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Everything posted by Dora Wi
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There are a lot of online casinos to choose from, regular and crypto ones, too. Just be very careful when choosing and when playing, it is easy to lose a lot of money.
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Why do you think people are scared of investing in forex?
Dora Wi replied to Levie's topic in Forex Newbies
Some people might be afraid of trading because of the existence of scam brokers, but I think it's more likely that people are simply afraid of losing money, or holding false beliefs about how the market works. -
Very true, flexibility and the ability to adapt is key when it comes to trading, and making your own strategy and knowing how to behave within different circumstances is a great way to ensure that flexibility and adaptability.
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Thank you very much for your feedback hel3na471, I am glad you find our website useful
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Gathering knowledge is essential in becoming a profitable trader. Analysing your previous trades can be a great source of knowledge, you can learn a lot by noticing and improving on your mistakes.
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Still not profitable with your trading?
Dora Wi replied to Shariar Porosh's topic in Forex General Discussion
What do you mean by that, can you give an example? -
Well said, it's key to have an idea about what you are getting into when you start trading - there are a lot more things to trading than the ability to speculate. It takes a lot of learning and personal development/self-awareness to become a good trader.
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Support and resistance levels in trading
Dora Wi replied to Myra Wilson's topic in Forex General Discussion
Trading on support and resistance levels is a good trading strategy - of course there are many other ways to trade, too, so at the end of the day it comes down to preference and what strategy suits the current state of the market. -
It is an indicator that shows traders price action charts across multiple timeframes. This way you can look through several options in one place.
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Are professional trading courses useful?
Dora Wi replied to adamsmiths's topic in Forex Trading Styles
A lot of free courses and tutorials are available when you are a complete beginner and you can gather a lot of information that way, so it might be a better option to try those first. -
Very true. And also one should be careful when transitioning from demo to real - the only disadvantage of a demo account is that you don't experience emotions related to trading, so it can be a little more difficult to trade on a real account at first.
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I agree, demo accounts are a great tool for learning and practicing without the risk. I think every beginner should try using a demo account first.
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Yes, unfortunately this can happen. Some people who trade with large amounts of money use several brokers at a time and place the same trades with copy trading software so that their entire capital doesn't depend on just one broker.
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Good trading education is indeed very important. Adequate learning and practice is one of the most essential things to ensure that you become a successful trader or investor.
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You are right, correct education, practice and a regulated broker are all important components of profitable trading. One of the most important tactics that people sometimes overlook is risk management. Using risk management can protect you from a lot of unnecessary losses.
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How to be consistently profitable in forex trading.
Dora Wi replied to asiaforexmentor's topic in Forex General Discussion
Tracking your trading process and results is a really good idea. Recognizing possible mistakes or suboptimal moves and improving them or learning from them can be a very beneficial method. -
It's definitely important for beginners to educate themselves, and you are right, there are many opportunities available for that nowadays. Online courses, ebooks and tutorials are all things that can be found for free.
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It's safest to choose from top exchanges. CoinMarketCap has a list of crypto exchanges arranged by size. For example, Binance and Coinbase could be good choices. But the right choice also depends on the cryptos you want to use, different exchanges have different selections.
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June was a wobbling month in the stock market. Stocks went up and down, but most of them closed the month in the green range. To help you with your investment decisions, we will try to find the best stocks for July based on fundamental analysis. As a quick recap of June, S&P 500 rose by 1.1% while the Nasdaq composite gained 3.8%. The Dow Jones Industrial Average closed the month in red with a loss of -1.2%. In the matter of Gross Domestic Product, the Conference Board forecasts that US Real GDP growth will rise to 9.0% in Q2 2021 and 6.6% (year-over-year) in 2021. Following solid economic growth in Q1 2021 they expect the recovery to continue through the remainder of the year. Source and details in the Walletinvestor.com Magazine
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I think the original post poses a good question. Knowing where a broker's income comes from can be useful information, because there are brokers such as bucket shops and binary options where the broker has a conflict of interest with the customer, and those are important to avoid.
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I think if you feel like you couldn't hit the quota needed to get a bonus with your regular trading activity, you shouldn't try to trade more or put more money in for the sake of it. The downside of bonuses is that they can encourage overtrading.
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I think this just depends on your goals and preferences. If you only trade major pairs for example, it's not that important to have the opportunity to trade with a lot of pairs.
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Do forex brokers actually want you to succeed?
Dora Wi replied to David_Warner's topic in Forex General Discussion
You are right, ECN brokers are the best choice. You should also beware binary options because in binary option trading the broker also has a conflict of interest with you, profiting off your losses and not so much from your wins.