Discussion in 'For novice traders' started by Volkov Yuriy, Aug 24, 2017.
Hello! Let's get acquainted?
Some advertised something not related to Forex here which is gambling. The thing I hate about gambling is I can't analyze a thing or two about the past patterns or such that only leads me into hoping pure luck will come
Yes, Sir! A lot of Ads are irrelevant and have spread in many threads, so it makes our discussion uncomfortable.
I think Forex is still the best online business, even in this pandemic era. The real business with still make some analysis, not gambling - not a game. Forex trading is something what really happened in the world especially in economic news
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I agree with you. Forex business that is real and has been running for a long time. Forex is indeed risky but if it is successful in this business the profit generated is very high and very promising.
It's a matter of risk management. When you're wrong on entering the market, ask yourself, how many that you're willing to lose. Better not to lose on a single trade, it's a pure gambling if that happened.
Wrong on entering is normal, just practice and practice will make us better, don't forget to use our money management and keep trading. Always think that we are trading, not gambling.
It's part of a process that you can learn from your own mistakes and carry on for the better chances later
Exactly, as the saying "practice makes perfect"
Another thing to note that is better to make some kind of trading journal, just like a diary to your trading. Every single time you make some kind of update of your trading setups along with decisions you have made there to you can learn from some mistakes you have done
Yes, Sir. So don't be afraid of being wrong on trading. Mistakes can be our learning so that trading is more accurate.
The main requirement in this scenario is only one: risk management. Risk management is one, if not the only, crucial element in maintaining profitability for successful forex traders. However, the majority of traders will find it difficult to realize this fantastic profit.
Early traders have difficulty in calculating good money management, using large LOT so they can get profits quickly. But usually, it doesn't last long.
It's because they considering the profits first rather than looking out for losing possibilities. Just calculate how much loss you will have if the price hit the SL
Sometimes affected by Stop-Loss feel very lost, even though money is still there. Usually aware if you are desperate to trade without Stop-Loss and then margin call.
YES. If you already have a trading strategy that has been tested and balanced with the application of good money management, then you might be able to generate multiple profits. Even so, the term "forex can multiply money" I don't think is right. Because forex trading is not to double money, but as a business or investment instrument that has a profit value (profit).
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Yes, agreed. Reversal and breakout are the most strategy that many traders use it, and there are basic education also.
If I want to explain my opinion
Reversal is a pattern of predictable price movements or provide a strong signal will change the direction of the market.
Breakout is the chart moving out of the range of price range that has been a place of price movement, with the breakout creates a price higher or lower than some previous period.
Choosing a good broker requires at least some experience. More than 5 years very happy and enjoy trading with Freshforex.
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