Dora Wi

It's indeed the busiest hours on the market when it's the most productive to trade, especially if you trade on a short timeframe.

I know this was a while ago, but I'm curious - did the situation resolve in the end? How have you been doing since?

A lot of people who trade with large amounts of money prefer to use several brokers to lessen the chance of losing their funds.

The original post echoes my own experience - brokers offering such high leverage often don't comply with regulations perfectly. I think it's reasonable to stick with a smaller leverage than this - it can still give you good gains, and it's easier to manage your risks.

The thing with confidence is, one needs to find the right balance. It's important to look at your own skills and progress in an objective way as much as possible. If you are very insecure, look at your successes, and look for solutions to your weak points. Overconfidence, on the other hand, is also not a good way to go - make sure you are realistic about your expectations towards yourself.

As a general rule of thumb it is indeed a good strategy to stick to older brokers with a solid reputation. Age is not everything, but an older broker is more likely to be safe and more liquid.

Short timeframe trades can be good for practicing and understanding the technicalities of trading. Some caution should be used, though, when it comes to the idea of short-term gains. Scalping is not suitable for all beginners, as you need to place many trades over time to accumulate profits, and that can be difficult to manage.

Another emotion to be aware of is anger. We may experience it if we made a bad decision, experienced slippage, or simply took a loss due to normal market movements. It can lead to revenge trading or overtrading if not dealt with.

I'm not sure what this topic is about either. I feel like most of the times if I want to calculate what was a certain time ago it is not too hard based on the clock or the calendar. I might be misunderstanding the point, though.

I think robots can be good if you have the skills to manage them yourself. With no programming skills and little experience it can be very risky to use a robot made by someone else.

I actually think there is rarely a need for completely switching up your trading process. You might have to make changes from time to time for many reasons, for example if your results are not good enough or market conditions change.

Different strategies will work for different people. What always matters is knowledge and practice. You need to have a strong understanding of analyses, risk management and creating a trading plan.

Only risking what you can afford to lose is a good rule of thumb. And even if you are affluent, risk management is key if you don't want to blow your account.

Risk management is indeed one of the most important aspects of trading. No matter how great your winning trades are, if you don't pay attention to risks, losses can easily have a devastating effect on your account.

This has been quite a long time ago, so I doubt it's still relevant to newbies. It's a good analysis though, not going to deny that.

Greed has been the downfall of many traders throughout time, that's for sure. We need to learn to focus on our progress and on building a good strategy instead of the potential of earning money.

I think there are no set-in-stone ways of coping with greed. Some things that are helpful in my opinion is learning a bit about trading psychology, especially cognitive biases we are liable to, as well as learning to recognize your own feelings and have a good trading strategy so you are less likely to make decisions based on emotions.

Thanks for the addition! I'm not so sure about Targovax, but in general, biotechnology is a very promising field indeed.

Yes, exotic currencies do tend to be less liquid and more volatile. They can be good assets to trade but only one already has plenty of experience. Major pairs are more suitable for most traders, and even within them there is a good amount of versatility.

What company was this? Maybe I just missed it but I can't see which one the OP is talking about.

I agree that watching the movements of currencies and knowing what affects them are important. Different kinds of analyses and predictions are highly useful, too.

I think doing research on the entity and carefully going through the terms and conditions can help decide whether an offer like this can be trusted.

Another thing that can help decide on a trading strategy is looking at one's lifestyle, more exactly the amount of time they can put into trading regularly and what timeframe fits the way their brain works.

It doesn't look like it is.

There are so many factors that can affect your trading results negatively. I think one of the most overlooked areas is trading psychology. People tend to underestimate how much your mentality matters.