General advises and experiences sharing for forex traders

[Aaron_0]

Leverage can make you profitable, but first of all you have to ensure sufficient trading balance real risk managing plan. Otherwise you can be a loser by using leverage.

 

[Callahan Sinclair]

Yes, I’ve traded both. Stocks offer long-term growth and dividends, while Forex provides higher liquidity and 24-hour trading with more volatility. Forex suits active traders, but stocks are generally less risky and better for steady, long-term investments.

You're right. Same idea.

 

[RainbowRain]

To overcome fear, you need, firstly, to create your own strategy with clear and understandable rules and an algorithm of actions. You must understand when to enter the market, and when to wait, where to correctly and reasonably set stop losses and take profits. Secondly, you must trade with risk control, correctly calculating the size of your positions according to the rules of risk management, in this case your losses will be minimal and, accordingly, there will be much less fear before the next trades.

 

[CharlieWharton]

Some losses can occur, it's a part of the business.

 

[CharlieWharton]

Everyone wants to be a winner. Lol

 

[CharlieWharton]

Yes, I’ve traded both. Stocks offer long-term growth and dividends, while Forex provides higher liquidity and 24-hour trading with more volatility. Forex suits active traders, but stocks are generally less risky and better for steady, long-term investments.

I agree with you. Nice said.

 

[RainbowRain]

In addition to a reliable trading plan and risk control, you also need to be psychologically prepared, able to control your emotions and have discipline. Only then will you be able to strictly adhere to the rules of your strategy and trade systematically and only under certain conditions, without succumbing to greed, excitement or euphoria.

 

[RainbowRain]

I think that using stop losses is an integral part of successful trading. After all, in this way we have the opportunity to reduce trading risks and minimize our losses on unprofitable trades. But in order to reduce your losses, it is important to correctly calculate the size of your positions according to the rules of risk management, so that activating a stop loss does not bring a large loss.

 

[RainbowRain]

Yes, patience and discipline are equally important. Without discipline, we will not be able to trade successfully, because without being able to disciplinedly follow all the rules and conditions of the strategy for finding entries, exits and correctly calculating the size of their positions according to the rules of risk management, the trader will suffer only losses. Without patience, the trader will not be able to wait for a good deal, correctly and justifiably hold their positions open until the take profit is activated, and also not rush to recoup after a loss.

 

[RainbowRain]

The market can be quite unpredictable during such pre-holiday days. Many large market participants go on vacation, so liquidity decreases. With low liquidity, even regular orders can cause abnormal movements, and false breakouts often occur, which knock down stops. That's why I don't trade at the end of December.