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Which pairs are your least favorite to trade? And why?
v
Noví obchodníci
Feb 18, 2022 at 05:30
I agree, Even I don’t prefer exotic currency pairs. I prefer trading EUR/USD and GBP/JPY major currency pairs.
Most people become unrealistic
v
Obecné
Feb 18, 2022 at 05:20
Any type of unrealistic approach in trading might lead to unexpected losses. Unfortunately many new and young traders have these unrealistic goals which are supported by misconceptions about trading being the easiest way of earning money.
Broker
v
Obecné
Feb 16, 2022 at 11:41
I use Finprotrading, a good broker so far.
Luck is important
v
Obecné
Feb 14, 2022 at 08:16
I believe that luck depends on the amount of hard work a person does. A trader can never be lucky enough to make consistent winning trades. Only the traders who work hard with consistency, patience and discipline will keep luck on their side.
Is trading hard?
v
Obecné
Feb 14, 2022 at 08:06
Forex trading is indeed hard but that does not mean that it is impossible to trade successfully. A trader must gain the required trading skills and enough knowledge and learning which will definitely help to make trading easy.
Very tough business.
v
Obecné
Feb 11, 2022 at 06:37
Indeed, forex trading is tough. But as the trader keeps on trading and gaining knowledge, he becomes aware of the effective trading strategy for him.The trader over time acquires the required trading skills and masters them, forex trading becomes simpler for him. A trader needs to be consistent and disciplined in order to achieve this level.
Be productive
v
Obecné
Feb 08, 2022 at 08:17
You can trade all day long and still won’t be productive because productivity is not about how hard you are working. The best way to boost productivity is by planning. Having a clear understanding of what’s in front of you and what you are looking for directs you towards the right action that you can take to win your trades. Follow your plan for the day and take regular breaks in between because it helps to stay focussed during the session.
The fear of losing opportunity
v
Obecné
Feb 08, 2022 at 08:12
Fear of missing out or losing an important opportunity is a common issue that affects almost every trader. FOMO stems from overly high expectations. It is a feeling that is most likely triggered when you see a more successful trader or when there's big news or during the period when the market is extremely volatile. All these can heighten the feeling of being left out but if you accept that there will always be another big opportunity, you can overcome this feeling to a great extent.
Anyone Trading For A Living?
v
Skúsení obchodníci
Jan 24, 2022 at 04:48
Forex is a high reward market which makes everyone believe that they can earn a living easily by trading currencies. However the reality is different. Most traders actually lose money instead of making money. Therefore I don’t rely on forex for my daily expenses but maybe when I start earning consistently, I can think of trading for a living.
Those who can't learn will be eliminated by the market
v
Skúsení obchodníci
Jan 20, 2022 at 06:04
The people or things that don’t evolve usually wear out with time. Traders who lack the will to learn new things or new methods can never make money because the market is never constant. It keeps changing and it demands the same from a trader. Therefore, It is vital that traders keep learning and improving their skills if they want to survive the market.
Steps to Mental Success in Trading
v
Noví obchodníci
Jan 20, 2022 at 03:56
Going slow but steady is the kind of effort everyone should put in for mental success in trading. Personally, whenever I set small goals and work for them, I automatically stay motivated. However, trying to take everything at once can be really overwhelming.
Anyone suggest me best broker for forex trading?
v
Skúsení obchodníci
Jan 18, 2022 at 09:56
You can try Finprotrading. They have good trading conditions and withdrawals are also fast.
What is your trading schedule?
v
Noví obchodníci
Jan 17, 2022 at 06:58
Being a part-time trader, I only trade when the market overlaps. However, I regularly dedicate an hour or so to read the market or to learn something new about forex.
Are you afraid to lose your trade?
v
Obecné
Dec 31, 2021 at 05:24
No one likes to lose and it’s natural for everyone to be afraid to lose money. Since losing is almost inevitable, it is better for traders to learn to take it positively. However, I understand that if you are losing a big amount of money then it’s not possible to stay positive. Personally, I don’t chase big profits so I also don’t take bigger risks. When I fail, I try to understand the reason and think of a way to avoid it in future.
Beginners Greed
v
Obecné
Dec 30, 2021 at 06:26
It’s not the fault of new traders to feel greedy at the beginning of their career. Most of us get to know about forex trading through a highly unrealistic ad showing the success story of a really profitable trader. While they show all the good things to attract new traders, they hide the hard work, years of failure and unwavering will power that is required to make it to that level. New traders think that if someone else can do this, it must be easy and they can do it too. It’s only the personal experience that uncovers the reality.
Trading Psychology
v
Noví obchodníci
Dec 30, 2021 at 06:00
Psychology is one of the most important aspects of trading. It is the real force that drives all the trading decisions. A trader might be very good at analysis, he may see a very good opportunity in front of his eyes but can still feel powerless to do anything if his mindset is not in the right place.
Luck or Hard Work?
v
Noví obchodníci
Dec 29, 2021 at 06:19
Sometimes you earn a profit and it’s not because of your analysis, charts, trends or any skill but only by chance. In that moment you may feel, ‘Wow! I got lucky’ but the difference is that it’s a ‘moment’ not your entire career. You can’t be lucky everyday but you can manage your losses well and increase your chances of winning if you work hard.
Without skills trading
v
Obecné
Dec 28, 2021 at 06:28
The traders who have their eyes only on quick and big profits rarely focus on the fact that trading is not only about buying and selling at the right times. It calls for unique skills, discipline, knowledge and a strong mindset. Therefore, if you are ready to put in the effort that is required to become a skilled trader, the market will reward you.
Believes.
v
Obecné
Dec 27, 2021 at 05:54
The primary purpose of stop loss is to cut the losses from getting bigger but there’s also another benefit of using it. Stop loss helps traders to exit the trade at the right time without letting their decisions be controlled by their emotions. If you’ve placed the stop loss very strategically then you shouldn’t not adjust it. Let the price move in whatever direction. There’s no use of putting a stop loss if you are going to change it every time according to your feelings.
Basic mistake we make
v
Obecné
Dec 24, 2021 at 04:53
Overusing leverage is probably the most common mistake new traders make. If you don’t have a winning strategy (which most of us don’t have in the beginning) then you’ll only end up amplifying your losses. As leverage increases the individual risk on a single trade, the psychological pressure also increases which amateur traders are not able to face and end up acting irrationally when they deal with outsized positions.
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