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HeavLeighGill26
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Posts by
HeavLeighGill26
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modern economy crumble. what will happen next?
in
General
Sep 02, 2021 at 03:17
I keep hearing rumors that we’re about to go into another lockdown in the US, not sure if it’s true but hoping not as it will definitely have another negative impact on the economy. Just helping to put small businesses out of business while mega corporations keep all the profit for themselves. I’d expect this to have ripple effects if it does happen.
Not gambling
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General
Sep 02, 2021 at 03:14
Trading feels much safer to me than gambling since decisions can be based more on factual evidence. I know there is still guesswork involved but resources can help us to double check and those that understand the markets have more chance of success.
90% are loser ..why ?
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New Traders
Aug 19, 2021 at 02:26
People don't want to stick with it once they realize that it's actually difficult. I think in a lot of cases influencers convince them that they'll have lambos and women hanging off their arm and romanticize it to draw them in....then they blow their accounts (usually because of a lack of knowledge) and move on to the next thing. Others get attracted because they want to give themselves or their family a better life so they have good intentions but just don't know what they're doing. If people spent more time educating themselves and practicing before jumping in, I think th...
Newbie wannabe Trader
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New Traders
Aug 19, 2021 at 02:23
I would take a step back from trading on the live account since it's losing money for you and come back to that. Spend more time online on forums like this one and try YouTube, Babypips, and other learning sites as well. Take an in-depth look at your current strategy and whether it's working. Practice any changes on demo account and then go back to trading live. It could also help to keep a trading journal to help stay on top of what is and isn't working. Good luck, I hope things improve!
Is demo trading enough before real account?
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New Traders
Aug 19, 2021 at 02:18
Demo accounts are helpful when it comes to learning the mechanics of trading and testing strategies. Not so much when it comes to the psychological or money management parts of trading. I think it's crucial to trade on a demo, but keep in mind that you could start to feel anxiety, greed, or other emotions once you go live. Also, the demo doesn't teach effective money management since you can just have it topped up, but I've read suggestions that say you can try giving yourself real world consequences to make the demo account results feel more realistic and so that you'll take i...
Arrogant advice
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New Traders
Aug 19, 2021 at 02:14
You gotta invest money to make money. My family spends around $80 a week eating out and we buy our kids toys weekly and pay for other extra things, so why not put something towards something that could actually make you more money? I think it's silly to never try to find other sources of income but I do understand that a lot of people lose money doing this. Also know that a lot of those people don't really know what to do and they think this is an easy way to make money.
Which Spreads ?
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New Traders
Aug 19, 2021 at 02:11
Every fixed spread broker I've ever looked at had spreads that seemed way to high, so I always favored floating spreads.
Which forex platform we can consider for demo trading?
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New Traders
Aug 19, 2021 at 02:08
I'd also say MT4, it's my favorite and seems to be the most popular.
New Forex Trader Here
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New Traders
Aug 19, 2021 at 02:07
Hi! I'm pretty new to this forum as well. Wishing you luck!
Transitioning to higher leverage
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New Traders
Aug 19, 2021 at 02:06
There's a saying that gets thrown around a lot..."leverage is like a double edged sword". There's nothing wrong with going higher and I've actually read articles stating that several professional traders say they use 1:100 leverage so that seems to be a good amount. Just be careful!
Can you become millionaire through expert advisors?
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New Traders
Aug 19, 2021 at 02:01
I wouldn't want to be completely dependent on an EA but I do think they can be profitable. The main obstacle is to find one that works for a good price.
Any crypto traders in the house?
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Crypto
Aug 19, 2021 at 01:58
I trade crypto from time to time! Currently do so through my broker because they have pretty low prices (compared to what else I've seen but then again I'm no expert) but it does seem to be a fairly lucrative option.
Bonus and broker
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New Traders
Aug 18, 2021 at 16:07
I’ve read so many complaints from people trying to withdraw the funds they made with bonus money. People don’t read the terms & conditions most of the time for these sorts of things so it seems like a really good offer at first but usually is a lot more difficult to withdraw and everything. I do think there are legit brokers with good bonuses out there, but always avoid the too good to be true schemes. Bonuses are also a distraction for crappy brokers so that you don’t notice that they have bad terms. It’s easy to say that you want to open an account with a brok...
any beginners ?
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New Traders
Aug 18, 2021 at 16:03
I’ve only been trading just over a year so I’d consider myself a beginner if anyone wants to share ideas
Newbie problem
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New Traders
Aug 18, 2021 at 16:02
That’s true. I think a lot of beginners skim the details and rush to open an account with little to no demo practice or education. People think it’s so easy and then just get bored of it when they realize how much goes into it.
lost
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New Traders
Aug 18, 2021 at 15:39
It can be totally overwhelming in the beginning but stick with it and don’t give up!
FX Trading Tips
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New Traders
Aug 18, 2021 at 15:38
Good tips! I think you mentioned some of the most important factors for each category.
Overconfident
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New Traders
Aug 18, 2021 at 15:37
True. Doubting yourself and being too full of yourself can both wreak havoc on trading profits. I’ve experienced both. At first I was overly anxious and headstand, which caused me to lose out on a lot. Once I got better at trading I got a little too comfortable risking too much and lost a good bit, which was enough to humble me. I think the best traders find the balance between the two.
Regulated broker vs. Unregulated broker
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New Traders
Aug 18, 2021 at 15:34
Most people are going to say to go with a regulated broker because it’s safer. Generally it is, but there do seem to be some cases where it’s better to go with an unregulated broker. Countries with stricter regulation laws would be an example, as they may not have many other options. I’ve opened an account through an unregulated broker before and never had any issues, but I do realize that I could have just gotten lucky in choosing one of the best ones out there. Just be sure to do a lot of research if you do go the unregulated route.
Why not trade your own money?
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New Traders
Aug 18, 2021 at 15:31
Wouldn’t want the stress - I’m also careful when giving friends that are newer to trading advice. Always remind them that I could be wrong because I don’t want to be partly responsible if they lose. Still, I’m sure someone who is really good at it probably doesn’t stress as much and the money probably does add up.
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