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What is the importance of knowledge?
v
Obecné
Dec 29, 2022 at 08:13
No theoretical knowledge is sufficient unless you have the idea how to apply it in practicality. And for forex, demo trading for 4-6 months is the answer to it.
What is a good performance?
v
Obecné
Dec 29, 2022 at 08:10
Hi there! I can’t probably tell what DD/Gains ratio shall be considered ‘good’ because I’m unaware of your strategy. But the only thing I can tell is that - It’s a good performance as long as you are happy with the profits. Word of advice - don’t become greedy. Focus on trading psychology more as you already have a strong strategy. Now your main enemy is your own mindset.
Most people fail because
v
Obecné
Dec 29, 2022 at 08:06
If this is the approach you prefer, the then trial-and-error method can be pretty expensive for a live account. It’s better to practise in the demo market. It will save you a lot!
Bonus and Brokers
v
Obecné
Dec 29, 2022 at 08:00
Honestly, I would suggest the same as well to other traders. Don’t run behind bonuses and attractive offers that shout “free money” in other words. Stick to the basics. Choose a broker that offers tight spreads, lower fees, and accurate real-time forex data.
where to invest money to get good returns
v
Zkušení obchodníci
Dec 22, 2022 at 06:07
Why invest and wait when you can scalp and make good profits? (P.S. you must be a scalping master, so keep practising)
Manual VS Automatic trading
v
Zkušení obchodníci
Dec 22, 2022 at 05:56
In my own experience manual trading is best. And when the trader learns coding to develop their own bot, its even better!
EURGBP set up ideas
v
Zkušení obchodníci
Dec 22, 2022 at 05:54
Did it actually rise high on Tuesday?
What could be the next Ethereum?
v
Krypto
Dec 22, 2022 at 05:45
ETH is actually outperforming ‘altcoins’ if you judge carefully. Bitcoin is considered the king of cryptocurrencies, and just after BTC comes Ethereum. I personally don’t think any other altcoin will be able to replace ETH
Which according to you raises your trading cost the most?
v
Obecné
Dec 20, 2022 at 08:24
I think it completely depends on the methodology a trader uses for trading and the duration of trades.
Keep your innovation running
v
Obecné
Dec 20, 2022 at 08:16
Or, better than planner, a trader must know how to maintain a trading journal. Not only will it help them to take accountability, it also helps in self realisation, and a better development in trading psychology/mindset.
New traders love scalping
v
Obecné
Dec 20, 2022 at 08:11
Indicators in themselves are not so useful. A trader must know how to analyse price action charts properly. Following indicators will assist them on this analysis.
Successful Traders Mindsets
v
Obecné
Dec 20, 2022 at 08:08
Developing trading psychology is an important key to having a successful mindset for trading. It will help you stay strong in this year long game of winning and losing.
Is investing in the forex market risky?
v
Obecné
Dec 19, 2022 at 07:29
Trading simply means one party makes profit and the other party suffers a loss. Forex trading is a zero-sum game. As a result, risk is naturally involved.
Is it better to invest or save money?
v
Obecné
Dec 19, 2022 at 07:23
It is the thumb’s rule that you should invest only when you have enough savings, and can risk capital for making profits.
Can Traders still make profits both in a bull and bear market?
v
Obecné
Dec 19, 2022 at 07:19
There is only one side to the forex market. It is not the bull side or the bear side, but the right side, and that is how you bag in profits.
Different approaches of trading
v
Obecné
Dec 19, 2022 at 07:03
Absolutely. But in fact, no approach to trading strategy can be successful without the right risk management and trading psychology.
Strategy-based trading
v
Obecné
Dec 16, 2022 at 06:31
Trading forex without a strategy is the same as gambling. You are basically going all in and relying on your luck.
Money management & lot size
v
Obecné
Dec 16, 2022 at 06:27
Using stop loss is necessary not only for risk management but also for money management. Aim at not risking more than 2% per trade even if you think you have enough capital. Secondly, use a lot size trading calculator for help. Moreover,lot sizes do not depend on whether you are using stop loss or not. So it wouldn’t affect me.
Luck is important
v
Obecné
Dec 16, 2022 at 06:26
Agreed. Only delusional people like to trust in luck. It’s either hard work or no money. Forex is technical, there’s no space for luck.
Demo can not make you well experienced
v
Obecné
Dec 16, 2022 at 06:21
Unless real money is involved, a trader will not feel the anxiety, fear, nervousness, greed, or anger that comes while trading.
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