Tools to trade.

AniLorak posted:

jamesgwyther posted:
You only need the charts

Very powerful trading strategy; this is why right now I mainly focus on Price Action trading system.

Well; may I know your trading pair list? Do you use Gold & silver?

demo is the best place to see leverage performance , before live traders should use high leverage in demo., it always supportive to avoid risk when live.

i lose much above all when trading with high leverage , tried to bring profit very rapidly but there was no money management or any good trading plan. as a result faced a huge loss. it was my very first past experience.

leverage is a very complicated tool in Fx trading , sometimes it bring profit very rapidly , sometimes it causes a great losses and risk in spite of having risk management , but after all its one of the major financial issue in Forex.  

I trade based of my personal trading strategy, it’s a combination of 4 default and 2 custom indicators! So for me, trading preparation means, counting the positions of all of trading indicators according to my strategy! Besides, I also count currency correlation! That’s my preparation!

Your eyes your best trading tools

In my opinion , major currencies like EUR, USD, JPY, GBP etc can be a few to keep in mind while trading for profit. Others currencies are also good but I think these pairs can be high riskier and less liquid too.

demo is the best place to see leverage performance , before live traders should use high leverage in demo., it always supportive to avoid risk when live.

Roberto21 posted:
In my opinion , major currencies like EUR, USD, JPY, GBP etc can be a few to keep in mind while trading for profit. Others currencies are also good but I think these pairs can be high riskier and less liquid too.

Certainly these pairs are the most traded ones among traders by virtue of their very nature.

in order to me , the best way is for someone to get a demo account and then try Forex trading without the benefit of any training or even reading of the basic of Forex trading, this way , you will get confused a lot and therefore , if you get attracted to the trade, you will search the web and find out and learn about the things which are making you confused.

its a good time may be for you to learn good knowledge and experience , just keep cool mind and stay in education in baby pips. happy learning.

the best tools is your brain and experience. the big amount of 'ammunition' and 'weapon' can make you slow and ineffective.
don't chase tools - chase knowledge and experience

So many experience traders always suggest us to acquire good trading knowledge by learning to keep survive in Forex in a proper way. But according to me , only trading skill is not good enough to make profit consistency devoid of ensuing exact trading discipline and money managing plan.

Roberto21 posted:
So many experience traders always suggest us to acquire good trading knowledge by learning to keep survive in Forex in a proper way. But according to me , only trading skill is not good enough to make profit consistency devoid of ensuing exact trading discipline and money managing plan.

so what else you need to have? Beside knowledge and trading skill?

eleonorashatik posted:

Roberto21 posted:
So many experience traders always suggest us to acquire good trading knowledge by learning to keep survive in Forex in a proper way. But according to me , only trading skill is not good enough to make profit consistency devoid of ensuing exact trading discipline and money managing plan.

so what else you need to have? Beside knowledge and trading skill?

experience, A LOT of experience.

Learning is the foremost ways to keep survive in this volatile trading place in a proper way. But sorry to say 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.

Lacking of money management is a part of losing, I admit it. But not the foremost at all. The main issue is keeping emotions with lack of good trading knowledge.

The trading tool must really be of sufficient quality and effective.

The trading tool that I use is stop loss. That I consider to be very important in trading. I need to know my limits and make sure that I do not trade too much with high risks. It goes a long way in ensuring that I achieve just that. Do not take this tool forgranted if you are a new trader