Hello Lens, welcome to the platform. The community is quite active, and definitely helpful and friendly. Feel free to ask any question you have regarding trading on the forums.
Nice post. Scams are very common these days and forex traders must be very careful. Most of the time, the scammer is promising a good, completely automated system. They find out when they get the system. The scammer took the money and left them with nothing. If you want to protect your funds...
Forex trading is a great career option for those who can work hard for it. There is nothing like a get-rich-quick scheme and anyone trying to make money through forex must know that buying and selling currency pairs is not as easy as said. Forex trading is complicated and risky too. You will get...
Great post indeed. When trading forex, you really need to define your risk tolerance very carefully and understand your own needs. To profit in trading, you must recognize the markets but first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk...
I can’t think of anything more important than risk management in your trading career. Where any market opportunity may seem like a good one, you need to filter out the most profitable ones. Even if you think that you have found a good trade to make money from, you better not risk more than you...
I have no idea how many of you will agree with me but controlling your emotions is not easy when it comes to trading. Your money is involved and you will obviously be thinking about saving it with every possible thing. Now if your concern becomes your greed, anger, or fear, it is something that...
Well written but I firmly believe in self-research. In business you have too many choices but you have to understand the demand of the current problems and future solutions. Some that require certifications, some a degree, and some extensive experience. All require proper business licensing...
I think the biggest thing you need to do to overcome greed is focus on yourself. It's easy to get greedy when you focus on other people’s results and the money they are making. To overcome greed, being process oriented will definitely help. You need a set of rules in your trading plan that only...
I agree with all the traders who believe that stop loss helps them by limiting the chance of losses. But if the market shows a sudden fluctuation and then gets back to its normal track, you can lose a major deal. I have always been confused about using or not using stop loss order.
My emotions change with every trade, every profit, and every loss. Sometimes, I feel so under-confident to open a trading position and sometimes, I am too curious to see my trades work. Sometimes, my profits give me the strength to trade more and sometimes, I want to restrict myself after a...
The easy accessibility to start their careers as forex traders makes people reluctant about studying. This often leads to unwanted trading decisions and losses. You must know every bit about what you are doing so that you are prepared for all that may come as a result.
Great explanation. Breakout strategy is one of the most often used trading tactics. They entail selecting a critical price level that you believe the market will break through, and then buying or selling at that price to profit. Breakouts are most commonly utilised when the market is already...
Gambling is based on luck, whereas forex trading is based on strategies. You can’t compare the two. But yes, any forex trader who trades without any strategy is just gambling. That’s where the similarities between gambling and trading ends.
Forex trading for beginners may or may not be profitable. This depends on how well the beginner knows about risk and money management, and strategy making. In order for a beginner to be profitable, he should follow better risk management strategies - like the 2% rule, stop loss - take profit...
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