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What do you learned while trading?
in
Galvenais
Oct 04, 2022 at 09:43
Well said, I absolutely agree with you. In order to be successful in forex trading, you should be patient and consistent for a long term. Success doesn't come easy and fast. Only years of trading forex will build your skills and experience to make profits from trading forex. Learn from your losses. Analyse the market situations, and always strive to improve your strategy. Psychology is also an important aspect of forex trading.
Why are some traders successful?
in
Galvenais
Oct 04, 2022 at 09:43
Successful traders always are good money managers besides having good trading skills.
Best forex demo account brokers
in
Galvenais
Sep 30, 2022 at 11:53
You can check out the demo account of coinexx and traders way, both support mt4 and mt5. If your demo experience turns out to be good, then can go live with them with only 10 bucks.
Is trading hard?
in
Galvenais
Sep 23, 2022 at 09:16
Yes, forex trading is a hard job. It requires more dedicated hard work. Also, one must be knowledgeable in the financial field and have a good understanding of how the market works in order to succeed at forex trading.Forex traders should also be aware of the risks involved in trading with leverage and understand how it impacts their positions.
Free sources of professional Forex education
in
Galvenais
Jul 26, 2022 at 11:46
It’s better to learn from free sources than spending time on paid courses that share almost the same knowledge. There are many popular free forex courses available online, But personally, I’d suggest following the blog of Rayner Teo named ‘TradingwithRayner. They are highly explanitive, and best for newbies.
Trading for the long-term
in
Galvenais
Jul 26, 2022 at 11:46
Yes, winning trades in forex can make up for a good source of consistent income in the long run. Forex trading is not easy, it requires a lot of accuracy in analysis to be able to predict the market correctly and take profitable decisions without letting overwhelming decisions block a clear thought process. But once you become profitable, there is no holding back. Many people have made their living out of forex trading. In order to achieve this, you need to trade diligently for a long term.
FX Trading Tips
in
Jauni treideri
Jul 25, 2022 at 10:56
Really nice post. Actionable and wise tips especially for new traders. Keep sharing such types of helpful advice and suggestions.
Forex trading is a work for professional
in
Jauni treideri
Jul 25, 2022 at 10:55
Professionalism helps you make more money in the market. Newbies are also making money but professionals are making a lot of money. And there's only one way to be a professional trader. Which is to keep learning and upskilling.
How much should you invest in trading
in
Galvenais
Jul 25, 2022 at 10:55
See, Forex trading is a multi-trillion dollar business. There is no limit to how much money you can invest in the market. There is neither a maximum nor a minimum requirement in order to engage in trade, and neither can be changed.
Newbie wannabe Trader
in
Jauni treideri
Jul 22, 2022 at 07:00
Hey, do not get discouraged due to the confusions you are getting. It is an usual process. Every new trader has to cope with it in the beginning stage. Make the most of the power of the internet. You can find useful information there and it will be helpful to achieve your goals.
5 Things I have learned in 5 years of trading!
in
Galvenais
Jul 22, 2022 at 07:00
Here’s what I have learned - 1. Using a stop loss is important, but you shouldn’t set it too close. Because the volatility of the market tends the price chart to frequently go up-and-down. Setting the stop loss too close to the entry point will exit your trading too soon. 2. Maintaining a trading journal is helpful in a lot of ways like keeping a track of your profits and loss, keeping a record of important decisions, and other things. 3. Setting unrealistic goals is only going to harm your mentality and mindset. Set achievable goals and targets. 4. Demo trading is really necessary...
Psychology
in
Galvenais
Jul 21, 2022 at 10:33
Trading psychology is essential for a trader in order to maintain focus, discipline, and consistency in trading. Trading psychology, although some might think, is not so important, is a definitely crucial aspect. Simple and underrated things like anger, frustration, greed, overthinking, and other overwhelming emotional factors affect the mindset of a person. This creates a disturbance in carrying out his trading plan successfully. Which is why developing a trading psychology always helps a trader be mentally efficient in forex trading.
Is a demo account really neccassary?
in
Jauni treideri
Jul 21, 2022 at 10:32
Demo trading is a must for every beginner in my opinion. Starting with a real account in the first place will be confusing and overwhelming for them. Also, it helps us to check the trading conditions offered by a broker. And even experienced traders use demo accounts for forward testing their strategies. I still use my demo account along with a live account as it helps me learn and test my trades without risking real money in the first place.
Impulse Trading and How to Avoid It
in
Jauni treideri
Jul 21, 2022 at 10:31
Impulsive trading happens mostly when we get carried away by our emotions and deviate from our original trading plan and strategy. It often leads to over-trading as well. Emotional control is very much needed to fight the urge to act upon sudden impulses. We must work on building trading discipline and strictly follow our plan while trading.
Small investment
in
Galvenais
Jul 19, 2022 at 09:39
It does not matter whether you are starting up with small investment or with big money. You can only make profit by your deep knowledge and understanding of the market.
Strategy-based trading
in
Galvenais
Jul 19, 2022 at 09:38
It is a must when trading in the forex or any other market. Without a profitable trading strategy you will only make losses.
Money Management Tips
in
Galvenais
Jul 15, 2022 at 06:32
I agree with you. Risk management cannot be denied; we have to follow risk management rules to trade. As we get involved in the journey and explore it, we find many different situations along the way. These situations will help you grow in the forex market as they will help you open your mind to different situations. Your trading will eventually carry you to perfection. Risk management will evolve with time. Of course, the things I mentioned above are valid only for those who are serious about trading.
Does emotion harm?
in
Galvenais
Jul 15, 2022 at 06:32
Emotions are a part of our life. In any area of life, our emotions affect our decisions. The same goes for trading. Trading in the forex market without emotions is impossible. It is important to keep emotions in check while trading to keep the focus on the same.
Forex market offers great opportunity
in
Galvenais
Jul 15, 2022 at 06:32
The foreign exchange market provides numerous excellent opportunities for one to both study and make money. If you have a good grasp of the market and some experience in trading. Then you have a decent chance of making a lot of money.
Very tough business.
in
Galvenais
Jul 14, 2022 at 06:42
The foreign exchange market is extremely volatile and risky. This is why most people believe forex trading is difficult. However, if you can learn and have a thorough understanding of the market and a good adaptability in the ever changing market, things will be much easier for you.
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