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Everything posted by ivan
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We have to keep on practicing until we have found the best strategy for us. It will be the best also that we have our improvement in the skills in the considering that we will need to have the decision and discipline skills. We should also focus on how we will have better analysis in the market during its critical analysis. Since, everyone need of the analysis.
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We have to know that there are traders that only come to see market's movement, if markets not good they will cancel trading and then just logging out. Even like that mostly traders that i ever speak do trade everyday, since most of them are professional traders that already make living from forex.
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Comparing forex with gambling is not good because forex is far different from gambling except the risk factor in both may be same. But in forex we can over come the risk with good practice but in gambling I think this will not work gambling will be purely depend on luck. But forex is not it will depend on the skills and knowledge.
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Is it advisable to trade on all currency pair as a newbie?
ivan replied to flybiz08's topic in Forex Newbies
At first we have to know is that are we able to familiar or recognize those pairs because, if we don't know how the trading there then, we can't make good analysis or not have good chance of profits. We should be wiser to have major pairs before other pairs like those exotic pairs that rarely to have analysis or signals from other traders. -
Actually there is no easy to make money though Forex can be an easy way once you are skilled trader. But when we are just starting up then for sure it will be surely hard because there are many losses that we may experience it's really better that we are prepared about those losses as we can be prepared emotionally and mentally.
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Well, from what i see some newbie start with about $30 or more like $50 but i rarely see them that try about $100 unless they have a lot of money, but for some students like me that amount is too high. And it would be a trouble if I have losed them.
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We can see several disadvantages of forex robot ,most of this are for new traders since they can become lazy while using robot and may fail to develop their own plan and strategy which they will be use for their own benefit in the future, and also some EA do fails times so its not proper to rely on EA.
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Money does count indeed when it comes to going into forex on a full-time basis because you will also need good funds to go that route. I guess that for some traders that are still getting their feet when it comes to trading it would be rather hard to imagine going into forex fulltime at this stage.
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If you used some percentage to compound your account, that will be faster to get your original investment. But each person has different point of view, taking our profits is okay too. Compounding is good if we added it step by step, slowly but sure so we can build our psychology too.
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There is no satisfied trader in forex because as we all know forex have more opportunities to earn huge profits but due to greed traders will be aiming for unrealistic targets so finally they will be loosing there money. But we should be satisfied with what we get and that is really very important for a trader to have.
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Deciding for a live/online mentor is similar with meeting new people. Live mentor is more advantageous than just having a mentor that you can meet online. Live mentor can teach you more things. It would be difficult to get mentor in forex, especially mentor from online because there are not much people who wanted spend their time to teach us about forex personally except someone that we knew.
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What do you think about free deposit from broker promotion?
ivan replied to kaito kid's topic in Forex Newbies
I failed to reach or make profits because they have here commissions fee or their sort of one time withdrawal fees. Thus, it will be a pressure for us to have set higher target profit for that free deposit bonus so most likely that we will really fail in our trades. It would be very helpful for a beginner. As he can learn what it is like to really trade with reduced risk. -
I don't believe that it is always the cases that when we need or must lose first before succeeding. It can be also succeed then fail sooner. No matter what we need to be prepared for that and need to consider different factors in order for us to have good trades and be successful but then we can consider losing in trades as part of our experience in trading.
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Importance of Demo Account/virtual account in Forex
ivan replied to abdulla1's topic in Forex Newbies
But there was some people who really not want to used demo because of virtual money but we need to think first to learn. Demo account, it is one of the best way to seek knowledge and get free training of the forex training. I think if you get training from it and then enter in the real market then you can easily make your decision.- 751 replies
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- forex virtual account
- forex demo account
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There are still some newbie who are directly using the robot without any prior learning, although they have benefited from it but they will continue to depend on the robot more than their minds. So, it’s clearly that the beginner trader has no need of a robot.
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Well, if you have too many start roles it can cause you to have too much dimension on for your consideration and can cause to problems. Not having an excellent knowing about edge guidelines and requirements, over power is the number one monster of currency trading investors. When you go too far you get a edge contact.
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Forex forum Do you think forex forums can improve my trading skills?
ivan replied to flybiz08's topic in Forex Newbies
If you think forex forum will improve your trading skill, rather than to be trader. I know forex forum is important but only to give us knowledge not to improve our trading skill. Forex forums we tend to give us the background of forex and helps newbie to know what trading is all about but the disadvantage there is that it cant make us to be a good trader.- 456 replies
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- importances
- added advantage
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Well, I see that Different traders have different views on how much their minimum deposit amount should be in Forex. However, it is avisible by many professional traders to start forex trading with a minimum of one thousand dollars as to earn profits and recover any losses a trader gets.
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Is it advisable to trade on all currency pair as a newbie?
ivan replied to flybiz08's topic in Forex Newbies
Well, newbie has hard time understanding and monitor one pair so I doubt if he can monitor multiple pairs. I'm trading eur/usd for five months before I add another pairs. That's how long its take me to understand the basic rules of forex trading and once I understand it its easy for me to apply in other pairs as well. But if you going to start with multiple pairs, I doubt if you going to understand how to monitor and analyst each pairs. -
It isn't good to compare forex with gambling because gambling is a illegal way to earn money and most of the countries have banned gambling in there countries . But forex is a very serious business which will be taking place in the entire world at a time and any one can participate from any where of the world. And forex need a very good knowledge and education and experience but for gambling an illiterate can also participate in it.
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About me, I don't have much time for forex trading as well as not have huge trading capital to trade daily. But usually when I got here my bonus from forex forums I have trade here daily and to have some profits I will going to withdraw it. Though, so far, I still don't have change my mind in having trades when there's always good opportunity to make trades.
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Without the proper knowledge and skills then I am sure that you are not going to survive in here. You will just end up losing your money in here until you don't have the money to trade so think twice before you engaging yourself in this kind of business without the right education.
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We can earn in forex without any problem since we have good knowledge & experience and enough skills. I'm really happy with the way things are in forex. I'm sure we can be earning good amount of money in here. I'm really excited that I do really make something good with my life in here.
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I like to have a trading plan. I do make sure that in the long run I can make good income without any problem. I know it's really hard to make good income online. It's been a while since I last invested big money in forex and I got MC. And since then I make sure that each time I trade it's all been check and it's been supported by research and good analysis.
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About me, I can say that Forex trading takes time and effort so that we can succeed in this business. So be lying if someone said that this business is the fastest and easiest way to make a lot of money. For who is an expert might be able to like it.