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Placing stop loss
v
Obecné
May 03, 2021 at 11:54
Stop loss is important for short term traders. But the real problem is where to place the stop loss. Many people place stop loss by counting pips. But to place stop loss, knowledge of support and resistance is very important.
Purpose of demo trading
v
Obecné
May 03, 2021 at 11:50
Purpose of demo is to practice. But not just random practice. With specific strategy and plans, one should practice on demo. Otherwise demo trading doesn't give any benefits.
New and undisciplined traders
v
Obecné
May 01, 2021 at 12:15
@AliaDare Yes you are right. To be successful in forex trading, discipline is very important. Discipline tells us when to trade and when to sit in the side bench. Every trader should work on their discipline.
Confidence is very important
v
Obecné
May 01, 2021 at 12:11
Yes confidence is the key to success. But some people get overconfident. Real confidence comes from knowledge and skills. If you have enough knowledge and skills you will feel confident.
Beginners Greed
v
Obecné
May 01, 2021 at 11:22
Not just beginners, even a person trading for years have greed. I have seen it. If you are not discipline about your trading, it is difficult to control your emotions.
Discipline and Forex Trading
v
Obecné
May 01, 2021 at 11:20
Discipline is the most important thing in trading. Every successful trader has this quality. If you are not discipline you will make a lot of unnecessary trades. That's why discipline is important.
Over-trading is a very harmful
v
Obecné
Apr 27, 2021 at 12:01
Overtrading is one of the reasons people lose money in the forex market. It happens due to lack of discipline and proper plans. You need to have good plans and execution of those plans. Otherwise you will keep losing money.
Is trading for living possible?
v
Obecné
Apr 27, 2021 at 11:59
Trading for living is possible but not by everyone. For this one needs good skills and experience. Great analysis skills and trading psychology is needed to make money in forex market.
Classic books about forex
v
Obecné
Apr 27, 2021 at 06:13
One book every trader should read. In trading psychology plays an important role. To understand about it one needs to read "The Disciplined Traders" By Mark Douglas. It's a real gem.
Learning is a nonstop procedure
v
Obecné
Apr 27, 2021 at 06:10
Learning never ends. There is always a scope to improve knowledge and skills. With changing market we always need to improve our skills. Read as much as possible.
How much should you invest in trading
v
Obecné
Apr 23, 2021 at 13:49
For starting one should not invest a lot. Many people think if they had big capital they would make a lot of money. But the truth is if you do not have enough skills and experience, you will lose all the money. No matter how big or small capital you invest.
Many traders think stop loss
v
Obecné
Apr 23, 2021 at 12:40
For short term traders stop loss is very important. But placing a stop loss is not very easy. Most of the time you will hit stop loss if it's not placed in the right place. It requires good skills and experience.
Some of the traders who fail
v
Obecné
Apr 23, 2021 at 11:06
Yes knowing your weakness and strength is very important in trading. If you do not know what's your weakness you won't be able to improve your trading.
There is no way to take revenge
v
Obecné
Apr 23, 2021 at 11:04
Most traders in the forex market takes revenge trades. Specially those who are not well disciplined. But revenge trade is one of the reasons people lose money in the forex market. People get desperate to recover the loss.
When a trader uses small
v
Obecné
Apr 19, 2021 at 12:50
For initial stage small capital is okay. But to make a living by trading one needs good amount of investment. But at the same time one should not invest big amount unless he is skilled enough to make consistent profit.
Forex game is not business
v
Obecné
Apr 19, 2021 at 12:47
Yes forex is not a game to gamble. It's a business that needs deep understanding and skills to get success. The earlier a trader will understand it the better for him.
There are lot of common mistakes
v
Obecné
Apr 15, 2021 at 13:26
First mistake most traders do that they think trading doesn't require much knowledge and skills. Second mistake they do - they completely ignore psychological aspect of trading.
profits in forex trading
v
Obecné
Apr 15, 2021 at 13:22
Making profit by forex trading is possible but it requires a lot of knowledge and skills. If a person is not willing to dedicate himself in developing skills he should not come into forex trading.
Don't watch market all the time
v
Obecné
Apr 13, 2021 at 12:52
Watching market can be good if you want to learn about movement of the market. But usually newbies open a lot of unnecessary trades when watch market a lot.
New traders should be content
v
Obecné
Apr 13, 2021 at 11:52
The problem with beginners that either they have been told that trading is easy or they think themselves that trading is easy. Thus they never feel the urge in deep learning.
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