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Posts by hjacob

How to break out of a funk In New Traders May 16 2017 at 07:24
[quote]mlawson71 posted: It happens to everyone occasionally. My advice is to simply not trade for a while and rest. A few days or a week or so, but rest your mind and then go back to examine the charts with fresh eyes.[/quote] I completely agree with this it happens to everyone some or the other time. However, in such situation taking a break is the best way out. Review your strategy and come up with a re-defined trading plan inclusive of all the money management techniques and with a mind set up to give a fresh start.
DEMO ACCOUNT vs LIVE ACCOUNT In New Traders May 08 2017 at 07:35
[quote]PanMajk posted: [quote]hjacob posted: Yes absolutely, demo and live accounts are more or less same. The difference is psychological as while trading in live account our real money is at stake which make one feel more concerned. However, yes having well developed strategy can make you succeed and overcome this psychological barrier. Demo accounts can also be used for testing strategies before going live. [/quote] I cannot disagree, however I feel like when I start live trading, my strategy is going to fail.. with numerous positions in a row so that my start is going to be super hard. I ...
DEMO ACCOUNT vs LIVE ACCOUNT In New Traders May 03 2017 at 07:37
[quote]mlawson71 posted: [quote]hjacob posted: Yes absolutely, demo and live accounts are more or less same. The difference is psychological as while trading in live account our real money is at stake which make one feel more concerned. However, yes having well developed strategy can make you succeed and overcome this psychological barrier. Demo accounts can also be used for testing strategies before going live. [/quote] There's never any requoting on demo accounts though. That should be taken into account.[/quote] Yes, that’s also a very good point to be mentioned. Requotes are in...
DEMO ACCOUNT vs LIVE ACCOUNT In New Traders Apr 28 2017 at 10:14
Yes absolutely, demo and live accounts are more or less same. The difference is psychological as while trading in live account our real money is at stake which make one feel more concerned. However, yes having well developed strategy can make you succeed and overcome this psychological barrier. Demo accounts can also be used for testing strategies before going live.
DEMO ACCOUNT vs LIVE ACCOUNT In New Traders Apr 25 2017 at 09:06
[quote]snapdragon1970 posted: Forming good habits like setting a stop loss before you hit the Buy button, now you are protecting your capital, you might get the entry wrong a few times, that's something you have to except, then when you get it right hold as long as possible, I started trading with extra cash I had from working two jobs, I started with 100euro on a live account because I was well informed of the possible outcomes, I could afford to lose it and live trading really tests you especially when your new.[/quote] Absolutely right and a wise decision to start with only that much a...
Do you prefer fixed spreads or dynamic spreads? In New Traders Apr 19 2017 at 09:22
dynamic spreads are the real market quotes so there are no chances of markups. many ECN brokers even provide spreads on major pairs starting from 0 pips. However, i do not prefer fixed spreads as brokers manipulate them. I prefer paying nominal commissions additionally rather than having fixed spreads.
How to Be an Expert in Forex Trading: Some Tips In General Apr 19 2017 at 08:54
The most important mantra to be an expert in forex trading is trade with discipline and consistently follow your trading plan. Successful trading is directly proportional to how disciplined one is, and despite of having best trading strategy if a trader doesn’t trade in discipline it can all be ruined.
How to Be an Expert in Forex Trading: Some Tips In General Apr 17 2017 at 07:29
[quote]mlawson71 posted: There are many important factors that influence good trading - money and risk management, knowledge, experience, patience, discipline, etc.etc. I don't think that we could call any one of those more important than they others, they are all important.[/quote] Rightly said, combination of all the above factors mentioned is really very important. One must know that forex success is a mixture of preparation and zeal to become a successful trader. It takes consistent efforts and discipline to yield success.
Should Newbies turn to signal providers rather than trading themselves? In New Traders Apr 12 2017 at 08:19
[quote]bp395 posted: [quote]hjacob posted: Whether being a new trader or an experienced trader, signal provider should always be the second option to go for. Manual trading provides with an opportunity to manage your own risks, by trading yourself one gets sense of confidence to trade more. Undoubtedly losses will be there but learning from them would help you become a successful trader in future. In my view signal providers option is to be opted only when you don’t have much time to trade and wants to earn some extra income. [/quote] I must admit I had never heard such advice. Even if...
Which Broker to choose for US resident? In Experienced Traders Apr 10 2017 at 08:42
You can refer to this list mention on babypips (http://forums.babypips.com/forex-brokers/36221-going-offshore-escape-cftc.html ) to find the brokers that accept US clients.
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