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Everything posted by e_abrams

  1. Nothing guarantees your success in trading. It's a difficult occupation. You can increase your chances though, but being disciplined and organized, learning as much as you can and taking as few risks as possible.
  2. What currency pairs do you prefer scalping?
  3. Indeed. It is the prudent way to start trading. Once one gains more confidence, they can expand.
  4. If one is doing demo trading right it should not be simple to begin with.
  5. It takes as long as it takes - different people have widely different learning curves, so it's not a good idea to compare oneself to other traders.
  6. I think it is important to pick casinos with proper license from a gambling regulator to ensure that they are safe. The gambling itself is a matter of luck.
  7. True, experimentation is often overlooked. You got a new idea about a strategy? There's absolutely nothing holding you back from testing it on demo. If it works, it works, if it doesn't, you won't lose any money.
  8. I think it is important to be profiting more than you are losing to even consider going into a live account.
  9. It can also help experienced traders test their strategy and their EAs in a safe environment, so they do not lose money. People often underestimate how useful demo can be even to traders who aren't newbies anymore.
  10. Personally, I use Metatrader 4 because I find it to be both simple and intuitive to do so, but to each their own.
  11. Nobody can trade on all currency pairs and be successful. Pick a few of the more popular ones and try them out, then narrow them down to one or two at a time.
  12. True, researching your broker is vital to avoid scams, unfortunately. One cannot trust anyone blindly in this industry.
  13. The main criteria is regulation - if the broker has a proper license from a reputable regulator, then it's important to see whether their trading conditions are good.
  14. I wouldn't say that. I think spending a lengthly period of time on demo, only learning the ropes without stress, is a prudent thing to do.
  15. The broker I currently use is regulated in the EU and I am satisfied by the regulatory oversight it receives.
  16. Earning a profit from forex is incredibly hard for the vast majority of people. Most people lose money.
  17. Personally, I don't think it's wrong to give up on trading if you realize it is not working out.
  18. Demo is certainly the safest way, which makes it the best way. If you're a newbie and you are still learning the platform the last thing you need is to fear you'll lose money if you press the wrong button.
  19. According to a survey performed by the Australian financial regulator ASIC, about 63% of people trading Forex lose money (the losses among other types of trading are even bigger). Why those people lost money, however, was pretty interesting. It turned out in many cases the problem was in the broker. ASIC points out that actual client profits are inconsistent with marketing materials; risk management practices for client money are outdated; some referral arrangements may be in breach of selling prohibitions and last but not least that some brokers are providing wholesale services or allowing third parties to ‘white label’ their products without operational capital to supervise counterparties and support their exposures. Source: https://www.forexbrokerz.com/news/asic-eighty-percent-of-binary-options-traders-and-seventy-two-percent-of-cfd-traders-loose-money
  20. True. The most painless way to do so is to open a small live account and use it for learning purposes only, at least at first.
  21. The demo account is a good indication, but it's not always reliable. Sometimes a broker's demo account is a lot better than their live account.
  22. It is an option to earn indeed, but if one doesn't know what they're doing, they are more likely to lose.
  23. Sooner or later one does have to move to a live account, I agree, but the prudent thing is to invest a very small sum and use that account of training purposes still.
  24. I think it is an important part, but not the most important part. Everything is important, when it comes to trading - picking a proper broker so you don't get scammed, learning how to trade, forming a proper trading plan, etc. Not one of these steps can be skipped in favour of the others.
  25. Indeed. I've seen people recommending to start on a live account right away, which is a pretty wild idea to me. Trading on a demo for a little while, at the very least, is necessary, in my opinion.
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