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sebking1986
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sebking1986
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Classic books about forex
in
General
Nov 03, 2021 at 10:18
Don't discount forex psychology books. Trading in the Zone by Mark Douglas is the most famous but The Mental Game of Trading by Jared Tendler is also very useful and insightful.
Becoming a Forex Expert requires
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General
Nov 03, 2021 at 10:16
Patience, discipline and thick skin. Also a decent work ethic. Too many think that there are shortcuts and easy ways to make money and there isn't in forex. While at it's core it can be very simple, learning and practice takes time and effort.
Which Broker is Best for High leverage ?
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General
Nov 03, 2021 at 10:14
If you are looking for brokers that offer more leverage than you are allowed on regulated options then you will have to go offshore at the very least and then depending on your countries laws may even then need to look at unregulated brokers. There are some real gems but also some dreadful ones so do your research. I honestly don't think more than 1:500 is ever needed.
The demo account is the master
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General
Nov 01, 2021 at 12:38
I will still take trades on a demo account after taking a live trade the same day. If I don't "need" to trade live then I will do so on demo if only to build confirmation in my strategy. The demo trades will still get added to my journal as well.
Demo can not make you well experienced
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General
Nov 01, 2021 at 12:36
While it won't 100% prepare you, at the end of the day the numbers are the same on a a screen and trading with a demo account that is likely to widely differ from your live trading account size won't help. Get used to the lot sizes you will be using live. Get used to seeing the numbers on screen both for and against you. If you aren't winning on demo then why are you going live? These are all things that need to be thought about. I think the issue is a lot of people struggle being honest with themselves about their skill level when they go live.
Basic mistake we make
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General
Nov 01, 2021 at 12:33
If it was as simple as showing up on day 1 and printing money we'd all be doing it. But we're not. I will always compare it to high paying skilled jobs. You have to be good at those skills and jobs before your salary matches.
Best Crypto to Invest in these Times.
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Crypto
Oct 28, 2021 at 10:20
Obviously just my opinion but I still like BTC long term but also like to spread my portfolio into some DeFi projects and other cryptos with proof of stake consensus. So ETH moving over to ETH2.0 excites me along with DOT, SOL, ALGO, and ADA.
Position explained?
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New Traders
Oct 28, 2021 at 10:16
You made more mistakes here than just placing a buy instead of sell my friend. You got away with it here.
METHOD OR DISCIPLINE?
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General
Oct 28, 2021 at 10:13
Both important but a little chicken and egg. I would say you need a good method or strategy and then the discipline to stick to it. You could have discipline in sticking to a failing strategy and be very good and losing your money. Equally you need discipline to keep going in the face of adversity to find your strategy.
Anyone Using Bitcoin Brokers?
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New Traders
Oct 26, 2021 at 10:58
Agree with your point about the wrong end of the stick. I actually don't trade BTC but have some and have used it to fund an account I have with Hugosway which I then convert to £ and trade forex with. Again, a broker that's been doing it for a while now. Not here to argue for or against regulation as I use broker with and without but there are some reliable unregulated ones out there that allow people to do this which get them around strict rules by regulators like the FCA and CFTC. The quick withdrawals are argulably better than the deposits if I'm honest and as good a reas...
Purpose of demo trading
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General
Oct 26, 2021 at 10:52
For developing your skill and understanding of the way the market moves. This helps for strategy development and testing.
Signals are profitable?
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General
Oct 26, 2021 at 10:49
If I can package a way of helping others learn then I'd do that every day of the week over signals. I don't think signals help up and coming traders long term and they leave you open to be sniped at when things don't go right as well. If you're making money show people HOW.
What are good stats in Forex
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General
Oct 25, 2021 at 12:40
Long term profitabilty is ultimately what dictates "good" stats in trading.
The beauty of forex trading
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General
Oct 25, 2021 at 12:39
The beauty is the simplicity in amongst the complexity.
Whats your opinion on the most important aspects of a trading system
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Experienced Traders
Oct 22, 2021 at 10:32
To be unimaginative with the answer as many have already said - risk management. You can have the best strategy in the world regarding analysis but get this wrong and it will ruin you.
How to answer what do you do for a living?
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Experienced Traders
Oct 22, 2021 at 10:29
I just say freelancer to avoid the inevitable boring questions and dismissiveness.
Trend following strat doesn't work no more?
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Experienced Traders
Oct 22, 2021 at 10:27
Did you back test the strategy or just forward test it and in either case for how long?
GOLDEN Rules of Profitable Trader's
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Experienced Traders
Oct 21, 2021 at 10:24
Number 6 is undervalued. ALWAYS let the trade come to you. Never go chasing it.
Fear of losing
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General
Oct 21, 2021 at 10:20
I think this fear can be removed or at least managed by employing the right strategies. Evidence and seeing something in the grand scheme can help see that losses are a part of trading and don't have to be an account buster. Extensive backtesting of a strategy before attempting it live will show you that statistically despite losses, your system works or not. Then when going live with this strategy, you can use a micro account where the total amount lost in a dreadful worst case scenario is negligible to you. Finally as part of any plan, a sound risk management strategy should be in place....
Anyone know Zero or fixed spread broker?
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Experienced Traders
Oct 20, 2021 at 12:11
I mentioned on another thread that some will offer raw spread which while not fixed is often very low. The key factor is looking at the balance of spreads and commissions. Normally a fixed or variable low spread broker will charge more in commission and vice versa. They have to make money from these methods so one will normally offset the other. Try and find a balance of the two.
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