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Basics - Currency Trading

Actually, we can apply stop loss in any strategy. Only the different setup will be implemented and which will be appropriate for the strategy. I did not expect you did not stop loss here in order to cut further losses or what if you are not able to be online for your trades.
 
Actually, we can apply stop loss in any strategy. Only the different setup will be implemented and which will be appropriate for the strategy. I did not expect you did not stop loss here in order to cut further losses or what if you are not able to be online for your trades.

I think for mostly traders stop loss is a good thing to apply in each strategies that we want to execute, and it will bring us better result and also prevent something bad that will happen here later, and for sure will maximize our profit , so it is a must to apply it in every strategies.
 
I do make good income in forex when I'm still a newbies and I do hope that in two to three years time we can see ourselves earning good and earning well in here. I know its so hard to make money so we just want to make sure that we do lots of review and research before we decide to invest time and money in forex.
 
That's really great that you have been earning well already but I don't think you are still a newbie because you have learned a lot of things already in forex and that you have been in forex for more than a year now. Anyway indeed making research is very important to understand the importance of currency in trading
 
I don't see much to think about if we are still newbie or not. Because, our main goal is to have good profits and decent earnings in Forex trading. After all, there's no definition when you are going to be not a newbie and already great trader or experienced trader.
 
I do advice that we start trading eight major pairs in demo account. Lets just familiarize ourselves on how to do analysis. I'm sure in the long run we can see which one in the pair is good to trade in this week and so on. This is my goal right now. I monitor eight and I only pick one for profit taking.
 
I think it will take some time to have manage to trade or be familiar with those. And it's better also that we will have use of fundamental analysis even with the demo to see which of which affects certain pairs. I would say that it's difficult to have daily trade with different pairs as well.
 
It is better to stick with one pair first, i do that and until i get profit from it, once i familiar with it and keep gaining profit from my trading then i will switch to the other currency pairs, as long as that other currency pairs seems good and also profitable for me, and i think trade with 2 currency pairs is not a bad idea, but for me doing that will be so bad.
 
Yes, and in the next trades we will need also to learn others for the betterment of our trading and also analysis. This will be our way to determine if we are good enough to have analyze the market in the different pairs, market, and sessions. So, this will be advantageous for us as time goes by.
 
Its really important that we invest in a broker site that accept stable currency. Right now for example LR is down again. Its always better if we want to be in good hand to invest in a broker site that uses paypal or wire transfer only. Better yet watch bloomberg to get good idea what kind of broker site is good for us.
 
You mean here of the ecurrency or the payment processor not the currency. Anyways, if we will going to choose brokers then, we will need to have those that have wide range of funds to withdraw or their withdrawal method. It's difficult if we have less methods here.
 
You mean here of the ecurrency or the payment processor not the currency. Anyways, if we will going to choose brokers then, we will need to have those that have wide range of funds to withdraw or their withdrawal method. It's difficult if we have less methods here.

Talking about that thing, it is depend on the broker, i saw there are a lot of forex broker which offering so many way for us to cashout from that broker, and i think that is good if we meet a lot of broker which we can use so many ways to cashout, and i think more and more payment processor will be better
 
Yes I would like to tell all new trader that they should always update them self by latest market trends and forex news which help them to avoid from loss.
 
Talking about that thing, it is depend on the broker, i saw there are a lot of forex broker which offering so many way for us to cashout from that broker, and i think that is good if we meet a lot of broker which we can use so many ways to cashout, and i think more and more payment processor will be better

It also depends on the request of their clients, right. So, it's not on the broker side but also in the trader's side. I would say that we should also careful enough also in the payment processors and as much as possible to other methods like in the bank accounts that usually have offered by the brokers.
 
Yes I would like to tell all new trader that they should always update them self by latest market trends and forex news which help them to avoid from loss.

Even though trader always get update about the latest economic news and able to analyze the market properly, still not enabling them able to avoid loss because the market unpredictable. however, with all requirement needed to make good analysis outcome, we will often make right decision rather than wrong trading decision.
 
Yes, fundamental analysis will be significant for the traders to be aware of the news and to have know the possible market trend through it. We should see that this greatly affect or have huge deal in the market. And therefore, we should predict and analyze the market in both fundamental and technical aspect.
 
technical analysis is the base technique to determine current market trend while still must backed up by fundamental analysis to know current faith of currencies which want to be trade, using both will make better trading and better result
 
Well, the basics I was taught was how to protect my capital at any point in time. Before opening a market, what comes in my mind is what if the market doesn't move to my favour, it shall tell back on my investment and if this happens, what ways do I apply to make sure my capital doesn't get drained in the process and one of the methods is stop loss.
 
I am an Indian. Few months ago price of one USD was Rs. 55 and i bought 1000 USD. Now the price of one USD is Rs. 65. That's mean profit of RS. 10000. So I prefer long term investment.
 
A beginner has to learn not to be greedy also because of having less knowledge about trading, so he can manage his capital, than trading the amount that he can not afford to loss
 
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