Different approaches of trading

There is no single way to succeed in the forex market. You are free to pave your own way in accordance with what you are comfortable with and what you wish to achieve. Customise your ways as per that and you will be great.

There are two ways of trading in forex: long term and short term. Long term trading involves holding a position for a prolonged period of time, often for several months or even years. Short term trading, on the other hand, involves taking a position for a shorter period of time, often just a few days or weeks.

You have to take the responsibility of your trading career. Don’t depend on anyone to help you with your trades. Instead, pave your own way to success.

Dreamery posted:
There is no single way to succeed in the forex market. You are free to pave your own way in accordance with what you are comfortable with and what you wish to achieve. Customise your ways as per that and you will be great.

That’s so true. In the Forex market the only way to find one’s own direction and strategy is by learning and customizing the skill sets to achieve the trading goal.

hendrickscock posted:
In my opinion, gambling is just gambling even if you do that in the forex market. It cannot be considered trading from a professional perspective. Still, there are many people who either lack knowledge and end up gambling unintentionally or intentionally follow martingale strategies which are a form of gambling. Both are dangerous and can end up in huge losses. Risk management is the true essence of trading for me. So a trader must pay at most attention to managing the risk and minimising losses before anything else.

Totally agree!

Scalping means closing a trade within 10 to 20 pips. It is the easiest form of trading and traders rely on this type mostly in both good and bad conditions of the market.

'Any trading strategy should be consistent with the personal qualities and discipline of the trader, analyzing the information coming from the market and assessing its nature and how he creates a forecast based on actual data. Is inclined to keep profits and cut losses. A ready-made trading strategy is similar to a clear action plan that applies to manual and automatic trading. A few years ago, I started as an independent trader and financier, but I realized that working in a company has advantages over time. Thanks to the tips on https://www.wallstreetoasis.com/resources/interviews/private-equity-interview-questions, I managed to get a job in a good place.

Yes, Forex is an easy source of earning for traders. Traders can generate profit from here sitting at home. No other professions allow people with such a trading facility. So, try to make the best use of this facility and build your career.

CarrotNetwork posted:
Gambling can never be considered as a rational approach towards trading. A professional trader will never rely on martingale strategies as they always trade with a tight risk management plan. Risk management should be there no matter what trading style you follow in the forex market.
 

Well said!

One should keep a rational approach towards trading because it helps in giving your mind a direction in trading, also risk management should be thoroughly followed in order to be on the safe track.

Scalping is the easiest form of trading and traders rely on this type mostly in both good and bad conditions of the market. Scalping is also quite easier type of trading than others.

There are different approaches to trading such as swing trading, day trading etc.

as a beginner retail trader i found trading is really hard . but i never stop learning at all.

There are so many ways to go to Roma, in forex trading, there are so many types of trading strategies, and each trader has their own way of making money from trading. Although there are various trading strategies, the goal is the same, traders want to make a profit.