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How to increase trading skills ?
in
New Traders
Dec 19, 2022 at 07:31
There are a lot of things you may need to learn as a beginner in forex trading. If you want to succeed in this market, you might also need to have a specific set of skills in addition to the knowledge that you already possess. It might be a little more difficult for beginners to understand forex because it contains so many different types of aspects, terminology, and ideas. Learning is not simple, but it is possible with consistency and discipline.
Have a plan and stick to it
in
New Traders
Dec 19, 2022 at 07:31
Sticking to a plan can be difficult for beginners but with time and patience, learning through loss, they can build an understanding of market psychology and try to earn more profit.
Need an advice
in
New Traders
Dec 15, 2022 at 11:37
Absolutely, choosing the broker is a decision that cannot be rushed. Personally, I took my time to go live, opened demo accounts with different brokers and went live on fxview & fxpro as their trading conditions looked most favourable for my trading style.
I'm new to Forex trading and looking for some advice
in
New Traders
Dec 12, 2022 at 11:09
Yes, you’ve made some valid points. It is up to the trader to decide which style they wish to move ahead with. This was a helpful post.
Is Forex trading a viable source of income for a new trader?
in
New Traders
Aug 05, 2022 at 07:12
It sure is, only if new traders create a good system after analysing the market and maintain doc-line towards their plan, nothing can stop them from making profit but it takes time. It can’t happen overnight which is why realistic expectations must be set. Start small, learn and then expand, that is when you will start earning. Be patient and wait for good rewards to pour in.
Intraday Trading is gambling
in
New Traders
Aug 04, 2022 at 07:45
If that is how you feel, maybe you should switch strategies and take up a hobby if all you’re doing is trading all day long. You need a break to refresh your mind to make good choices. Gambling only happens when you have no control over your emotions and things start going wary. Find balance and structure and maintain discipline. Change your strategy and come back refreshed.
Free sources of professional Forex education
in
General
Aug 04, 2022 at 07:45
One of the best free sources for professional forex education is the School of Pipsology by babypips. Other than that, you should also follow the biographies or books written by professional forex traders.
Consistency is the brick
in
General
Jun 20, 2022 at 04:52
I agree with this. You need to become consistent as a forex trader to get long term success. It is fine to lose some trades once in a while but your winning streak should be good. It takes time to become consistently profitable in trading. But once you reach that level it is important to work hard to maintain consistency in trading.
Which pairs are your least favorite to trade? And why?
in
New Traders
Jun 20, 2022 at 04:52
I am ok with trading any type of pair in general except for the exotic ones. I tried an exotic pair once and it did not go well. I think we can master any type of pair once we get experienced. But I am sticking to major pairs as of now.
lost
in
New Traders
Jun 20, 2022 at 04:51
Same boat buddy! This is why we joined this forum. All you have to do is read up on some information, learn and practice on a demo for a while until you have a brief idea on what you’re supposed to do. Good luck!
How long does it take one to be consistently profitable with forex trading
in
New Traders
Jun 17, 2022 at 05:27
Take all the time you need to learn and practice. The best traders are experienced. Only through trial and error can you understand what works for you and what doesn’t. Mistakes are a part of life, as long as you learn from them and make amends, how will you know what kind of a trader you are? It is possible but only through time. So, construct patience and stay composed.
Any 500 to 1 leverage brokers left?
in
General
Jun 15, 2022 at 10:15
Many regulated brokers provide 500:1 leverage like XM, Fxview and XTB
90% are loser ..why ?
in
New Traders
Jun 14, 2022 at 10:27
More than 90% of forex traders lose money due to a lack of knowledge in the forex market. Learning new things is something that most traders avoid once they start making money, but they forget that in order to keep the flow of money, they must keep the learning mode on.They should focus on improving their trading knowledge and risk management in order to be successful in the Forex market.
Learning Forex Trading
in
New Traders
Jun 14, 2022 at 10:26
As a trader, your primary objective should be to constantly improve your knowledge and skills. Nowadays, the Internet is the most important source of information. With a single click, you can access all the information you need. Don't give up. In order to be a successful trader, you must continue to learn.
Is forex is best source of income?
in
New Traders
Jun 13, 2022 at 10:01
It can be a good source of income only if you learn constantly and improve your techniques by using the tools available to make good regular profit. To those who do not understand the importance of risk management, they will fail horribly.
Patience is best tool to get success
in
New Traders
Jun 10, 2022 at 11:06
Patience will be tested as you enter the market and start losing. You need to keep going even though you feel disheartened. Pick yourself up and make the most of the opportunity. Do not give up.
scalping easy ?
in
New Traders
Jun 09, 2022 at 06:37
Anything in the financial world requires proper skill and knowledge. Without them, trading is not possible. And something like scalping is far away from possible for such people without knowledge or skills.
Demo can not make you well experienced
in
General
Jun 09, 2022 at 06:32
A demo account paves the way for trading on a live account, But it lacks various elements that a live account has. A live account is really ‘live’ and ‘real’. Here real money is involved, and so are our emotions. A demo account, on the other hand, does not have any real money involved in it. Therefore, there is little to no impact on our emotions while trading. Seriousness can also be affected. As a demo account does not have real money involved, people might not see it as a serious platform. Despite the disadvantages, a demo account really helps one prepare for trading...
Most people become unrealistic
in
General
Jun 08, 2022 at 05:21
Mostly new traders are unrealistic because they get too influenced by the lucrative advertisements by some scam brokers. They think of the market to be an easy place to make money and often make wrong trading decisions.
Mind or Machine? What’s Better For Forex Trading?
in
General
Jun 07, 2022 at 12:43
If you can make use of them in combination, nothing can stop you becoming a successful trader. Make use of your trading bot to eliminate emotions and your market instinct to avoid trading when not needed.
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