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pepy
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Everything posted by pepy
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It seems people will always be connect between a scam broker with forex as whole, just like what myregister said it because of broker is the part of forex ecosystem. In the end for somone who have knowledge shouldn't think like that isn't it? And i agree with myregister, that forex ecosystem is so big that even bad person can trade inside.
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We will lose someday, face it!. But it doesn't mean that you must lose to be a success. What you MUST do is not loss but trying not to lose. Trying to make more profit and you will become a success. If you haven't suffer any single loss yet, it is good and keep trying to trade without any loss as long as you can.
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Well, necessary of course, but no so necessary. You can be a trader without anyone guidance, but it would be good to have guidance from someone who also have more experience than you, aside guiding you the progress would be so much faster than learning forex as lone trader.
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It still the same if we look through that point of view, Forex will looks similiar to gambling because of that and actually if you want to try gambling you will find the way people predict the result more like forex, but only one thing that i see as difference that forex offers flexibility than gambling.
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It is because Yen is strong, you can see how Japan's economy survive from disasters from nature or even from human itself(ex: war, internal problem, and others). It is not exaggerating to say that Yen is safe haven currency for us, that is because this one really act like that and deserve to be it. Not to mention it is one of the creditors in the world.
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True, one's forex earning should be stable and also relatively bigger than mainstream jobs. I personally see make a living with forex alone is plausible thing, people can start business and get money from it, it's the same with forex for sure. As long as you able to manage the risk make a living with forex isn't just a dream matter.
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It will be and always be demo account, the most suitable place for someone to practice. In demo account the risk is lower even we still can lose, why? You can create an account with high amount of money and if you lose you can create a new account with the same amount of money or even higher
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Broker earn money from spread also they can earn money from other stream. One of the example is FXDD, they earn from spread and comission plus it also has proprietary technology where they "rent" to the other instuition. So with this alone we can conclude if a broker want they can earn not just from spreads.
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Unintelligent risk? This is first time i've ever heard that, but when you mentally strained and force yourself actually isn't very good idea, It will only bring a lot of trouble later which for sure you must avoid as much as you all can. People who mentally strained usually cannot accept the reality that forex is harsh, know no mercy, volatile, and seemingly non-profitable.
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Not a big deal? What you mean? Are you kidding me? We should never be greedy and also if you satisfywith your trading so far you won't see any expansion with your career you will be stuck, for example you start with hundred dollars of capital but few months later able to expand to thousand dollars of capital and stuck there. Isn't that really bad for you?
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That is good but it doesn't means you cannot make it as your main job, but people prefer not to sacrifice their main job which give the stable and strong residual income even not so big like forex and then forex come as backup which become sidejob since it is unstable but still can give bigger income than their main job.
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@myregister: Even it is actually unsecured by with encryption we can feel secure and moreover, Mobile Phone is a nice platform for trading. Not just like what you said but it contain a portable device where you can just directly trade anywhere and anytime, giving us to act no matter what is our condition except when we are sick for sure LOL.
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If they don't know how to trade or if they have other things to do like manage the other account directly they can do that but if they don't have it then i think they shouldn't hire or use forex robot especially when put it in VPS which is cost more than shared hosting. FX robot is meant for VPS since VPS act like virtual computer for you.
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This is true that you shouldn't be satisfied so easily but never be greedy, because greedy means that you won't be satisfied no matter what maybe until you suffer a huge loss blow then you will realized that you are wrong and make such a huge mistake, so this is hard to be in the middle not to be satisfy easily and greedy since it is more like a grey area but i do believe with more practice you can be different.
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@Myregister: Well it is vulnerable for sure, as for trader their credentials data could be taken and this is a bad news for us, which means we may lose more of our money later or somoene may rob our profit that we have in our account, but with mobile phone everything seems easy and more mobile for me LOL
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Depressed is normal make sure you are getting used with it beause i see that your future maybe hard since you are easily depressed and seems doesn't want to get your foot back after that. Loss is normal that is what you should tell to yourself, to be exact unintentionally loss or so called intelligent loss the loss because of your prediction is wrong not because you are too greedy or sway by your own feelings.
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@gober: In every field we can see some genius dude, some of them even effortless when doing something because they are talented. It seems that i and myregister reached the same conclusion here that man/woman who are prodigy in forex will have better view about the market and they will lean it relatively fast, so for example i am an average man takes around 2 years to be a forex master while myregister is a prodigy maybe takes at most 8 months or 1 year.
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If this is happening to you then you must have backup plan or plan B, or you can simply cut the loss directly if you think that is the best situation that you can do, if that's a trap wait for around 1-2 minutes if that is in very volatile condition. Moving against prediction is very bad situation for fx trader but we as trader must prepare for it.
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Unemployment rate at certain situation could beat the effect of inflation. Inflation is good but i prefer all of those high impact news because it will truly drive the price up to higher rate or even pushing it fall below of our own expectation. In this case Whether interest rate, inflation or unemployment rate are important.
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Platform Malfunctions:- A Trader's Worst Nightmare
pepy replied to mortijoon's topic in Forex Articles
One of the biggest worry from me about this if happening is when it is time for me to open a position, once this happening i cannot even open a position and make myself lose more profit, it is not a good idea if our platfrom suddenly freeze or malfunctioning. -
How the CPI Economic Indicator Impacts Forex Trading
pepy replied to abdulla1's topic in Forex Articles
At least i have around 3-4 indicators to choose if i must trade with that pair or not. CPI included inside because people will mostly look at it even that is NZD CPI the result would be so good to follow, It would bring impact for the price and in long term it would be around 100-200 pips movement. -
Education and experience is matter, people with a good education will be able to perform better but as long as you have good experience and keep learning this wouldn't be such a big issue. Experience will bring a trader to the whole level that they don't even know before.
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What are Your Options Regarding Forex Options Brokers?
pepy replied to lanretuase's topic in Forex Articles
Options seems a bit like gambling, but actually if we can grasp the fundamental of it then it will be like forex, we predict in for example 30 seconds the price will be higher than the current price, if that is true we will get profit from our prediction. very suitable for newbie -
Forex: Why Psychiatrists Make Better Traders Than Expert Economists?
pepy replied to abdulla1's topic in Forex Articles
That is just a common wrong issue that resurfacing, psychiatrist could be a better trader than expert economics but it doesn't mean that it would be the best, without any understanding of economic how can we say psychiatrist is a good trader? Soros like you said even not a psychiatrist and can earn better thatn rest of us. -
It's not stagnant but has low growth rate, and if you compared it to the other then Okpay could be considered as good enough not to mention it has many features that help traders but still i feel bored with them and also it is hard to find exchangers that want to buy them at competitive price.