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aimhi
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Posts posted by aimhi
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I hope that LBlock might still be a valid option or have gone home for now but i bet that the forex trading is and will remain an evergreen market, whats your opinion is please share!
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Professional traders do the same thing as they buy when the markets are in deep discount and sell when they are at premium.
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In my opinion the market takes money from ill-disciplined and impatient traders and give it to disciplined and patient traders.
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There are more than 90% failure in this industry and the 50% of the remaining traders does not even stay in this market for even a year and they quit , rest are those who make their way to success.
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The broker need winning traders and returning customers in my opinion to make profits so agreed to your point of view.
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Yet this shorter cycle can make traders rich or it might only be a speculation for now and we have to see another all time high for bitcoin in future.
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MT4 is good and will be good until their parent company keep updating the software, later mt4 users will have to switch to mt5.
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I also look for major currency pairs usually associated with the USD for trading and any such exotic or minor pairs should be avoided while being a new trader in my opinion.
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Even a professional trader never know when bad day occurs so using a stop loss is a must otherwise one single bad trade can claim up to entire account.
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There are still many countries where crypto is still not taxable even there are no regulations related to it.
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There are many brokers like hfm etc which offer free demo trading to enhance trading skills so we can use them instead of live funds to make sure we got the right strategy and proper risk management to make money in trading instead of losing.
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I try trading with more than one broker for diversification purposes however i also interested in looking for some crypto trading opportunities since it is looking more profitable at the moment.
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I see these days almost every broker have started invested in traders' educational stuff.
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I have also heard that the brics is working on introducing their own currency like euro.
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Nowadays, everyone is speculating cryptocurrency as an upside potential however the bitcoin has already made a new all time high and now looking downward trend.
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Even if you are not trading still you need to spent time analysing the markets in my opinion.
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On 7/4/2022 at 11:57 AM, fxeconomist said:Can you please suggest any safe broker to start with?
There are many brokers in the market to give a try i guess its really becoming hard recommending any broker so a simple thorough research at one's own can be helpful in my opinion. So far i think we should only shortlist reputed brokers like hotforex, octa, xm, fxcm, exness, lmfx etc to finalize the right broker suitable to our needs.
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Did you tested the MT5 as well or still sticking with the older version..?
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On 7/22/2015 at 9:21 PM, SurtiTrader said:I am a teacher by the profession. I trade with Forex to earn some extra income.
I am sure you might be teaching forex skills to the students now.
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Almost we can start with smaller capital due to huge competition in this market and the broker usually take whatever amount we usually deposit with them.
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On 11/14/2022 at 4:05 PM, fxeconomist said:I agree patience is very underestimated in trading. I would say that trading takes 10% of time while 90% of time you monitor and analyze prices.
Agreed as 90% of the time we wait for the price to come at the reactionary level in order to initiate trading.
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On 5/16/2014 at 1:45 PM, fxeconomist said:You can make off living trading forex meeting 3 conditions:
1. Decent capital
2. Moderate Skill
3. Fair broker (Hotforex for example, which I trade with)
That's it.
Skills take time to develop and we need to trade on a demo account in order to remove financial loses because demo can be traded without investing any money with the broker.
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Every new trader lose money while some lose more chasing their lost money. Those who let go off these loses and learn from their mistakes eventually become successful traders in future.
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I believe that stop losses are good option to cut loses earlier before they blow up entire account.
Reading Charts in Real Time
in General Trading
Posted
Good one, i still remember when we were in our early days we use to buy when we see such cup and handle pattern on charts which never worked out as taught.