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myregister
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Everything posted by myregister
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Aussie or AUDUSD movement in asia session today seems weakening against USD after opened in weak power at 0.69975 in the early trading, Aussie exchange rate falling down around 4 pips. The cause is probably because of Oil's price which keep falling this pair in this Asia session even China's economy recovered slightly. Pair could rise back thanks to the correction but we need to be careful with JOLTS which may change the tide since as we know today there is no news released for Australian Dollar makes it easier to get some push from USD after that news.
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GBPUSD on Asia session seems weakening after opened at 1.45446 in the opening, that was down around 7 pips. As expected since this is a correction to the price which rise quite nice yesterday but fundamentally the price will be in volatile since today Manufacturer Production data will release and may push GBP to the higher level again, but if theprice is out of the expectation in this case lower USD may do a reversal and fall back to the previous support level.
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Lose 10 stroke is not a very pleasent experience but through that i learn something. Never too much hurry to trade. I am personally trader with news means i am news trader. The market will move volatile when they news just released up to around 7-15 minutes after. So based on that keep waiting for the market to slow down a bit or when the market stop to do correction and begin shaping its future.
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Importance of Demo Account/virtual account in Forex
myregister replied to abdulla1's topic in Forex Newbies
Virtually all of these accounts are useful for trader's daily activities because as we know it would help us to trade effectively and efficiently. In modern trading especially in margin trading, people need both of these accounts. First to learn and second and the last is to experimenting about something like new technique or strategies. -
Yes, constant profit would bring us better life in forex and we confident about it that forex will be a good business for our life later. Aside from that i don't think there is another way, but if you think forex is frustating then it is forex not a suitable job for you, maybe switching would help you.
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That is a good advice and i think the most common advice i ever heard up to now. Even that is the most common one but many newbie doesn't know when to stop trade in demo account or they simply ignore to trade in demo account because they think they are good enough. This common and simple strategy has been proven to bring better experience and overall trader may control risk better and analyze more accurate.
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You want to invest as trader or as investor? If as investor i don't have much recommendation but still choose a broker which offers reliable and transparant pamm services but if you want to invest in forex as trader then FXDD or FXCM are the most suitable place for you. All i can say that broker is well-regulated and doesn't accept 3rd party payment so easily unless it is also well-regulated.
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Rarely? I don't thgink this is quite rare but lately from november to this january, NFP bertrayed me in 3 consecutive losses could you imagine what i felt? Damn, loss 40 pips is not a big deal for big traders but for me it is quite huge loss and especially in the same news. Well only 90% it may true nost 98% i don't know where do you get that but please stay away from mid december to mid january when you want to trade with news.
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What required? I mean it is already well explained how stop loss is one of the most important feature each single trader has but usually overlooked by traders, they prefer to cut the loss manually rather than give the job to stop loss which can work very well especially in the condition where the market isn't so volatile.
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Since it is a long term trading that is why our earning bigger than short term such as scalpers for example. It is more about quality rather than quantity but it doesn't mean you alwasy get profit from it. As for the indicators you need some of them usually like candlestick or moving average or something like that, mostly use technical analysis.
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@sidejob: Must and sometimes that is contradictive buddy. You can tolerate to fear sometimes but it is not something you musn't. According to me a people who know their fear able to reap more profit, for example not in forex but stock is warren buffet. He know how to fear or greed that lead him to better life and profit. That could be applied to forex also.
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Yes, it will help us not to mention it will bring another view from ours. We can trade better or even manage the risk in different or unorthodox way. The only way to do that just as you said break the limits. Each people has in fact limits but to break it is possible thing to do. It only requires our perseverance, saying is easy to me but to do that is hard.
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Cost is loss but it is a cost not loss i mean it is something you must pay that later will give you more than what you pay. If you loss means you pay something but cannot recover from it. Cost of trading comes up with many things but the most prominent example of course Spread, which many people concern especially for scalpers.
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Come up with that statement, i think it is not just people psychology, it must have something that trigger's people psychology to trade, to act and that is what news gives. Also it is a fundamental indicator for how healthy one country condition. It will give better sight of do we need to hold a country's currency.
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Fx has its own market and so do Stock even actually connected to each other, or to be exact affected to each others. One biggest different which actually derived from the other big differences is stock market is centralized while forex itself is decentralized. In fx you will some or quite a lot of liquidity provider which act as market maket or fx market and it connected to each other, also broker which become middle man in fx trying to connect with each of those liquidity providers.
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I wonder if scalpers will pay a lot of spreads in fact they keep trading with lower spread as much as they can, this is something good i think. Not to mention that scalpers only open not so much positions, but still it is depend on how frequent a scalper trade if the more they trade it could contribute to largest earning for a broker whose have scalpers.
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Scams will be always scams and the one who scam is not forex because as far as i know forex is an ecosystem not like broker which is an entity inside of forex. It is just like a trader who trade in "black way" by hacking the price feed or send DDoS attack. Scam in forex exist because of those dishonest entity.
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How to Lower Your Transaction Costs with Forex Rebates
myregister replied to kickbackfx's topic in Forex Newbies
Logically with forex rebates someone will reduce or increase either loss and profit. It will increase profit if we make profit if not we reduce the risk or even in a good scenario even we loss we still make profit because our rebate is bigger than our loss. -
How many lot size that you use in trading?
myregister replied to andry777's topic in Forex General Discussion
@ronnie: As long as you don't have much problem with it i think being aggressive with use bigger lot size i mean more than 5% of your total risk, but still that is bring much risk to bear and most traders cannot bear it. It requires a lot of things from trader. How many lot size is always dynamic, to me not more than 5% of my total equity since that is my own risk management -
Same here, forex is money if not forex is profit if not forex is pips . I am trying to make good income despite of some consecutive loss i got in previous month, forex also a life changing, before i don't have much earning but thanks to forex i get quite good income for few years and start to keep build my capital in order to obtain bigger income.
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That is right analysis still important all based on anlaysis before someone trying to take an action to open or close a position in financial market including forex. What i emphasize here is focus to trade and just do your trading without need to waste into unhealthy discussion about forex. Start do analysis, start with demo account, keep action and gain experience.
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First is we need to know how much we need to live? And then calculate how much profit you have. If in your city/town/village the living expense isn't big enough maybe small lot size could help you to make a living but it would be defenitely big lot size you need if you live in area/place with high living expense.
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Importance of Demo Account/virtual account in Forex
myregister replied to abdulla1's topic in Forex Newbies
Of course, just imagine a place where you can do near anything without any fear of losing your money? All traders no matter what their level or experience would be gladly open an account in demo account. The importance of demo account is not a joke nowadays, it is a must for any brokers in this world. -
Normal leverage which considered to be normal risk for forex is 1:100 up to 1:200. At the moment i am using 1:200 as my leverage. 1:400 was but i think it is a bit risky, but for someone who prefer more risk 1:400 or up to 1:500 would be a good number for their leverage.
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Some people also find theirselves more comfortable when they learn by theirselves, it is a self-paced learning without anyone trying to disturb with deadline or so. It is not about sooner or later but how comfortable we are when trade and learn. Mentoring isn't bad for some people but doesn't fit with some people.