FXOday's Posts - Page 21

Losses are a part of trading in General May 12, 2021 at 19:52

Loss sometimes inevitable, this is part in trading forex, sometimes get margin call account also possible when always trade make the wrong decision, if trader can't accept loss as part in forex trading., hence this, not suit and forex not their place

Ten years trading, focusing on USDJPY in General May 11, 2021 at 23:20

I am rarely to trade on pair USDJPY, but only sometimes if likely movement is good and easy, usually I like to trade on EURUSD and EURJPY, this is my favourite pairs, but sometimes I am trading also in XAUUSD, the movement is crazy, although risk higher but this like as a challenge.

Two important book about trading psychology in General May 10, 2021 at 21:32

Psychology has a high role in every trading decision, this is about how to control emotion because sometimes emotion like as enemy that appears from own selves, reading psychology book maybe help to build up better psychology, but actually will back to each trader personality, if trader cant improves their own selves will hard to make better psychology trading.

Don't go against trend in General May 09, 2021 at 23:36

Yes many traders said the trend is our friend, but the market itself has dynamic characteristic, the trend could reverse and discontinue, here also required more understanding to analyze when the trend will end, so the trader can more carefully to brake their minds to minimize the risk, if use Alligator minds, sleep when full, out when hungry

Forex game is not business in General May 06, 2021 at 23:45

Yes forex is a real business, but this can do at home, in a pandemic situation in the world, where there are so many people who fear to move out on the crowd, forex trading is one business that not affected by this condition because we can work from home, sitting in front of the laptop and have more time for family, in addition, is already making money through forex business, will become happy family because has more time for the kids, I alone treat forex as the main business now because enforced by condition.

zero spread brokers needed in General May 05, 2021 at 23:23

FXOpen provides variable spread from zero on ECN account, but I have no experience trading in ECN account still work in STP account with variable spread, ECN usually take a commission from every trades made by traders.

Forex your second source of income in General May 04, 2021 at 21:20

Yes I think so too, but the main point is about skill trading, although having huge capital but not supported by good skill, it will losing money, built up a good mindset indeed can improving trading skill, forex business can become the second source of income if trader already reached level profitable trader, but for losing trader forex is risky business. we also need to measure our own ability about this matter.

THIS INFORMATION WORTHS YOUR TIME ONLY TAKES 5 MINUTES in General May 04, 2021 at 00:01

Sometimes different trader has a different experience in the broker, maybe I am the only trader that falls in luck, I don't faced any problem like that, but yes they provide variable spread, it's mean they, not market maker because the price will be depending on liquidity provider, and spread based on the market,

Web-based trading in General May 02, 2021 at 23:11

Yes I think it better to use MT4 or MT5 for desktop and installed it on the computerthe problem using web-based maybe we need to refresh the page if leaving tab a while, this needs more time to lead the platform

Beginners Greed in General Apr 30, 2021 at 03:56

Greedy is like our own enemy, this is included as bad psychology trading, how to control greed also need high intention and having a good mindset, forex trading is no easy way to get rich at a short time, every time trader being greedy, they jump in high-risk trading, although if in luck will get high profit, but luck will never come all the time

Web-based trading in General Apr 28, 2021 at 22:52

Web trader platform I think can become an alternative platform when far away from our PC or device, but I am alone very rarely to use web trader platform, because still often access trading at home with a personal laptop if, about comfortable use, MetaTrader platform for pc is more reliable than web trader, it's only my opinion.

There are lot of common mistakes in General Apr 27, 2021 at 23:07

Sometimes from the mistake, we can learn something then, and after understanding the mistake than trying to make new rules how to avoid the same mistake not repeated again, but sometimes the hard part is how to control our decision, fear missing out, become a common problem during the trading time, choosing broker indeed very important for a trader.

Learning is a nonstop procedure in General Apr 26, 2021 at 23:05

Forex trading is a long time journey, as long as trader still hold forex as their profession, hence learning will never stop ending, because the forex market always changes, the market is full uncertainty and as a trader must be flexible to follow the market, like as many traders said if the trend is our friend, but sometimes in friendship there are some intersect each other, we should realize if we are not perfect.

Many traders think stop loss in General Apr 25, 2021 at 22:46

Usually to place stop loss trader will using support and resistance level, the reason is simple if these level has a breakout, it's possible the trend will change, but there is another trader maybe use a different method to place stop-loss, like as using ATR to get average range on the timeframe, sometimes stop-loss indeed make regret if occurs after price hit stop loss but then few moments later the price reached the target

Signals are profitable? in General Apr 22, 2021 at 22:31

I have no experience using signal, but when trying to monitoring and try, they also have a mistake and not always true.Still prefer to develop based own strategy instead use signal.

When a trader uses small in General Apr 21, 2021 at 21:26

Yes I think about mindset or psychology trading has a role for short term trading, in this case, understand with own selves might resolve the problem, if likely often emotion because of one loss, maybe next trading days can trying only trades once or two transactions if risk limit already achieved, rather than follow emotion.

Purpose of demo trading in General Apr 20, 2021 at 22:32

Demo trading is used properly, it will help the trader to prepare to make money in the real trading account, but usually in demo trading start with huge capital, let say 5000 USD, but in real trading account only use small money less than 500$, if trader serious in demo account I think they can start with $100 to learn how to manage the money in uncertainty market condition.

When a trader uses small in General Apr 19, 2021 at 21:59

Trading with small capital must be accurate in first decision trading and make a profit, because if only has small money and then first trades get loss, the money will decreasing and will harder to recover the loss, trading with small money maybe suits use scalping strategy with quick action buy and take profit or cut loss

How to know, which brokers is the best in forex? in General Apr 18, 2021 at 22:15

The first thing for consideration I think about regulation, this is become talked in many forum communities become the main topic when choosing broker, because regulated broker assign if they have legality to operation in the industry, this as first thing to minimize enter in the trap where company just want to scammed trader, then reading a review from an experienced trader that share their experience since uses service this brokerage, usually good broker will get so many positive feedback from traders

profits in forex trading in General Apr 15, 2021 at 23:13

There are so many options to investing in the financial market, if you cant make a profit from forex trading, stocks or crypto trading maybe become another option, forex trading needs more special skill to make money, not every investor trader suitable and make money from here, although there are two edge opportunities, buy and sell might get profit, but the risk also has same portion, even higher risk, because of your emotion and fear.

USDCAD	1.3778	USDJPY	157.699	GBPUSD	1.249	EURUSD	1.0667	GBPJPY	196.973
EURGBP	0.85397	EURCHF	0.98082	EURJPY	168.247	USDCHF	0.91943	AUDUSD	0.6471

Posts by FXOday