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Everything posted by Samar
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Having forex as the only income source would be quite indeed but it will add pressure to the trader as you realize that your livelihood is depend on you making profits from the trades. You can make money from forex but not completely depend on the income derived from forex and we can live better life, never forget that forex is risky.
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There is time to use demo account not only as testing platform but there is time to treat demo account as live account as simulation before we entered to real account. It can give us more knowledge how to move technically in certain condition. Most people can trade better in demo account than in real market. It is emotion that plays here.
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I know that many individuals are in real need to robots because they are unable to trade by themselves, but they should know the obstacles well. It's good to have a bot if you are newbie. But you must try to take note on the indicators. Take note on the behavior of the bot. How it trades how it earns, how it makes mistake.
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Unfortunately there is no ways to escape from risk. To be frank forex is a very risky business where you have the chances of earning at the same time May chances of loosing to we should be careful while trading. There are many risks that can be mitigated to a point where they are insignificant, but never totally eliminated.
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Forex forum Do you think forex forums can improve my trading skills?
Samar replied to flybiz08's topic in Forex Newbies
I agree in a part that in forex forum there is no limit we can learn, there are some good resources from experienced trader and many experts in forex trading. There were many lessons we can have in the Forex forums it's obvious they are good also in demonstrating or showing us good signals and also their technical analysis.- 456 replies
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- importances
- added advantage
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You can note that many traders don't have knowing of specialized analysis. Market Basic principles do generate marketplaces but if you are dealing according to essential research, you still need to have an excellent manage on technical research.
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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. Most of traders will prefer manual trading because it gives the trader the chance to actually learn Forex and get used to the reflexes that are quite common in the markets.
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Importance of Demo Account/virtual account in Forex
Samar replied to abdulla1's topic in Forex Newbies
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. Demo account is useful for forex beginners, because it provides basic knowledge of forex trading, such as beginners can learn on how to execute a forex trade.- 751 replies
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- forex virtual account
- forex demo account
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Depending on the outcome of that experiment, the trader will either try a real account or not. For traders who are able to manage the rather simple hurdles of the demo. One gets quite different experience playing in demo account and trading in real account.
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The only thing we can influence is the level of loss we may end up with. Always, we should aim at earning a little, or losing a little only. I like your tips about being organized and am too hasty in doing things in forex. One can learn through experience by losing their own money or through the experience of others too.
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Before starting to play with better investment we look for forex brokers provide demo accounts so that we can learn the fundamentals of forex. It is known that learning in the demo account is a good thing indeed because this is where you will be able to get some experience on how to use the broker trading platform.
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What do you think about free deposit from broker promotion?
Samar replied to kaito kid's topic in Forex Newbies
There might be a number of conditions with the free deposit but the practice you are getting in here is quite important and relevant. Actually the free bonuses offered by brokers are very useful for beginners to increase their experience in the trade due to the bonuses; they can continue to learn how to prevent the risk is always the case. -
I really want to do some workshop as I can directly interact on how to trade in forex trading and earn money from it. But I guess its going to take some times before I can find a right person to teach me. I prefer the live mentor because I can interact directly either through verbal or practice.
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Considering that we are fast learner and good with analysis we can work on it without much the help of other traders. 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.
- 336 replies
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- long term forex trading
- risk in forex investment
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We can earn good money from trading forex, but I would always not advice that the trader makes it his/her sole job. i think we should have real business too, because it's too risky if we just depend on our life from forex only.
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I still have to learn more and more to be able to depend on myself. It can be a blessing if we are going to know the successful trading strategies of experienced traders. We just have to copy this and we are on our way to earning substantially.
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I think that it is not that easy, because we have to predict the price on the market. And we know the price is usually not the same and hard to predict in the market. We can depend on our trade strategy. Trading strategy is really very important to get good profits with forex
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If you are short-term trader, so it's better to use short time frame, high lot size but still with good money management. Put your money in some fund and let a money manager who is expert in Forex, manage it. Let him/her get some percentage of the profit.
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For sure it's up to the trader's weather he wants to trade every day or some days. if a trader want to earn some regular profits then he will be trading every day and if a trader want to earn some huge cash on some days then that can also be possible so no matter when you trade the ultimate result will be making profits.
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Forex and gambling have the same purpose indeed and that to make money at the end of the day. The approach is what is different because with forex trading comes learning and preparation attached to it while with gambling its more of a guessing game and hope you get the odds right.
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I believe that there is no way which we can get rid of our loss or risk because almost everything depend on us so the best thing here is that we need to try our possible best and be trading with a good money management and risk management just to be on the safe side of the business this will really help us minimize the level of loss.
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It is because the money in demo account is not real. Since a trader can afford to take trades without paying with real money if trading mistakes occur, the trader is more inclined to perform better. Again, since the trader cannot actually withdraw the wins, there might be no need to be greedy chasing pips around.
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For the person who make good profits and a very regular profits for them forex will be one of the best place to get settled with forex as a full time business. But still there are many traders who are into forex business as just part time traders. I am sure that it is really a very good advantage to the traders to make use of forex to earn money.
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Do you think compounding is important?
Samar replied to andry777's topic in Forex General Discussion
vComponding is a great idea to increase your capital quickly but we have to be aware that there are risks. I would a suggest set aside some profit and then try compounding, by doing that you do not have to face the predicament of losing all your money. -
Trading is something we should be dealt with a good trading strategy and with cool mind. We should be able to face the situation of trading with a cool mind. If we just satisfied with the results we get then we will cease to keep learning and will not be able to generate better profits.