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The beauty of forex trading
på
Allmänt
Oct 19, 2021 at 07:10
I think that is the biggest factor for me in Forex it is that anyone can be successful no matter where you live, how your childhood was or what job you have. It is a truly level playing field and if you can master yourself you can master the markets
Confidence is very important
på
Allmänt
Oct 18, 2021 at 07:02
Really true, i think the most important word is 'perseverance' it is about not giving up and sometimes your confidence will be low and other times high but as long as you say to yourself im not quitting youll get through it
What are good stats in Forex
på
Allmänt
Oct 18, 2021 at 07:00
It all depends on how you're trading but in general you want at least 2:1/3:1 on your trades. This gives you room to make sure you are not pressurising yourself for high accuracy. All in all, the strategy you learn will give you the right risk to reward so the 'stats' will be individual to each person. Like i aim for trades 3:1 up but i know ill have 'x' amount of percent accuracy and im fine with that but some may be scalpers and going for 1:1 and want a lot higher accuracy so the stats change per person and per strategy
Those who can't learn will be eliminated by the market
på
Erfaren Traders
Oct 15, 2021 at 07:01
Completely agree, coming in and out is very difficult to do. If you want consistent results you have to be consistent in training, learning and above all trading your rules
Making consistent money
på
Allmänt
Oct 15, 2021 at 06:59
This is so true, like dedication is the key word here. Like athletes that pull muscles, fall get knocked back they rise again because their dedication and persistence gets them there. I have had some shocking days and the worst is most have come after a run of really good days and it makes you contemplate what you're doing but its all about dedication and sticking to it. Now im consistent each set back has aided me in some way or another
Customize your strategy
på
Allmänt
Oct 14, 2021 at 06:59
This is so true. Like ive known so many that had profitable strategies and then for some reason add an extra indicator or they decide to go to another timeframe. It baffles me. If you have something that works stick with it. Otherwise why would you want to change
Emotional Trading
på
Allmänt
Oct 14, 2021 at 06:58
It really is a plan is so key as it literally just gives you a process to follow. That is key in keeping emotions at bay. The better the plan the more objectivity i find :)
Making consistent money
på
Allmänt
Oct 09, 2021 at 10:07
Very very true, everyone can have a lucky run. It is all about keeping the profits you make too that's where risk management is important with consistency
What is a robot?
på
Allmänt
Oct 09, 2021 at 10:04
It basically places buy/sell orders for you. It will give set TPs and will move it as TSL. The reasons for entry are set by the programmer/trader. It can be successful but doesn't come close to manual trading.
Risk/Reward Ration-Why you should master the Act.
på
Allmänt
Oct 08, 2021 at 07:10
Yeah completely agree. A sure fire way to know a fake guru is high accuracy and RR. 55% isnt sexy but will make you profitable
What works?
på
Allmänt
Oct 06, 2021 at 07:08
I agree, i think you have to do your own due diligence and come up with a strategy that suits you. It takes so much tweaking and even the smallest one can make a huge difference. I think the biggest is perserverance. You need to believe in yourself and believe that you will find success and not deviate from this
Risk/Reward Ration-Why you should master the Act.
på
Allmänt
Oct 06, 2021 at 07:06
Thats the ideal i think between 1:3-1:5 but you have to have the mentality to deal with the losses as the is around a 55%-60% accuracy id say. What is yours like?
How much should you invest in trading
på
Allmänt
Oct 05, 2021 at 07:09
Completely agree, like if you risk 1% of your account and you have 1000 in your account you would need to lose a lot of trades without winning one. It is key to let variance have some room and then you can focus completely on nailing down your entries and all the other important things. It is so key to make sure you're comfortable in a trade that when it goes into DD you are not getting nervous at the red number. It is a skill to learn but can definitely be learned
The less complicated trading system
på
Allmänt
Oct 05, 2021 at 07:07
Completely agree small losses are so key, i suppose it reverts back to good risk to reward and having the discipline to follow your rules not only for entry but for risk. If we can do that i think profitability is only around the corner
No alternative to learning
på
Allmänt
Oct 01, 2021 at 06:52
Completely agree. Some want the success right away and don't want to do the work. Its like a doctor doing 6 months of college and expecting to be given a scalpel
Market updates 7th July 2021
på
Allmänt
Oct 01, 2021 at 06:51
for sure the swings are a lot more volatile that is also due to the lower amount of liquidity so there isnt much resistance either way. This week has been much more liquid so interesting to see how NFP reacts this month
Manual trading
på
Allmänt
Sep 29, 2021 at 14:50
I think so too. Its key for you to understand why a trade is been taken if you dont you will find it hard to succeed with a bot
Forex is not like gambling
på
Allmänt
Sep 29, 2021 at 14:49
Agree with this but also its probability with the math in our favour. We have a statistical edge once it is played out over a number of trades we will be up. Similarly big betting companies arent 'gambling' they know in the long run they will be profitable due to statistics
Which forex platform we can consider for demo trading?
på
Nya Handlare
Sep 27, 2021 at 07:03
I use my my broker cedarfx's demo accounts. Can have as many as i like so i can test out plenty of strategies
Undercapitalisaton
på
Erfaren Traders
Sep 27, 2021 at 07:01
Definitely shouldnt use huge demo. The purpose of a demo is to trade your strategy your capital and your emotions and then go live. If youre trading with a 200k demo and have 500 starting capital itll do you no good imo
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