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radex78
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Everything posted by radex78
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What should a newbie do for earning from Forex Trading?
radex78 replied to unikings34's topic in Forex General Discussion
Many newbie they rush want to making quick money from this business, sometime only knows if forex is potential business to making money, then jump to real account without preparation, and this is not advisable for beginner and will good they practice on demo account until finding profitable trading system -
Indeed forex trading is very potential business as source of income, but indeed not easy to making money from forex business, trading forex is remain risky, but here also there are many ways to making money from this business, if you having good skill analysis hence can become signal provider on copy trading
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- life vs forex
- discuss life vs forex
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Yes control emotion is important, because if we can't control our emotion hence will difficult to manage our account properly, sometime when trader facing loss it can making them being angry, and if they then become reckless due can't control emotion properly it possible they making bad decision and take high risk on trading
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Long term trading for newbie will be more profitable
radex78 replied to euro's topic in Forex Newbies
We as trader has option will using long term plan trading or will use intraday trading, forex trading is like as art business and we can manage money according our prefrable and choose that making us felt comfortable and profitable, trading with simple also good if we understand waht we do -
Is it easy to do scalping during night?
radex78 replied to Anne Morris's topic in Forex General Discussion
I think if choose broker that offer fixed spread is good for scalping, and choose pair that has low spread, might asian session market is has slow movement and there are trader scalping that like using these session for scalping, but indeed not always has slow movement so as scalping trader also need reading update news that might giving impact to the market -
Is discipline the most important thing?
radex78 replied to Anne Morris's topic in Forex General Discussion
Trading forex with reckless trading compared with high discipline implemented risk management and always obey rules system trading usually will can maintain account longer life compared with trading based on lucky and only relying using big lot size as gambling trading, this business need skill to manage money on uncertainty market condition -
Yes on demo contest usually that will get prize only from three winner or sometime five winner depending with broker rules, usually on contest demo also as winner they can making amazing profit, so on forex trading is possible making huge profit only few month, but of course skill is very important because without skill, losing money will easy than profit
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Generating good profit on trading forex is not easy althoough possible, but this is difficult task, without patience and good understanding with the market hence will difficult to making good profit on trading, if compare with traditional work, might forex is remain risky but all business has own risk and in forex if we can manage the risk properly still possible making good profit
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Yes of cour will very important to control our trading and not blindly investing money on forex business because this is included as risky business, profit and loss always occured in trading, but to investing money on forex will better don't borrow money of using all saving money on making deposit on forex account trading
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Trading forex is risky and not always on trading will able making profit, but of course as trader will always trying to making effort and keep struggle to minimize the risk and increasing profit with good learning, choosing broker also as part on decision business and we will get experience if already using their service
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Yes in fact is not easy to making profit from forex trading, sometime loss on trading inevitable, and to become profitable trader hence they need more long time experience, and not only relying with lucky, because lucky will never come all the time, and with good experience it will more understand if they can learn well
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Demo account is very good for early step for beginner, after newbie learn about basic education forex, then they can implemented these knowledge on demo account, this is important part before spent real money on real account, practice on demo will good at least six month because many trader can't maintain account more than six month on real account
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If any trader having good mentor then will also depending with their own ability to absorb knowledge from these mentor, although as mentor already teach them with all their knowledge, but if their skill is not good to absorb knowledge, hence will vanish these knowledge
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- Forexmentor
- forex mentor necessity
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Yes we can manage the risk, but we can't avoid the risk, this is part on trading, and with learning good analysis hence will can making better result on trading which with risk management plan with discipline it will maintain account from margin call quickly, but as trader also must they improved their trading skill to analyze the trend market
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Trading without loss is impossible, if any trader that giving guarantee profit on trading without loss, might they having certain goal and might only want us to enter on their trap, trading forex is also about profit and loss, but as trader also need to always pay attention with the risk that involved and trade with risk management plan
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Yes might fixed spread is easy to manage the risk, scalping trader also i think they will prefer choose fixed spread than floating spread, and choose pair that has low spread like as eurusd or another major pair, if scalping choose floating spread they need carefully when on news time
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Floating spread might will making shocks if any trader not realize broker that they joined has floating spread, which if there are news high impact and on high volatility market, increasing spread and after trader open any transaction suddenly look loss floating that high
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Loss in trading is general thing, sometime inevitable, if likely any trader facing with loss hence don't be emotion, anger only will leading them to making reckless decision and usually will violating trading rules and not pay attention with risk management anymore, keep discipline on trading is not easy, but if we can discipline it will easily to making evaluation trading
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Yes forex business having benefit having flexible time, because market open 24 hours 5 day a week, different with traditional market which having working hours on certain time, and usually at night will closed, and also trading forex is simple we can making transaction on the market with single click
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I think we need treat forex as business and not too much addicted with forex, which if already addicted might will become reckless on investing money, when facing failure and losing money or get margin call, addicted with trading will leading them to making new deposit and sometime using money that will used for near future and this is not good
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Yes sometime as trader only focus on profit but less pay attention with the risk that involved, which if any trader already able control their risk as small as possible hence with good learning when to determine best entry point hence will getting better opportunity to making profit and will possible increasing money easily
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When Did you start your First Trade?
radex78 replied to kiranchandra's topic in Forex General Discussion
Demo account for learning purposes and this still useful, but I think any trader that altready start in real account hence if they back to demo usually will less emotion pressure and hard to seriously on learning, because only using virtual money, except on demo contest might if they having goal to become winner hence will more seriously -
On daily trading as trader will look update market and will trying to manage the risk to gain profit, because if any trader want to get profit hence they need to dare take the risk which as trader will no gain if not take the risk, so as trader need to understand and able analyze the trend market with look high opportunity to obtained profit
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Long term trading for newbie will be more profitable
radex78 replied to euro's topic in Forex Newbies
Although not easy to making profit from trading but as trader on daily trading still look opportunity to get profit on trading, in forex although this is included as high risk business, but as trader having control to manage the risk, which on trading will safe if using low risk on trading and we can start to learn discipline on risk management and money management