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How to trade effectively in forex?

Nov 09, 2020 at 09:47
2,398 Zobrazení
63 Replies
Seb King (sebking1986)
Členom od Apr 09, 2019   538 príspevkov
Jan 04, 2022 at 12:45
Perhaps look into other income streams online to help with your goals. Stop trying to avoid taking losses, they will always happen. Your risk management plan however is paramount to survive long term.
If you can't spot the liquidity then you are the liquidity.
Členom od Jun 21, 2021   33 príspevkov
Jan 05, 2022 at 06:30
SofieAndreasen posted:
Forex trading is one of the most exciting opportunities you could ever experience. The risk/reward ratio is high and the potential for making loads of money is quite possible.
Agreed, provided you work for it in terms of strategy building, risk management and emotional management.
Členom od Jul 23, 2020   869 príspevkov
Jan 06, 2022 at 04:23
There isn’t a shortcut in forex trading, it takes a lot of time and effort to develop winning strategies in the long term.
Členom od Mar 23, 2020   63 príspevkov
Jan 06, 2022 at 08:38
Well I believe that, sufficient knowledge and accurate trading skills can definitely lead to trade effectively.
Členom od Mar 17, 2021   536 príspevkov
Jan 06, 2022 at 17:33
TradeHut posted:
To trade effectively in Forex, one needs to maintain consistent practice and learning.
I completely agree with you.
Fearlesswalker (Fearlesswalker)
Členom od Jul 26, 2019   31 príspevkov
Jan 12, 2022 at 09:18
Effective trading implies the fact that you earn money due to traing, that's why it's called effective. I believe that the only option for you is to learn and practice. These twon things are the most important for a trader and there are no other options actually. Effective trading can be reached only due to the experience and knowledge. To my mind, you can reach these things only due to practicing. Some traders can practice without any kind of learning theory, however it depends on the trader. If you're skilled enough in trading and have some theoretical base, then practicing will be enough for you.
Členom od Nov 23, 2021   34 príspevkov
Jan 14, 2022 at 07:10
There is no such strategy which you can use to avoid losses. Imagine if there would be one such strategy, why so many traders would have been failing so many times. Don’t waste your time on searching for a holy grail strategy. Focus on the ways you can use to minimise losses.This is the only effective way to trade.

Členom od Apr 28, 2020   18 príspevkov
Jan 21, 2022 at 18:22
There are no particular rules in trading effectively. The main idea of trading is to have an ability to analyze and foresee the future price movement. Actually, everything on the market is concluded in this ability. In my opinion, effective trading means making profits, so if you want to start making profits then you should learn and practice a lot. You can consider trading as your primary occupation, because if we count the time which you should devote to trading, then it comes to classic working schedule. Of course, here nobody makes you follow this schedult, but discipline matters here as well.
Členom od Aug 24, 2020   11 príspevkov
Feb 03, 2022 at 14:20
I think that there’s the only one way to trade effectively. It’s to trade everyday. To put that another way, you need to have enough practice. The more you trade the more effectively you do this. That’s a universal principle and it applies to anything. I don’t see any reasons why trading should be an exception.
Členom od Mar 28, 2021   617 príspevkov
Jan 08 at 13:26
Majority of us are affected by poverty. Forex trading can be a solution to your poor financial condition. In this situation, Forex trading can be a great opportunity for career building.If you are investing in Forex for the first time, you should start with small investment.
Členom od Jan 27, 2023   19 príspevkov
Feb 15 at 16:08
Know the Markets. ...
Make a Plan and Stick to It. ...
Practice. ...
Forecast the “Weather Conditions” of the Market. ...
Know Your Limits. ...
Know Where to Stop Along the Way
Členom od Oct 28, 2022   50 príspevkov
Mar 18 at 11:36
davesper posted:
I think that the best option is to have enough qualifications. It seems to me that this is what can allow a trader to get the desired result.
In my opinion, qualifications are not that important, but skills are more important.
Členom od Mar 21, 2023   1 príspevkov
Mar 21 at 10:23 (upravené Mar 21 at 10:23)
I completely agree with you that learning and practicing are crucial to effective trading. It takes time, patience, and dedication to become a successful trader. In addition to practicing, I would also recommend reading up on different trading strategies and analyzing market trends. There are also plenty of online courses and resources available to help improve your skills.
Another thing to consider is https://www.forexrating.org/forex-prop , which can provide you with the necessary capital to trade with. This can be especially helpful if you're just starting out and don't have a lot of money to invest.
Členom od Sep 02, 2022   15 príspevkov
Mar 21 at 12:14
The best way to trade forex effectively is to first learn everything there is to know about it. After you have a thorough understanding of how forex works, you may create a strategy and open a demo account at the same time, which will result in good learning.
Členom od Mar 02, 2023   11 príspevkov
Mar 21 at 12:45
In order to trade effectively in forex, a good trading strategy and a good method for analysing the market are required.
Členom od Jan 23, 2023   18 príspevkov
Mar 21 at 13:00
Erse_Smith posted:
In order to trade effectively in forex, a good trading strategy and a good method for analysing the market are required.
Thanks for the tip buddy!
Členom od Nov 05, 2021   1 príspevkov
Mar 22 at 05:48
price action with smc can be the good option for you
Členom od Sep 19, 2021   4 príspevkov
Mar 22 at 16:54
No there is no one strategy. That is impossible to create.

However some tools are handy :
Fib levels
20, 50, 200 ema
Some Divergence indicator (not so important)

Some rules could be :
Above 200 ema - Buys
Below 200 ema - Sells

Only trade the 1 hour mark ( usually most volatile around the last 10min and first)

Frida central (Fridacentral)
Členom od Nov 20, 2022   8 príspevkov
Mar 23 at 09:15
Bladiminmunro posted:
I am not planning to become a hard core trader. I just want to quit my 9-6 job and make enough money to run my expenses.

Are there any strategies that should be a staple to avoid losses to some extent as I know the forex market is too volatile?
In at moment you can join frida central and copy their trades for free
Consistency is key of all time
Členom od Aug 19, 2022   65 príspevkov
Mar 23 at 12:38
First of all you need to practice at least an hour for a day. Then you can read some articles about trading or YouTube videos. And of course try to find methods that suits you.
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