ethan_65's Posts | Myfxbook

Do I need to be registered if I am looking an investor? in General Oct 09, 2020 at 09:25

No, it is not a mandate to get verified or registered. If you are trading with an unregulated entity or broker who accepts crypto deposits. Verification is not mandatory.

7 Benefits of using stoplosses in General Oct 08, 2020 at 09:18

Stop-loss has certain advantages which I wish to add in this thread:1. Cutting your losses: Stop loss helps you to cut your losses and ensures you against a big loss.2. Automation: Stop loss helps to automate your selling and hence you do not need to be present all the time.3. To maintain ‘Risk and Reward’: It’s really important to maintain risk and reward while trading.4. Promotes discipline: It’s really important to detach yourself from market emotions.These are my thoughts on the benefits of stop loss for a trader.

Pure ECN broker in General Oct 02, 2020 at 09:28

If you are looking for a pure ECN/STP broker, Go give it a try at turnkey forex and IC markets they both are quite good as brokers. Low commissions pure, ECN spreads, free deposits and withdrawals, and bonus promotions and accept clients from all over the world. Just give a look-see if they suit your conditions.

Demo can not make you well experienced in General Oct 01, 2020 at 09:48

I disagree with that I know that demo does not include real money so there is less risk involved but that does not mean trading on demo does not give you experience. It gives you the experience of trading in real look-alike conditions. The demo gives you the idea that how the market operates, how can we strategize and how can we become effective and efficient to face the live conditions of the market.

Forex is an investment business in General Sep 30, 2020 at 09:15

Totally agree with you. Forex is an investment business you invest your money and you will wait and expect a return with a factor of risk and advantage of return. You have to wait and strategize your investment in the forex to get better returns.

Fundamental Analysis in Experienced Traders Sep 29, 2020 at 09:21

Fundamental analysis is a method of measuring a security's intrinsic value by examining related economic and financial factors. The end goal is to arrive at a number that an investor can compare with a security's current price in order to see whether the security is undervalued or overvalued. Fundamental analysis is as crucial as technical analysis as it studies past performance, prices, market conditions, and factors lead to movement in the market. It is very essential to look for fundamental analysis.

Pros and Challenges of Trading Forex in General Sep 28, 2020 at 08:57

Pros Of trading1.Low CostsForex trading can have very low costs (brokerage and commissions). There are no commissions in a real sense–most forex brokers make profits from the spreads between forex currencies.2. High LiquidityCompared with any other financial markets, the forex market has the largest number of market participants.3. No Central Exchange or RegulatorBeing an over-the-counter market operating across the globe, there is no central exchange or regulator for the forex market. 4. Low Capital RequirementsDue to tight spreads in terms of pips, one can easily start forex trading wi...

Why day trading is better than long-term (Opinion ) in General Sep 25, 2020 at 09:24

Day trading requires a significant time investment, while long-term investing takes much less time. ... Because of these discrepancies, there is a big difference in the potential returns of day traders versus investors. Day traders can make more than the long-term investors as they are dedicated to their trading and they keep a close watch on their trades and long-term investors, they invest and rest so the risk is low but the returns are also low as well.

Expert Advisor...good for beginners? in New Traders Sep 23, 2020 at 08:30

If you are a newbie to the forex market and want to use an EA, you can surely go for it. There is no harm in using EA as a newbie just make sure that the EA you are using must be compatible with your trading strategy. So, I would like to suggest you to test the EA first on the demo account if it shows success continue it with the live account.

Following other's trade ideas in General Sep 22, 2020 at 08:49

In my opinion, do not follow the trading ideas of other brokers just take a reference from them that how he trades, in which conditions, at what time frame, which trade size, leverage, etc. and try them on demo and then change it according to your strategy and idea and maybe you get good results it's like referring for a project from Wikipedia 😁

Why demo is easy? in General Sep 21, 2020 at 08:27

I would say demo trading is not easy it's just risk-free as there is no real money included in the demo trading. Demo trading is basically to understand the trading for a newbie, testing your strategy or your EAs, and getting an introduction about the broker's services and trading conditions. Demo trading is as same as live trading just without the money.

a good trading strategy in New Traders Sep 17, 2020 at 09:24

A good trading strategy always contains each and every aspect of the trading. A good trading strategy comprises of both the technical & fundamental analysis, pre-determined time frame, data of past performances, references from trade signals, and risk management. A good strategy has different definitions for different people but in my opinion, a trader must include the following in his/her trading strategy.

Fundamental Analysis in Experienced Traders Sep 15, 2020 at 08:43

In my opinion, both the analysis are very crucial for trading because both have different impact and effects. Both of the analyses cover different aspects like the technical analysis charts and past data whereas fundamental analysis covers price effects. So both have their separate essentiality.

Expert Advisors for newbie. in New Traders Sep 11, 2020 at 09:14

As a newbie, if you are going to use an EA must choose in accordance with your strategy bcoz there are lots of EAs in the market. It will be confusing for you as a newbie so plot a simple strategy and go for an EA according to that. It will be easy for you to choose from those.

What are two types of analysis? in General Sep 08, 2020 at 09:15

There are two types of analysis 1. Technical Analysis and 2. Fundamental Analysis.1. Technical analysis is more concerned with analyzing price movement by charts. This evaluation helps in the prediction of future price movement which helps to spot the opportunity to successfully enter and exit the market with profit.2. Fundamental analysis is a way of looking at the forex market by analyzing economic, social, and political forces that may affect currency prices. ... Using supply and demand as an indicator of where price could be headed is easy.

Broker for Canadians in General Sep 03, 2020 at 09:20

Try hot forex, turnkey forex, ic markets, and coinexx all are good brokers and have great trading conditions. Low spreads and commissions, various deposit and withdrawal options and accept clients from all countries.

Broker in General Aug 29, 2020 at 09:20

Hello Johannes,According to your specifications, you must go for turnkey forex, coinexx, fxbrew, and ic markets. All these are very good brokers with MT4 platform and a separate member portal with low spreads & commissions.

What do forex brokers rely on to make money? in General Aug 28, 2020 at 09:25

Brokers generally make money by commissions, swaps, spreads,etc. The main source of income for a broker are spreads.

Signals are profitable? in General Aug 25, 2020 at 09:32

Signals are uncertain it is not advisable to do the trading on the basis of the signals. They are sometimes very profitable but sometimes they are not at all. So, do not completely depend upon the signal use them for reference purposes but not accept it as a daily practice.

Impulse Trading and How to Avoid It in New Traders Aug 21, 2020 at 09:30

Go it with a proper strategy, make schedule, do analysis and you never get impulsive in the trading.

EURUSD	1.07599	GBPUSD	1.25452	AUDUSD	0.66091
USDJPY	153.053	USDCAD	1.3685	USDCHF	0.90475

Posts by ethan_65