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Numeromatt
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Posts by
Numeromatt
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To shine in forex
in
General
May 15, 2021 at 08:30
Knowing simply the basics won’t suffice. When I first created a demo account after doing a half-baked course on trading, I thought I had the ground covered and went live after a week on demo trading. Obviously i lost all my money. So no, only basic knowledge will not do. Polishing, or “shining” of skills is so important.Backtesting is important.Consistent rework on trading plans is important. Because when I restarted my trading career with the same broker and the same platform, but with a different approach, I saw profits.So there’s no room for complacency in trading, p...
ECN with and without commissions.
in
New Traders
Mar 23, 2021 at 07:08
Before going with a broker that is offering low spreads, you should know the average rates for a currency pair you want to trade. This will save you a lot of hassle later.
Can withdrawals be processed in less than a day?
in
New Traders
Mar 22, 2021 at 12:17
To see how fast a broker is with withdrawals, you can open a small account with them, make a trade and try to withdraw. If it takes a long time to process, you'll know. Generally it doesn't take more than a week to process withdrawals but again that depends on the broker.
Can withdrawals be processed in less than a day?
in
New Traders
Mar 21, 2021 at 10:06
That should probably depend on how fast the platform is.
Metatrader + wide currency options
in
New Traders
Mar 16, 2021 at 09:53
I say you use both MT4 and MT5 and then decide. You’ll get more options with MT5 like stocks, futures, CFDs apart from currency pairs. But MT4 is kind of limited to forex pairs but that’s also a good thing on its own.
When a trader is a newbie
in
General
Mar 10, 2021 at 12:06
It is good that you decided to stick to a strategy and learn it properly first. Hope you get there soon!
High leverage = High risk?
in
New Traders
Mar 09, 2021 at 12:14
True, in a way! But don’t you think that the forex market has no place for those who are not ready to take risks. At some point in time, every trader will have to take one or the other kind of risk.
High leverage = High risk?
in
New Traders
Feb 23, 2021 at 10:43
I find leverage as a good way of enhancing your profits. But we cannot overlook the fact that it also amplifies your losses. Use leverage only when you are sure about a market move. If it is about testing leverage, you can go up to 1:10 because beyond that would be quite a high risk.
ECN with and without commissions.
in
New Traders
Feb 18, 2021 at 11:06
Sure! There are plenty of low commission brokers out there. You’ll find one easily. I suggest you go with a low commission broker instead of a no commission one. This will save you some hassle.
No one should depend upon luck
in
General
Feb 17, 2021 at 09:44
Agreed and I personally have come across many traders who usually get confused by looking at the charts. Call it their inexperience or the lack of practice, but they don’t understand that a buying opportunity in a weekly chart can be shown up as a selling signal in the intraday. What they’ll learn with practice is that in case a weekly chart is displaying a buy signal, a good trader should wait until the intraday also confirms the same.
What trade size and leverage to use in forex?
in
Experienced Traders
Feb 16, 2021 at 09:43
There are several types of lots you can trade and even True Dennis, for someone new micro lots is suitable. But overall, standard lots and no matter how much leverage you use it all depends on your learning capacity.
What trade size and leverage to use in forex?
in
Experienced Traders
Feb 11, 2021 at 10:35
Demo accounts are not so helpful because we are not gaining emotional control of ourselves while we trade demos.
What trade size and leverage to use in forex?
in
Experienced Traders
Feb 08, 2021 at 12:03
Same type of money you will not make as you did in the demo. Demo account I believe works to offer you live quotes and a virtual portfolio to learn from the real market conditions.
What trade size and leverage to use in forex?
in
Experienced Traders
Feb 02, 2021 at 09:53
Yes, there’s no other way of finding out how you should be trading. A demo account will tell you if your strategy is right, or if you need to make any changes.
Number one biggest mistake
in
General
Jan 29, 2021 at 13:40
Right! I am always an advocate of leverage because without that, earning substantially in trading is not quite possible.
What trade size and leverage to use in forex?
in
Experienced Traders
Jan 28, 2021 at 13:32
No matter which broker you use you won’t get the same results as you were getting on your demo account, so it doesn’t matter.
Number one biggest mistake
in
General
Jan 25, 2021 at 12:23
I absolutely agree Martingupttil, newbies don’t think about the amount of effort required for learning trading. All of those years where now successful traders earned only peanuts while learning trading, is not seen by many people. Sometimes it can take a lifetime to make substantial profits.
Can withdrawals be processed in less than a day?
in
New Traders
Jan 25, 2021 at 10:59
I don’t know about Fxview, but doesn’t ICM have a nasty reputation of taking weeks for withdrawals?
What trade size and leverage to use in forex?
in
Experienced Traders
Jan 22, 2021 at 10:35
I am also not saying that leverage should be used blindly, there has to be math to it.
What trade size and leverage to use in forex?
in
Experienced Traders
Jan 14, 2021 at 12:25
Leverage is a good option to use, don’t listen to those telling you that it should be avoided.
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