Sininfinity

In simple words you were guided by a teacher when you were at school or in college etc. You went to a school so you can have a better future. We are in the forex market to have a better future as well. So why not let someone guide us if we can get it?

What you are saying is indeed is a difficult task. But it is achievable. But no so easily either. It will take lots of effort and patience and planning to achieve that.

There is a broker listed on NYSE and still got sued several times for cheating their clients. Regulation may matter but for a small retail trader it really means nothing in my opinion. Honestly of a broker is factor for them.

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Those kinds of robots are not available in the market. If they were then we would see too many people praising it. But we don't see that do we. People make money from selling robots and not trading with them. The robots that make money are not being shared.

The early you gain interest in learning the better. Learning and taking profit out of the market is a lengthy process. The more you age, you will see the less time you have in your hands. So when you have more time in your hands, it may prove useful.

You are right. Non dealing desk takes their profits from commissions and spreads and has nothing to do whether a trader loses or wins. This way there is no conflict of interest among trader and his broker. But if a broker is a dealing desk broker then conflict of interest arises and there is a large chance that a trader will fail.

Having a mentor is not necessary but preferable. Those who did not have a mentor would understand this. You will face so many difficulty in your trading when learning and if you have someone to guide you then this process will become much easier.

In long term trading there is less noise but newbies should also keep this in mind that it takes time to get results from long term trading and in the learning process in may take too much time. Also capital is a factor so if one does not have large capital then long term trading won't yield satisfactory profit.

Well said. If a broker trades against it's traders then the trader can never achieve success. Broker and trader must not have any conflict of interest and then there is a chance that trader will do good with his strategy.

The word success has different meaning for different people. May be few traders able to earn couple of hundreds from no deposit bonus but it can't be called success. Success should have a larger number.

You have a good point but I don't think there will be a civil war in top tiered countries. I think they are already prepared for those kinds of situations. But even if that happens then it will greatly affect the world economy and to some extent it will have major impact on forex market. But exchange rates will come to equilibrium sooner or later.

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Actually it will require a trader to have a trading plan which will bring positive pips over the long term. Learning is a never ending process and should be that way in my opinion. But we are in this market for profit while we are working in this market we should be able to generate profit for us.

Totally agree with this. One can gain knowledge but what to do with that knowledge is necessary. We are in this market for profit and if we are not able to do that then knowledge is of no good to us.

I can not say much about coding because I have limited knowledge on it. But those converters does not work with all indicators as far as I know. The disadvantage remains. Unless metaquotes do something about it, I am not sure if MT5 will surpass MT4 anytime soon.

Well once a trader gets caught in a big movement, then he will understand the value of stop loss. It looks good sometimes that not using stop loss is actually a good idea. But those with experience will prefer using stop loss.

Honestly I have no desire for recognition. What others think about me or calls me, does not make me anything. And for now my desire to achieve financial freedom is for my own security. Other needs may hit in future but for now others are not my concern.

Risk is involved with every business. So that's not a valid reason in my opinion. And I agree the business is not suited for everyone but that does not mean one should not try it. Unless a person tries something, he would not know what he could have done with that business.