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freaky
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Many traders says that demo trading is a waste of time. I don't agree with that. Demo trading is the foundation to having a good result in real trading. It is in demo trading that you have the opportunity to practice and check your trading strategy and see its efficiency before using it in real trading.
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Our daily target is based on individuals choice on how much profit to make daily and also the capital been used. For me, my daily target is 20pips to 30pips on daily basis. That's what i can target because of the amount of capital I invested
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The biggest deposit that i have made was beginning of this year and that was 1200USD. When i made that deposit, i thought i made a big mistake making that deposit. But at the end i made a good profit out of it.
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One of the secret trading tips is to always analyze the market and be able to predict the market to a degree before going into a trade and also making sure that money management is applied in each trade been made.
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Mistakes that Forex traders are likely to make.
freaky replied to mody.saied's topic in Forex General Discussion
One of the mistakes traders are likely to make is to trade without Patience. A trader might experience loss and will like to rush into the foreign exchange market to open up a trade and make up for his loss without having a good analysis of the market. this result to loss. -
why many people see forex trade as gambling?
freaky replied to rockstar's topic in Forex General Discussion
Good and professional traders do not see foreign exchange trading as gambling. I my self don't see it as gambling. Those that see it as gambling are those traders that don't really think that analyzing the market is important, they want to start making huge profit immediately. -
Every trader definitely needs a trading plan, it is very important. Not having a trading plan is just like making a travel with a direction to your destination. A good trading plan will bring about a greater profit.
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Do you think compounding is important?
freaky replied to andry777's topic in Forex General Discussion
Compounding is not that really important, it all depends on how the trader wants to get his returns. If a trader really want a greater profit then i think compounding will be very important in that case. -
Can I lose more than the fund I deposited?
freaky replied to yogeshwartyagi's topic in Forex General Discussion
Yes you can definitely more funds than you have deposited. Once you are not careful, you don't apply good money management and risk management, you will definitely experience loss. -
What is the Best Currency Pair in Forex?
freaky replied to reyah's topic in Forex General Discussion
Every currency pair is good to use in trade, it all depends on the currency pairs you really know how to use. For me, the best currency pair i like using is the EUR/USD pairs. -
How I Turned a Losing Trade to a Winning Trade.
freaky replied to asiaforexmentor's topic in Forex General Discussion
Turning a loosing trade into a winning trade is all about having a positive mental attitude towards your trade. If you believe you can still turn your loosing trade to a winning trade you can do it, just monitor your trade and use good risk management -
How much capital that you used in trading?
freaky replied to andry777's topic in Forex General Discussion
This depends on the level of knowledge a trader operates. For a newbie, i think he needs a small account of capital to start trading like 50USD to 100USD. For me when i started trading, i started with a capital of 300USD.