Those who are not patience in the forex trading or any other trading business should knew that this industry takes money from the impatience and give it to the one who has patience.
There are a lot many things to be done in the event of a forex ban which can still make some good money similar to the forex trading. We just need to follow the country rules and look for investing to other avenues where much money can be yielded too.
Regulation matters however we also have some bad examples of the past where even the requlated brokers turned in scam and don't know if the traders ever get their money back. In my opinion, the reputation of the broker matters the most so while choosing a broker we should pay attention to both...
Stop loss is must have in forex trading while journaling the trades can be good idea because they allow us to review our mistakes periodically and improve them.
Major pairs are always the best choice because they have lowest spreads as compared to the exotic and they also have more liquidity when compared with the other pairs.
It can be classified as most dangerous however if we think like this it will be more effective saying it is the most powerful tool in the financial world yet dangerous because if used incorrectly we can lose money in the market.
The beginners should trade a demo account downloaded from any broker like hfm etc and trade a minimum of six months before going to trade with live funds.
Forex is a buisness and we need to learn it while doing other works and once learn we should transfer this knowledge to our loved one so that they can also practice it and learn how to make money through it.
Bonuses somehow are good however all of them comes up with certain terms and conditions so if anyone wants to avail them, they better first read the terms and conditions before availing them otherwise it become bit difficult to reach the required threshold. I noticed that the bonuses from HFM...
The basic might be lack of knowledge otherwise the trader's job is to manage risks associated with the trades to make profit out of them. We have a lot of free resources to learn these days because of internet.
Made another ATH of 122k and hovering at 118k gained the eyes of investors, let see if the dust settle here or it make another move upwards making another all time high soon.
Most brokers also limit traders opening risky positions and it is good to use low leverage in start with proper risk management to become consistently profitable trader.
Good luck for you if you making money from this industry! I guess the beginners should learn and churn profitable strategy using backtesting on demo from any broker like hfm, octa, xm, lmfx etc before implementing them to live accounts.
Trading is always associated with risks of losing money and that what it says while going to any reputed broker like hfm etc, they always have a risk disclaimer so we need to manage our risks associated with our trading.