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Everyone is unique
Genel
içinde
Dec 07, 2020 at 11:55
Yes it's because everyone thinks differently. What strategy and time frames work for me may not work for others and vice versa. Every trader needs to find his own trading edge to be profitable.
New traders love scalping
Genel
içinde
Dec 07, 2020 at 11:15
Yes new traders loves scalping. As online market moves 24/5, it is difficult for newbies to prevent the temptation. But for newbies scalping is not ideal. It leads them to over trading habit.
The beauty of forex trading
Genel
içinde
Dec 06, 2020 at 13:32
The beauty of forex trading is you can do it from anywhere. You are your own boss. If you know how to do it, it gives you freedom of time and money. The ugliness is it's the most risky business in the world. You can lose some money even before you understand what trading is. It's not easy as you have heard. You have to be skilled by dedicating yourself to learning and practicing.
Making money is a habit
Genel
içinde
Dec 06, 2020 at 12:07
Forex trading is a work of professional people. To servive here, you have to match them. You need to be skilled enough to make everything right. Increse the skills by studying and practicing. It needs time. You have to be patient. A doctor needs 5 years to complete his MBBS then internship and other associate degree. In forex within 3 months we start to feel I have learned everything. Now I now be rich overnight.
Having a mentor
Genel
içinde
Dec 06, 2020 at 08:09
A mentor can be a good option if you get a good one. Even legendary Warren Buffett had mentor. But his mentor was Benjamin Graham, often known as the father of value investing. A Mentor is good if you get a skilled mentor. Otherwise sefl learning is the best.
Risky business
Genel
içinde
Dec 05, 2020 at 11:21
Money management is the most important thing in forex trading. Good management with an average strategy making profit is possible. But poor money management with best strategy resulting in loss. A good trader is a well money management follower. I personally do not use more than 2% of my capital. My total trades sum up 2% of my capital.
Consistency is the brick
Genel
içinde
Dec 01, 2020 at 07:59
Consistency is the brick of success. It helps gradually to build your account. To be successful for long term we need to be consistent in profit making. Random trading can't help us to be successful.
Winning and losing
Genel
içinde
Dec 01, 2020 at 04:25
Loss is a part of trading. If you have good winning percentage and better risk reward ratio, loss should not bother you. Loss bothers so much to clueless traders who have no idea what's they are doing.
Winning and losing
Genel
içinde
Nov 30, 2020 at 15:09
Winning and losing is part and parcel of a business. Furthermore, in an efficient trading it is more obvious. To figure the P&L of a position, what you require is the position measure and by what number of pips the cost has moved. The veritable advantage or mishap will be tantamount to the position measure extended by the pip progression.
Forex is not like gambling
Genel
içinde
Nov 30, 2020 at 11:37
Yes trading is not gambling. But unfortunately many traders treat it like gambling. They are not willing to develop skills. They trade mostly blindly. As a result they lose money all the time.
Number one biggest mistake
Genel
içinde
Nov 29, 2020 at 14:42
Number one biggest mistake new trade do is they treat forex trading as a money machine. Open trade and make profit. They think it is the easiest job in the world. But in reality you need profound understanding of the market. My advice to new trader is gain necessary knowledge and skills.
what kind of spreads do you look in a broker
Genel
içinde
Nov 28, 2020 at 11:37
I always like zero spreads account. I give commission but prefer zero spreads. Though zero spreads account has commission, it seems profitbale to me than standard account.
Trading is all about your comfort
Genel
içinde
Nov 28, 2020 at 11:26
For trader should not trade on any time frame below H1. In 30m, 15m, and 5m charts there is so much noise. People start to over trade due to small time frame. A trader always should focus on developing good habit.
How long it takes to learn
Genel
içinde
Nov 27, 2020 at 06:17
It depends on one's capabilities. What you are learning, what learning materials you are using is a considering matter. No one can tell you that you need this specific time to learn forex. And moreover learning is a continuous process. Study everything available in School of Pipsology in babypips. It will help you a lot.
Fundamental analysis
Genel
içinde
Nov 27, 2020 at 06:17
Fundamental analysis helps a trader lot. But you have to give enough time to learn it. It's a big syllabus. If you have that much willingness, dedication and time, go and study. You just can't be an expert by reading few things. I personally prefer technical analysis.
There are many advantages
Genel
içinde
Nov 25, 2020 at 11:39
For small traders like us, without leverage we need a lot of capital for trading. To open a .01 lot we need at least 1000$ balance. So it the leverage that helps us. But it also increases the risk. That's why we need to follow risk management system.
It is the psychological aspects
Genel
içinde
Nov 25, 2020 at 11:35
Emotional decision in trading leads us to havoc. Like after a loss people open revenge trade to recover the loss quickly even of it doesn't show any trade set up. We need to calm and cool while trading.
To manage risk reward ratio
Genel
içinde
Nov 23, 2020 at 13:16
To manage risk reward ratio, you also need good knowledge. The ability to find a good trade is important. You have to find out what you are best at. How many entries are right and wrong out of 10. Sometimes 1:1 risk reward can be good if your winning ratio is more than 50%. It's actually a trail and error process. You have to find what's best for you.
Forex market is an unpredictable
Genel
içinde
Nov 23, 2020 at 13:13
Forex market is an unpredictable market. But even after that you can predict some movements if you know the art of technical analysis of forex. Forex trading is not about being 100% correct. It is risk reward ratio. Your winning trade should be more than losing trade if your risk reward ratio is 1:1. People select their risk reward according to their ability to trade.
Forex is not a bad business
Genel
içinde
Nov 22, 2020 at 07:04
Forex is not a bad business. It's the individual who makes it good or bad for him. If you trade without having any knowledge and skills, it will turn a bad business for you. But if you are interested in learning and keep continuing your learning it will turn as a good business for you.
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