Psychology of Forex Trading

Roberto21 posted:
we always think which time is best for trading , i think every time is best in Forex trading if you know how to manage money but for the beginners level it is more appropriate to avoid news trading , its too much complicated to predict the real faction of this market with certainly. 

Well said; but basically set my entry point according to the position of support/resistant levels!

Well yaa i agree somewhat. You should rather try to engage yourself on some forex trading forums where traders talk about their challenges, their strengths and tricks they use to trade forex. That’s a great place to learn from people’s experiences.

I find forums interesting but dangerous. Mainly forums are filled with newbies offering there 2 cents rather than pros providing decent advice

cravenprofession posted:
I find forums interesting but dangerous. Mainly forums are filled with newbies offering there 2 cents rather than pros providing decent advice

yeah there can be some of those types on forums, there are also others that are helpful and worth listening to.

Forex market is so complicated above all when you are a beginner , and there is lots of chances to take wrong decision even when choosing a broker . so the importance of a fx mentor is more. but dont fall a scam , good luck

Tough to find a good mentor though and not fall into a scam

brashentries posted:
Tough to find a good mentor though and not fall into a scam

Well, that’s the major issue which many traders are facing, other than emotional dis-balance. These scammers are ever ready to grab hold of you, so everyone has to be careful with what they choose, specially if its a paid service.

practice and learning , its a combination which is really important for the traders who are particularly beginners.

Mohammadi posted:
practice and learning , its a combination which is really important for the traders who are particularly beginners.

Practice is the best medicine; you can read tons of trading eBooks; but without enough practice there is no value!

When the risk is low, you can sleep better. I use the minimum available leverage. Therefore, when I make a decision, I can do it consciously.

How do you make any profit with minimum leverage. You must have a massive account. I need at least 1:100 to get any kind of decent profit

For new traders early success can effect them only, many people in other businesses dont consider forex a serious business where they can make money for living newbies need to understand this there is no short cut and no way to succeed without learning and experience.

Baazex posted:
For new traders early success can effect them only, many people in other businesses dont consider forex a serious business where they can make money for living newbies need to understand this there is no short cut and no way to succeed without learning and experience.

That’s the reality & I have no objection on it! Forex is not an easy way of money making! It’s a smart profession!

Bernfeld posted:
When the risk is low, you can sleep better. I use the minimum available leverage. Therefore, when I make a decision, I can do it consciously.

So, what’s your average risk percentage? 2% or near about 1%?

in Fx trading demo is really good for any kinds of traders especially for newcomers. i use all my trading strategies in demo to see the performance how it works, this approach always help me to avoid risk when trading in practically.

i have seen maximum traders who are particularly newcomers try to make money from here without learning. As a result they become loser when trading practically. It would be great if we choose the broker which always ensures best trading environment for learning this trading place by providing exclusive educational facilities.