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UweMoench
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UweMoench
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Over-trading is a very harmful
in
General
Feb 02, 2021 at 11:05
Over-trading is a very harmful element. I have lost the investment of many of my accounts by overtaking. So I understand that overtrading can cause a lot of problems in psychology. Overtrading can ruin a trading career. The market is open 24 hours but not always traded in the market. Now if you are trading in this situation, you are not eligible to trade. If you do not give up overtrading, you will never see success in trading.
For trading you do not need
in
General
Feb 02, 2021 at 10:59
Forex trading can be one of the simplest ways to earn money. You can earn a lot more money as a Forex trader than you would working retail. You also do not have to worry about the hassles of a regular job. You are basically your own boss if you are a full time trader.
There is nobody who can
in
General
Feb 02, 2021 at 10:58
Losing money is a regular part of Forex trading . there is none who can avoid loss completely from here in spite of good trading knowledge . but by taking some major steps loss can be reduced of course. Behind the losses the main reason is emotions that cannot avoid the traders especially the new Forex traders.
Is trading hard?
in
General
Feb 02, 2021 at 10:49
If you are making bad deals, you should take your time to realise what you are doing wrong. The best way to figure out how to improve your trading is demo. Go back to it and make improvements to your trading strategy or improve your trading skills. It is better to lose on demo than on real account
How much money can I expect to make from trading?
in
General
Feb 02, 2021 at 10:49
Theres no specific monthly return in forex. I think the capital used in trading affects the amount of profits made in a month. The exchange value of the stock market also affects the profits that can be made in a month.
There are lot of traders who
in
General
Jan 31, 2021 at 13:38
A strategy good for me may not good for you. Forex is 90% psychological. And every person is different from others psychologically. My opinion is you should invest your time in learning and researching. Babypips has a very good resources for learning. Trading is all about skills. To make money from here you have to be skilled.
Partial profit talking
in
General
Jan 31, 2021 at 13:36
Partial profit talking is good if you are a long term trader and have a big profit target. Then you can take a partial profit of your trade. But if you are a short term trader and profit target is maximum 40 to 50 pips or so, taking partial profit is not a good idea. You should rather develop your skills for more accurate trading. It's just my opinion. Every trader should have his own trading style.
It has been said that
in
General
Jan 31, 2021 at 13:32
It has been said that practice makes a man perfect. Forex trading is no exception to this. If you enter the market without the best possible practice you should confront numerous troubles. For practice you need a demo account that is well synced with live market prices.
There are lot of common mistakes
in
General
Jan 31, 2021 at 13:32
The biggest mistake people make is they think trading doesn't require skills. It happens when we treat trading just like gambling. But the truth is to make consistent profit you need knowledge and skills.
Learning from the past
in
General
Jan 29, 2021 at 14:45
Learning from the past errors is basic for advancement in trading. Unprecedented traders keep a journal and a great part of the time outline it to perceive what fouls up they have done. By then they attempt not no present near bungles endlessly. I additionally keep a journal for my trading.
Fundamental works 100%
in
General
Jan 29, 2021 at 14:44
Fundamental works 100% because market moves based on the fundamental. But the question is do you have that much knowledge to analyse and predict the future of an economy or your fundamental analysis is based on what some experts are saying on different platform. If you are doing the second one, you are just gambling.
Money management is extremely important
in
General
Jan 29, 2021 at 13:39
Money management is extremely important in trading. By far most of individuals slump in trading since they don't take after incredible money management rules. You can't risk more than 2% of your capital. You can take one trade or a couple but total risk should not outperform 2% of your capital.
NEW TO TRADING
in
New Traders
Jan 27, 2021 at 12:51
For newbie there is no such thing as how much % I should make profit per month. For newbie it's about survival. Whatever % you make, make it consistently. Even 1% is very big for newbie. Don't fell prey into the greediness of making double or as much as possible. Learn to survive the market. Remember one this most people take exit from the market within one or two years.
There is no easy way of learning
in
General
Jan 27, 2021 at 12:50
Make yourself capable first for trading. Invest your time for learning. Most traders start to run for different strategies. They ignore the learning process. As a result they drop from the market very soon. Focus on developing skills.
Manual trading
in
General
Jan 27, 2021 at 12:46
It is better to trade manually. Yes you could use EA for execution trade for any specific price. I mean for pending order. But fully automated is not a good idea. Fear of losing opportunity is one of the destructive fears in trading. It also similar to fear of losing money. Even it's more severe. It's Not a good idea to force yourself in order to make more money.
New Trader
in
General
Jan 27, 2021 at 12:46
Most new traders take trading very lightly. Actually they have been told in most cases that trading is very easy work. There is profit and profit. Everyone is making money. When price will go high you have to sell and vice versa. They ignore the bitter reality of trading. If they were told that for trading first you have to be skilled enough, the things could have been much better.
Not a good idea to follow many pairs
in
General
Jan 24, 2021 at 13:12
I don't like to follow too many pairs. For my trading I just trade EURUSD and GBPUSD pairs. I comprehend these two pairs more as I have done good research on them. To me it is a smart thought to trade a couple of pairs. I figure each trader should begin with a single pair.
Short term traders follow
in
General
Jan 23, 2021 at 08:26
Short term traders follow lower timeframe. In short time frame price moves a lot in both directions. For example, market is moving upward but in my system or strategy their is no good entry set up. In this type of situation the traders who are already not disciplined feel the fear of losing opportunity. They try to find entry. As a result they take impulsive decision. And the same cycle goes on.
New traders become restless
in
General
Jan 22, 2021 at 13:18
Short term traders lose more money than long term mind. The reason behind this is short term trader are less disciplined. Actually the 90% traders are not disciplined. They ignore the psychological aspects of trading. They run for a 100% proven system which actually doesn't exist.
There is no easy way of learning
in
General
Jan 22, 2021 at 13:17
Spend that time for learning. For actual trading you do not need that much time but for that you have to learn to trade on D1 chart. No matter what strategy you follow it doesn't take much time to find a good set up. Either there's a good set up or not. It's the fear of losing opportunity that creates the problem. So invest your time in learning.
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