mab8's Posts - Page 2

What is the trading psychology for you? in General Jul 27, 2021 at 14:27

I feel it is helpful to take deep breaths, and take the time to think with a clear mind. To do this you need to stop, close your eyes, play instrumental music - anything that can work well for you. The key is to be focused so as to make sure there are no emotions bugging you while you are trying to make final decisions in trading.

Risk Management together with Leverage and Lot size in New Traders Jul 26, 2021 at 12:24

Risk management is very important. And it is not only about using a formula. You need to devote time and keen analysis to establish what is really going on and be able to make a good prediction.

Overconfident in New Traders Jul 26, 2021 at 10:59

I would suggest trying to ask yourself every time whether you feel that this decision is safe enough considering the risks you can see and predict? Making this a habit could help. I like to do this myself.

Money Management Tips in General Jul 23, 2021 at 07:42

Money management is very very important, and so it risk management. They need to go hand in hand. You also need to have some proper knowledge of the market. Money management will be based on a plan that you have, and as you said every trader will have his ir her own plan, such as not exceeding 2% of your capital in any trade.

Gambling type of forex games? Is that true? in General Jul 23, 2021 at 07:38

Forex trading is not gambling unlike what some tend to think. Trading requires analysis and careful evaluation, and you need to be knowledgeable. Gambling is only about luck.

Trading Psychology in New Traders Jul 22, 2021 at 11:29

Thanks for sharing. I agree that the way you let your mind think needs to be controlled as otherwise it will affect your actions negatively. This is something that many traders fail to do and the main reason which leads to losses. You have to be as rational and careful as you can when trading.

Overconfident in New Traders Jul 22, 2021 at 11:27

Overconfidence is one of the worst mindframes to take when trading. If you feel overly confdent you are bound to neglect the importance of considering risks and you will not be careful enough. The result will be that you either miss important indications and trends, act too quickly or rashly, and ultimately end up suffering losses.

Books or Videos - Which one is better for learning? in New Traders Jul 20, 2021 at 11:20

In my opinion videos are quite good as the visual element may be more instructive to some people instead of simply reading. However it is important to find good quality videos that are well explained. I would supplement with reading articles and news regularly, as well as check forums as traders share a lot of personal experiences taht are very helpful.

What is your trading strategy ? in New Traders Jul 20, 2021 at 11:19

I am still new to it all. I am not going to say that I have finalised my trading strategy as I am honestly still learning and sort of experimneting as I go along. I am trying to use scalping mainly.

Choosing forex strategy are really very important. in General Jul 19, 2021 at 05:04

The ones you mentioned are important and a trader needs to get a good idea of scalping and support and resistance trading in my opinion. The general traing analysis you carry out will also help you to keep an eye on other important indicators and signs. All in all you need to be open to knowledge which can then lead you to make good decisions within the strategy you established.

Does bitcoin still holds stronger than stocks? in Crypto Jul 19, 2021 at 05:02

Bitcoin is strong and it does attract many many traders, even more so over the past years. I think that yes the market has several advantages which are making it considerably stronger than the stock market.

profits in forex trading in General Jul 16, 2021 at 12:07

At first it may seem hard and you may not be sure what is going on and if you are in the right. However over time you will be able to gain experience and learn. The more you trade and the more you read and research, the better you will get. Patience, as others said is important. And so is a willingness to learn and keep working to better understand the market, trends, and also evaluate risks wisely.

What do you wish to achieve through forex? in New Traders Jul 14, 2021 at 11:51

My main goal is to make profits - just like any other trader - however I have also come to understand the need to refrain from thinking only about profit making, but rather devote more time to proper analysis and building knowledge. I am still quite a novice in all this and am welcoming opinions and suggesstions from other traders from forums and articles on forex as they help me gain more knowledge and insight. I am also placing importance on the demo account to help me understand how to go about things better.But back to your question - my dream would be to buy a really lovely house somewher...

trading strategy nowadays. in General Jul 14, 2021 at 11:48

Interesting piece of news - and it brings us to an important consideration - the need to chck news so as to understand what is going on in the market before making trading decisions.

Most people fail because in General Jul 14, 2021 at 11:47

Yes I agree that most people tend to fail in trading because they only think about the goal of making profits, and disregard the need for proper analysis prior to making a trading decision. Trends need to be discerned, and a trading strategy should be in place to help you make proper choices at the best possible time.

profits in forex trading in General Jul 12, 2021 at 12:13

I am still a beginner, but till now I have managed to get a good grasp at least that is how I feel. Profits are not the only goal, I believe you need time and experience first and in time profits can be made too. I prefer to take things rather slowly so as to learn a bit first and then hopefully trades will be better and more successful.

What is your trading strategy ? in New Traders Jul 12, 2021 at 12:11

I suggest having a strategy that is not too rigid and that reflects your goals and your personality as a trader especially with regards to how much risks you are willing to take.

Forex is not like gambling in General Jul 09, 2021 at 05:16

Forex trading is not gambling, despite the common misconception some people have. Yes there is money involved, and tehre are losses from time to time. But traders know the importance of taking things seriously, try to understand the market and see what is happening in terms of trends, evaluate risks, and have a plan. It also relies a great deal on building your knowledge and while a little luck might be there, in truth it is all about a trader's experience, great care, knowhow and patience too.

How much should you invest in trading in General Jul 08, 2021 at 11:42

I do not think there is a good or wrong answer to your question. In the beginning it is better to start small, and take little steps so as to learn while minimising your risks. I also suggest starting off with a demo account at first. It helped me a lot as I understood some tricks of the trade. At the end of the day it also depends on how much losses you feel okay with bearing, and how much risks you are willing to take. In my case I like to be quite careful.

Is forex trading really worth it? in General Jul 08, 2021 at 04:54

I am a beginner in forex trading just like you. At first I think it is completely normal to feel a little at a loss, or not sure how to go about it. I am trying my best to read and understand as much as I can so as to be in a better position to start off as best as I can. I am aware that there are going to be downfalls, but I want to believe that over time I will also manage to do well. Success is surely not something that can be achieved quickly and overnight. So do not feel discouraged just yet. Stay there, try to learn and my suggestion is to start off with small steps. In time you will man...

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AUDUSD	0.6524	USDCHF	0.91269
EURJPY	166.93	EURCHF	0.97873
EURGBP	0.85662	GBPJPY	194.86
EURUSD	1.0724	GBPUSD	1.25171
USDJPY	155.684	USDCAD	1.36765

EURUSD	1.0724	GBPUSD	1.25171
USDJPY	155.684	USDCAD	1.36765

Posts by mab8