General advises and experiences sharing for forex traders

[JonDir]

It is easy to talk about it, but it is difficult to do it.
News is a good indicator of a spike in volatility.

 

[sunar14]

Just don't give up and success will come. Sometimes you can face really bad trading streak and if you picked worn trading size or increase risk looking for quick recovery you can easily get margin call. You should stay strong in the times of increased vulnerability.

 

[Shing1985]

Forex trading is not a trick. If you do not have experience in forex trading then you may be facing a lot of problems. Your account may also be compromised. Get acquainted (gain, obtain) with present and future seniors members. Then you will be able to do successful trading which will bring you huge profits.

 

[Toliman]

Forex is a proper business and we only can make good money if we have good skills and knowledge. Always learn the basics of forex and try to do demo trading.

 

[Toliman]

Is forex addictive?

 

[Elijah_0]

Strategy-development should be the first and foremost preference of a trader because if you take an interview of expert traders, you can see that every expert trader has their own way of trading. This strategy is made according to their experience over the past years they traded Forex. It is not built overnight, so flourish your trading with a better strategy.

 

[Elijah_0]

Setting a stop loss is an integral part of successful trading. However I think it is ridiculous to set a stop loss of 10 pips because minor fluctuations can close our order. if we place a stop loss very near like 10 pips or 15 then a good order can be closed with a loss. I prefer to place a stop loss at least 30 pips away and usually place it from 30 to 80 pips depending upon the trading strategy.

 

[Elijah_0]

Most good traders use a mixture of both processes, technical and fundamental. For example, a trader might see that a country is currently facing a particularly strong hurricane season (fundamental) and know that in the past, strong hurricane seasons have meant a weaker economy for that nation (technical). Thus, he can predict down-turns for that nation with some degree of confidence.

 

[Elijah_0]

Almost all methods give profit if you follow the method properly. Most traders take impulsive decision while opening a trade even when they method doesn't allow them to open the trade. So controlling emotions is very important.

 

[Elijah_0]

Fundamental analysis comprises the understanding the total economy. It is not just the economic data. Market moves according to the all statistic graphs. You have to judge any data release as whole. That's the reason fundamental analysis is more complicated than technical analysis. You should have sound knowledge on economics.