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davemack
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Posts by
davemack
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Is forex is best source of income?
in
New Traders
Jun 02, 2022 at 05:56
I wouldn’t call it the best source of income, rather one of the alternative sources of income because the market has a lot of risk and is more complex than you would think. Hence, it isn’t the best source of income but a great platform to earn from if you know what you are doing.
Can you become millionaire through expert advisors?
in
New Traders
Jun 02, 2022 at 05:56
Sure, trading can make you rich but to be a millionaire specially and only through trading is a difficult task. It takes time and experience and an impeccable amount of skill to become a millionaire with trading only. It is possible, yes but highly unlikely.
Any 500 to 1 leverage brokers left?
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General
May 31, 2022 at 13:56
Can try one of these, turnkey forex, eaglefx, lqdfx, sagefx and prosperityFX. They all offer leverage up to 500x.
How long does it take one to be consistently profitable with forex trading
in
New Traders
May 23, 2022 at 05:09
Well there’s no definite answer as every trader has different experiences. Some take months and some take years to learn trading properly so it varies among various traders. It solely depends on the trader’s capabilities how fast they learn.
Ready made strategy doesn't
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General
May 17, 2022 at 05:41
Every trader should develop their own strategy that suits their trading style. It is not mandatory that the ready made strategy will suit you. Furthermore, to learn trading properly you must not follow ready made strategy and build your own. Also, if you don’t work hard on your own you can never learn trading skills and it will be harmful in the long-run.
Signa providers
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New Traders
May 16, 2022 at 04:36
Iimo, deriving trading signals on our own helps us in achieving success in the long run.
New Trader
in
New Traders
May 16, 2022 at 04:34
Hey! Welcome to the community. My advice is simple, before focusing on making profits, focus on saving your trading capital.
Consistency is the brick
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General
May 13, 2022 at 05:15
Nearly all traders work to become consistently profitable. But not all of them are able to achieve the goal. It’s not easy for all traders to keep trading even if they are making losses. This is a major reason why the number of losing traders is so high.
You need sound mind
in
General
May 12, 2022 at 04:58
Every trader’s ultimate goal is to achieve consistency in making profits. They need to have a calm and patient mind that can think of good strategies even if the market is highly volatile and stay focused and disciplined throughout.
What are the popular Techniques for Forex trading?
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General
May 12, 2022 at 04:56
One of the popular trading techniques is “Buy low, sell high.” Most traders buy currencies at low price with an aim of selling them at high price when the market trends upward.
The future of Alternative Intelligence in trading
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General
May 03, 2022 at 06:35
AI is Artificial Intelligence which is a kind of software that analyses the situation and responds on its own according to the programming done. In trading also these AI are known as Expert Advisors or EA. They Identify the potential trading opportunity, does market analysis; both technical and fundamental, place the order and execute the trade.
Anyone suggest me best broker for forex trading?
in
Experienced Traders
Apr 29, 2022 at 06:27
How are the withdrawals, any delays?
5 Things I have learned in 5 years of trading!
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General
Apr 28, 2022 at 03:59
All I have learnt in my trading career is that the right mindset is the key to success. Traders having right mindset are prepared mentality and emotionally to do the hard work with consistency and face the challenges of the market.
Can you borrow money from the bank to trade forex?
in
General
Apr 28, 2022 at 03:58
Yes, there are many banks that offer loans but I’d not suggest you take a loan for trading as it is more risky than trading with leverage.
Emotion in Forex trading
in
General
Apr 27, 2022 at 06:15
Emotion is widely regarded as the leading driver of Forex trading losses. As a result, it would be ideal if we could trade without this distraction.
Newcomers and demo trading
in
General
Apr 27, 2022 at 06:14
Beginners should always practice on demo accounts, which practically all brokers provide. This is because it will provide you with an understanding of how the platform works, how to use various tools, and how to get the most of it.
What is Pip ?
in
New Traders
Apr 25, 2022 at 10:42
The pip is the minimum price movement possible in one transaction. One pip is equal to one tenth of 1%. Usually Forex quotes are in pips, which makes it easy to compare the rate of one currency to another, as well as one currency pair to another.
Anyone suggest me best broker for forex trading?
in
Experienced Traders
Apr 21, 2022 at 07:19
I’ve been using turnkeyforex for over 2 years now, no issues so far.
Have a plan and stick to it
in
New Traders
Apr 20, 2022 at 05:43
It is important to stick to your plan. Without a solid trading plan, you're far more likely to get caught up in the hype of the market. When you're able to get a firm grip on your goals and plan of action, it's far easier to stay focused and make realistic decisions as you're trading. If your plan has been proven to work, then you'll have a higher chance of making decisions based on your plan rather than reacting to the market.
To shine in forex
in
General
Apr 11, 2022 at 04:34
I agree! The combination of experience and knowledge is the key for success in forex trading. Traders need to be very patient and dedicated in order to gain appropriate trading skills and healthy emotional balance.
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