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CraigMcG2020
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CraigMcG2020
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When to stop.
in
General
Nov 19, 2021 at 08:19
Very true, you need to set your stop loss so it is a positive RR over a nice sample of trades. A trader who hits stops consistently more but has a better RR will be more successful than a person who has one stop hit and neg RR
Is forex trading really worth it?
in
General
Nov 19, 2021 at 08:17
Really solid post, there are many ways that people money and have varying goals. Even if its to get better interest than a bank is giving you then its worth it
What should be the risk percentage?
in
General
Nov 17, 2021 at 08:22
1-3% is ideal as according to probabilities in 10000 trades you will have a run of 13 straight losers. Now that may seem like a lot of trades but if you're in this for the long haul you'll hit that and also there is no way to determine when they will come so could come at the beginning of your career
Bonus and Brokers
in
General
Nov 17, 2021 at 08:19
I would stay away from bonus brokers personally, your capital gets tied up in the bonus and you have wagering requirements before the bonus is released and all this time you could be using your own capital to make money
Is demo trading enough before real account?
in
New Traders
Nov 16, 2021 at 08:34
I agree, it absolutely gives something to new and experienced traders. It is key to use it when you want to tweak a strategy or learning a new one. It is not the full answer to successful trading but makes a big difference imo
Does bitcoin still holds stronger than stocks?
in
Crypto
Nov 16, 2021 at 08:32
It can be and has the potential no doubt but there will be a few bumps in the road coming for sure. Its still definitely a long term position hold imo whereas stocks can be shorter term
Scalping is good
in
General
Nov 13, 2021 at 14:54
For sure scalping can be hard but once again you need to choose a style that suits your personality. I personally like it because i dont mind losses and small profits others this doesnt sit well with them but i dont like swing trading as the movement uneases me over weeks and months. So key to align your strategy with your mentality
The best EA
in
Strategies
Nov 12, 2021 at 07:57
Agree, i used to use EAs but you realise how powerless you are once you have an EA in serious drawdown and you're at the will of the markets. There's a reason there are still trading floors and traders around the world. If EAs worked everyone would be doing it
Trading without stop loss
in
General
Nov 11, 2021 at 07:53
Stop losses are essential. They give you clarity on whether your strategy is working and also stop blow outs. Every single trader will be wrong at some point and you want to be wrong small not big. No stop loss could wipe out days or weeks worth of profit
Fundamental stuff
in
General
Nov 08, 2021 at 13:02
Id only use fundamentals to know when to stay out of the market rather than informing a trading decision unless its a long term position trade :)
Why demo is easy?
in
General
Nov 08, 2021 at 13:01
So true, some of the harder battles are in the mind than on the broker. It is key to try live accounts too even if its for a small amount
Forex market is an unpredictable
in
General
Nov 04, 2021 at 08:12
exactly and when we're dealing with probabilities we dont know if our next trades will be winners or losers but we do know if we have a mathematical edge in the long term we will be successful
Strategy and Forex
in
General
Nov 04, 2021 at 08:10
Me too, it took a long time for me to tweak a strategy that is in line with my psychology and comfort level in risk and also holding time. Its a process many leave before even starting
How much should you invest in trading
in
General
Nov 02, 2021 at 08:08
That's asking how long is a piece of string. You need to put as much work in as possible to get where you want to be. There is no time for the same person
GBP/USD LONGS HEIGHTEN DOWNSIDE RISKS.
in
General
Nov 02, 2021 at 08:07
There is massive news coming for GBP and also USD this week. This is going to be a very volatile one i think
Demo can not make you well experienced
in
General
Nov 01, 2021 at 07:51
Demo trading definitely serves a purpose but you're right in that it is not like live trading. Watching ticks go against you tests your mental strength and ability to trust in the strategy that demo cant give you. But experience is so key and that will resolve most issues like that
Basic mistake we make
in
General
Nov 01, 2021 at 07:50
This is exactly it, even professional traders don't think about the money. They think about the process and the money is secondary. Trade well and you will make money as a consequence
any broker suggestions for NZ?
in
General
Oct 25, 2021 at 11:36
IC markets are solid and so are CedarFX. They're my two atm
No one should depend upon luck
in
General
Oct 24, 2021 at 16:49
Luck doesnt matter at all. It isnt gambling if you have an edge and follow rules you will be successful
How much should you invest in trading
in
General
Oct 19, 2021 at 07:11
thats the way to go for sure. Like you need to be comfortable with the amount you lose on each trade other wise you will intervene on a good trade or cut a trade going well because the amount is more than you expected
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