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HeavLeighGill26
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HeavLeighGill26
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What is your Hobby ?
em
Novos Negociantes
Mar 01, 2022 at 17:21
Right now I'm working on starting an Etsy shop and making wreaths & other handmade items to sell for extra income. I enjoy doing that.
Which pairs are your least favorite to trade? And why?
em
Novos Negociantes
Mar 01, 2022 at 17:20
I stay away from exotic pairs and stick to major currency pairs for the most part.
Learning Forex Trading
em
Novos Negociantes
Mar 01, 2022 at 17:19
Depends. Some brokers will allow you to open an account with $5 but I'd suggest depositing a lot more than that.
What makes a good MT4 broker????
em
Novos Negociantes
Mar 01, 2022 at 17:17
Personally, I look for low costs and want to have access to multiple assets, including an impressive listing of cryptocurrencies.
What is Pip ?
em
Novos Negociantes
Mar 01, 2022 at 17:12
I see that there are already several explanations with the answer to your question, but I wanted to point out that the Babypips website would probably help you out. They have a lot of content that focuses on beginners. I also was confused about pips at first but the site explains things in a way that is easy to follow.
What do you expect from a broker?
em
Novos Negociantes
Feb 03, 2022 at 16:11
I start by checking their website to make sure that it's transparent and that I can find all the information I need easily. Then I check costs including spreads, commissions, deposit/withdrawal fees, and look through their terms & conditions to see if there are any hidden fees for account maintenance, inactivity, etc. Next, I make sure they have a good selection of assets for trading and use a platform I like. Finally, I make sure that they have easy to reach customer support. If they offer LiveChat, I always test it out because some brokers advertise this when you can really only ...
Can you borrow money from the bank to trade forex?
em
Geral
Feb 02, 2022 at 18:13
I wouldn't ever borrow money to trade. You already have to pay that money back with interest (which is usually quite high), and if you lose it then you're basically paying back double the money plus interest. If you only trade what you can afford to lose, at least you don't owe if you lose it all. I'd rather trade with a smaller amount of capital than to take that chance.
Choosing the Right Broker
em
Geral
Feb 02, 2022 at 18:10
I think one sign that you're looking at a good broker is evident if they have a transparent website. You should be able to learn all about their account types, available leverage and what assets they offer for trading, how much their minimum deposit is, the cost of fees for withdrawing, commissions, and spreads, how long it takes to withdraw money, methods that can be used for funding, terms & conditions surrounding bonuses, and so on. If you can't find it on their site, they are likely hiding somethin. You should also try to contact their customer support team because some bro...
What do you learned while trading?
em
Geral
Feb 02, 2022 at 18:06
I think you made a lot of good points here and these are things that all new traders should hear. It takes hard work and there will be setbacks and losses but the way that we handle that and learn from it is what can keep us going towards success. Good traders never stop learning and never make the mistake of thinking that they know everything there is to know.
Greed, the destruction
em
Geral
Feb 02, 2022 at 18:03
Very true. I kind of had the opposite problem because I struggled with anxiety in the beginning, but I see a lot of beginners that are looking to rush into it wanting to take big risks and get big rewards. A lot of them quit when they realize how much goes into it out of laziness.
Consistency is the brick
em
Geral
Feb 02, 2022 at 18:01
Definitely agree on this one. Consistency is key.
Forex Amount
em
Geral
Feb 02, 2022 at 18:00
I definitely think beginners should start on demo and remain there until they're bringing in consistent profits. As for the minimum to start with, I'd say that depends on what the person is comfortable with. Micro accounts can be great starter accounts but some brokers also offer very low deposit minimums in general. I started on a 0 commission account that only required a $10 deposit, but I started with a bit more than that.
importance of skills
em
Geral
Feb 02, 2022 at 17:55
It takes a lot of time to get there and many of us make a lot of mistakes that we have to learn from. Overall, time can help mold us into better traders as we learn and get the hang of it.
You need sound mind
em
Geral
Feb 02, 2022 at 17:54
I think a lot of us get blindsided by the emotional aspects of trading, especially since demo accounts don't really prepare you for it. Suddenly it's a lot harder to stick to your plan when real money is on the line, but it's crucial to get past that.
To shine in forex
em
Geral
Feb 02, 2022 at 17:52
It takes a lot of self-discipline to be successful. If you give into your emotions, you'll inevitable wipe out your account.
Which is the best broker for tick scalpers ea's
em
Geral
Feb 02, 2022 at 17:50
I know that CedarFX and Eightcap are both supposed to be good for scalping. You could try opening a demo account through either of them.
How much Important of Leverage for Trading
em
Geral
Feb 02, 2022 at 17:49
Leverage can help you out but a lot of beginners look for very high leverage and it's often referred to as a double-edged sword for this reason. A lot of experts stick with 1:100 but to each his own.
Any 500 to 1 leverage brokers left?
em
Geral
Feb 02, 2022 at 17:46
It can be difficult to find if you only look at regulated brokers, but there are options as far as unregulated brokers go. I know LonghornFX goes up to 1:500 and has a lot of crypto options, but can't think of any others off the top of my head at the moment.
Luck is important
em
Geral
Feb 02, 2022 at 17:45
It really comes down to your decisions, but I often wish other traders luck regardless. Some may believe in it and others don't, but I do think luck comes more into play with gambling.
Believes.
em
Geral
Feb 02, 2022 at 17:43
True. The whole point is no longer allowing emotion to interfere, so traders should keep with the 'set and forget' mindset.
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