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Patience is best tool to get success
in
New Traders
Jun 07, 2021 at 06:52
Patience is the most important thing in trading. We don't want to wait for a good trade set up. We force ourselves to open trades. As a result we open bad trade.
Have a plan and stick to it
in
New Traders
Jun 07, 2021 at 06:51
To make a good trading plan we need to know our strength and weakness. A trading plan should be based on strength. Most people ignore their weakness and try to trade in all kind of situation. It's not good.
how to become a forex market conqueror
in
General
Jun 07, 2021 at 04:18
Of course trading is hard. Trading is a high rewarding work. High reward doesn't come easily. A person needs deep knowledge and understanding of the market to be profitable. He also needs very strong mind set.
Beginners Greed
in
General
Jun 07, 2021 at 04:17
Emotion plays the important role in trading. Not just newbie most traders do not have emotional stability when it comes to trading. Fear and greed overpowers them. That's why it's very important to learn how to control emotions..
Stop Loss Importance
in
General
Jun 07, 2021 at 04:04
Placing stop loss is one of the difficult tasks in trading. So many things to consider. Your trading style, risk tolerance capability and good knowledge about support and resistance levels are important to place a stop loss.
Most people fail because
in
General
Jun 07, 2021 at 04:03
Losing money is very normal in forex trading. It's about how a trader manage his loss. It's not possible to be 100% right all the time. We need good risk reward and winning ratio to do well in trading.
What happens when demo accounts expire ?
in
General
Jun 06, 2021 at 10:58
Yes demo is important. We can't test a strategy on live account to know how the strategy works unless have enough money to loss. It's the demo where we should test any strategy first. If it gives good results in demo we can try on live.
Whats Dominan Your Strategy ?
in
General
Jun 06, 2021 at 10:56
Most traders think that a holigrail strategy can give them constant profit. But there are more important things like Psychology and risk management. Good trading is the combination of all these. You have to learn all the skills. You can't ignore any of them.
Staying peofitable consistently
in
General
Jun 06, 2021 at 06:46
It is possible to be benefitted from losses if we can it as a lesson. Every loss is a lesson. Traders use journal to keep track of their past trading mistake so that they can learn from their mistakes. Learning from mistakes is the best learning.
What requires
in
General
Jun 06, 2021 at 06:45
Before mastering any system, a trader needs to know various types trading of methods. Then from all those methods, he should pick one that he understands the most. It's a long process. It takes years to get the edge.
Leverage
in
New Traders
Jun 06, 2021 at 06:37
Leverage just gives us buying power. It's the skills that need the most to be profitable in scalping. A trader needs to understand the market very well to become successful in scalping.
Without skills trading
in
General
Jun 06, 2021 at 06:34
Without enough skills and experience, it's normal to lose money and get scared. Whether new or old, we are bound to lose money if we don't understand the market and follow discipline.
Money Management Tips
in
General
Jun 05, 2021 at 10:27
Money management in forex trading is very important. But unfortunately many traders don't bother about. Out of overconfident and greed, they do not follow proper money management.
Should anyone give up?
in
General
Jun 05, 2021 at 10:21
It varies person to person. Not all business is suitable for everyone. If you think forex is not suitable for you, you can give up. Some people can't take emotional stress.
New and undisciplined traders
in
General
Jun 05, 2021 at 06:59
Number one biggest mistake new trade commits is they treat forex trading as a money machine. Open trade and make profit. They think it is the easiest job in the world. But in reality you need profound understanding of the market. My advice to new trader is gain necessary knowledge and skills.
There is no short cut
in
General
Jun 05, 2021 at 06:57
Yes there is no shortcuts for success in the forex market. Some people think there is a holi grail. If he finds it, he will be rich. But it's the skills that matter.
If the open trades are locked...
in
General
Jun 04, 2021 at 15:19
@LyudmilLukanov That's why we need adaptability skills. We also should know when to trade and when to just observe the market. No strategy can give you trade set up everyday. We force ourselves to open trade.
To manage risk reward ratio
in
General
Jun 02, 2021 at 13:17
Having a good risk reward ratio is important. But unfortunately most traders do not know if they have any risk reward ratio. They trade randomly. As a result they can't manage their risk.
Exotic pairs.
in
General
Jun 02, 2021 at 12:29
Exotic pairs moves a lot. For newbies it's not a good idea to trade exotic pair. With lot of experiment you have to find out what pair suits you. Not everyone likes same pair.
Staying peofitable consistently
in
General
Jun 02, 2021 at 10:38
Making money consistently is the key. This is where everyone struggles. It happens due to lack of enough skills and experience. Traders should focus on developing skills.
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