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About bigxy

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    Advanced Member
  1. Dollar is basically among the safe heaven assets and it is also the benchmark in forex trading and when it comes to forex trading USD is still the king among other currencies.
  2. If loan is needed for spending, personal use then i do not recommend taking a loan. Rather try to be short on money and spend what you have rather than creating more burden. However if you are willing to take a loan for a new startup which could yield more money or you wish to buy an asset like house etc then go for it.
  3. Indicators can be good however i believe they are the lagging indicator of the price so better to learn price action which is the only thing actually happening on the charts.
  4. Still i guess forex traders are making money while trading from home due to the lock down. Many traders found out corona as an opportunity to short and make money.
  5. Still many traders took it as an opportunity, shorted the market and eventually made a lot of money in my opinion.
  6. Taking forex as a hobby and devote some time for this hobby can lead towards a successful bright forex trading future.
  7. According to successful traders, not the five days trading is profitable however we have to find out the actual sweet spots which occurs anytime during the week and hunting them to make profits. Trading gurus recommends Tuesday and Wednesday as actual trading days out of the five days.
  8. One pair is good to learn and one pair to excel and becoming a profitable trader of future. Otherwise jack of all trades are usually masters of none.
  9. Stop losses are always beneficial because they helps us cutting our losses earlier than losing up the entire account within no time if the market trend moves against us, sometimes bad day occurs so good to some of the money than losing up the entire account.
  10. Demo account can be helpful in choosing the right broker however it is really hard finding a reputed broker these days so better if we can go doing some research before finalizing any broker.
  11. These new traders should trade a demo account in start for a minimum of six months before going to trade live in my opinion.
  12. Might be a marketing tool to get more customers, yes i guess you are right however many of the new traders eventually loses money in start.
  13. Starting with small amounts can be helpful in testing further processes of broker like withdrawal etc which can not be tested through their demo account in my opinion.
  14. Everyone has skills, everyone have strengths and weaknesses as well. It is better if we discover those strengths and polish them rather than struggling with our weaknesses.
  15. Many new traders lose money in start however those who let go off these losses and move forward make their way earning good money from forex trading.
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