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bigxy

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Everything posted by bigxy

  1. bigxy
    Trading a demo account is always the best way to learn trading as well as broker's processes without spending any money.
  2. bigxy
    Risk management comes up with trading and experience however the traders should take that amount of risk in trading which they can afford to lose.
  3. bigxy
    Building the right strategy takes time and yes you are right we should not trade untill we get confirmation from the market. These confirmation signals might be hidden divergence, shift in market structure etc.
  4. bigxy
    Agreed to you because there are a lot many bad examples in the past where even regulated brokers turned in scam over the night and stop paying the traders. Not sure if those traders got any money back.
  5. bigxy
    There are a lot of brokers in the market so it is really hard to find out which one is legit so at least the newbie should be very careful to choose the right broker.
  6. bigxy
    Ideally i can say it like new traders should avoid scalping which is entering the market for short time and exiting taking small portions of profits, because new traders usually aren't aware of the market conditions so they should trade for at least longer time frames in order to avoid misunderstanding the markets.
  7. bigxy
    Having more than one broker can be helpful in diversification i guess but too many brokers at the same time might distract you so one or two is preferable and ideal in my opinion.
  8. bigxy
    Such software is usually referred as trading platform like MT4 or MT5 perfect examples which helps traders executing their trades.
  9. bigxy
    Newbies should focus on learning the mechanism rather than making money because if you learn how to make money with forex trading you can do it later too but if you don't know anything about the markets then the only chances are that you will be losing everything in forex market.
  10. bigxy
    Such bad days are actually building up your experiences, however we can reduces risks for those bad days or trades by using risk management and stop losses.
  11. bigxy
    I better suggest that during the pandemic we should have refreshed our skills which are really required in taking us more knowledgeable trader than others.
  12. bigxy
    Good point to note, actually success lies in practicing and teaching our mind when to act and react in the market.
  13. bigxy
    In my opinion there are a lot many reasons behind new traders losing money in forex trading, better they should not go for live trading rather open demo account and practice it for six months minimum to go through learning how the market works.
  14. bigxy
    Just consider grabbing your share from the daily turnover of more than trillion dollars which revolves around the globe and changes hands.
  15. bigxy
    Yeah you right, everyone has their own broker and the brokers' list is huge where every single day new brokers joining the market while many on the other hand winding up too. That makes broker selection really difficult i guess.
  16. bigxy
    In my opinion London session is very good in terms of volatility and liquidity.
  17. bigxy
    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.
  18. bigxy
    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.
  19. bigxy
    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.
  20. bigxy
    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.
  21. bigxy
    Still many traders took it as an opportunity, shorted the market and eventually made a lot of money in my opinion.
  22. bigxy
    Taking forex as a hobby and devote some time for this hobby can lead towards a successful bright forex trading future.
  23. bigxy
    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.
  24. bigxy
    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.
  25. bigxy
    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.
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