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Posts by
Furbelows
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Market fluctuations are an artificial phenomenon.
in
General
May 10, 2022 at 04:01
Market itself is an artificial thing. It exists because people want profit. Some of these people have more influence on the market than others who can move the market according to them sometimes. Either way, if there is a winner, there is a loser too. Do not expect that you will earn profit each time but do carry on your efforts to minimise your losses.
Bonus and broker
in
New Traders
May 06, 2022 at 10:34
There are many good forex brokers that offer deposit bonuses but it’s better to read T&C before using it as some brokers also put restrictions on trading when you use a deposit bonus. Otherwise, a deposit bonus is a wonderful tool. I too have used it when I opened an account with Coinexx, faced no issues while trading or withdrawals.
Famous Traders and Investors, what to think of them
in
General
Apr 25, 2022 at 10:37
Some infamous traders who make mistakes and fail are also worth mentioning here. While famous traders are a source of inspiration, these infamous and failure traders are a source of knowledge. Beginners and experienced too can learn from their mistakes in order to prevent their losses.
You need sound mind
in
General
Jan 27, 2022 at 05:15
Peace of mind is crucial as clear decisions can not be made with a disturbed mind.
Newcomers and demo trading
in
General
Jan 25, 2022 at 05:16
You are absolutely correct. Demo trading accounts do have their limitations. A trader is left off the actual psychological experience in demo trading but it is a great tool to make a beginner familiar with the platform and forex trading. Beginners should avail the benefits of a demo trading account before moving on to actual trading.
There is no short cut
in
General
Jan 25, 2022 at 04:16
Shortcuts are often very convincing but in the end they only provide a temporary solution. When it comes to long term success, shortcuts don’t work. In forex trading too, you may find a strategy that you think can make you quick money. This strategy may work for you a few times but if you don’t practice enough you can’t make profits from it.
Luck is important
in
General
Jan 25, 2022 at 04:14
Even for you to be lucky, you have to put in some effort. Luck doesn’t work on its own. You have to learn, practice, analyse your trades. You just can’t expect to make profits by entering or exiting any trade without any strategy or logic. Moreover, if you rely on luck completely you can never learn to trade profitably and when luck will leave your side you’ll lose all your profits by making wrong moves.
From $1 to 10 million
in
New Traders
Jan 24, 2022 at 07:01
To make from 1$ to 10 million in forex trading, you need a proper plan and a standard operating procedure. The reason for this is because you will never know when the market will make a significant move and where it will go after that. If you have a trading plan in place, then executing your strategy will be much easier and less stressful.
Mistakes.
in
General
Jan 21, 2022 at 05:49
Mistakes are a common thing even in forex trading. Some people when not in their right state of mind often make mistakes. This is why traders are suggested not to trade if something goes wrong and you are stressed or disturbed before trading. The trader can skip once to keep trading efficiently later on.
Does forex strategies usually work>
in
General
Jan 21, 2022 at 05:49
Forex strategies work only if the trader is able enough to execute them properly. No strategy can work by itself without the active contribution of a trader. Some traders even use a single strategy in multiple situations as they have a lot of experience with that strategy.
Making consistent money
in
General
Jan 21, 2022 at 05:11
Making a consistent profit in the forex market is not as difficult as many people think. One should be aware of certain key aspects and work consistently over those factors to achieve his goal. Also, be patient because earning consistently is not a matter of few days but it takes a lot of time.
Fundamental works 100%
in
General
Jan 20, 2022 at 05:19
Understanding the fundamentals is a crucial part of trading, especially if you are a novice trader who has never traded before. While you can study the price movements on charts, to know the reasons behind these price movements you need to study fundamental factors. In Forex and any other market, it's very important to have a good grasp of the most important concepts to be able to trade successfully.
Demo can not make you well experienced
in
General
Jan 19, 2022 at 07:04
The demo doesn't make you a professional. It just makes you better! Many newcomers to Forex trading think that demo trading is not a good way to make the transition from a newbie to a pro. Demo trading is a great way for a new trader to get a feel of the market without really risking any real money.
Believes.
in
General
Jan 19, 2022 at 07:01
Yes, using stop losses and limits is a good way to manage risk when trading currencies. In simple terms, a stop-loss order is used as a method to cut your losses when your trade is not going according to plan.
The fear of losing opportunity
in
General
Jan 18, 2022 at 07:45
Many traders face the fear of losing opportunity when they are trading the Forex market. Some traders are able to overcome this fear and continue trading, while some traders are not able to overcome the fear of losing the opportunity, and they stop trading.
Stop loss is a killer if
in
General
Jan 18, 2022 at 07:43
Stop Loss is a killer if you are unable to control your emotions. If you can't draw the line, then there is no point in trying. Always know how much loss you can take at any given time.
News trading is very tempting
in
General
Jan 18, 2022 at 06:06
News trading is the act of buying and selling currencies after an important news announcement has been made. A trader should buy a currency following good news and sell after bad news, or vice versa. This is because an announcement can cause a major shift in the price of a currency, and if a trader acts quickly enough, they can make substantial profits.
What makes one a Professional Trader?
in
General
Jan 17, 2022 at 06:09
Professional traders have a passion for trading. They enjoy the financial rewards of trading, and they thrive on success. A professional trader has a plan, knows their risk parameters, and sticks to a plan.
Loss
in
General
Jan 14, 2022 at 05:37
Loss in forex trading occurs when a trader's trade goes against them, and they incur a loss. They can prevent loss by using various strategies. To mitigate risk which can lead to loss, traders need to know the currency supplies and use effective money management systems.
Basic mistake we make
in
General
Jan 14, 2022 at 04:28
The basic mistake that most traders make is that they don't do any research before they buy. First, you have to know how the economy works and what effect it has on the price of a currency. You have to have a plan on how you are going to trade before you buy anything, don't just go out and do it. This will make a trader more successful in his trading career.
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