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Is trading for living possible?
v
Obecné
May 09, 2021 at 10:44
@Akasuki yes you are right. Trading for living is possible but not by everyone. For this one needs great skills and experience. Fantastic analysis skills and trading psychology is needed to earn money in foreign exchange market.
Staying peofitable consistently
v
Obecné
May 08, 2021 at 13:55
To make money by forex trading, you needs good knowledge, expertise and a mind that may control feelings. You have to learn it first. Go to education section of this website and begin reading it.
There are three things
v
Obecné
May 08, 2021 at 13:54
For effective trading consistency is crucial. Some random winning transactions don't assist in success. Achieving consistency is critical in trading. For that one needs enough knowledge, skills and experience.
How much should you invest in trading
v
Obecné
May 08, 2021 at 13:37
In currency trading, with a small deposit you may begin trading. Leverage gives the trader the capability to exchange with little balance. Once you start to make regular profit, you can deposit big amount.
To shine in forex
v
Obecné
May 08, 2021 at 13:36
@Akasuki Without trading knowledge, making money is not possible. One requires very deep comprehension of the market. Most novices make the error of not focusing on understanding. They concentrate on earning without understanding. And lose the amount on constant basis.
modern economy crumble. what will happen next?
v
Obecné
May 05, 2021 at 14:59
No matter what happens to the global economy, currency will be there. So forex market will exist. If something like happen like european union, there will be less pair.
All the successful traders
v
Obecné
May 05, 2021 at 14:55
@Bela_fx Yes those two are important. But one also needs discipline. A discipline trader can sit out in the bench if his strategy does not show any trade. Others can not do it.
Free sources of professional Forex education
v
Obecné
May 05, 2021 at 14:39
On internet you will get a lot of free resources to learn. Myfxbook, babypips are most trusted. Also if you search on google you will pdf of many good books.
Losses are a part of trading
v
Obecné
May 05, 2021 at 14:36
@Akasuki Yes you are right. Every trader should know how to minimize loss. As Warren Buffett said, Risk comes from not knowing what you are doing. Skills and experience is mandatory in forex trading.
Do you have a favorite volatile currency pair? Any AUS/USD users?
v
Obecné
May 03, 2021 at 14:51
The best option to follow London and New York session. Most of the days market remains active during this session. Again it is also important about comfort.
How long it takes to be profitable
v
Obecné
May 03, 2021 at 14:48
@Beagelv It depends on a person's approch towards learning. I have seen people trading for 10 years still not making consistent profit. It is because they are more focused on earning than learning.
Losses are a part of trading
v
Obecné
May 03, 2021 at 14:28
In trading loss will be there. A good trader knows how to recover the loss. They are very calculative and discipline in their trading. But most traders can not tolerate loss. As a result they open revenge trades.
Purpose of demo trading
v
Obecné
May 03, 2021 at 14:04
@Akasuki Yes You are absolutely right. Unfortunately most people use demo without any plan and strategy. Out of merely assumption they open trade. They do not have any clue why they are opening a trade.
Believes.
v
Obecné
May 01, 2021 at 13:16
@opportunitycalls Yes you are right. Plan with discipline is very important in forex trading. After making a plan, sticking to the plan is important. Most people can not do it.
The Most Traded Currency Pairs in Forex
v
Obecné
May 01, 2021 at 13:04
Yes EURUSD is the most traded currency in the world. Due to the demand of USD and EURO it happens. Though I personally prefer GBPUSD for my trading. It is my favourite pair.
In trading consistency is important
v
Obecné
May 01, 2021 at 12:50
Yes consistency in trading is very important. Everyone can make some profitable trades here and there. But the real challenge is making profitable trades in consistent basis. For this one needs good skills and experience.
Leverage is among the things
v
Obecné
May 01, 2021 at 12:47
For retail traders like us, leverage is very important. It gives us capability to trade. Without leverage we would need a lot of money to make a decent profit.
Signals are profitable?
v
Obecné
Apr 27, 2021 at 13:34
Signals is not profitable. Because signal providers give a lot of signals everyone. And it is not possible for anyone to follow all the signals. Suppose you opened 3 trades and all 3 hit stop loss but some other signals were profitable. In average they are giving green pips but you are losing.
Forex game is not business
v
Obecné
Apr 27, 2021 at 13:29
When you do not have much knowledge and do not know how to control your mind, you end up gambling. Then gradually it becomes a habit.
When loss occurs
v
Obecné
Apr 27, 2021 at 13:10
Most people get restless if they lose any trade. Out of this restlessness they take revenge trade. They want to recover it quickly. Most of the time revenge trades bring more loss. We need to remain calm and wait for opportunity.
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