There have so many ways of Forex learning, I think trading Forex eBook is not obvious since there have so many alternative options, like videos, webinars and Forex Forums! I have leaned mainly technical and fundamental trading by using Forex Forums!
If your strategy supports you to trade intraday basis, then no problem actually! But, if you are a swing and positional Forex trader then no way! By the way, I like to take intraday trading opportunities! In addition, overall I am a positional Forex trader!
A volatile market is useful for the knowledgeable traders, but it’s not for the low skilled trader! Maybe they lose their money too early because most of the time they open their trade positions in the opposite direction of the Forex market!
It’s not easy to take Forex trading business as a main source of income! Because, it’s very challenging profession! I think traders should take this profession as their main job if they are successful in their demo otherwise not!
That’s the point; an SL trade can help you if you want to learn from it! Yes, it’s our job to make the analysis of our SL trades! Before I lost my momentum so easily when I faced SL trades but now I am not! I am always ready to learn.
This is way, I use stop loss trading tool in my trading! When I was a new Forex trader then I used narrow SL’s in my trading but I use flexible SL points in my trading! Really, buffering strategy on SL and TP helps me a lot to make more money in my trading.
I must say, 20% is such a standard monthly return! You are looking like a pro trader! I am very much interested to know more about your learning procedure! What’s the name of your trading procedure?
Absolutely, more than 90% new trader lose their initial live trading balance but which traders practice enough with demo capital they can enjoy their live money! Forex is not easy way of money making, its very smart profession.
I don’t think, Binary Options trading is a profession, it’s like a game or gambling! On the other hand, Forex trading is different, here you can’t make money by gambling! This is why, I am a professional Forex trader and Forex is my only one income source!
I do agree with your opinion! There is nothing like shortcut way of success! It’s a long term process! This is why, all of pro traders have such a long time trading experience! BY the way, I am on the way of success!
The traders, who have any tendency to make huge amount of money here within very short period of time without proper trading skill, they mainly rely on their luck! But reality is, it’s not possible to make money based on luck! It’s all about trading knowledge and experience.
You are right! Fundamental analysis s much important than technical in this case! This is why, which traders have good trading skill on the fundamental sector, they are making enough money by trading commodities.
Even, I have seen many traders are trading without any trading strategy. So it depends on your trading personality! By the way, in my live trading, I am following only PA trading strategy; it works on all kind of trading instruments!
No I don’t prefer option trading; because it’s too much fast! I do trading as my main source of income! This is why, Forex is my 1st choice! Here I am using swing and positional trading styles; yes I am comfortable with long time trading styles!
But, I don’t think so! Yes, it can be if traders try to scalping without enough knowledge! Here, traders can use low SL points, so scalping is relatively less risky than others trading styles like swing and positional trading.
I see, emotion is one of the most common problems here! Basically, maximum new traders don’t know how to make dealing with emotions and greed! It takes long time experience to be a self-controlling trader!
When I was a new Forex trader then I didn’t use commodities because of my low trading balance! Then I was active on the only Forex! By the way, now use Forex, Indices, and CFDs; I enjoy Indices and CFDs as well.
Agree with your analysis, bulls are dominating this trading pair right now! Although, there is no favorite pattern right now because I don’t trade without confirming the market by popular patterns like pin bar, inside bar, outside bar etc!
I seem, it’s a down trend so right now I am interested in only sell trade on silver! 17.00 is a good level if I get any sell opportunity here definitely, I’ll take this chance without any hesitation.
Last week, I have made almost 470 pips by selling this currency pair! In addition, in this week, I have also with the same momentum! Maybe there will be few buy pressures, but I am sure sellers will dominating this pair very soon.