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Pros and Challenges of Trading Forex
v
Obecné
Sep 26, 2020 at 11:50
Yes forex market is the biggest financial market on earth. But only 5% to 10% people are successful in trading. It because it requires specific knowledge and skills to make profit. So every newbie should remember that they need to focus on sharpen their skills.
Greed is dangerous
v
Obecné
Sep 25, 2020 at 11:57
Greed is the most dangerous emotion for trading. Most of the traders lose money just because of this greed. And there are s trader who is mistaken greed as hope. Greed is when you have no trading plan. You trade all day long. After a profitable trade, you open another trade in the hope of making money. But we should control our greed if we want to stay in the market and make profit for long.
Why day trading is better than long-term (Opinion )
v
Obecné
Sep 25, 2020 at 11:50
I think it's all about what what you understand the most. In day trading it's more fun as everyday we can trade and profit or loss. But whatever the style one must master the art of trading to be profitable.
Defination of a Good Trader?
v
Obecné
Sep 23, 2020 at 12:43
A good trader is very discipline. Discipline is the common quality among successful traders. Strategy may vary from trader to trader but discipline is common among them. Also a good trader can control his emotion and can make regular profit.
good opportunity
v
Obecné
Sep 22, 2020 at 13:14
Forex trading can be a very good opportunity but only if you are willing to study a lot. It requires professional skills to be profitable. People become restless when they come to forex. They start expecting unrealistic profit but not ready to invest time to learn.
importance of skills
v
Obecné
Sep 22, 2020 at 13:11
Skill is the only thing we need to get success in trading. Market analyzing skills and emotions control skills both are needed. And it takes time to get those skills. So there is no short cut to make money in forex. It seems easy but it's not.
how many pips a year do you need to make ?
v
Obecné
Sep 20, 2020 at 12:09
You need consistency. You do not need to count pips or make such yearly target. If you can make consistent profit, eventually you will make a lot of money. We should focus on developing our skills. The more skills we will have the more money we can make.
Successful trading
v
Obecné
Sep 20, 2020 at 12:05
Successful trading is not just about a good strategy. You have to understand the market emotions. Risk management and mind control is the key. It takes years to be discipline in trading. We also need patience to be successful.
Following other's trade ideas
v
Obecné
Sep 19, 2020 at 13:51
I do not think that it is a good idea to follow others trading idea. It makes us confused. And sometimes greedy also which is very bad for trading. The best idea is to find out what suits you. Which type of trading is best for you. Then make a strategy that suits with your trading personality. Forex is a long term business. So we can't stay long by following others.
Why demo is easy?
v
Obecné
Sep 19, 2020 at 13:49
You do not have to worry about losing your money when you are demo trading. your demo account does not demonstrate to you industry standards to manage the sentiment fear. That's why you remain emotions while in demo. But when you come to live trading from demo trading, you brings emotions (the fear of losing and greed more more profit) with you. That's why the result between demo and real account is not the same.
Good broker is needed
v
Obecné
Sep 18, 2020 at 13:01
A good broker is a broker which constantly guarantees their clients deposit with a broad assortment of trading advancements. Moreover, any kind of good broker does not limit any sorts of trading methodologies with scalping and supporting. They for the most part ensures best trading condition for using any trading frameworks by giving low trading spreads.
What requires
v
Obecné
Sep 18, 2020 at 12:58
Forex trading requires specific knowledge and skills. And you can't get that without learning and practicing. Trading is easy but learning process is long. You have to give time to learn the strength of trading.
Higher Time Frame.
v
Obecné
Sep 17, 2020 at 11:53
Higher time frame is good for newbie. Most newbie try on lower time frame and do scalping. But for scalping you need good skills to juice pips from noise market. I would suggest to newbie focus on higher time frame. Don't open too many trades.
Free Knowledge
v
Obecné
Sep 17, 2020 at 11:49
Thanks for your initiative. Hope you will keep your integrity. Newbie also should know that it takes time to get skills. It doesn't happen with a few months study. You can't get profit just by learning how to use some indicators. It takes years to be skilled.
care free mindset(proper risk)
v
Obecné
Sep 15, 2020 at 10:08
You have to find that strategy by your own. It's not possible by following other's people strategy. You have to take time and test your strategy over a period of time to find out winning percentage, risk reward ratio.
having a losses
v
Obecné
Sep 15, 2020 at 10:04
To overcome this issue you need to know what you are doing. As Warren Buffett said, Risk comes from not knowing what you are doing. If you know your strategy, winning percentage, risk-reward ratio properly, you will not react to any loss. Because you know you will recover it.
You need sound mind
v
Obecné
Sep 13, 2020 at 14:35
Yes mind is very important when it comes to trading. We need the ability to control our emotions. Fear and greed always control us. Most of the trades we open out of fear or greed. We need a mental discipline to control our emotions.
No strategies can help you unless
v
Obecné
Sep 13, 2020 at 14:33
Yes you are right. We need to customize the strategy according to the changing market scenario. Success of strategy also depends on how we use it. Most people do not use the strategy properly. They want to open trade if the strategy is not giving any signals.
I NEED A FOREX GROUP
v
Obecné
Sep 12, 2020 at 12:17
Sharing trade ideas can be very destructive. You can form a group for study purpose but for trading not a good idea. Every person is psychologically different. And trading is more of a psychological. By seeing others trade ideas will hamper your own judgement. It will make you confused.
Are there secret forex strategies in the forex market?
v
Obecné
Sep 12, 2020 at 12:14
The secret of forex trading is you have to learn the market. You have to understand the mechanism. Following a strategy blindly is not going to help us. Whatever the strategy you have to understand it fully. Only then you will make profit.
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