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You don't need to be
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Jul 06, 2021 at 13:52
@LukeRachel Yes it's the managing the risk that makes a difference between good trader and bad trader. Bad traders are over confident and don't follow any risk management policy. Good traders are the opposite.
Indicators are reliable but
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Jul 06, 2021 at 13:50
@lilliemorris Yes to find the right indicator is not an easy task. One needs to do a lot of trail and experiments to find the right indicator for him.
Money management is extremely important
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Jul 05, 2021 at 12:39
Yes without proper money management, no one can survive in the market. One may get initial success but that's not the end. Newbies should focus on money management from the beginning.
What works?
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Jul 05, 2021 at 12:36
Market doesn't follow rules all the time that's the reason a trader should follow rules. He should be disciplined. He should know when to trade and when to sit in the side bench and observe.
Not gambling
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Jul 05, 2021 at 08:01
@UweMoench People do gambling because they do not know how to make profit without doing gambling. That's why we should focus on developing skills.
When loss occurs
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Jul 05, 2021 at 07:57
@jonathandaniel Yes getting attachment to the trades make us emotional. This emotion doesn't let us close any trade if it goes against us. We should try to as much as logical.
We should not think
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Jul 05, 2021 at 07:45
Unrealistic profit target is one of reasons people blow out their account. In no other business, people expect to make 100$ into 200$ or 300$ in 2 days.
All the successful traders
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Jul 05, 2021 at 07:43
@AliaDare Yes discipline is the only common thing we can have. Every person thinks differently. But when it comes to be disciplined, everyone has to follow it. Otherwise consistent profit is not possible.
Bonus is not that much important
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Jul 04, 2021 at 10:37
Yes most bonus are just bogus. There is nothing for a trader. But yes you can experience real trading environment with no deposit bonus. But deposit bonus is no use.
scalping anyone??
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Jul 04, 2021 at 10:35
I do scalping sometimes but not always. Newbie should not do scalping as it requires good skills. Also scalping can ruin a newbie's trading habit.
Forex trading offers high leverage
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Jul 04, 2021 at 10:17
Due to high leverage, people can trade with small amount. At the same time it's one of the causes of losing money in forex trading.
newcomers trading habit
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Jul 04, 2021 at 10:15
Our total risk should not be above 2%. Now it could be 2% in a single position or all the open positions. Some traders take 2% risk per trade then open 5 trade which becomes 10% risk. We should not do this type of mistakes.
There are lot of common mistakes
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Jul 02, 2021 at 12:47
@LukeRachel Technical analysis is needed but along with analysis we need a good mindset. A mind that can control emotions and stay away from unnecessary trades.
All the successful traders
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Jul 02, 2021 at 12:45
It takes time to be profitable. But the sad thing is most newbie thinks three to six months demo trading will do the tricks. And when they realize it's too late for some traders. Trading is a skilled based job. You can't do it without being skilled.
How long it takes to learn
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Jul 02, 2021 at 12:36
@jonathandaniel Yes it depends on learners. Everybody has a different learning capabilities. Also it varies from subject to subject. But the fact is it takes time to be skilled enough to make money consistently.
Forex is a decent business
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Jul 02, 2021 at 12:33
Trading is easy only if you have good knowledge, skills and mental capabilities. It's designed in a way so that not everyone can make money. Most people want to make money here with least knowledge and skills.
Patience is best tool to get success
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Jun 30, 2021 at 11:41
To improve patience we need to be realistic. When it comes to forex trading, people become illogical. They want multiply 100$ in a day. Market moves all the time doesn't means all the pips are yours. Be realistic and treat it like a normal business.
To be a successful trader
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Jun 30, 2021 at 11:39
@marshallbuchanan yes you are right. Along with patience, one should focus on learning the skills. Unfortunately most people focus on earning and lose money.
How much should you invest in trading
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Jun 30, 2021 at 11:04
@williearnold With 10$ capital and 1:10 or 1:20 leverage trading is not possible. To open a .01 lot, it requires 1000$. So 10$ (capital×10(leverage)=100$. Initially a newbie can do trade with 100$+ investment to learn proper money and risk management.
Indicators are reliable but
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Jun 30, 2021 at 10:46
Price action with the combination of indicator can a good trading strategy. But you need to find the right indicators that you understand the most.
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