FXOday's Posts - Page 19

Forex is not like gambling in General Jul 08, 2021 at 23:29

Yes, forex is business and not gambling, but depending on yours as an account holder, if want to work as a gambling trader you can bet in the forex market based on luck only, and forex trading is not based on luck, it required experience, knowledge patience, forex trading is high-risk business but not as gambling.

Signals are profitable? in General Jul 08, 2021 at 00:02

I never follow signal trading, but I think it unprofitable because although it's signal may profitable you as a follower don't understand the reason why to buy and why to sell, meanwhile, Traders need to understand the reason behind buying and sell orders before they entering the market, signal trading cant giving good lesson for a trader that really want to become trader, except they as investor trader, no matter don't understand the reason, as long as signal provider profitable they can make money from it.

Forex trading offers high leverage in General Jul 06, 2021 at 23:39

High leverage is dangerous, especially for a trader that can't control their greed very advisable for a beginner to use low leverage for start trading in real account, because low leverage will prevent over trading and greed, due they not enough margin to open new trades, but for some trader use high leverage is useful for a certain trading strategy like as martingale trading system

About news trading in General Jul 05, 2021 at 23:02

Yes like as NFP news on the last Friday of this month, effect the news giving high impact to the market, where suddenly some pairs move rapidly, like as EURUSD move up only a few minutes then bounce back and then up again, it can make confused to handle position, because this reason some technical trader prefer no trade.

What safety measure I need to take before choosing any forex broker? in Experienced Traders Jul 04, 2021 at 22:49

I am already found my broker and work with them for more than eight years, so far so good and no problem, this company regulated in ASIC, FCA, and Cysec, namely FXOpen broker, about spread in my view also included low or competitive spread, especially pair USD included XAUUSD.

When loss occurs in General Jul 01, 2021 at 21:52

Loss is part in trading if get loss better stay cool., don't angry too much, because if anger control minds, all decision later willfully make a regret, if a trader in emotion, stop trading and close your platform, because if enforcing to start open new trades, usually based emotion not based logic analysis.

Looking for reliable ECN brokers... in General Jun 30, 2021 at 23:03

I am not looking for another broker for now, because so far I am already joined to FXOpen as a broker that has regulated on ASIC, FCA, and Cysec, offer account micro, STP and ECN also Crypto account, included low spread broker but they use variable spread due to No dealing desk broker.

About news trading in General Jun 30, 2021 at 00:00

Yes indeed not easy to predict News effect, sometimes forecast and actual data should make the currency being stronger, but what happens is opposite, because this reason not all news giving exact impact into currency but reading the news is important because the trader can make preparation trading, like as technical trader usually stay away from the market if there are news high impact like as NFP

Trading with borrowed money in General Jun 28, 2021 at 23:39

Yes, I think so, ideally, in real estate, the price will arise from years to years but borrow money also need to pay an instalment, if fail to pay it will become a new problem in life, if possible to live without loan I think will more comfortable to sleep.

You don't need to be in General Jun 27, 2021 at 21:34

Yes very difficult to always correct all the time, sometimes we get fail and lose, even more, if get successive loss manual trading can lead emotion arises, now I am trying to use forex robot in my trading on pair EURUSD in my account FXOpen STP, trying to survive account

How long it takes to learn in General Jun 24, 2021 at 22:46

Patience is very important to run a forex business for a long time because there is so many traders when get fail in forex for the first time, then leading them to quit forex because they don't have patience and passion in the forex industry, forex is long term business about how to manage money to make money.

Why stop loss order are important and tips ? in General Jun 23, 2021 at 23:14

Retail trader they only follow the market to making a profit, trading against the market is a disaster, but in fact not always trader having precisely prediction all the time, when getting in wrong direction stop loss or cut loss is one way to manage the risk, as trader retail only trying to manage the risk but they cant control the risk, its why important stop loss for them

Why stop loss order are important and tips ? in General Jun 22, 2021 at 23:34

Using trailing stop is a good trading plan when the strong trending market, usually I like to manual stop loss and modify when needed, looking at the level price that formed support and resistance zone to placed stop loss.

A good strategy can in General Jun 22, 2021 at 00:47

A good trading strategy can make a profit on the end, there are strategy with small pips target but bigger stop loss, and there is a strategy with small stop loss and bigger target, both has own advantage and disadvantage, small target if always hit will making good profit but once loss can be lost all profit, tight stop loss maybe often hit stop loss but once profit can recover the loss.

There are lot of common mistakes in General Jun 20, 2021 at 23:20

This is not a good habit actually, making a huge profit will leading them to take a high risk with greediness, what happens later usually not a profit that obtained but regrets already trading high-risk taker because the account does not last long will get margin call account.

How long it takes to be profitable in General Jun 16, 2021 at 23:29

I think many traders at first time trading career they cant maintain an account for more than six months, so if any trader already able to make consistent profit more than four months it's already a good trader, and to achieve this level also depending on each trader skill, knowledge, and experience.

How long it takes to learn in General Jun 15, 2021 at 23:11

Yes each trader has their own time progress to learn forex like as in-crowd people, there is a person with very aggressive to talk, but there is a person with character as calm and cool in every action, in forex trading, there is an aggressive trader and there is co0nservative trader, time is no matter, but skill is the problem.

Purpose of demo trading in General Jun 14, 2021 at 23:34

Using the demo account will depending with each trader purposes, for beginner, they use demo account because they want to learn how to trade, implemented all trading strategy that learned, but for the experienced trader, they use a demo account for testing purposes with new trading system or forex trading robot, if already passed demo account with the confident trader can start using micro account, first time use the micro account I am uses FXOpen

Forex is a decent business in General Jun 13, 2021 at 23:45

Not only in forex, all business need to learning, anyone that want to driver they need to trained how to drive, if want to cook they need to learn how to cook, in forex if want to become trader also need to learn how to trade, this is basic information, but ins and out of forex is very complex, how to trade well and profitable need experience and good skill, first-time trade I use cent account FXOpen to learn, but now already move to use STP account

importance of skills in General Jun 10, 2021 at 22:56

Yes, maybe we need to change the main mindset, although the main goal become forex trading is making money, but here loss also as part of the game, so trading with fun and trading with rush maybe will different result, mostly trading with fun will more controlled than rush trading

EURUSD	1.07599	GBPUSD	1.25452	AUDUSD	0.66091
USDJPY	153.053	USDCAD	1.3685	USDCHF	0.90475

Posts by FXOday