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For trading you do not need
em
Geral
Nov 19, 2021 at 04:34
It’s true many traders only spend a few hours and still earn more than the ones who keep themselves glued to their screens all day long. It’s not about how much time you spent trading but how well you utilize that time. Whatever time you spare for trading, you should do your homework and know how the market behaves during those hours, which currencies are more profitable to trade, etc.
Fear makes you
em
Geral
Nov 19, 2021 at 04:23
When anyone starts out on a forex venture, he must know that forex trading is a risky affair. If you are fearful of taking any risk, you shouldn’t start at the first place and now if you’ve started, keep yourself open to the risk. Fear can make you lose countless opportunities and you’ll overthink even a clear opportunity. It’s not possible to avoid risk but you can control it to some extent by:1. Not risking more than your tolerance.2. Not opening too many positions at once.3. Using stop loss.4. Keeping the account size smaller.5. Building a trading plan and maintainin...
Investing in Forex
em
Geral
Nov 19, 2021 at 04:09
Forex investment is not like any other investment where you put the money and expect the price of that particular asset to go up. In forex, you invest the money for trading and buy the currency pair if you think the price of the base currency will increase against the quote currency and sell the pair if you think the price of base currency will lower.
Is forex trading really worth it?
em
Geral
Nov 18, 2021 at 04:41
Every trader goes through this phase when they are forced to think whether it is worth the effort or not. I believe whoever survives through this period surely gets successful because forex is a place where you’ll get countless opportunities. It’s up to you how well you utilize them. Just don’t have too many expectations and work on making yourself a better trader and everything will fall into place eventually.
Undercapitalisaton
em
Negociantes Experientes
Nov 18, 2021 at 04:35
I think when it's about learning and adjusting yourself to live market conditions, low initial capital is perfect. However, when you have practiced enough and want to bring in substantial profits it’s important to invest a sufficient amount of money in your trading account.
Do you use Daily or Weekly Max Loss?
em
Negociantes Experientes
Nov 17, 2021 at 05:16
For me, it’s about the risk percentage on every trade. I don’t prefer to take numerous trades and my standard risk percentage is 1.5%, although I adjust it before every trade where I think I should risk more or less.
Can you leave Forex Trading?
em
Novos Negociantes
Nov 17, 2021 at 04:47
Not really. My goal is not to become a billionaire or get rich really soon. I am here because I want to live a better lifestyle without having to work hard day and night just for a few bucks. Forex trading can provide me flexibility to work so I am not going to quit it anytime soon. As I am not keeping any unrealistic expectations, I hope I’ll be able to survive the market because that’s my only goal right now.
Getting so much confused with the terms. Please, help.
em
Novos Negociantes
Nov 17, 2021 at 04:27
These little unique words in forex trading convey a lot of information and it’s strange how it becomes impossible to trade without the knowledge of these basic terminologies. I remember how these words sounded alien to me when I was a beginner and now it has just become a part of my vocabulary just like any other trader.
What works?
em
Geral
Nov 16, 2021 at 05:45
Every trader is unique and so is their journey in the forex market. A trader might have their own different style of doing things but still there are few things which are common and work for all no matter how you do it.It involves practicing, capital preservation, following a trading plan, maintaining a trading journal, keeping a positive mindset, being disciplined, using risk and money management techniques.
How to increase trading skills ?
em
Novos Negociantes
Nov 15, 2021 at 08:05
The only way to hone your trading skills is through practice. There is a huge difference between knowing something and being able to implement it. Only with continuous practice, a trader can find out his trading behaviour, what works for him, what needs to be fixed and what not.
New in forex trading
em
Novos Negociantes
Nov 12, 2021 at 06:03
@Sofie_Andreasen The common trait of scammers is that they will promise ridiculously high returns. It’s crucial to do proper research before committing to any expert advisor and always backtest it on a practice account. The performance of an EA on a demo account will show you if it’s suitable to use in the real market conditions or not.
How much should you invest in trading
em
Negociantes Experientes
Nov 11, 2021 at 06:14
One should only invest the amount they can manage comfortably. It’s advisable to start small and find out your limits.
How to answer what do you do for a living?
em
Negociantes Experientes
Nov 11, 2021 at 06:06
These replies made me realise that I am not the only one avoiding this question. Only my family knows that I trade currencies and they think of me as nothing more than a bit of a reputed gambler. Thank god I’ve another job so I just don’t need to tell anyone about my trading career.
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