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e_abrams
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Posts posted by e_abrams
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Indeed. That's why it is advisable to keep a forex journal of all one's trades.
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There are two main factors - trader ignorance and lack of experience and, according to financial regulator statistics, shady, unethical practices by brokers that lead to losses for traders.
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Indeed. In my experience, the vast majority of people lose their first account.
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I think it is prudent to learn to control one's emotions, rather than suppress them. One can suppress them only so much before an inevitable outburst.
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I think the legitimate companies make money even if you do succeed.
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I think in most jobs making decisions based on one's emotional response leads to bad outcomes.
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Indeed. If you don't have experience, don't invest a whole lot of money into your account.
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I think people do that subconsciously even if no one explained to them that they should.
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High leverage is dangerous and leads to a lot of losses, I think.
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No, forex is not gambling, but it is still quite difficult and people lose a lot of money, either because they don't know how to trade or because they got scammed, which happens often, unfortunately.
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Where are they registered?
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What license do they have?
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If it was clear to everyone I don't think so many traders would be losing money.
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One needs a lot of experience and discipline as well.
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The unfortunate truth is that most beginners lose money. It happens because they are still ignorant and inexperienced and it happens because they often get scammed by bucketshop brokers. It's a huge problem in the industry.
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That seems pretty interesting, I will check it out.
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I think maintaining a trading journal helps greatly with that problem.
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I wish I could say the same. I still make mistakes under the influence of emotions.
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The main reason why people prefer a regulated broker is to avoid being scammed. Scam companies are ubiquitous in this industry, unfortunately, the best way to avoid them is to work with a company licensed and overseen by a reputable government regulator.
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The video in question does not seem to exist anymore.
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Indeed. Strive to learn from your mistakes, not to repeat them all the time.
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True. Technical analysis is a very useful tool that should never be underestimated, I think.
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Which two components? Experience and training?
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Where are they regulated? I have not heard of them before.
Committing errors is a piece of the expectation to absorb information in the forex
in Forex Newbies
Posted
I think people don't start keeping a journal unless they understand that.