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Posts by
deanetellez
Fundamental Analysis
in
Experienced Traders
Sep 01, 2021 at 07:24
@lynellmalcolm Both technical analysis as well as fundamental analysis are counterparts to each other. The technical analysis which is based on chart pattern, trends, price and volume behaviour presents the pictorial representation and makes it easier to understand the market reactions. Fundamental analysis on the other hand is a method of evaluating the intrinsic value of an asset.
Forex is Hobby ?
in
General
Sep 01, 2021 at 05:21
@Walton I think this is the biggest mistake a trader can commit by thinking of forex as a hobby. Forex is not a hobby it is a business and if you are into it, it is better to take it seriously. What make traders professional is their willingness to master the Forex market. Forex trading involves making the right trading plan, employing right strategies, embracing challenges and most importantly making and losing money. These aspects are only present in a business not in a hobby.
Having a mentor
in
General
Aug 30, 2021 at 10:17
Right @MarcellusLux not everyone is interested in being a mentor, but one can always benefit from the experience of a successful trader if he is fine sharing it.
To make a good trading plan
in
General
Aug 30, 2021 at 05:00
The only difference between a successful and unsuccessful trader is that one has a plan and the other does not. I once read somewhere that “Trading without a plan is nothing less than gambling” and I completely agree with it. A well-thought trading plan ensures a successful trade and it even helps you learn better through a demo account.
importance of skills
in
General
Aug 27, 2021 at 13:18
@UweMoench I agree that skills, experience and knowledge are important aspects of trading but I want to add another important element to it which is often underestimated, that is, self-control. It is very common for a trader to weigh down under his emotions and see his strategies failing miserably. A good trader must be able to control his emotions to succeed in trading.
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