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adil007
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Everything posted by adil007
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I think that managed accounts are somewhat better for newbies, newbies should probably try to give as much time as possible to demo account meanwhile enjoy little profit by managed accounts if they so desperately want returns from forex trading. They can in the time increase their skills.
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Yes that is true that each account is made for a specific purpose, however I have noticed that many traders do not like trading without their investment on the line meaning that they get more interested if they see the profit being turned into reality and not staying a virtual amount like that in demo account.
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Studying forex trading is not difficult at all what we all need is determination to study forex trading, once we have that motivation we can explore a lot of different sites to acquire the knowledge needed for doing forex trading and start by using a demo account for practical experience.
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Well yes the market is always closed on weekends just like the weekend is not a working day in other offline jobs as well, same is the case with forex trading traders get to have rest on the weekend and the market reopens on Monday. It is a good thing because consistent trading is not that much good for our health as well.
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If you take a higher leverage you should also know that it would definitely increase the chances of us getting our account washed up during our trade if we make a wrong analysis so we should try to aim lower since $1000 a day is a big aim which cannot be fulfilled easily so we should not risk our money for greed.
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One more advise to a newbie trader from me would be that one should never lose patience and become impatient, it would most likely lead him towards loss because he would be going things or trying to do them quickly and overlook important matters due to this which would bring him loss so if he wants to avoid big losses one must have patience.
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Well definitely the answer to this is a demo account because that is the place where most of the traders practice, on other hand real account can also be used but that would mean real gains and real losses so we should only do that if we have ample amount of money.
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Exactly, on other hand it also depends on the factor that with which kind of mentor are we more comfortable with and also the communication skills of the mentor matter a lot in this matter. In fact there are a lot of factor so we cannot decide by seeing one thing.
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If talent is even though God gifted we would definitely need to polish and improve ourselves by our own hard work as well in order to become successful, one cannot become successful if he is lazy and is not making any efforts himself so we should not think that one is born with all the knowledge, luck might be a factor but not a major player.
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@myregister you are right that we also need to see how much our account balance is before selecting the leverage for our trade since if the amount is minimal first of all it is not good to trade with very low amounts but instead a little more investment should be added and trade should be made with normal balance using low leverage.
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Well in my view demo accounts are always free from the brokers, at least from what I have seen till now all the brokers where I have been to offer a free demo account since this is only for practice and learning and nothing more and they are really important to learn from our mistakes in real trades.
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practice to be consistent on the profit obtained
adil007 replied to rizal83's topic in Forex Newbies
I think the more we trade it does not matter in which account whether real or the demo account we are definitely going to learn something out of our trade even if it a loss or a gain so if we do not like trading in demo account for learning and practice we should do it in the real account as well with very low lot sizes so that losses are minimal and if we make gains we get glad about that. -
Brokers earn when we traders earn, most probably a broker is to earn a lot more than an individual trader even though the spreads are kept low since a lot of traders would be making gain from market movements, we should not worry about how brokers are earning but concentrate more on our trades.
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Ever burned your A/c due to forex margin requirement!!!
adil007 replied to yogeshwartyagi's topic in Forex Newbies
This thing can be said to be natural in forex tradnig, since we are to surely encounter a lot of moments when we would be burning our account losing all of our investment, but again we should not be scared or discouraged if this happens but try again after improving our skills with determination. -
Can no deposit free money help you achieve success on forex ?
adil007 replied to kaito kid's topic in Forex Newbies
Success in forex trading is based purely on our skills, since we are to maintain consistent profit from our trades to be recognized as a successful trader thus this question is not the case in forex trading, the thing is our effort which leads to our success in forex trading and nothing else. -
No risk means that we would never have to suffer from loss during our trades and since we do suffer from loss in our trades then there is no way to avoid the risk, we can only minimize it by using risk management techniques and lowering our lot sizes.
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I do not think that it would be advisable or that much safe to invest with them because they are like giving the double back so it is pretty risky and I would not risk any investment in it even if minimum is low over here at this hyip and would advise people to stay away.
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Well I think that if a person is determined he/she can jump into the forex trading platform without a mentor, having a mentor does not mean that we would not have to work by ourselves, we would of course have to make effort by ourselves still then as well so it is better to make it ourselves right from the start.
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Well I think that I would prefer a live mentor but in my view it is really difficult to get a live trader and we might as well only be able to gain access to an online mentor, however it also depends on how good our mentor is in his own place.
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There are many brokers which would provide a free demo account, for instance insta forex provides a demo account, also mayzus and if I am not wrong fresh forex gives demo account as well, and demo accounts are always free since they are for practice.
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practice to be consistent on the profit obtained
adil007 replied to rizal83's topic in Forex Newbies
Well yes this is true that our earnings depend on our skills and the more we practice and stay in the trading platform the more we get to learn and in turn the more profit we can make so we should not think that practice is only needed in beginning but is also needed afterwards to continue to polish ourselves. -
Well brokers earn by spreads mainly which is in a way their commission and they deserve this much at least since they are providing us with the opportunity to earn and providing us their services. However spreads are not that much high that we should worry about.
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Forex and gambling cannot be the same thing in my view, we have to do a lot of work and do a lot of practice as well as but in gambling we can earn dependent on none of these but pure probability and our luck. so we should not think of them as same since not only this we have to stay connected to market if we want to earn in forex trading.
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We should understand one thing mainly in forex trading or in any field of life that nothing is going to be easy for us, if we want to earn from forex trading we would have to work for it and a passive income from forex trading takes a lot of time and practice in it so we should not think of trading as an instant money place.
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Well I do not really think that this question should might as well arise since how can we think of succeeding in a particular platform without giving it the time and attention it requires so obviously it is simple that we get what we work for so this thing is a must.