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Furbelows
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To shine in forex
in
General
Aug 05, 2022 at 07:08
Traders who lack both forex aptitude and attitude have to lose. Because these are the only things that the forex market demands, and when a trader lacks any of them, he/she has to lose because a.) a right aptitude consists of the right strategies, learning, and practice, andb.) a right attitude will never focus on failures; instead, it will help one learn from them and move ahead.
Demo Trading Advantages
in
General
Aug 05, 2022 at 07:07
Yes! That is why a demo account is necessary for trading. Beginners or newbies ignore it completely because of their desperation for earning quick money. But a demo account equips them with the necessary skills and mindset that are required while trading without suffering any losses.
Best broker for cross pairs
in
New Traders
Aug 03, 2022 at 07:54
Spreads with coinexx and lmfx are pretty good even for cross pairs. Can give any of these a whirl.
7 Benefits of using stoplosses
in
General
Jul 29, 2022 at 09:15
I couldn’t agree more. Stop-loss prevents unnecessary losses. And if the right money management strategy is used along with stop loss it can also help in maximising the profits.
When a trader is a newbie
in
General
Jul 05, 2022 at 04:58
Many new traders attempt to increase profits by using high leverage which is a highly risky option. It can lead to heavy losses without proper knowledge and skills. Beginners should prefer using optimum leverage and not risk more.
Very tough business.
in
General
Jul 04, 2022 at 04:09
The reason that you have equal chances of losing your money as of making money is what makes forex trading a tough business. You may want to make the most of every market situation but you won’t be able to do that practically because of the changing market that poses a constant risk.
Money Management Tips
in
General
Jul 04, 2022 at 04:08
Money management has to be the most important trading skill that will help you stay in the market for long. When you know that it’s not just about making profits but also about protecting what you have, you automatically start to take calculated risks and never lose more than your appetite.
Can forex trading make you rich ?
in
General
Jul 04, 2022 at 04:08
Rich has a different definition for everybody! If you wish to become a millionaire, then yes forex, if done with right strategy and planning, can help you become that. But be ready to give in the hard work. It’s not a day’s task! You should honestly commit to it to see the results.
Most people become unrealistic
in
General
Jul 01, 2022 at 05:26
People become unrealistic because they get tempted by the mass amount of money one can make in the forex market. However, they forget that this requires you to put in the hard work as well.Without this realisation, they set up unrealistic goals that don’t yield expected results.
Indicators are useful but
in
General
Jun 30, 2022 at 07:40
Using more than one indicator is beneficial. It acts as a confirmation for the result and enhances the probability of the trade.
What are the popular Techniques for Forex trading?
in
General
Jun 30, 2022 at 07:33
Manual is, in my opinion, the best technique. There are robots and copy trading, but they are not successful in the long run. In this industry, you have to put in the effort to see results, and many people are unwilling to do so.
How much should you invest in trading
in
General
Jun 17, 2022 at 04:51
If you’re just starting out, please do not invest huge amounts. Start small and then expand as you learn the process. As you gain experience, you will get better at making wise decisions, use it to your advantage to make consistent profit.
Can you borrow money from the bank to trade forex?
in
General
Jun 17, 2022 at 04:49
You can, of course. But it is not a good idea. You should avoid such things. If you lose money, it would be a great loss to you. Instead of borrowing money, start gaining the knowledge and learning the skills required for forex trading and save money for trading. Any kind of loan, no matter how big it is, will increase your risk and put you in more psychological pressure, which could lead to debts.
Are there brokers with no withdrawal fees?
in
New Traders
Jun 15, 2022 at 10:17
I’m using justforex and coinexx, both don’t charge any withdrawal fee.
How long does it take one to be consistently profitable with forex trading
in
New Traders
Jun 03, 2022 at 05:52
The time taken to learn would depend upon the person’s learning ability and calibre to a great extent. If you are a fast learner with good grasping power then you will naturally be able to learn in a short span of time. Forex trading is not just about theoretical knowledge and there is more practical learning involved. In order to become a successful trader one will need experience in the forex market that comes with hands-on practice. Use a demo account first and once you get comfortable with trading switch to a real trading account with a small amount of money. I am saying to keep the ...
Free sources of professional Forex education
in
General
Jun 02, 2022 at 06:51
You will get plenty of information about the forex market and trading on the internet. You can also make use of forums like these to interact with other traders if you need any kind of advice or answer. As insiders we can help you with that. Once you are done with the theoretical learning you can start practising on a free demo account for the practical part. Good luck!
Is trading hard?
in
General
Jun 01, 2022 at 06:03
Yes definitely trading is hard without proper knowledge and experience. You can never be a successful forex trader overnight. You have to do a lot of hard work for that. A proper strategy, excellent money & risk management skills, use of stop loss, emotion management, and a lot of patience is all that it takes to be a successful forex trader.
Mind or Machine? What’s Better For Forex Trading?
in
General
Jun 01, 2022 at 06:03
Mind is always better than a machine because a human mind can make machines but no machine can make a human mind. A trader must always use his own mind for trading rather than using machines or automated bots as the human mind is the best analyst and machines are only meant to assist us.
Most people fail because
in
General
May 31, 2022 at 05:45
It is a major problem for new traders. They always join forex with wrong information. Most of them believe that just investing in forex can earn them huge profits. In reality, a lot needs to be done to grow that amount of money into something big.
Ready made strategy doesn't
in
General
May 10, 2022 at 04:06
Ready made strategies may sometimes work for traders if their trading style matches with the strategy. It can be a good way if a trader is not able to build a good strategy for himself. Even if a strategy is not suitable for a trader, it can be modified according to the requirements.
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