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bigxy
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Everything posted by bigxy
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Forex forum Do you think forex forums can improve my trading skills?
bigxy replied to flybiz08's topic in Forex Newbies
I think forums are a great way to interacting with other skilled traders. Many traders share their strategies, some traders share their mistakes and some discuss about brokers and so on.. -
I guess loss happens in forex trading but we should let go off it and start trading again with taking calculated risks. I think stop loss factor should not be neglected otherwise traders will loose money and keep on loosing more while chasing it. It is good to quit the market for sometime if your trades went bad and then start with fresh mind after sometime.
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Agreed, practicing a demo account is really very important in building up self confidence and newbie skills. Demo accounts can also be used to test the strategies before applying them to real trades.
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Cloud Hashing - Cloudhashing.com
bigxy replied to Moderator's topic in Cryptocurrency General Discussion
I guess cloud mining can be a best solution to accommodate every single user as it is quite difficult to buy your own hardware, its maintenance and bearing its electricity costs individually. -
Ethereum has made significant improvements in its price in last one month. I did tried to mine it but remain unsuccessful as the pool guys sent me 4.92xxx ether on my ethereum address but it didn't showed up there and they never replied to the issue. So i left mining this coin.. :-/
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Demo accounts provided by the brokers can be helpful to get familiar with the broker processes as the real accounts are very similar to these demo accounts. I prefer demo accounts with multiple brokers to compare their price feed and processes etc before switching to their live accounts.
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I guess scalping can be risky for newbie traders as it requires traders to follow a disciplined approach by making quick decisions. Most of the time they have to consistently monitor the trading screens as they need to book multiple small profits within a single day.
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Initially you can't rely your living while trading forex or binary options, I guess it should be started as a hobby in part time and while learning trading it is important that the learner should be very patient to learn strategies that could bring some money. I guess trading demo account for two three months is necessary before starting with live trading. Once learning is over, then you should start live trading but still you can't rely your living at this. Those who are experienced enough in trading are making huge lots of money with their trading business.
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We don't know when a broker turn into scam and stop paying their traders, it is highly recommended to keep an eye on the market news and take regular withdrawals from your broker by keeping the only capital with your brokers. There might be several reasons turning a broker into scam so we should keep our capital safe by keeping the only capital with them.
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I also prefer trading manually as no doubt EA could be helpful but I guess they sometimes double the troubles if they back fire, so manual trading is quite fine.
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I hope you already have found your answer however I might suggest you to start binary option trading with in your free time, but start with small investments to have a diversified exposure in this field as well.
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Trading can be started by working from your own home but it requires a lot of hard work in start, i am also doing trading binary options which is bit easier than forex trading as you don't have the hassle of making stop losses and deciding when to take profit.
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I guess the traders should keep patience while trading, they should not over trade and always start with small amounts in the beginning. They may also start taking calculated risks and moreover they should keep their emotions aside as emotions can lead to major losses.
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Most of the traders losses money in the start but they have to let go off it in order to become a successful trader. Trading might be easier but earning money through trading is bit difficult in start so many traders losses money and losses more while chasing their lost money. So it is good to get a demo account for the first 3 - 4 months for practicing the strategies before going to any live trading accounts.