pipham's Posts - Page 2

Learning is a nonstop procedure in General Dec 31, 2021 at 05:04

A trader is always ‘a work in progress’. You can never think that,” Okay, I have made a trading plan, created a strategy, found my edge and understand everything about trading so now I am ready to see the cash flowing into my bank account.” No matter how much you know, there will always be more things to learn.

Over trading is a bad habit in General Dec 30, 2021 at 04:39

Among all the bad habits, over-trading can be very costly for a trader. There’s this general assumption that the more you trade, the more chances you have to make profits. Sadly, it is often ignored that winning is never guaranteed and it’s possible that the majority of your trades can go wrong. The best is to not take unnecessary trades if you are not sure about them. Sometimes traders make more profits from a single trade than they collectively make through ten trades.

People come into trading in General Dec 30, 2021 at 04:34

People come into trading with all kinds of false hopes. They think that one day they will make one big trade which can earn them such a huge profit allowing them to comfortably live their life later on without any need to earn money. There is a special role of marketers in reinforcing this unrealistic belief. Traders believe they can directly jump onto the good part without any struggle. However, no one is lucky enough to make it without putting in any effort.

Online source of income in General Dec 28, 2021 at 05:29

Trading can be your source of income as well as your source of loss, it depends on how well you do it. If you are starting off with the mentality to make quick bucks and generate a lifetime income for you, then you are probably wrong. Just having a laptop and internet connection is not enough. One must indulge himself in-depth learning.

Trading in lower timeframes in General Dec 28, 2021 at 05:17

There are generally more opportunities in lower time frames because small fluctuations keep happening in the market continuously. However, it requires undivided attention and quick decision making to seize all those opportunities which is difficult for new traders.

having a losses in General Dec 10, 2021 at 09:00

It’s not possible to eliminate losses but if you have multiple losing trades then there’s definitely something wrong with your trading method. Traders most often get frustrated with their losses and they start over trading in order to make up for their losses, but unfortunately no one can recover from the wrong trades with even a big winning trade.

The beauty of forex trading in General Dec 09, 2021 at 06:00

Beauty and the beast, I’ve heard but Beauty is the beast? It changed the whole perspective.I think no restrictions is the real beauty of forex trading. You can do as much or as little and still there is profit potential which you can make from rising and falling prices of currencies.

Broker ECN (low spread) Cents account. in General Dec 07, 2021 at 11:04

Very rightly said, although for me low trading costs are more important than high leverage, using finprotrading because of low spreads and commissions.

Loss in General Dec 06, 2021 at 05:21

There’s absolutely nothing a trader can do to avoid loss but by working on risk management practices, loss can be minimized. Some tips that always work when it comes to managing risks are:1. Calculating your risk tolerance and not exceeding the limit.2. Using stop loss and limit orders.3. Not risking more than 2% per trade.4. Controlled use of leverage.5. Keeping the risk consistent.

New traders love scalping in General Dec 06, 2021 at 05:11

Scalping is not suitable for new traders. The idea of making a large number of trades for small profits doesn’t let them focus on learning. If you want to get better at analysis it’s good to start as a swing trader because it gives you enough time to speculate and at the same time you can earn a substantial profit from one trade without spending much on the trading costs.

New traders should be content in General Dec 03, 2021 at 05:49

The first and foremost priority of new traders must be to learn and at the same time protect their trading capital, and if little profits come along appreciate that. There’s no such thing as free lunch in the market. You have to pay the cost for learning and it’s in your hand to save as much as you can. Don’t expect profits right away.

Copy trading in General Dec 02, 2021 at 05:52

I can’t trust anyone else to manage my money no matter how skilled or experienced the other trader is. It’s okay to hire a mentor or take someone’s help but you can’t actually learn unless you take things in your hands. I feel that it’s also not possible to work on your emotions when you are simply copying another trader’s strategies on your account. You won’t feel the emotional turmoil one faces while taking any trading decision.

Books or Videos - Which one is better for learning? in New Traders Dec 02, 2021 at 05:35

I prefer reading books over watching videos. My concentration usually dwindles when someone else is speaking continuously and I’ve to listen. I can focus more while reading but I know the majority of people retain information better through videos.

strength of currencies in New Traders Dec 01, 2021 at 05:34

There are mainly three factors which determine the strength of the currencies:1. Inflation: Higher inflation in a country means the national currency is losing its value. 2. Economic stability: If the government is economically stable and well established, it attracts more investors. More demand means more supply which also increases the value of the currency.3. Interest rates: Higher interest rates also indicate high value of the currency.

Basics knowledge is not enough in General Nov 30, 2021 at 04:40

Basics is not enough but it’s necessary to set a strong foundation for learning advanced trading concepts. No one can be profitable by taking a big leap forward and directly jumping onto bigger things. The best way to approach anything is by taking one step at a time.

What should be the risk percentage? in General Nov 30, 2021 at 04:29

To be able to manage the risk properly, maximum loss allowable per trade should be no more than 3%. Some traders also believe that 5% is a good percentage to risk but I don’t think it’s wise to go with this percentage. Traders often forget that risk to reward is to predict the expected returns and mitigating the losses and not for increasing the risk potential.

How long on a demo account in New Traders Nov 29, 2021 at 04:24

The time frame will vary from one trader to another. It will depend on the particular trader how fast they can sharpen their skills on a demo account. It is good to practice various trading strategies and conditions on different platforms using a demo account. Once the trader gathers enough confidence, sets up the right mental frame, and starts making virtual profits frequently, it is time to enter the real market. It may take weeks or months to achieve that level.

Do any forex brokers offer crypto deposit? in Crypto Nov 25, 2021 at 12:21

Finprotrading accepts deposits in most of the popular cryptocurrencies including btc. You can check them out.

Basic mistake we make in General Nov 23, 2021 at 05:03

The most basic mistake for a newcomer is keeping aside the learning process and chasing profits all the time. You will end up nowhere without a proper plan and a strategy to work fine for you. It will be a mistake to enter live trading without the basic knowledge, proper mental preparation, and enough practice on your demo account.

Is demo trading enough before real account? in New Traders Nov 23, 2021 at 04:49

If you are a newbie, nothing is enough alone to learn the art of forex trading. First, you need to gather basic knowledge about trading by enrolling yourself in any reliable online course. Further, you can create a demo account to hone your trading skills. A demo account provides you with the opportunity to back-test your strategies before applying them on live trading. Further, it boosts your confidence when you make profits. You can become a member of various trading forums to learn from other experienced traders. However, you cannot become a trader unless you enter the live trading and invo...

All Quotes
AUDUSD	0.65344	USDCHF	0.91389
EURJPY	168.912	EURCHF	0.97775
EURGBP	0.85615	GBPJPY	197.27
EURUSD	1.06985	GBPUSD	1.24952
USDJPY	157.881	USDCAD	1.36637

EURUSD	1.06985	GBPUSD	1.24952
USDJPY	157.881	USDCAD	1.36637

Posts by pipham