FXOday's Posts - Page 16

The beauty of forex trading in General Oct 06, 2021 at 23:39

Yes, of course, the broker has an important role for traders make money, they like as bridge between trader to the interbank market, but not all brokers use Direct Access Market, there are some broker called market maker or dealing desk broker, which order by the client not directly throwing to the interbank market, but held on the desk if no matches price it will requote.

Any good brokers with proper leverage / cent account for EU residents in General Oct 05, 2021 at 23:48

Demo account very good and important for a newbie trader, but when trader already has long time experience in real trading and trying to come back in the demo, maybe the feeling will different, there no emotion pressure in a demo, I think when trader already confidence in a demo, then they can start to use micro account cent, first time trading I use the micro account, but now already move to use STP trading account.

Looking for reliable ECN brokers... in General Oct 04, 2021 at 22:55

I still use the STP account in my broker, they also as ECN brokers, I use FXOpen.

Every newbie should practice in General Oct 04, 2021 at 00:08

Newbie they still lack in experience and need more guidance, I think better practice in demo account and learn how t0o manage money in account trading, keep in practice until finding profitable trading strategy, because not all trading strategy work, evaluation when strategy less good, at least provide good profit regularly, then trader start in micro account and they can start with 0.01 lot size.

Copy trading in General Sep 30, 2021 at 23:35

Maybe its advantage is copy trading, followers can adjust position size according to their money management plan, not all brokers offer copy trading, some brokers use ZuluTrade as social trading facilitation, another way to investing forex is to use PAMM trading, and looking for the profitable expert advisor.

Are you a full time trader? in General Sep 29, 2021 at 23:41

The full-time trader is a challenging business, I think trader that treats forex as the full time they still have another business as source income, because the trading result in forex is always varying, making a consistent profit is not easy, today maybe we get profit but tomorrow maybe get lost, no perfect trader although as a full time trader

Forex is good in terms of return in General Sep 29, 2021 at 00:22

Forex trading is a high-risk high gain, for long term return if any trader already having good ability to make a consistent profit, it will become a good gain for the long term, but indeed forex is risky, maybe only 15% traders can survive and make money in forex, diversification investment is one way to manage to invest business, an investor suggested to giving less than 30% potion for trading.

Forex your second source of income in General Sep 28, 2021 at 00:21

Forex as the second source of income, I think good to make diversification investment, not only in forex but an investor can make a balancing for portfolio investment, like as buy stocks or mutual funds or bond, forex is high gain business but also high-risk business, treat as the main source maybe if lack confidence will make a trade under pressure, profit today is not guarantee will profit again tomorrow

What do forex brokers rely on to make money? in General Sep 26, 2021 at 23:32

As I know the broker get profit from spread and trading commissions, like as money changer take profit from difference bid and ask the more transaction volume, the bigger profit will be obtainedbut maybe a company not only gets income from its source, but it possible they also work in another investment.

Broker ECN (low spread) Cents account. in General Sep 23, 2021 at 23:16

Yes, I think almost trader will prefer to looking broker that offer low and competitive spread, and most important is trusted company, because so many brokers in the forex world, usually when trader looking new broker will confuse how to decide, but if already decided and use the service with comfortable, withdraw money processed smoothly, trader will enjoy working with these broker. I have been choosing my broker for few years and its ECN broker available also cent account in account micro. Account micro suitable for beginners.

Money and skills in General Sep 23, 2021 at 00:34

Trading need money and skill, if the trader has money but not skills, actually they still can make effort with investing in PAMM project, looking prospect fund manager and invest then waiting fund manager working, this is a good way to invest, but of course, the trader needs to understand, previous performance may be changes at any time, the risk always involved in forex.

Over-trading is a very harmful in General Sep 21, 2021 at 21:09

Overtrading without knowledge is like a disaster, maybe will quickly face margin call account, except traders understand what they do, like as correlation trading pair in any pair that has a positive correlation, called basket trading, they open 28 trading pairs for correlation, but this is also not good trading setup for a trader that only use small funds.

Part time trading in General Sep 21, 2021 at 00:04

Part-time trading in my view is a safe way to learn forex because forex trading is risky, not always traders make the right decision all the time, the price is very dynamic and here required a good understanding how to make g0ood trading profitable strategy, trader part-time can work in forex after going home from the main job, if still get main source income, forex result can be additional income for saving money.

Choosing a new broker in General Sep 19, 2021 at 23:23

I already choose the FXOpen broker and I don't think will look for another broker at present time, so far I have good experience with this broker and this is a trusted company in my experience, already more than eight years using service, and most important this company has regulated.

Many traders think stop loss in General Sep 16, 2021 at 23:46

Stop loss is the way to manage the risk in trading, how to place stop loss each trader having own parameter, some of them using risk level, some another use support and resistance as the place, I think each trader have own preferences to manage the risk, now I am trying to use automatic trading and set stop loss 100 pips.

Profit target? in General Sep 15, 2021 at 23:43

Usually, you will felt regret if set too large a target, in analysis maybe will face where your confidence leading to set larger target due to support and resistance zone level still far, but actually, the market is dynamic and a small target will easier to reach than the large target, so trader also need to learn how to set best target profit

Money and skills in General Sep 15, 2021 at 00:05

How to start trading as trader needs money as capital, they must deposit funds in account trading to start, and skill is very important to manage money in account trading, without good skill hence will so hard to making money in forex trading and this is need l0ong time experience in the learning process to become a profitable trader.

Beginners Greed in General Sep 14, 2021 at 00:21

Greedy is like an enemy that appears from own minds, usually, traders want to make big profits in a short time by increasing lot size, or open multiple orders without pay attention to the risk involved, usually, the result of greed only will leading trader fall in regret, because often greedy making big loss in trading and if faced stop out account hence will losing opportunity to make new trades

Indicators are useless in General Sep 12, 2021 at 23:35

There is so many indicators in forex business, its created by a different expert, so each indicator has own advantage and disadvantage this is not useless creation, because help some traders to make decision trading, but indeed not all indicator are good, there are indicator repaint and no repaint, repaint indicator look perfect in history, but in real trading, sometimes giving a false signal.

Confidence is very important in General Sep 09, 2021 at 23:01

Yes, confidence is important in forex trading, and also trading with calm minds also better than panic, because when trade face panic, usually they will rush in decision making and messed up a trading plan, but overconfidence is not good because maybe it will leading traders to become reckless in decision making with taking higher risk.

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Posts by FXOday