General advises and experiences sharing for forex traders

[Electric Rainbow]

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.

 

[Electric Rainbow]

The best way to overcome the fear of the unknown is to understand what trading is all about. You can expand your knowledge by reading good trading books and taking up trading courses.

 

[sunar14]

In the FX, you buy or sell currencies using currency pairs as instruments. Placing a trade in the foreign exchange market is simple. The mechanics of a trade are very similar to those found in other financial markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.

 

[Shing1985]

Forex always risky but you can minimize this risk with good plans and having good knowledge. Always learn it before start.

 

[sunar14]

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.

It happens because of impatience and careless attitude to potential risks. If you use stop loss you are relatively safe and can earn moderate returns.

 

[Shing1985]

Patience is the key to a successful forex trading career. Poor deals and unprofitable trades sap a trader's enthusiasm, but the patient investor recognizes these are inevitable effects of the market. Sticking to a consistent strategy even in the face of short-term setbacks is the key to long-term success on the forex market.

 

[radex78]

Naked trading without indicator, this is learn how to trade based on candlestick pattern and price action, a simple way to analyze the market and need more experience to figure out and make decision, but whatever trading strategy that implemented, all need good plan trading based on risk and money management.

 

[Shing1985]

In order to trade in the forex market, you need to study a lot about forex, you need to understand what forex works and how it works. Before trading in Forex, you have to gain experience by trading in Demo. However, if you make a profit in the demo, even if it is a profit / loss, it cannot be taken. But to find out the cause of the loss, there is a lot of interest that comes in handy in Real Tered. But in the demo, almost everyone makes a lot of profit without any analysis or guessing, which will not work in Real Tered. So it is better not to guess.

 

[radex78]

Forex trading is like fighting with your own selves, emotion is the big enemy during trading, if you cant control emotion properly, it will lead you to make bad decision trading based on luck only, we should realize if we can't control the market, but we must control our own selves

 

[Shing1985]

Money management is a very important issue in the Forex market. Money management is the lifeblood of the forex market. If you saw the news in the market, analyzed the market but you did not manage the money properly in the market, then you can assume that you * will zero your balance in a few days.