Considerations for a Wannabe Trader...

[Considerations for a Wannabe Trader...]

On 9/2/2022 at 10:07 AM, CrazyCzarina said:

Successful day trading usually requires a lot of effort to develop the necessary skills. Many day traders have some innate qualities to get started, but must work on others. Successful traders develop discipline, patience, adaptability, mental toughness, independence, and forward thinking.

Agree, day trading is the best in my view since prices are less predictable in the long-term as you can't predict random shocks that hit markets like Covid

[Real Estate or Stock Market?]

I apply diversification in trading using tips I got from Hotforex webinars. Learning approaches how to manage risk and increase risk-reward ratio in your favor is an essential part of trading.

[Applying Joe Ross Trading Methods]

On 9/4/2022 at 6:46 PM, Patuca said:

These support and resistance areas can in fact give an edge. But not necessarily a guaranteed edge. Nothing is guaranteed in the markets.
 

Support and resistance are indicators of where the  institutions have battled it out since they control price movement. At all times there are bullish and bearish institutions in the market. Price will be pushed and pulled to resistance and support. At those key points one side will win over as both are usually exerting pressure. If bullish institutions win then there will be a BO of the resistance. Likewise, at support if bears win price will break out of support. They key  imo is what happens right after the BO. Is there a PB then a continuation or is there a reversal? Bears will try to reverse a BO of resistance.  Bulls will try to reverse a BO of support as price moves down. 

I like to trade support and resistance levels, however efficiency of this method is much higher on crypto especially on 15-30M timeframes. That's why I trade BTCUSD and ETHUSD pairs on Hotforex and dropped FX almost completely except for swing trades that are held for 3-4 weeks 

[Breakout and Swing Stock Ideas]

Great analysis, btw do you also apply it to currency pairs? I keep short EURUSD position on Hotforex anticipating hawkish US inflation print this week and subsequent dollar appreciation. What do you think?

[Forex Trading Tricks]

On 8/22/2012 at 6:25 PM, Guest Kittyraj said:

Friends share your forex trading experiences and tricks here......

My favorite trick is to use trailing stop loss in trending markets, though it is difficult to identify trends, when you manage to do that you great increase expected return while keeping risk the same as in the case of fixed stop loss and take profit settings. 

[Breakout and Swing Stock Ideas]

I also trade stocks using CFD contracts at Hotforex it is cheaper also they added possibility to receive dividends. Basically it means you don't need to sign up with US broker and experience all this hassle and instead trade with FCA regulated alternative. 

[Considerations for a Wannabe Trader...]

First and foremost wannabe trader should realize that there is no holy grail and losses are integral part of trading. That's why he should focus on risk management - accepting loss where subsequent price evolution says that trade idea didn't work out. 

[Reading Charts in Real Time]

Looks like EURUSD will break parity soon, keep making pips from my short position at Hotforex

[Breakout and Swing Stock Ideas]

What do you think about S&P 500 near-term direction? I keep short position at Hotforex but market increasingly looks bullish as recession fears find little confirmation in incoming recent data. 

[Lucky Block Prize Surges 25% On Jackpot Draw Eve]

Guys anybody tried to trade US Indices with Hotforex? Is it better to enter at the start or the end of the session to reap max profits? 

[Breakout and Swing Stock Ideas]

I don't like to trade breakouts because they are accompanied by high volatility which is sometimes hard to manage. That's why I prefer to trade trends and range with Hotforex.

[Cryptos Too Slow. Can’t Scale, Too Hard?]

I like crypto volatility and price action around key levels I determine. Much more trading opportunities than in FX. That's why I started to spend more time to crypto CFD trading with Hotforex - price replicates movements of btc price on exchanges while funds are secured. 

[how banks manage their financial products]

As far as I know commercial banks in the US can't participate into stock market trading so I guess they create separate facilities for that with separate balance sheet. I heard that my broker Hotforex has institutional clients, it could be banks also, so there may be a kind of special relationship between banks and fx brokers.

[How can I choose winning cryptos?]

I rather prefer to make money from price fluctuations than from buy and hold strategy which becomes more and more controversial for crypto. Crypto offers good volatility and behaviour near key levels determined by technical analysis that's why trade major crypto pairs with Hotforex. 

[Which Platform to Choose?]

I use MT4 trading platform from Hotforex, I think it is sufficient and pretty functional for occasional trading and speculations.

[DeFi Coin (DEFC) Price Rises 175% in a Day]

What do you think about trading crypto pairs with FX brokers like Hotforex? Any advantages in this?

[I Need a Good Broker!!]

Hi,

I chose Hotforex. They are working with a few partners. They have also personal trading support, so its also good for beginners.

[Consistently Losing]

The key reason why traders lose is because they ignore money and risk management practices. If you make mistakes you have to make sure you pay as less as possible for them

[Why are all major stock market indexes so correlated?]

On 7/26/2018 at 11:18 AM, nameeta26 said:

I want to learn more about stock market. Please help.

Correlation arises from the fact that two key drivers of market gains or falls are risk-off/risk-on sentiment. It is applicable to every asset class and every instrument inside a particular asset class. When growth prospects improves or monetary/fiscal stimulus is used risk assets start to offer better yield outlook (some equities offer higher, some lower return outlook but direction is the same) and vice versa when growth outlook deteriorates investors flee to quality or bonds. 

[What are the best trading courses?]

The best trading course I tried is Hotforex webinars with Janne Mutta learned a lot from it especially regarding technical analysis and how to use its tools properly. 

[The Aim of Trading for a Living]

On 4/28/2022 at 12:23 AM, aimhi said:

In forex trading we are already risking our hard earned money to make more money and that's why we also have to make strict money management rules and then stick to them.

Can you please suggest any safe broker to start with?

[Seeking Mentorship]

On 11/8/2021 at 11:27 PM, CrazyCzarina said:

Forex Trading is a very risky business and if you are a beginner, you should have a mentor to learn it all.

It can be risky or it can be safe depending on the money management rules you set. Tight stop loss like 10-20 pips will make your trading quite safe. 

[I Look Back Now and Wonder]

Thank you for the advice. Being a new trader which just have started its journey with Hotforex, its really helpful and will look forward to study the market even more.

[Which is good for investment?]

On 7/31/2019 at 7:39 PM, felixsam said:

I would think about it, but without a doubt ... I think ETFs are the best option.

Apart from ETFs I also like to invest in stock using CFD contracts at Hotforex. This contract doesn't pay dividend but well you don't need US broker access to which could be quite complicated due to regulation, also transaction costs seems to be lower. 

[How to post a chart properly]

I love to use candlesticks when analysing prices at my Hotforex platform, I found that candlesticks patterns statistically meaningful on some pairs and during certain times, the only problem is precise definition of candlestick pattern which I try to develop currently to put it into my automated trading algorithm.