understanding how forex market works will get you far and can constantly improve your skill.
Demo can not make you well experienced
in
Galvenais
May 13, 2022 at 03:57
I strongly disagree. I believe that demo trading exists solely to assist you to refine your methods or backtest your strategies, given that you are not spending money in your demo trading. When compared to live, one thing you will not be able to feel is emotions when placing an order.
Emotion in Forex trading
in
Galvenais
Feb 25, 2022 at 11:30
You cant runaway from emotions. They are the part of a trader's mindset. How well you tackle with it and handle your profits and losses is the key in forex trading.
Best Broker for a Newbie
in
Jauni treideri
Feb 25, 2022 at 11:23
@Jude_craig Last time when I used them, they were all on quick feet. Maximum withdrawal was within a day.
High Leverage
in
Galvenais
Feb 25, 2022 at 11:23
Leverage is a tool and should be treated as that only. When you are thinking of opening a bigger position never use more than the basic leverage. stick to the 30:1- sufficient. Understand the usage and then open trades.
Consistency is the brick
in
Galvenais
Feb 25, 2022 at 11:19
76% is good number mate. Nice!Traders run behind consistency but truth is that not every trader has top notch systems to bang the market. Therefore randomness is more often seen for profits and losses. For a consistent journey right approach should be there that comes after drilling the each aspect of trading.
Very tough business.
in
Galvenais
Feb 11, 2022 at 12:04
Forex is not something where you can expect a quick making money account, it is much more than that. And because it involves lots of knowledge and skill, it can be seen as tough and hard business to crack
Best Broker for a Newbie
in
Jauni treideri
Feb 11, 2022 at 12:03
Can agree with you on IC Markets. One of better brokers to trade, along with fxview and pepperstone.
How to start forex trading? Read These Best Tips!
in
Galvenais
Feb 11, 2022 at 12:01
Great note, I think it would be much easier read if there is bullet or pointer next to it. I had a hard time reading, and not seeing the heading that should be showcased,
Should anyone give up?
in
Galvenais
Jun 02, 2021 at 17:21
If you are not consistently profitable or your strategies are not working then you can plan to quit trading for sometime, but not quit it altogether.
New and undisciplined traders
in
Galvenais
Jun 02, 2021 at 17:16
That's right. Regulated brokers ensure safety of funds as compared to unregulated ones.
Fxview
in
Brokeri
Jun 02, 2021 at 12:24
Fast order execution, no requotes and stable server connection. Best for scalpers.
Timing is important
in
Galvenais
Mar 17, 2021 at 07:41
Sometime right timing can be beneficial to know what you can do in market, but do not be dependent on that.
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