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Most people become unrealistic
Genel
içinde
Feb 25, 2022 at 07:56
Traders who think that they will make money in the forex market immediately have unrealistic goals. Trading is not a gateway to overnight success. The risk associated with trading increases if you lack proper education. If you want to make money in forex, then educate yourself first and learn to control risk.
The dark side of forex markets
Yeni Traderlar
içinde
Feb 25, 2022 at 07:50
Yes, forex is a manipulative market, and it can be ugly because, as retail traders, you have zero control over it. Trading decisions by central banks can move the market. You can’t do anything about it, but you have full control over your trades. Understand your risks first and learn to control them. It is challenging, yet not impossible.
How can we find a reliable platform?
Yeni Traderlar
içinde
Feb 23, 2022 at 12:49
Finding a reliable broker is not difficult since there are numerous options and a lot of data available to know whether a broker is worth trying or not. You only need to research properly. Be patient and explore as many options as you can. I started looking for brokers when I was only learning and by the time I was ready to trade live, I had a very clear choice and opened an account with finprotrading.
How to select the Best Currency Pair for Investment?
Yeni Traderlar
içinde
Feb 23, 2022 at 07:19
“Best” is very subjective. All pairs work differently because they all trend differently. For instance, I can trade EUR/USD rather than USD/JPY. All pairs require different analyses. It is up to you which pair you can trade well. So if you are new, try to trade with 2-3 pairs and test yourself out. However, go for major pairs or pairs which have high liquidity. You can go with EUR/USD because it is easy to trade for beginners.
Which pair do you use?
Yeni Traderlar
içinde
Feb 07, 2022 at 06:30
Mostly, I choose pairs based on liquidity and trading sessions. Major pairs make tradeable pairs because they have high liquidity. EUR/USD, USD/JPY, and GBP/CHF are my top three pairs.
Is a demo account really neccassary?
Yeni Traderlar
içinde
Feb 07, 2022 at 06:27
Even despite using demo accounts, many traders fail in forex trading due to lack of right psychology and risk management. Demo accounts can still be very helpful to those who have nil experience in the field of trading. I agree that trading is all about risks, but the risk isn’t worth it if you have ZERO skills. Inexperienced traders can use demo trading to create strategies. You can move to a real trading account once you have some skills.
There is no short cut
Genel
içinde
Feb 07, 2022 at 06:25
People who succeed in any field do not have the choice of a shortcut. There is no short path to success but if you work hard enough and do it smartly, you can cover the distance in less time. Try to give as much time to learning and practising as you can.
Demo can not make you well experienced
Genel
içinde
Feb 04, 2022 at 08:04
Yes, a demo account can’t provide you the real trading environment truly but still there is a lot to learn from the demo. You can practice any strategy to get familiar with its working. You can use various indicators to find out the best way to use them.
Money Management Systems.
Genel
içinde
Feb 03, 2022 at 08:25
The main reason that money management systems are not available is that all traders have their own way of managing the trading account. The money management system for a trader is always unique as every trader has different capital, risk tolerance, goal, etc.
Luck is important
Genel
içinde
Feb 03, 2022 at 08:22
I don’t think that luck is important while trading. It could only be a few trades where you could benefit due to luck. All the other times, it is the experience and skills that make you profit.
Leverage is useful or not ?
Genel
içinde
Feb 02, 2022 at 07:31
Some beginners are not able to understand the concept of leverage initially. But as they start to trade, they come to know that leverage can be very beneficial because it lets them trade bigger positions without owning a large amount themselves.
Scalping and trading strategy
Genel
içinde
Feb 02, 2022 at 07:27
Scalping is good for only those who understand the market well. Beginners should stay away from it.
Newcomers and demo trading
Genel
içinde
Feb 01, 2022 at 08:27
New comers and demo trading should be talked of together because demo trading is the tool that every new trader should take advantage of right from the beginning. Every new lesson learned by the new trader should be practised on the demo account to become familiar with the practical aspects of it.
There is a proverb that practice
Genel
içinde
Feb 01, 2022 at 08:22
The proverb is true to each word. Not only in forex but in every other field too, the proverb is applicable. New traders in forex often make mistakes but as they keep on learning, mistakes reduce and so does their loss. Practice is infact one of the most important things that can be done to succeed in forex.
To shine in forex
Genel
içinde
Feb 01, 2022 at 08:14
People who have been successful in forex have consistently traded with discipline and patience. If one has those traits, I am sure that there is nothing that can stop the person from shining as a forex trader.
You need sound mind
Genel
içinde
Jan 31, 2022 at 07:39
Trading while worrying about other things is like solving mathematical problems while listening to music. It won’t be profitable and instead you can lose your money if you trade with disturbances in your mind.
Greed, the destruction
Genel
içinde
Jan 28, 2022 at 04:35
Greed is harmful not only in forex trading but in general too. Most people join forex with a greed to make money and some are very eager to do it as quickly as they can. But unfortunately these people lose their money in forex trading. The reason for loss is investing in forex without the required knowledge.
Making consistent money
Genel
içinde
Jan 28, 2022 at 04:32
Consistent profit making is a dream for many in forex trading. Some traders are able to do that but they are very experienced in forex trading. A new trader cannot be expected to make consistent money out of forex.
Avoid predicting the markets, Rather be reactive.
Yeni Traderlar
içinde
Jan 27, 2022 at 07:37
It’s true that you have to predict the market to make good profits. But do you think you will be able to do that from the very beginning when you don’t even have any idea about what is happening. No, right! So, first, educate yourself, gain experience by going with the market, and then, practice predicting it.
Risk Management together with Leverage and Lot size
Yeni Traderlar
içinde
Jan 27, 2022 at 07:26
When someone talks about becoming profitable at forex trading, in no way do they mean 100% profits. In forex trading profits and losses are like cog wheels and both of them are important for you. Profits fill your pockets and losses fill your mind. So, stay active and keep making use of risk management strategies to become capable of handling your losses.
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