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pepy
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Everything posted by pepy
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@radex78 It will happen if those traders cannot focus and only think about the temporary matters. Basically, leverage is so much helpful and help traders a lot, and the more traders feel helpful they overuse this powerful feature, and this si the problem start, because of the high leverage traders can obtain bigger lot which they cannot bear.
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Yes,it will make live harder because of that very high dream which maybe need more time or we simply cannot reach it but if you were able to reached it then it pays off. 1:1 is not general but the lowest ratio that you should set. Your profit will be equal to your losses, thus minimizing more risks. The ideal one is 1:2(SL/TP) since if you make profit once you need two losses to get nothing.
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As long as the market on your demo account reflected the real thing which happened at the real market then i say you must use it. Demo account not just for gain experience but the place to make an experiment combining with the nature of real reflection of the real market, you gain better understanding of foreign exchange.
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To be honest, broker with the lowest spread is fixed spread broker since you can find most or all of them use very low fixed spread to attract more clients to join and use their services. The most popular type of those fixed spread brokers are zero account, or the account where your spread is very low (0.xxx) because of that zero nature marketing people fall for it, most of them.
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Well that is right beside if you addicted to forex no one would care about you, and the worst your real-life ruined. I know this sounds like bad thing but this is real, so avoid your addiction to forex. Just trade when the time tells you so and don't push yourself. I see the sign of greediness as the part of forex addiction.
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@radex78: I don't know if that is so simple, but actually you need to learn it and sometimes it is not as accurate as it seems, but still good if you love to combine it with other type of analysis such as fundamental. Consistency however come up with willingness to survive in foreign exchange, and if someone want to be a consistent traders persistance is a must follow the rules and keep doing that with small change if needed.
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@radex78: If only, but in fact not everyone could do that, there are many people who trade in forex but in the end gain nothing with many factor which become its cause. If we look carefully how do i spend profit from forex trading thread talk about the best way which is not exist. There is no the best way unless you add one or more variable, if you want pursue more profit and gain bigger income then compounding is the best way.
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On H1 chart, the price already broke resistance but Stoch show that there is chance for bearish to press down because the price already near overbought. But because of resistance has been broken i think the price may rise a bit 0.77551 could be the highest target for AUDUSD. The worst scenario is if the price cannot touch it then it wil fall to near pivot level today, especially during NY session.
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This pair affected by Yen's weakening which is pretty significant thus the price now only rally but it seems that this movement won't be like that for long, if based on KDJ which starting to form a crossover looks a like near overbought zone and RSI(14) confirmed the same thing. For now the trend seems push this pair to rise but i think after Tokyo session end, that time for bearish.
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On H1 timeframe, it seems that according to heiken ashi this pair is under bearish pressure, yet the same indicator such as RSI also showing the same result indicated that the price will have continuity, also one thing worth to mention is the pair opened below pivot level today means that more huge pressure, so my prediction this pair is under bearish pressure up to NY session start tonight.
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This is the common line that i've ever heard but i must agree that we all must or someday will experience loss and the best way to gain advantage of it by learn about it and how to deal with that loss. I usually just let it go, since i already use a good risk management but loss never be a good thing to remember, and also if there is an advertisement about 100% never loss strategy then that is just a bullshit.
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That is never be a good idea, to be honest using your own gut when trade in forex means gambling, i know this forex is not really certain but it doesn't mean yo can simply ignore the fact that you can also use your own analysis to make a more compact and solid speculations. Forex and Gambling are based on speculations but forex based on solid facts that has lower chance to say otherwise.
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So that is why the best place to make practice is demo account, no money to spend, virtually you trade in virtual account which means that you spent nothing and if you lose you don't lose your real money, maybe in this account your emotion kind of won't meet your expectations but at least you still learn how to deal with your emotions like greed or fear
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Each broker must have claimed that their brokers is the one which has thinner spread than others, but according to my analysis, most TRUE ECN brokers has overall lower spreads compared with other Non Dealing Desk broker type, but the lowest is actually dealing desk broker because spreads 0.xx and never changed, which known as zero spread account.
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Well actually compounding your profit or spending it isn't matter I think the most important is how a trader is able to manage the money, so if they want to compound or withdraw the money that would not affect their own trading it would be good if the impact for that action(spending the profit) is bigger like make the more motivated with forex trading.
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Why should someone remove him/herself from forex if forex is their own main income? What addicted should be redefined here, if i am a trader and keep trading in forex for the sake of getting money, isn't that addicted? What i think as addicted in forex right now is someone who cannot control their trading, greedy, and doesn't care about their own social life.
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Importance of Demo Account/virtual account in Forex
pepy replied to abdulla1's topic in Forex Newbies
Just say that the market doesnt have demo account or virtual account, imagine how much money we should spend for the sake of trial and error in real account, or how about those innovative strategy that invented recently? You won't see that, demo account is not just the place to teach newbie but it is a good place to do an experiment, or to test someone's strategy, importance of demo account is vital here. -
Of course which part of scalping which is illegal, i want to know. Also i never heard anyone said scalping is an illegal action to do beside hacking the price feed. Overall, that broker just don't have much money to sustain their own server just like what i'm suspected, and this is the worst thing for traders who want a reliable broker. A big pain i can say.
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Well in 2 market open mean that there is overlapping and i agree with you this is the best time to trade since liquidity is high and the volatility is under control or we can say more predictable. The right timing usually is at around 5-20 minutes after some news release, i suggest it is good for someone who did fundamental based analysis.
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That is right, many people do that for the sake of getting more income and nothing wrong with that except there would be more load since you must balancing between the two. And focusing on two jobs requires more efforts. Other than that, as you say the risk on FX is relatively large therefore must be careful to act.
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But that is not enough, forex need more than that hardworking alone won't make you gain much profit when you trade. To be prosper in forex, you need to know when to trade when not to trade. Also always cautious when trading and never let your greed to overcome your mind. With that and take some time you'll be able to prosper in forex.
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Mistakes that Forex traders are likely to make.
pepy replied to mody.saied's topic in Forex General Discussion
Actually there is no one and i also don't expect something like that, who want? Aso from my own perspective, mistakes that forex traders are likely to make actually coming from theirselves, something like greed or miscalculation are common things we heard as the excuse for their mistakes. -
This is why forex become more accessible rather than other kind of business, and also with MT4 for android people can access the market anywhere as long as there's internet connection(wireless). Forex trading is basically about sell and buy and it doesn't mean to do only for desktop trading. Profit also based on the difference between our opening and closing position.
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Gangster maybe do this thing but Mafia or more organized crime should use it. Forex is one of the most open business i've ever see, everyone as long as they have an account and don't have much problem can join, and the one who trade could be other people and when it comes for withdrawal the other poeple will do that.
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Not maybe i think, because all of those people fails because of that, mostly. They fail because lack of knowledge, experience and emotion control. Most of them are actually newcomers who still need time to adapt. As for trend yes, sometimes it is unpredictable but it doesn't mean you fail suddenly just because of that, this is why risk management is important here.