Do not make this mistake. It's quite impossible to get success in forex by following others trading buy sell tips. You need to learn the art of trading if you want to stay long in the market. Forex is very easy if you are knowledgeable and skilled.
Thank you for your writing. Risk comes from not knowing what you are doing. Most people come to forex trading without the intention of learning. They come to make money just by trading. They forget that it's the skills that make moeny.
Yes, for trading knowledge is very important. It makes us more powerful trader. But knowledge becomes power only when we can apply can it. To apply knowledge, discipline is important. The more knowledge you will acquire the expert you will become. To cope with the market there is no alternative...
Yes you are right. Finding a successful strategy is very difficult task. Actually it's a long process. You need knowledge and patience. To find a perfect strategy you have to follow trail and error method. Research, study and back test can help you to find the best strategy.
We can not plainly say stop loss is good or bad. It depends on your strategy. If you can manage your risk without using stop loss, then stop loss is bad for you. I personally use stop loss. My strategy allows me to use stop loss.
Yes trading depends on plan and patience. But there are more important thing. Knowledge and skills are the most important. Then come how well you can manage your trading emotions. People lose money due to lack of knowledge and emotional decision. Trading is combination of all these things.
I only use price action for my analysis. My charts are clean. Only some support and resistance line. Yes I use only one indicator that is Volume. Actually every person is different. So we can't say what is right or what is wrong. It's all about what works for you.
There is no such thing. Trading time depends on the traders. Every trader has his own specific trading game plan. For me I for the most part trade in New York time session. I find this session more liquid than various sessions. Usually I follow my checklists and start to see the charts. If I...
Don't treat forex as gambling. Learn how to be disciplined. Control your emotions. Learn how to accept loss. Most Importantly increse your knowledge and skills. Without being skilled success is not possible.
Forex trading robots are made by programmer on the basis of given strategy. And there is no strategy that work in all type of markets. You need to up date your strategy according to the market situation. When you use someone else robot, you are just blindly following someone. Robot is good if...
Hello Fxlaura. Welcome to the forex world. You are in the right forum. My suggestion to you is make yourself skilled. Do not chase for profit or strategy. You will find a lot of online resources for your learning. Always remember forex trading requires specific knowledge and skills. We just...
Psychology plays a big part in forex trading. In trading 90% is psychological and rest are technical and fundamental. So if you want to tune yourself up as a forex trader, I would suggest you to learn trading psychological. What is called psychological analysis. It involved being discipline in...
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