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myregister

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Everything posted by myregister

  1. myregister
    Self taught trader is a good way for someone without funds to hire a mentor. Not an easy path but still possible to reach a better stage. Your skill will improve but with smaller pace. I do recommend to keep visiting a site that contain valuable material about forex and how to forex site. But still if you want the more effective yet efficient way, use a mentor service would be a very good idea.
  2. myregister
    I think when brokers choose a lax regulator to regulated them, everything would be worst. If the broker is a really good broker and want to do a business in long term(not just become a bucketshop broker) then they should choose a strict regulators, not 100% but a good indicator to see how honest a broker is.
  3. myregister
    They should because this account is for free, you won't get any benefit if you trade with real account while you still don't have any experience, what you will get is bigger loss and less experience, also it will make you suffer psychologically rather than when you lose in demo account.
  4. myregister
    A technique without loss in this case if you really able to apply it is exist, that is what trading balance called, but don't use 2 accounts in the same broker. I advise 2 different honest broker and it would be good 2 different honest brokers from different companies not from the same companies. You earning will be super low but with very low chance to lose, you can lose only because your own mistake aka human error.
  5. myregister
    That is psychological matter, i don't know about you and sidejob but for me, i feel a bit regret and loss. It affect me, thinking that is the strategy i am using right now worthy? especially when i turned to real account later. But yes, big loss in real account vs big loss in demo account are unequal, to me loss in real account is really painful.
  6. myregister
    I think by spend like 8-10 months and during that time you all keep trade during business days and practicing your strategy or skill. After that it is up to you to start, if you still find that you can make just 50% profitable trading, i suggest to spend more time in demo account. Make sure you reach like 85% profitable trading.
  7. myregister
    Best place to gain experience too, unless you do count the risk when use real account. As long as everything is fine i think that demo account gives us more safety feeling compared to try something in real account or do a backtest there, the risk will jump to its highest.
  8. myregister
    As long the target you want to reach is not that high like just 10 pips or 20 pips per day i think that is possible, usually the market in almost any scenario able to move 100 pips up and down. If you scalp the currency just 10 pips for example especially during a day with high impact news.
  9. myregister
    Not the same, it is different. Feel free to browse to know more but i will let you to know one thing that Technical analysis depend on technical indicators such as Moving Average or Pivot/Support/Resistance line, while Fundamental analysis depend on news or even rumour which drives around 90% market movement in long and short term.
  10. myregister
    Without loss is exist too, well at least the theory and i never try it but that make a sense as long as you have good internet connection, but the return is pretty small dude, do you want to earn smaller less than 15% in a year, minus the fee for your withdrawal and also need bigger capital for bigger lot size so you can see the difference in you earning? if yes it is possible.
  11. myregister
    Cannot take the bigger risk than you can? Don't take the risk. You will lose more of your money and will be blame all people around the world and worst forex itself. Forex is for someone who understand the risk it has, so if you don't have any slight intention to survive and manage the risk don't ever take it and just stop.
  12. myregister
    Motivation will help them for sure and attract people to invest money in forex. People scared because they don't know anything about forex and the core of forex i mean modern one is all about speculation, so lose or gain profit could happens in matter of seconds. Imagine lose your money just in 1 or 2 seconds?
  13. myregister
    Demo account no matter what will always be an important thing in foreign exchange, considering that a lot of people still need it as place to do experiment and for newbie it is a good place for them to get a lot of experience rather than wasting their time in forex's real account with more losses.
  14. myregister
    Yes, it is risky for all of human being to make some bucks in foreign exchange. It is normal for them considering that you also have chance to double the profit in less than one year. It is not really easy in other traditional business which takes 3 years to feel ROI, while in forex you can get it way faster so the risk is up to the profit.
  15. myregister
    Science of what? There is no science in scalping, what you need to do is to find the calm market session, usually in the middle of New York session after those euforia if there were news about US economy. It is not just in the evening, this calm session depend on where you live can happen in the early dawn or even in the afternoon.
  16. myregister
    You can understand the psychology better in the other place but as for foreign exchange, the best thing is the practice. That's where you really develop the way to understood your psychology against the market. It is not just theory but also the real thing, leaving greed is impossible but to control it is possible through trade.
  17. myregister
    To be a better trader i suggest we should train our discipline. It is a good trait to have, so in order to be a disciplined trader you need to know what you are going to do. As davidblack suggest, it is good to stick with one system that already give nice profit for us and sticking with the rules.
  18. myregister
    What you said about this is make a sense to me. Many traders afraid because they don't know what will happen to them or will this business give them a nice profit. It is normal i think, mostly of us think like that but as we shed the light of how to work with this all, we can be a better trader.
  19. myregister
    It is right, people works with their offline job for 24 hours in 5 or 6 days. But in the end it is all depend on your strategy, i see some scalpers who work for 5 days without stop but they only work for around 3-4 hours after that they just end their trading and call it a day. So the point is depend on your strategy and your skill, if you can do it then do it but the risk for daily trading is pretty big.
  20. myregister
    Agree, not necessary for traders the proof is me, i learn by myself so you can say i'm a self taught trader. I learn by visiting some blogs first to gain knowledge and then open a demo account and start to learn some strategy which i learned, it takes time but it is possible. Mentoring is good to give you some kind of shortcut. It is easier to learn and practicing by private tutoring because you have near real time feedback from your mentor.
  21. myregister
    With that way you can lower the risk? Yes of course, i do agree with you. Risk management is important in this risky business and by practicing to exercise the right management style you can become a better trader, even you lose 2 times you can still recover with just few profits.
  22. myregister
    Important to certain extent and i must admit in few cases that also help me and i increase technical analysis presence in my trading but overall the majority is using fundamental analysis and i am not scalpers who grab profit in just few seconds and then try to do the same thing again. Fundamental over Technical for me.
  23. myregister
    If you are greedy enough in fact you will lose anything, well since greedy enough means that it will affect your emotions and don't let yourself to control your own emotion. Leaving greed is factually quite impossible feat, the more realistic way is to control the greed and use it for its own good purpose.
  24. myregister
    That is the basic thing about scalping, enter and exit quickly no matter how big lot size they choose, some new scalpers usually use 0.01 lot while the more experienced traders with bigger capital will prefer bigger lot size such as 0.1 or even 1 full lot size. Scalping is all about calmer market so evening time probably for some traders.
  25. myregister
    You said it many times before a good understanding and so on. Many reasons for traders to trade in foreign exchange, from its profitability to its flexibility, but you also need to know that the risk is still high just like what it was and make it more worthy for someone who know to control emotions and able to handle the risk.
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