sharabela's Posts - Page 6

METHOD OR DISCIPLINE? in General Dec 05, 2021 at 07:11

We need both to be a successful trader. Method is something, which relates to strategy. Traders may find a number of good strategies. All of them may be used to make money. However, a trader may not be able to make money by using those strategies if he is not disciplined. Discipline is needed. A good strategy without discipline is nothing.

Forex Courses in New Traders Nov 15, 2021 at 16:39

There are plenty of free materials on the internet to learn forex trading. Some of them are really good staff. We just have to do a good search. On youtube, there are some good channels that contain some great videos. Thus, I do not think we should buy expensive trading courses. Even an expensive course may not contain good lessons. We cannot be sure before purchasing it. So what is point of losing money in them.

Basics knowledge is not enough in General Nov 15, 2021 at 16:34

It needs hard work, hours of study and dedication to learn forex trading. Basic things are never enough to deal things professionally. However, it starts with basic though. A trader must learn the basic and with time, he must learn advanced things as far as forex trading is concerned.

The less complicated trading system in General Nov 10, 2021 at 08:45

You are very right on the note that a trader is to stick with his own strategy that he is comfortable with. I personally like to keep things simple. In the Forex market, simple strategy works better. We just have to find the right strategy that offers better risk-reward with excellent winning rate.

NEW TO TRADING in New Traders Nov 10, 2021 at 08:13

First to start with, make up your mind to be devoted towards Forex learning. Do a good search on the internet to get forex videos, lessons, pdf. You get a lot of free learning materials on the web. Practice your learning on demo account. Take time to find a solid strategy that works for you. Never be in a hurry to jump into live trading. I am wishing you all the very best.

Basic mistake we make in General Nov 10, 2021 at 08:07

The main objective of forex trading is earning money. However, trading is the toughest way to make easy money. A trader must work hard to learn trading and make money consistently out of it. If trading is not dealt accordingly, a trader is bound to make mistakes. These mistakes lead him towards having serious loss at the end.

The demo account is the master in General Nov 01, 2021 at 07:46

Yes, demo is the best place for a newbie to practice. However, I believe it is good option for an experienced trader as well. An experienced trader can test his new strategy on a demo account without having any loss, stress, tension.

The demo account is the master in General Nov 01, 2021 at 07:36

You are right on this note. I believe demo trading is a great option, which is a wonderful gift for the traders. We often ignore to deal with demo trading accordingly. If a trader trades on demo account to learn the ropes of this market, he should be able to be a good trader with very minimum damage.

Purpose of demo trading in General Nov 01, 2021 at 07:18

Demo trading is something, which must be taken very seriously by every single Forex trader. A trader must devoted himself in demo trading at least for a year. He also is to make sure that he trades on demo as if he is trading on a live account. Once he is confident, he may switch to live trading. A demo account is still need to be maintained by a full time trader to check his strategies.

When to stop. in General Nov 01, 2021 at 06:50

A Stop Loss is to be set accordingly. A too wide Stop Loss may not be a good idea. It would get us more loss than profit. It means if we keep trading with such wide Stop Loss, we may not have good risk-reward. It would be an obstruction to be a consistent trader in the end.

Complicated strategy is not good in General Oct 23, 2021 at 16:16

The simpler the better it is. I do agree with your statement that you have made here. Forex trading or strategies do not need to be complicated. It is all about applying our learning at the right in the right way. I have seen some strategies that really work are very simple. Yes, a trader must be patient to find out those setups to take an entry and be sanguine that all the factors match to pull his trigger.

Indicators are reliable but in General Oct 23, 2021 at 16:06

Of course, indicators are reliable. There are some good trading strategies based on indicators. However, one needs to learn and do enough back testing before using indicators. Time frame is an important factor as well. Some indicators work well on particular time frame, which needs be found out by traders.

No one should depend upon luck in General Oct 22, 2021 at 17:39

I truly believe luck does not have that much to do with Forex trading. It mainly depends on our skill, discipline, and patience. Not being a genuine trader, someone may make profit from 2/3 trades, but at the end of the day, he will lose them all. If you want to call those 2/3 profit trades by luck, you are right. Do not forget the end result though, where he would lose all of it.

Most traders don't get success in General Oct 22, 2021 at 16:09

Most traders are unsuccessful. In fact, statistics suggests that 95% traders fail in this business. One of the reasons for that is traders invest their money in live market way too early than they should. Since it is not an easy business, they lose their money as well as confidence. Let us not do it. We must invest our hard work, time and dedication before investing real money in this market. It is not easy but it is certainly doable if it is dealt accordingly.

Forex is not a bad business in General Oct 22, 2021 at 16:00

Forex is an excellent business, which offers unlimited profit and unlimited loss. Thus, it depends on an individual what he wants to achieve from this business. One thing for sure this is not as easy business as it seems at the beginning to most of the traders. It is a serious business and it is to be dealt with very cautiously. A trader needs to learn and invest his time before getting into this business.

We should not think in General Oct 22, 2021 at 15:47

Forex market is very uncertain. Thus, it may not work for us if you set a goal or an amount to earn from this market in a particular month/week. Some months/week may not produce good result, some may produce amazing profit. This is how it works. Let us concentrate in trading more so we can only trade on a solid trade setup with proper money management, discipline, and patience. Then, we take whatever it gives us.

7 Things to Know to Become a Successful Crypto Trader in Crypto Oct 22, 2021 at 15:32

These are some good tips you have given in this post. I am a crypto investor as well. I hope it is going to help me and it would help many traders like me over here. Keep posting such good posts with trading tips regarding cryptos. Thanks in advance.

Best Crypto to Invest in these Times. in Crypto Oct 22, 2021 at 15:27

Cryptos have been having a good time. I personally think BTC and ETH have great future. At the moment, BTC is expensive to buy. Though, it has a long way to go as far big guns are concerned. For retail traders, ETH may be a better option.

Fear is the greatest reason in General Oct 16, 2021 at 16:52

Trading with a proper strategy, discipline and confidence may not make us be scared of losing in trading. Losing money is a part of trading, which can not be avoided. However, if we still have fear of losing money, it means we are not confident on what we are doing. We may need to sort our strategy out by going back to demo trading.

No one should depend upon luck in General Oct 16, 2021 at 16:44

Luck is never going to take you anywhere as far as trading is concerned. It all depends on your trading knowledge, experience and how well you apply them. We must not depend on our luck but dedicate ourselves to learn how to trade accordingly and be disciplined with it.

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Posts by sharabela