Trenchant’ın Gönderileri| Myfxbook

Greed is poison Yeni Traderlar içinde Dec 09, 2022 at 09:43

Greed in forex trading can make you go broke because you will be overspending your capital or trade at the wrong time to make more profits. It is important to develop your mindset and have a trader’s psychology in order to not lose just because of the mere reason of overwhelming emotions.

The fear of losing opportunity Genel içinde Jul 21, 2022 at 05:22

The fear of missing out on opportunities is very painful, just how you feel FOMO by your friends. Haha, anyways, back to the point- If you want to keep an eye on the market always, even when you are away or asleep, you can use bots for that specific period of time. Customise your bots to the number of trades it can make, and set a really close stop loss to avoid big losses. But I'd suggest you relax a bit, we are humans, we cannot be present on the market all 24 hours when its open.

Ready made strategy doesn't Genel içinde Jul 07, 2022 at 05:00

Right, ready-made strategies do not work. It might be helpful to provide an outer shell by the help of which you can frame your own strategy or plan. If you are a beginner trader, please do not rely on other trader’s strategies. Like this you won’t learn, and won’t last long in the market. Learn, fall, and learn again, only then you will become perfect.

Can you borrow money from the bank to trade forex? Genel içinde Jun 17, 2022 at 09:24

Never! You should not borrow money in order to gamble in a market you know nothing about. Never invest what you cannot afford to lose, and certainly don't borrow money. Forex is one of the most volatile & risky markets to invest in. Think if you have invested all your borrowed money & then a war comes and you lose all your funds. This happened to a lot of traders recently. Trading involves higher risk than any other business; you would not be able to do anything from the credit, if you are not able to do it from your own funds.

What makes one a Professional Trader? Genel içinde Jun 17, 2022 at 09:24

A successful professional trader has a trading system in place. This system is built on careful observation of personal approach, money $ risk management, and price movement of the instrument he is trading. A professional trader knows when he will enter the trade and there is bound to be time when he won’t be in the trade. Unless the trade is triggered as per his system, he won’t trade. For them, trading is serious business and losses are just a part of it. They don’t take any loss personally and remain calm. They are consistent and patient.

Most people become unrealistic Genel içinde Jun 16, 2022 at 10:49

I don’t find it surprising. Anyone can get allured by the mesmerising advertisements that make you believe that you can easily make money in the forex market. But only an intelligent person would be able to use his brain and realise that there is no easy way of making money. Others just fail ultimately.

Is trading hard? Genel içinde Jun 16, 2022 at 10:48

Yes, that’s true. Trading forex is hard and the fact that you may or may not win makes it more difficult for traders to keep faith in the market. The moving nature of the market makes it extremely tough for new and old traders to trade in the direction of the market. And because you cannot always be accurate with your predictions, it’s truly a tough business to do.

Mind or Machine? What’s Better For Forex Trading? Genel içinde Jun 16, 2022 at 10:48

A proper blend of the usage of mind and machine can generate huge profits. However, fully relying on machines is not a smart idea as the forex market is unpredictable and highly volatile.

Patience is best tool to get success Yeni Traderlar içinde Jun 15, 2022 at 12:07

Patience is necessary for situations to be evaluated in the right way and at the time of being executed do your best. In the case of forex there is no exception, in fact we find that it is a primary feature that every trader must possess. Developing your forex trading plan will take time. Developing skills will take time. Waiting for the right business opportunities requires a lot of patience so you don’t make mistakes or rush to erroneous operations. Entering and exiting a trade at the right moment requires patience.

How long does it take one to be consistently profitable with forex trading Yeni Traderlar içinde Jun 14, 2022 at 11:44

Varies from person to person! So many become profitable in just one year while others struggle to make some good returns even after trading for 10 years. It is all about your strategies, trading markets, and the currency pairs. That’s why I believe that you must be very choosy when making choices.F irst, it depends on how experienced you are in forex trading. Also, if your emotions have a control over you more than your logical thinking, then you can’t get profits. If you apply effective measures and strategies for trading and also take care of your risk factors and profit motives,...

Which pairs are your least favorite to trade? And why? Yeni Traderlar içinde Jun 14, 2022 at 11:43

I think currency pair selection is an important part of your overall trading approach. But I understand a lot of Forex traders are confused about which currency pairs to trade. I typically do not trade in exotic pairs as they are highly volatile and are illiquid. The spreads are extremely wide and have a lack of market depth. They are riskier as compared to major pairs which are rather stable. Exotic pairs feature low trading volumes which lead to lack of liquidity which is why I do not like trading in exotic pairs which is my personal viewpoint.

scalping easy ? Yeni Traderlar içinde Jun 03, 2022 at 12:45

A trading strategy can work well for you only if you know how to use it. If you keep waiting for it to do some magic for you, you may not be able to do very well at it.

Is forex is best source of income? Yeni Traderlar içinde Jun 03, 2022 at 12:45

No matter which profession in the world you choose for yourself, you will have to work for it. The harder you work, the better you earn. The same is the case with forex trading also. There is nothing like the best source of income in general; you find it for yourself.

Most people fail because Genel içinde Jun 03, 2022 at 10:37

All that glitters is not gold might be the right fit for forex trading. People get introduced to forex trading in a way that makes them think about forex as an easy road to riches. They often forget about the years of hard work, learning, skilling, practising, etc.

90% are loser ..why ? Yeni Traderlar içinde Jun 02, 2022 at 09:35

This is actually a fact in the world of forex. People think forex to be a rich source of plenty. But they often forget what it takes to trade, and they lose.

The dark side of forex markets Yeni Traderlar içinde May 30, 2022 at 09:52

I think everyone and everything in this world has a dark side. But there is also a bright side to everything. The dark side of forex trading is the market risk and potential losses. But the bright side is the endless opportunities that it offers to people to earn profits. How we deal with the risk will determine our profitability in the end. Those who have knowledge and skills will always get to the brighter side of the forex market and achieve success in the long run.

Diffrence between real & demo trading Yeni Traderlar içinde May 30, 2022 at 09:51

A demo trading account is just a platform to practise and experience trading in a simulative environment. There is no money involved and that makes a major difference. You don’t need to worry about losses in a demo account and your profits will never materialise. Trading on a real account comes with a lot of responsibility and power. You can make profits with a good strategy but can also encounter financial losses. You need to cope up with the risk by setting stop losses and risk/reward ratio. Practise well on a demo account and trade with caution in your real account.

EURUSD	1.13225	GBPUSD	1.32932	AUDUSD	0.64475
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