When I was a new Forex trader, then I didn’t know how to make dealing with the emotions! Then, over trading & over lots was my main problem! But gradually, I have improved a lot! But, I don’t open any trade position instantly without enough preparations!
Last week, I made 170 pips here (by 2 sell trades)! Yes, the trading spreads is high here so I use CHF related trading pairs only when I have perfect confirmation from my personal trading strategy! By the way, now I am interested to buy here!
EUR/USD is my favorite trading currency! As like others newbie, I also started my trading with EUR/USD trading pair! Till now I get best accuracy from my personal trading strategy, that’s way I prefer most EUR/USD.
Frankly, it’s not my hobby! Forex is my main source of income! In addition, I am working hard for being a consistent player here! Hobby means, not a professional result! But here I am for making a decent monthly income as like a pro trader!
If you analysis this thread, you get more than 95% members are with Mt4! That’s the real scenario! Yes, I am also with Mt4; most easiest trading platform ever!
If your broker doesn't complete your transaction, that means you are trading with a scam broker! Basically, market maker brokers always block trader’s capital after making a huge profit! But, true ECN or STP brokers are different!
According to me, only 3 months is not enough for a newbie! Basically, new traders need to start their demo with a learning mentality without any specific target like 3 months, 6 months! They should try until make a consistent result.
According to me, NFP is the most interesting news event! I use pending order strategy during NFP news! In addition, the success ratio of NFP news is above 70%. So, I willingly use this strategy during NFP news session.
Demo account was my main weapon! On the other hand, popular Forex forums helped me a lot! I found, instant solution of my trading problems from the senior members of Forex forms! Thus I complicated my technical and fundamental learning process!
Yes, we can’t ignore this issue! But I have seen, there have so many Forex traders who are interested to learn but they don’t get enough direction! In Forex, good educational sources are not available here and there, this kind of service is very rare!
This is way, I prefer demo practice! Even, right now I am active in the demo for updating my personal trading strategy! Besides, I make 5-8% monthly return (in average) in my live trading account!
You can reduce your trading lot size! On the other hand, a logical SL setup always will help you to make a regular profit here! So, try to set SL according to the market context!
Yes, so many free learning sites there; but it’s not an easy job! I see, many traders are interested in learning but they don’t know where and how to start!
I think, Stop Loss trading tool is obvious here; but using a fixed trading lot size is not proper way of trading! I always set my SL and TP in order to the market context; so I face TP’s more than SL.
I appreciate your trading tips! By the way; success is very costly here because; there is no enough number of trainers! On the other hand, scammers are available here and there, so new traders don’t get proper guideline here!
Thanks for your info! Yes, there have lots of parameters so no one can guarantee here! By the way, good skilled Forex traders can predict the market so keenly because of their trading knowledge and experience!
I am not sure, about their policy! But, it’s a bad news for the retail Forex traders! Whatever, scalping is the most popular trading system here that is used by retail to pro traders!
That is the real scenario of new Forex traders; in addition, now I have already overcome from this type of critical sessions! Right now, my monthly trading target is around 15%, in addition, I can make this target so comfortably because of my healthy trading equity with my 6 years experience!
You can try, it’s an open platform! But to be honest, you are o the danger zone; you can crash your whole balance at any time! Pro traders are consistent because they use money management and risk management rules so sincerely!
I have seen, many new traders are scared about this statistic! By the way, new traders should concentrate on only their learning process! If they can earn technical and fundamental in the proper way, then success is obvious here!