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radex78
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Everything posted by radex78
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Might not easy to work like as profesional trader, as retail trader also usually only manage small money and sometime treat forex as hobby, but so many people which they start from hobby but eventually they can making money and then treat these hobby become great business as source income
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All trader want to get improved, skill trading will never come easily but required long time process and learning, will good if follow one system trading and keep discipline with rules system, it will giving valuable lesson for long run if discipline is very much important here
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Manual trading will giving more experience and we can learn from these experience, how to improved better system and strategy we can easily to learn manual than using ea, because we don't know how ea working but only look on the end result, also many robot causing margin call account so as trader that like using ea also need make research and backtesting
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A good money managment system can give you success
radex78 replied to Levie's topic in Forex Newbies
Yes this is important for trader always trading with risk management and money management, because we will easily to manage the risk if we can discipline during trading with always using risk management and money management, forex trading is not only about target profit, but also about risk management -
What should a newbie do for earning from Forex Trading?
radex78 replied to unikings34's topic in Forex General Discussion
If likely we don't having courage to start with real account, hence practice in demo account also good to learn trading in real market condition, but usually if any trader already have experience in real account, when they back to demo account will no emotion pressure and not seriously on learning because can't make real money, except on demo contest will hardwork maybe -
What should a newbie do for earning from Forex Trading?
radex78 replied to unikings34's topic in Forex General Discussion
Forex now and forever remain risky, and as newbie or experienced trader need to understand with the risk that involved, for newbie before they start using real acocunt hence practice in demo account will better than rush because desired to making quick money, because forex trading need good skill and these skill is never come instantly without trained -
Might eventually all trader will jump to real account, sometime work in demo account seems easy to making profit, but not always like it, in real account can easily facing with failure, because different emotion pressure, when in real account will invoolved emotion but not in demo account
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No body's perfect in this field, as good trader also sometime facing loss on their trades, but if loss trades less than winning trades still good result eventually, might good trader or profesional trader already handle real account and rarely using demo account, except for newbie they need practice in demo account
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If likely we work with scalping, I think although target profit only few pips but we also need using risk mabagement, might some trader using stop loss larger than target profit, and all technique and strategy will depending with each trader to do, and choosing pair also important for scalping
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In trading forex actually we always want more, and never stopped to try again, whether we already get profit and loss, but because forex already become our business or job, hence we will try again with new plan, and hopefully will get profit indeed, but not always we can get profit because sometime loss inevitable
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hone your trading with a demo account and a real account
radex78 replied to rizal83's topic in Forex Newbies
Indeed not easy, because we as human nature which having emotion, especially when facing with loss and these loss might big loss due might facing successive loses or because trade recklessly using bigger lot size, sometime control emotion is not easy, but when we facing easiness in making profit, hence we will become over confident -
Actually forex trading is simple, we just need buy at low and sell at high, but not simpler because in fact not always if price on high then will down directly, sometime continue uptrend, forex market that very dynamic as trader need update analysis and always work with risk management plan, some expert suggested for newbie better thinking to saving first than boosting, and spent risk only 2% from all equity will giving more opportunity
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In trading forex we can use various strategy and we might prefer such strategy that suitable with our style, might scalping is good strategy for expert, but not all broker allow scalping for trader, and we also need understand with rules broker, and there are broker that offer free swap which this is more convenient for muslim trader and use swing trading strategy
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What should a newbie do for earning from Forex Trading?
radex78 replied to unikings34's topic in Forex General Discussion
Newbie they need learn step by step and don't rush because desired to making quick money then they rush with directly jump to real account, without good preparation skill in demo account, and this is bad decision because in fact real account is harder than demo account, in addition without practice in demo hence will fail on real account quickly -
I think with long time experience we will can making better control emotion, because we already know with our experience if emotion usually leading us to become reckless trader and can't making proper plan trading anymore, and sometime only want to recover previous loss with using bigger lot size.
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Yes impossible indeed trading forex without loss, although sometime any trader they can making profit with good result but once trades still facing loss, and here as trader will look also on drawdown trading performance, especially for investor they will need make research first before investing money on account manager
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Yes indeed as common thing as newbie they facing many mistake on early trading because still on process learning, but if they can learn many thing from their own mistake then they can improving skill and will become better trader, because how to become profitable trader need time learning, and spirit also high dedication
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Actually as trader they want to get unlimited earning from forex business, might if any trader already having profit and wealthy like as mine of Bill Gates but they still want more because almost human having nature as greedy person, like as we today already making profit but we still want more and tomorrow will trying to increasing profit again
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For beginner using demo account is useful for learning purposes, better for them not rush directly jump to real account if on demo account not yet having good skill to making profit and finding suitable strategy, but for trader that already start on real account, they still curious how to making profit in trading, and back to demo will not involved emotion pressure usually
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On certain time might we often rush in decision making, indeed on strong trending market will easily to making profit, but in fact not all market condition on strong trend, but sometime move very weak movement and slow or flat condition, as trader also need control their risk in trading and not only focus on target
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Of course as client also must obey rules from broker, if likely broker not allow to scalping hence as trader must avoid trading scalping, if broker might having rules to not allow using robot hence as trader must trade manual, but as good broker might they giving free access for trader even work with scalping or using robot, might beginner they can choose broker that offer bonus no deposit.
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I think no anyone trader which along their trading career they will always profit without loss, and trading with good analysis will giving higher opportunity to making profit, as trader will learn how to determine best entry and also target profit on reasonable target
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A good money managment system can give you success
radex78 replied to Levie's topic in Forex Newbies
Yes no doubt about this matter, risk management and money manbagemenet is key to maintain account longer life, strict risk management will giving more opportunity to making more transaction again, and good money management will calculating risk on every lot and how much equity they have, trading like as gambling usually can't long run in forex business -
Yes in trading we need money management and risk management, if as trader only chasing profit target and not pay attention with the risk that involved in trading, hence usually will become reckless trader and might will often facing with obstacle and failure
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In forex trading as trader also need to keep discipline and having strong mental actually, there are three point to become good and profitable trader, first they need profitable system trading, second they need risk management and money management, and third they need good psychology trading