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Decub
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Everything posted by Decub
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The Forex is never a safe haven for a newbie, it is just a risky business and much more risky when there is little or no knowledge. I have always been an advocate of; only trade and depend on Forex even you know you've got some adequate knowledge of it. When you are ready to overcome the hurdles it brings.
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I know of a friend too who trades the USD against the Yen and actually makes pips with it. I think a host of traders who trade in Yen are really those who are technical traders. I feel that's really where to get a good analysis of the way it will either rise or fall.
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Generally, timing pays of in the market. The success of Forex or the profit any trader would make is dependent upon how good he times the market, knowing the best time to enter and when to exit. For long term traders, some can leave their position for days and sell off when it goes high.
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Well, it's all for the trader to decide, why $300 is quite big for some, to others, it's just a tip and not something they should cry over. Trading in large lots or mini lots depends on the amount of capital he can afford to lose and the level o knowledge he has. Well, to a newbie, going for a mini lot wouldn't be a bad idea if he can get it.
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It is always advisable that newbies trade long term rather than short term. That way, they are having some good advantage to understand the market better than when they are trading short term. The smartness associated with long term trading is quite different from that of long term and it might result to him losing more often than leaving his position for long.
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This is a question that most newbies ask and of which, a concrete answer to it is quite difficult to find. There is no specific point one would say he would set the SL and it will be the best area. Just as it is best to set it close to the support and resistance, it can also be best from our analysis, that is how we can dictate the best point.
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Just as it can make you happy, it can as well make you sad when you are not getting the best it has to offer. Well yes, Forex can affect your life in a number of ways. The more a trader wins, the more he is happier with Forex and would like to earn more. That is basically the way it works.
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Bring an introducing broker also comes with some benefits which the broker offers. I really know some brokers who do not take these offers so lightly a d reward the IBs handsomely. Being an IB also has some degree of satisfaction because you kinda brush the new trader up who may never had known anything about Forex.
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Afraid you lose money in trading || FBS provides solution
Decub replied to kaito kid's topic in Forex Newbies
A trader who is really ready to face Forex and trade in it shouldn't very detered by losses. It is something that will definitely come up in the course of our quest for success. Losses is something no one ever bargains for, yet, something that keeps coming back no matter how far we pursue it. -
How to Lower Your Transaction Costs with Forex Rebates
Decub replied to kickbackfx's topic in Forex Newbies
Joining a rebate program is quite good against the believe that some have where the say that a trader who comes in though such affiliate program is bound to pay higher spread fee or have the tendency to be denied of some offers by the broker. IAFT is also another that offers this rebate program. -
One of the good things about the mini account is that it gives you still the same feel with that of the real account but with a lesser investment or risks of losing. The mini account is quite ideal for newbies who have traded in the Demo for some time and needs to test their skills somewhere else. It offers them a subtle way of coming to the real account.
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I feel also that long term trading would be quite beneficial to a newbie more. Setting a long term target and working towards achieving it over a longer period of time would most likely favour a new trader than when he sets it on a shorter term that would be discouraged by losses.
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Euro is always expected to be a strong currency. It is that which is used by so many countries. This makes it one that shouldn't fall so easily. Even during the economic crisis of Spain, it affected it but not as the way it would have affected if it were used by a lone country.
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For now, I've not been using EA and never tried it. If I have my time to trade, then I'm yet to see what use an EA is for me. I try to trade only when I think I have a lot of time to spare. Not necessarily bugging other activities with trading and only trade when the market try seems favourable.
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@Gober, you just spoke my mind, I think a lot of the countries within the third world region of countries are the major occupants of this Forex trading business. I see a lot of them around forums, brokers and all what not. I believe they are the worst hit when it comes to unemployment rate and that could be their reason for that.
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The amount of 6.03 USD has been deposited to your Perfect Money account. Accounts: U1786712->U4854513. Memo: 201 posts on GoldenTalk. Date: 10:25 09.01.14. Batch: 45482114.
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To the best of my knowledge, it will be pretty difficult for a mentally derailed to trade in Forex. To start with, it will be pretty difficult for him to learn how to trade, talk more of the real trading. It is just something that seems very difficult for him to accomplish.
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I have once asked myself this question but I'm beginning to think it is now too common among the third world. I mean, they saw Forex last but the spate of unemployment among the members of these countries are really pushing most of them to Forex and they are better off with it.
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I see leverage system as the main reason poor people are in Forex. With leverage, a trader can trade with small amount and still make reasonable profits. It is like, if you are trading with 10 using a leverage of 1:100, it makes it look as if you are trading with 100*10 which is $1000.
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I think copy trading is quite on the increase these days and most of the new traders embracing it as though their life depends on it. It is a form of trading where there is a social trading platform for traders to copy another's strategy and trading style. This form of trading helps the inexperienced to earn while they learn.
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That is the way the market is. It mustn't go according to your predictions all the time. There are times when you have to really find it rough in the market or even when there would be some fake break out. It is best for traders to always ensure they make use of the stop loss at all times.
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I put between 2-5 hours per day on the days I wish to trade. I am not that kind of daily trader who must be and remain with the chat all day long. I try a lot to limit the amount of time I spend there and also limit my online activities when I'm trading so I can give it some full concentration.
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I put between 2-5 hours per day on the days I wish to trade. I am not that kind of daily trader who must be and remain with the chat all day long. I try a lot to limit the amount of time I spend there and also limit my online activities when I'm trading so I can give it some full concentration.
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Forex is quite a good source of investment. But then, before the trader comes into it, he must make sure he has adequate and well thought after knowledge and understanding of it and how it works. That is the only way to become successful in Forex. This is not like a business where the trader only hopes for a better trading career without a practice to realize that.
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Well, those are nice outlined mistakes. There are sometimes I see mistakes among newbies as almost normal for them considering their level of knowledge. When a trader is still new in Forex, it looks so cumbersome and complex and there is bound for him to make mistakes, but as he goes, he discovers better ways of overcoming them.
