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bigxy
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Everything posted by bigxy
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The risk list is big one in my opinion and among those risks is a failure which most of the new trader faces when entering the market so start with a demo account and trade it for a minimum of six months before risking own capital.
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I guess you might be right as contests are really helpful in participating and competing with others showcasing the skills to get qualified for the prizes cum recognition.
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We can back test the same to confirm if it is working properly or not.
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Waiting for the right trade setups to form and then getting confirmation using indicators like EMA, checking the support / resistance etc and then getting into the trade to earn money otherwise if we trade against the market we can lose money.
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ALmost all loses money in forex trading because a bad day can happens to even the professional traders but those who let go off these loses and move forward eventually make their way to success.
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Yes small amounts can be a good start which also helps in testing the broker processes like withdrawal etc which can't usually be tested on a demo account provided for free by the broker.
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Factors that are considered while choosing a broker
bigxy replied to Gee Dee's topic in Forex Newbies
Regulations plus reputation also matters when it comes to broker selection although broker recommendation is becoming really very hard these day because of many broker joining the industry while some winding up the business too. So best part is doing some of your own research before finalizing any right broker. -
The chances are either these traders may blow up their entire account within no time and this is not something unusual, it happens most of the times to arrogant new traders.
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I think that the 500usd is a generous cash prize to those who shows improvement in their trading style despite the fact they win or lose.
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Perfect we should try to rely on our own skills and better building them rather looking for the indicators. Such indicators are mostly lagging and they cannot predict future.
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This actually comes with spending some time with the trading market.
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Stick to the demo account for some time and soon you will be able to tell us a lot more about steps to be done while chosing any broker.
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Any trader can withstand in long term trading only if they know what they are being doing. New traders should make a trade with a prospect not to enter the market with short term trading objective and especially when the markets are highly volatile.
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Yeah risky yet very rewarding and more riskier to those who does not know what to do in this trading market in my opinion.
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Yes rushing into investing in forex trading without any prior knowledge is because every new trader has a mind set that they have to push some buttons like in casino to double their money whereas in actual it is not like the same.
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The plus for these bonuses is that those who does not wish to avail these bonuses always have the option to open account without availing them.
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Trade the asset which best suits you and invest to that extent which you can afford to lose.
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We can better find what sort of trader is hidden inside us and start focusing on developing it.
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Hard work plus smart work is needed and i think those who become successful up till now do possess discipline and focus in their lives.
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We can better sit and check what kind of trading style suits our personality some are short term traders / scalper and some are long term traders.
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Also keep in mind that the new traders lose money as well but those who let go off these loses eventually become successful in future.
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The best part is that we can learn how to keep these emotions out of trading but it takes some time to train our mind.
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Scalping can be risky for the new traders because it is done in a very short time frame so they should instead trade on longer time frames.
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Those who know how to trade does not actually require bonuses for trading. They however add this bonus as a plus to make more money with it.
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Need a good broker with a little spread...
bigxy replied to LIAPLEBARSEDA's topic in Forex General Discussion
There are a lot of options in the market however there are a variety of brokers which can be trusted being reputed like hotforex, xm, exness, lmfx etc but proper research should be done before finalizing any decent broker for trading.
