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Everything posted by HarryPotter
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The Simplest Way to Earn in Forex
HarryPotter replied to smithlover84's topic in Forex General Discussion
There are some simplest ways to earn with forex they are just trying to use some forex strategies and that will really work to earn good profits with forex. The more powerful strategy we have the more profit you gain. Try to implement some good and basic strategies and that will help us to gain profits easily. -
Well, if you really want money then you need to trade every day or you can also execute long term trades and that will help you get regular profits so you no need to trade every day and enjoy profits every day. Any ways I am sure that if you want to earn good money then try to trade frequently but not every day that will be better.
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Actually to become a professional trader in the forex business learning takes a very long time and not just rely on luck as well as a gambling game, if we do not really learn a trade in can be said that if you are trading just hope to get lucky as well as gambling, which in turn loss will always come every trade we make.
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Is it advisable to trade on all currency pair as a newbie?
HarryPotter replied to flybiz08's topic in Forex Newbies
We can trade with all the currency pairs. If we know how to trade then all the currency pairs are same and we can trade them. There will be some currency pairs which will not give profits to the traders so it's better to avoid that currency pairs most of the times. I suggest EUR/USD currency pair to be the best one for newbie traders to trade with. -
Professional traders can start up with 1000 dollars and can make alot of profit with that and also can cover up their losses fastly. I think starting up with a low about is not that bad as we trade on the money available already. One hundred dollars is good for newbie.
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We can minimize the risk in forex but it is not possible to eliminate risk in this business because as we all know forex is a risk business and even after knowing about forex there are many people interested in this business. Of there will be no risk in forex then every one will leave there jobs and come to forex to earn money.
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Demo account help newbie to learn on how to trade. This will prevent them from the risk of loosing. The fact there is that they are not earning anything so as they are not loosing also but they should not be in a hurry to do that because live accounts could put anyone's money at very high risk when you don't study forex.
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Actually forex can be done as a part time job and as well as a full time job depending on your time you can get involved into forex. Actually forex do not have any time restrictions you can trade any time and for any time. But most of the traders make forex as there part time business rather than full time business.
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Do you think compounding is important?
HarryPotter replied to andry777's topic in Forex General Discussion
One can do compounding but they must be withdrawing at the same time. Maybe it will be good to withdraw 40% of their profits and compound the rest. I did not like compounding before; i always withdrew all mt profits. -
Do not ever be satisfied with what we've got
HarryPotter replied to rizal83's topic in Forex Newbies
Human nature is like that we will never be satisfied with what we have. We will be trying to get more and more and that wish never ends. If we have any dream and we have achieved that then finally we have other dream or aim will stuck out our minds and finally we will be in risk to fulfill that. -
In HYIP you always have this fear that you wouldn't get it back for anytime it might decide to go scam. I'd rather lose my money in my own hands than someone else will steal it. It's known that both of them are risky, but hyips are more risky than forex.
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We always need a stable strategy which can help us to make a living with forex. That is why the first step is education and then experience. Luck only plays small role in trading actually. Luck should not be at the topmost in these three matters being talked about in this thread.
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How Long Do you spend in Trading Fx Daily?
HarryPotter replied to Aikhen's topic in Forex General Discussion
What I do is to give more time to my learning course of forex because it is more important to learn first and then give much time in trading. Actually i am not able to give a lot of time in learning practicing demo trading yet. -
Talent is God gifted and not self earn if you can see you will out how many traders normally learn with a professional traders and experts but at the end of the learning only few will turn in to become a good forex trader for so its only God that can endowed us with the talent.
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If you never know where you are going how are you going to get there. If you never have revenue objectives then the business can convert easily and you can see a successful business. Taking too many investments will gives you less a chance to think about what you are doing and improves your possibilities of creating a mistake.
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Newbie cannot even handle a robot. He is faced with understanding forex orders, and with a robot he is compelled to give those orders which he barely understands. So the robot is not recommended for beginners, because they still need a lot of learning on the basis of forex.
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Importance of Demo Account/virtual account in Forex
HarryPotter replied to abdulla1's topic in Forex Newbies
Besides learning how to trade, we should make all the mistakes we can in demo trading so that we won't be able to make as much mistake or avoid mistake as much as possible. Demo account useful to test new indicator or trading system because trader can’t use it directly in live account without knows these indicators.- 751 replies
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- forex virtual account
- forex demo account
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To learn about emotion management, we should use real trading account. I'm running in demo account too right. But many people said when you get into real account, you will get different result. As a beginner, I suggest that you'd better trade in demo account at beginning. It will help you familiarize forex trading.
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It more depends on what you do after your loss. If you just continue on the same road without any introspection or evaluation of your decisions then it's an experience not used to your advantage. It's always better to look back and try to figure out what went wrong so that you can find better ways to ensure success.
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Few Tips and Advices To Get Started With Forex.
HarryPotter replied to spywww's topic in Forex Newbies
If you’re dealing encounter is less than 3 several weeks. There are controversies as to whether it is better to adhere to trial dealing or start a little stay consideration. I prefer to open an online currency dealing trial account with any broker and plunge into the world of exclusive dealing. -
What do you think about free deposit from broker promotion?
HarryPotter replied to kaito kid's topic in Forex Newbies
If we use our own capital to play forex that which we can not and do not understand very well how to play the correct forex trading will certainly be a loss. But if we use the deposit by the forex broker we can sharpen our foresight. That is true that we can get that bonus with out making a deposit. But can we withdraw the profit without making any deposit. -
There are not much people who wanted spend their time to teach us about forex personally except someone that we knew. It is more convenient to have a live mentor. You a more easily explain your confusions and get guided responses. It's unlike asking traders on the internet.
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If you are considering investing into forex trading then you need to be prepared to take on the risk and give yourself a chance of minimizing losses in the process. Forex can be a good investment as long as you ready for it, because forex is high risk investment
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- long term forex trading
- risk in forex investment
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Having a strategy will be good for traders because they can trade systematically and also will give them better result if they can follow and also act so fast in based on our trading plan. It will make us become a different in that business.
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All have to understand that the robot of a thing don't usually work out. No doubt its a helping hand as it helps us to trade when we are busy or resting but in terms of newbie, using robots wont help at all as we need to improve our trading skills and be a good trader first.