Forex

Indorder posted:
Easier said than done. All humans have emotions when they are $1000 in the red!

Trading should be done with amount the trader is ready to loose without to be broken. That said, does not mean that the money should be lost and once this is accepted, the emptions will not interfere over trading.
:)

Every faction in Fx trading contains huge risk, I admit. But if we can observe some mandatory trading rules Fx trading can be profitable but practically majority become loser from here , because they try to earn maximal result without learning.

What are your 'mandatory trading rules '?

My common rule: Be prepared for the worst ... there is always a sense of unpredictability that should be taken in consideration even if you have the best strategy in place. Don't remember who has said this, but for me it's a mandatory rule:
'Never bet your lifestyle'

No risk - no champagne

Newbie should take demo account first of all because it will help them out significantly to gain more experiences and knowledge and to make mistakes as well. We all need to pass up all of those mistakes with fake virtual money rather than real money for sure.

For sure, fake money is a lot cheaper than real money!

Chachingggg posted:
For sure, fake money is a lot cheaper than real money!

Only goverment can print as much money as needed without pain

togr posted:

Chachingggg posted:
For sure, fake money is a lot cheaper than real money!

Only goverment can print as much money as needed without pain

Ha ha ha! Wall said; by the way I got your point of view!

Even the government can't print money unchecked, that's how inflation tanks your economy.

In Fx trading there are many mandatory things that we have to ensure if we want to get maximal result from our trading . first of all when we newcomers have to move Babypips school to acquire real trading knowledge and also trade in a demo account at any broker, but practically mostly traders don’t believe the importance of this trading place at all. as a result they fall a great loss when trading practically.

mlawson71 posted:
Even the government can't print money unchecked, that's how inflation tanks your economy.

Right even government can't print money unconditionally, if this was the case than no one would have been poor in this world.

Just look at turkey. if you don't keep control of monetary policy the currency devalues and the economy suffers.

in Fx When looking for a broker there are many things that you have to check. Accordion to my trading experience, first of all, I will be looking for in a broker is, if they are regulated or not. Then I will see their deposits and withdrawal system how it works. Only regulated trading broker guarantee their client’s funds with certainly.

Totally. regulation is what you have to see, and from a proper country not some island in the Caribbean. I obviously like to look at spreads and commission too because that is the day to day cost for trading

In Fx trading there are many mandatory things that we have to ensure if we want to get maximal result from our trading . first of all when we newcomers have to move Babypips school to acquire real trading knowledge and also trade in a demo account at any broker, but practically mostly traders don’t believe the importance of this trading place at all. as a result they fall a great loss when trading practically.

Mohammadi posted:
In Fx trading there are many mandatory things that we have to ensure if we want to get maximal result from our trading . first of all when we newcomers have to move Babypips school to acquire real trading knowledge and also trade in a demo account at any broker, but practically mostly traders don’t believe the importance of this trading place at all. as a result they fall a great loss when trading practically.

No doubt, demo trading is very much important platform to learn Forex! New traders need to utilize this opportunity instead of misusing/abusing this opportunity.

I think the main thing to bear in mind when trading forex is do not over leverage your account, so many people want to make as much as possible as quickly as possible and as soon as the market goes against the slightly they are in a margin call!! trade slow and trade steady!

Demo is great but micro is better. Just risking a few cents is enough to really change the game and they way you trade. I would rather lose $500 from 3 months on micro than spend 3month on free demo. I would learn more from micro