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Decub
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Posts
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Everything posted by Decub
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I think in the current dispensation, it is like asking if brokers offer means of deposit because these days, I hardly come across any broker that doesn't. There is a great chance for the broker to offer a learning environment for the traders and that is where the issue of the demo account comes into play. Knowing how to understand Forex from outset is the sole dream of any newbie and that is where the broker can help out.
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Anything that helps the trader learn effectively is accepted. Forex is a place that is meant for those who want to learn well and also be able to understand well. In the quest for getting the best, learning through those means are also very much acceptable and something the trader also needs to encourage.
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Whats the Difference of Trading Mini Lots Vs. Full-sized Lots
Decub replied to abdulla1's topic in Forex Newbies
It is also good to add that when targeting bigger lots, your capital is of importance too. One can only dream of very high lots with bigger trading capital because small and very little investment has a limit to the lot size they can use even though you choose a high leverage, if not, stop out becomes your next milestone. -
And now that it's no longer a paying forum, it will be crystal clear that whomever is coming in there to post is serious about it and I guess a lot of people can learn from it. It is therefore best to also say that those who would be seen more regularly there are the ones that are serious about learning how to trade in the business.
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I think this is the first time I'm seeing the admin pay for MTW before DMT. I was expecting that of the sister site to come immediately after but it seems the admin wanted it that way and may have his reasons to have shifted that of DMT.
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I reduced my activities a lot in the past couple of days because of other offline schedules but I can see that there are still a lot of people who are keeping up over there and that will always sound as a source of encouragement to keep coming around there.
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I used to wonder about this and why it is that certain brokers simply do not like the issue about scalping. It is just important to know that whatever that has a good process also comes with challenges. This is seen from the fact that scalping can also be demanding because a broker that accepts that will have to deal with the server too.
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When it's about knowledge, then that hypothesis is true and applicable but when it comes to the trader not having a good knowledge, then it is important that the trader learns how best to also understand when greed is coming. Being insatiable when it comes to earning is more like saying the person is a greedy one and this makes one begin to think it's better staying away from it because of the attendant consequence.
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I think also, understanding market sentiment is something a lot of people find it difficult to do. Forex is also one of such business where you need to flow with the market sentiment and understand the way it is because it contributes a lot to what makes a trader what he is and takes toll on the skills he has too.
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Importance of Demo Account/virtual account in Forex
Decub replied to abdulla1's topic in Forex Newbies
Come what may, the Demo account is always the starting point for any trader. Learning from the Demo account helps you learn well without fears of the unknown and it is also one thing the trader should be very mindful of. To know how to trade in Forex is something that requires a very good knowledge and a better understanding of what Forex is all about and that is what the Demo account can offer. -
One thing that is non negotiable is knowledge. I don't think a trader should be thought how to learn because if you lack the knowledge to learn well on how you can trade Forex and make money from it, then it becomes a big problem for you to make something good out of the market or to get the best from trading in it.
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I think beginners can give Forex a lot of definition by virtue of what they know about it and what they also want to achieve in the process. By default, it is simply a means of trade where currencies and commodities are traded with the trader's intention of making profit at the end of his trades.
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That is it. It wouldn't hurt if you tell people the truth and give them choices to make rather than take undue advantage over them because they will definitely let others know. I think there are more skeletons in his cupboard than we think and this makes one begin to doubt if it's an admin worth doing business with.
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That is it. I don't think a lot of people make posts in the PTP like they used to before because I know back then when one can make up to 4 rounds of posts in a day and even though it has the least rates, you can still find it fun posting there because of the activities going on there.
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Even when there are brokers known for offering very low spread, it might also be said that it's not exhaustive as there might be some other brokers which are yet to be discovered by certain traders which also offer very low spread. And then, you guys are right about that because it is not all that one needs to look at in brokers. There is also the need to look at factors like regulations too.
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In the quest to expedite the learning process, there might be just more than one reason to have a Forex mentor. The trader who knows how to learn can get the best off Forex but there is also the need for him to learn well and know that which is the right source for him to learn. It is in view of this that one needs to know if learning through a mentor can make it much faster for him to understand the business better.
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In a broader context, Forex is a 24/5 business and that is the main reason a lot of traders see it as more of a professional business. That not withstanding, it is also a business where you can trade in it only during periods when you feel your analysis seem right because it is not about going to the market but going in profitably that matters.
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A lower leverage poses a lower risk to your capital. When trading in the forex market, one thing that is worthy of note is the fact that there are chances of making high profit and there as well chances of making high losses. It is best for a trader to learn how best to manage his leverage especially at that early stage when he doesn't have adequate capital to trade with.
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Of course, Forex is a business on its own capable of making you what you want to make from it. It is a place where anyone who desires to be successful will get that success from and also make the best off it and that is the main reason a trader needs to understand what Forex offers in the first place and also know how best to make money from it.
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Yea, I think for a lot of scalpers, they have little or no reason to trade with a broker that offers a high spread because at the end of the day, they end up paying bulk of whatever they earn to the brokers and that also forms the main reason most scalpers first interest lie in the type of broker they are trading with.
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There are those who can make something good from Forex and they will be able to have a better knowledge and understanding of what they want to achieve in Forex. It is a matter of knowing what you can get from it and also being able to get that because that is what is of utmost importance and Demo contests can propel your trading capital once you win.
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Bad timing is still bad since it shows you lack that quality to adequately understand when to strike. it is not as though you won't have a reason to lose but most often, it is the trader who times badly that find it so difficult to make something good from trading in the market.
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Education comes in as the very first requirement for success to come in and for the trader who focuses more on his ability to make something from the market, there is always the chances that you go in for learning first since it is the first thing that takes you to knowledge.
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All bonuses are profitable. The only distinguishing factor is usage. A trader who doesn't have the skills to trade in Forex would not expect to make so much from it. It is a matter of knowing what and how to use the bonus but it also depends on your ability to understand the way it works too.
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Bonus is even so tempting that no one wants to avoid it but is it really something everyone can utilize well. that is where the main quest is and if a trader looks at a way to earn from the market, then learning should be his firs target as it is the main thing that leads to gains.