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MichaelEX
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MichaelEX
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Learning from the past
in
General
Mar 01, 2021 at 12:44
Making mistakes while trading is very common. Skipping these mistakes and cursing yourself won’t help. If you want to improve your trading skills, start learning from your mistakes so that you can avoid the same mistakes in future.
How to Successful Forex Trading Mindset?
in
New Traders
Mar 01, 2021 at 12:43
Developing a daily routine can help you with a positive mindset toward forex trading.Learn daily about forex. Your mindset will ultimately define your reactions during losing trades or large profits. Meditation can help you to keep focused and calm at that time.
Making consistent money
in
General
Feb 20, 2021 at 09:25
Earning consistent money is possible in trading but only for those who are willing to put their effort and time into it. It demands patience, discipline, knowledge and experience to pull money from the market.
People come into trading
in
General
Feb 20, 2021 at 09:25
Many people come into trading because it is one of the best ways to earn money just by sitting at one place. People can make huge money out of it and can achieve their financial goals but trading is not an easy task, it demands a lot of time, effort and patience too.
Is math important for trading?
in
General
Feb 20, 2021 at 09:23
Yes, basic math is important if you enter in trading because traders need research and analytical skills to monitor economic factors and chart patterns that impact financial markets. Math & Statistics can be your best friend for efficient trading.
Regulated broker vs. Unregulated broker
in
New Traders
Feb 20, 2021 at 09:22
The non-regulated brokers wouldn't surely incorporate standards in their practices which is risky for traders. I would suggest going with regulated brokers.
Is trading hard?
in
General
Feb 17, 2021 at 11:31
Trading is not an easy task. It’s really hard if you don’t have knowledge about it.It demands time and effort to gain knowledge and experience. Trading without knowledge is not a good idea.
Bonus is not that much important
in
General
Feb 17, 2021 at 11:31
Many brokerage firms compete for business by offering new account bonuses. Bonus shouldn't be the only consideration, this is a marketing strategy to attract customers. Choose your broker carefully as per your requirement.
Revenge trading
in
General
Feb 17, 2021 at 11:30
I would say avoid revenge trading, control your emotions as many people do this to cover the loss of previous trade but again end with the loss. Just stick with the plan, have patience, wait for the right time to recover loss.
Consistency is the brick
in
General
Feb 17, 2021 at 11:30
That’s true!Consistency is the brick for achieving success, not only in trading but in every aspect of life
Complicated strategy is not good
in
General
Feb 17, 2021 at 11:29
Strategy is totally up to you. You can make it simple or complicated what fits to your goal and risk. I think sticking to that plan or strategy is more important.
It is very important to sharpen
in
General
Feb 09, 2021 at 11:38
Strongly agreed! Never stop learning here, even most successful traders are still learning.It is must to improve our trading skill, the more we learn the more we can earn.
Indicators are useful but
in
General
Feb 09, 2021 at 11:37
Using multiple indicators is always useful, using a single indicator is not much effective to predict where prices will move in the future.
There is no easy way of learning
in
General
Feb 09, 2021 at 11:37
Yes, I agreed. If you are finding shortcuts in trading, you are at the wrong place. Trading demands hard work, patience and consistency to sustain for a long time.
Stop Loss Importance
in
General
Feb 09, 2021 at 11:35
I never trade without stop loss because this gets you out of your position if the price turns against you. It is a good risk management strategy to use.
Over-trading is a very harmful
in
General
Feb 09, 2021 at 10:05
Most of the time, people over-trade because of emotional trading whether it is fear or greed.Some people over-trade just to recover their previous loss and some become too greedy to earn a lot from trading.Avoid over-trading, this could be very harmful and you can lose your hard earned money.
What is fast forex scalping?
in
General
Feb 09, 2021 at 10:04
I never heard the term ‘Quick scalping’. Scalping is the fast way of trading itself. You can enter and exit the market in just a couple of minutes and can earn a small profit.
Most people fail because
in
General
Feb 09, 2021 at 10:03
Greed to become rich overnight and jumping into trading directly without having knowledge and experience is the reason most people fail.
Not a good idea to follow many pairs
in
General
Feb 09, 2021 at 10:02
Typically, it is best to start off with one pair or two pairs, until you are more comfortable with forex trading . Later, you can trade on multiple pairs which suits you most but avoid trading more than 5-8 pairs, too many things can become a headache.
Leverage is important
in
General
Feb 08, 2021 at 12:06
Leverage is a strategy of using borrowed to control larger trade sizes. It's a double edged sword which increases the potential return of an investment and loss as well. Therefore, a good risk management is required to deal with this.
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