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sakai
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Displayed Username : sakai Amount To Request (DMT points) : 500 Perfect Money : U1914781 I hope to my posts will be approved soon ..
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It's easy to be taken by those advertisements that promise good returns on investments for you forex trading as forex is quite simple and easy to learn. Enough research about forex will make one aware that its not an easy forte and one must really be prepared for it if they want to be successful.
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Do you think compounding is important?
sakai replied to andry777's topic in Forex General Discussion
I am able to get my profit right away. So I will like to make sure that I would not increase my capital not unless I am much better trader. Only that I would try to compound and also I also want to recover what I have invested so that I would not lose money in case my capital hits MC already. -
Robot is created by the human and only to help the human. And however, if we talk about God, human is created by God, so it is an absolute thing to see that robot is not better than human. If we want to be good in Forex trading, then better not to use any forex robot. It's always better to trade base on our knowledge and skills.
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Actually unless you are good enough with forex skills it is really very difficult to eliminate the risk fully in forex. And I can't say that the risk is fully eliminated but still there will be risk. Since fore is a risky business so I don't think it is possible to eliminate the risk fully. the only way is by minimize it since we know that forex always change so minimize the risk of forex is not easy as many people say, it need good skills and also we need to be good in our psychology .
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There isn't any technical difference between the two types of account as the activities which can be performed in demo account can also be performed in Real account. The only reason why our account performance is better in demo accounts is due to the fact that we are not afraid to hold a position in either big losses or profits while trading with virtual money unlike real account.
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Well, the amount of knowledge and experience will surely guide you on whether to go into forex on a fulltime or part-time basis. For starters and intermediate traders it would be better to trade part-time in my point of view because then you will still have other sources of incomes to fall back on or even fund your trading.
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Well, if you do not have the cash to business then do not business; it is as easy as that. Dealing with cash you need to pay expenses or stay off of is problems especially if you do not have a lengthy confirmed history of effective trading. Trading is a questionable process by itself, when you have to make the business for the cash then the stress gets much higher. Usually you will discover yourself creating faults.
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Well, for sure robots are useful in many things for expert traders not for newbie traders. But for me I think that better do manual trading. It is not easy to use robot any ways. And it is quite expensive. I rather save the money in buying the robot. And just try to use it as deposit for trading.
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Importance of Demo Account/virtual account in Forex
sakai replied to abdulla1's topic in Forex Newbies
Actually demo forex not give we are knowledge or more but only give we are experience in trading forex. If we try in real account maybe we can get loss and need make deposit again but in demo we can do it without real money. So, there is not any different between demos and real. Only just place to practice in forex without real money. -
Live trading is harder than demo trading as it involves real money. In demo account we don't lose a cent as we use only virtual money. But we need demo to practice, because they use the same platform anyways, and same live price chart. But in demo we can not find such dealing quotes and related, also the important that we can not train our psychology, because our psychology is different both account
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I see that we will lose some dollars in our training but our losses must be used for our profits in the next trading. I mean, we must learn from our mistakes to trade better in the future and we can fix any mistakes to become better trader and we didn't do same mistakes in the future.
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What do you think about free deposit from broker promotion?
sakai replied to kaito kid's topic in Forex Newbies
I see that the deposit is a very good step which the broker has taken to make things more easy for traders a trader that deposited fifty dollar may stand a chance of getting his investment double with a broker who offer 50% bonus deposit thus increase the chance of trading with a bigger margin. -
Well, about me I would rather get the live tutor. The interaction will be better because the tutor is right there ready to answer your questions immediately. You can also do this via online but the communication will not be good, the explanation will not be that clear compared to live training.
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I think long term trading is one of the good kinds of trading that people can do, about the investment I agree with you that we can think forex as long term investment for us, but this investment not like other investment since we are the one who manage this investment not other people.