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To be a successful trader
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Apr 27, 2021 at 13:06
@Beagelv Yes knowledge becomes effective only when we can apply it properly. Execution is the key. Many people can not execute their knowledge due to lack of discipline and plans.
how to become a forex market conqueror
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Apr 24, 2021 at 11:29
To win forex market, one needs skills, knowledge and experience. Risk comes from not knowing what you are doing. Every trade you open you should have valid reasons. Out of assumptions you can win in forex market.
Money management is an integral
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Apr 24, 2021 at 11:01
Problem is most traders do not want to manage their risk. They suffer from overconfidence. As a result they lose money again and again and very few learn the lesson.
How much should you invest in trading
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Apr 24, 2021 at 10:59
Always invest small amount unless you start making money on consistent basis. Once you are making regular profit, you can invest big money.
Purpose of demo trading
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Apr 19, 2021 at 13:45
Demo is to test our strategy before trying the strategy on live account. For newbie demo is to know trade mechanism works and also for testing strategy.
Most traders are impatient
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Apr 19, 2021 at 13:37
Due to impatient people open trade before their strategy gives signal. Suppose I am trading on H1 charts. To open a trade I have to wait to form the candle. Many traders can not have the patience to let the candle form.
In trading consistency is important
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Apr 16, 2021 at 13:20
It is the consistency that brings success. Almost all the traders can make random profitable trades. But the real challenge is being consistent. It requires study and research.
Is trading for living possible?
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Apr 16, 2021 at 13:17
Trading for living is possible but not that easy. Successful trading requires a lot of skills and experience. To achieve those skills and experience it takes time. But most people are not willing to give that time.
Losses are a part of trading
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Apr 13, 2021 at 13:05
Yes loss is the integral part of trading. We need to develop skills so that we can have more winning trades than losing trades. Otherwise it is not possible to survive in the market.
Forex is a decent business
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Apr 13, 2021 at 13:02
@ddarko3 To treat it a one of the main sources of income, one needs extensive skills and experience. And it takes years to come. But we should always treat it like business.
Spreads
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Apr 12, 2021 at 13:28
For short term traders and scalpers spreads is very important. As a day trader, I like floating spreads. That's why I always prefer zero spreads account with commission.
There is no easy way of learning
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Apr 12, 2021 at 13:25
@Meloisel You are right. But unfortunately many people think forex trading does not require deep understanding and it can be learned very quickly. Easy access to the online trading is one of the reasons of it.
Both fundamental and technical
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Apr 06, 2021 at 13:57
Yes, both fundamental and technical analysis is important. But only with technical analysis you can also make money. For that you need to be careful about big news events.
Fear makes you
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Apr 06, 2021 at 13:55
Fear does not let us think logically. That's why traders close trade and then it went in their favour. Fear comes when we not know what we are doing and why doing.
When loss occurs
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Apr 06, 2021 at 13:36
A trader should have good plan and strategy to minimize risk. Loss will happen. But after loss, one needs to find out why the loss happened? Then wait for a good set up to entry.
Forex trading
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Apr 06, 2021 at 13:02
There lot of resources on internet. Babypips website has good education section. You can also watch video on Youtube. But remember skills are important to make money by trading .
Fundamental analysis will always
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Apr 04, 2021 at 12:55
Yes fundamental is important but it requires a lot of study to learn. It is not just about news trading. It tells us the future direction of a currency.
No system works all the time
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Apr 04, 2021 at 12:52
Without having experience it is really not at all safe to invest a huge capital in forex . if you do so then there are maximum chances you will be loosing your money for sure . If you want to do so then you can take advice of any expert trader and you should trade with his guidance .
Indicators are reliable but
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Apr 04, 2021 at 12:13
Indicators are helpful if we can use it properly. People are so impatient that before the indicators showing signal they open trade. It is not a good thing to do while using indicators.
In trading consistency is important
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Apr 04, 2021 at 12:06
Consistency is the key to increasing income. However, is not easy in forex trading. Trader need a good profitable trading strategy to do that. Moreover, market is changing every day. So, adjust trading plan according to that.
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