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UweMoench
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UweMoench
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scalping anyone??
in
General
Jul 04, 2021 at 10:53
@Akasuki Yes newbie should not do scalping. Scalping is done in lower time frame and in the lower time frame market moves a lot. As a result a new trader start over trading without realzing anything.
importance of skills
in
General
Jul 02, 2021 at 13:33
@Dictiony It's difficult without skills and experience. Forex is not something easy that one just comes and start making money. It needs a lot of dedication and patience.
Not gambling
in
General
Jul 02, 2021 at 13:30
@Dictiony Gambling not just makes one greedy, it reduces the possibility of being a good trader. By doing gambling a trader hamper his mindset. It's very difficult for them to control their impulsive mind.
Forex is a decent business
in
General
Jul 02, 2021 at 13:21
@Mauk Yes to be successful, one needs to figure out how to make money without losing money. Success in trading is the combination of few skills. And ot takes time to get them
How long it takes to learn
in
General
Jul 02, 2021 at 13:18
@Akasuki Yes the skills that needs to be consistently profitable, takes a lot of time. It takes years of practice and experiments. Getting the technical knowledge may need less time but getting a mindset takes time.
importance of skills
in
General
Jun 30, 2021 at 12:22
Success in forex trading depends on how skilled you are. If you are not skilled, you will be kicked out from the market soon.
When loss occurs
in
General
Jun 30, 2021 at 12:19
@williearnold Yes accepting the loss is important. Most people can not accept loss. As a result they take revenge trades and lose more mony.
Free sources of professional Forex education
in
General
Jun 30, 2021 at 12:10
If you do some searches you will get lot of good books on forex trading. Pdf of those books are available on different websites. You just need dedication and willingness.
To be a successful trader
in
General
Jun 30, 2021 at 12:05
@Akasuki Yes people forget that money comes from skills. But they want to make money without skills and end up doing gambling.
Loss
in
General
Jun 29, 2021 at 12:55
Loss is a part of forex trading. That's why money management and risk management are important in trading. Every trader should take measures to reduce risk.
DEMO ACCOUNT vs LIVE ACCOUNT
in
New Traders
Jun 29, 2021 at 12:53
The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.
Why stop loss order are important and tips ?
in
General
Jun 29, 2021 at 12:36
If you are a short term trader, and don't use stop loss. You may end up losing all the money if market goes against you. In short, sometimes market retrench a lot.
All the successful traders
in
General
Jun 29, 2021 at 12:32
If an individual wants to make money by forex trading, he needs to be highly skilled both technically and psychologically. Otherwise it's not possible to make money here.
Most people fail because
in
General
Jun 27, 2021 at 10:38
@Duktilar Yes I agree with you. Many traders lose money due to their overconfidence. They open lot of trades and big lot. But the end result is margin call.
Most traders don't get success
in
General
Jun 27, 2021 at 10:35
@franklinmckinney Yes, you are right. But unfortunately Most people are not willing to give time in developing skills and knowledge. They are so focused in trying to earn though they can not.
What works?
in
General
Jun 27, 2021 at 10:24
@CocoChannel Yes you are right. Along with knowledge, we also need the capability to use the knowledge effectively. Knowledge becomes powerful when applied.
You don't need to be
in
General
Jun 27, 2021 at 10:20
You don't need to be correct 100% of the time.If you are correct 50% of the time and have 1:2 risk reward ratio, you will make money here. Problem is we want to be 100% correct and do not want to follow any discipline.
New traders should be content
in
General
Jun 26, 2021 at 11:19
Suggestion for newbie traders is try to understand the trading business. You have to have knowledge and skills to do good in trading. Don't expect to make money just by entering into the market. Try to learn the mindset a professional trader should have.
Forex Trading Psychology: Levels of FEAR
in
Experienced Traders
Jun 26, 2021 at 11:17
Fear is a part of forex trading. Usually after losing some trades traders become fearful. To overcome the fear we need good knowledge and skills of trading. When we know what we are doing, it becomes logical and fear disappear.
forex new trader
in
New Traders
Jun 26, 2021 at 11:12
New traders always look for an entry. They sit before the charts throughout the day. Indeed, even there are a few traders who can not rest legitimately around evening time. It is terrible. Settle maybe a couple trading sessions and inquiry entry in those sessions in higher time periods.
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