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Forex trading, what the hype is all about


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Thanks for that post. As a Forex trader for over a year now, one important thing I learned about FX trading is to treat it like a real business. With all the hype going around the Internet, advertisers have successfully conveyed the message that Forex trading is easy money. But this is actually far from truth. There are so many factors that can either make or break your trades so doing your research is a must. You can't just make blind trades with the hope of making a fortune in a short span of time.FX trading takes patience and consistent learning.

Another thing I'd like to share is to take your time finding the right broker. There are so many brokers out there and not all are legit. So take time to research a company before opening an account with them. My broker HY Markets is a regulated Forex broker by the FSA in UK and while it doesn't match the popularity of the giants out there (Alpari UK, Oanda, FXCM, Saxo Bank, etc.) I'm happy with it because I'm sure it's legit, easy to use and a couple of other things.

Good luck with your trades!

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  • 4 weeks later...

I think is all about how to increase the odds of winning in a single trade. Come on, there is no such thing as confirmed-win, it's about taking a gamble in situation whereby you minimize the risk to its lowest. The trend, the indicators, trading system, the signals all come into play here.

However, one painful lesson that I've learned was that I didn't put a stop loss order :p

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  • 1 month later...

There is no limit of earning in Forex trading. Depends on your trading skill and decision-making capability you can make double or triple your investment. Average income of trader mainly depends on the investment and the endowment varies from trader to trader so it is not acceptable to calculate average income of trader.

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Do you know that many of us have spare time and we don't utilize it. We just waste that time. Think about this and start utilizing your spare time and earn by doing some adventurous and interesting work to make your life happy and also from monetary point you will earn. So utilize your spare time at work. Find out more at http://www.saynget.com

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Guest Rabbit_duck

 

If you are interested in trading on the forex market, you will find limits for investing are different from company to company. Often times you will learn that you need a minimum of $250 or $500 while other companies will need $1000 or $10,000.

I guess that's quite old information. As soon as I know currently you can start your account from $1 for many brokers. And for mini (or small) account you usually need just $100. Of course investment in interbank can be bigger.

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  • 2 weeks later...


I do think although forex trading is quite effortless as
well as appropriate organization for all of us. But in the beginning we've got
to learn the best way to buying and selling on forex exchange market. We are
certainly not an expert investor about forex exchange market, well, I have no
idea exactly the best buying and selling about forex exchange market, you
need to guide everyone.





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  • 3 weeks later...
Guest goldonline

Both anecdotally and empirically, we have seen that many new forex traders are unable to profit due to poor money management techniques. Many speculators come from other traded markets, and their technical and fundamental analysis skills are quite good. Yet the most common reason for failure comes down to one simple point: poor money management. The most successful traders do not necessarily have an analytical edge. Many unprofitable traders have excellent analytic and forecasting skills, but going from analysis to live trades is often a limiting factor.

What is good money management? Letting your profits run and cutting your losses short. A countless number of trading books advise traders to do exactly this. In theory, this is a simple exercise: make profit targets larger than maximum loss thresholds. In practice, however, we see clear evidence that most traders do a poor job of putting these strategies in to action.

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I think, we can making money with forex trading with good knowledge n experience.

The most important thing is money management!

Yep, money management is very important. Understanding the risk and reward characteristics of your trading methodology/system is vital to consistent success with that trading approach.

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  • 3 weeks later...

Yep, money management is very important. Understanding the risk and reward characteristics of your trading methodology/system is vital to consistent success with that trading approach.

As a person who undergo business, we must have good money management, con't get us wrong in managing the money in our hands, it's very dangerous.

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Forex trading is like a game. If you can understand it properly and work hard. But you must be very patience in forex market. Without devotion in work you can not shine in life of any work not only forex.

I don't think so. Forex trading is not like a game. It's a business, so we have to treat it like a business. Serious but relaxed, if we experience loss, do not make it as a burden, because the loss is one thing that can not be separated from the forex. Make the loss as a lesson so that we can become a better trader.

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Forex trading is like a game. If you can understand it properly and work hard. But you must be very patience in forex market. Without devotion in work you can not shine in life of any work not only forex.

I disagree with the term that forex is like a game, but I strongly agree that we must have patience in forex trading, forex trading in addition to a high risk, which is sometimes difficult market movement is expected to require more patience than a trader, it is not advisable to impose make trade when we are not sure of its accuracy after viewing and analyzing current market conditions occur.

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I disagree with the term that forex is like a game, but I strongly agree that we must have patience in forex trading, forex trading in addition to a high risk, which is sometimes difficult market movement is expected to require more patience than a trader, it is not advisable to impose make trade when we are not sure of its accuracy after viewing and analyzing current market conditions occur.

Of course, as a trader we must patiently, patiently awaiting the right moment to carry out orders, patient when we get a big loss, because that is the risk we bear in forex. And get a huge loss that occurs due to our own fault, as a trader we have to learn from the experience so that we become a better trader.

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Of course, as a trader we must patiently, patiently awaiting the right moment to carry out orders, patient when we get a big loss, because that is the risk we bear in forex. And get a huge loss that occurs due to our own fault, as a trader we have to learn from the experience so that we become a better trader.

one of the most important lessons for you to learn early in your trading career, is that successful trading requires you to not only be able to correctly interpret a forex chart, but once you have indentified a specific trading opportunity, you must completely “believe in your trade”.

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one of the most important lessons for you to learn early in your trading career, is that successful trading requires you to not only be able to correctly interpret a forex chart, but once you have indentified a specific trading opportunity, you must completely “believe in your trade”.

Yeah, believe in our trade and believe in ourselves. Believe in ourselves that we could do it. Still do practice at regularly so that we can better understand the forex even further.

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  • 2 weeks later...

The biggest barrier to success is our own self, if we are not willing to take the risk then we will never get anything. But doesn't means taking risks without calculation, the current traders can utilize free real account from broker, not just to trying the broker's server but also to measure how good a strategy that has been used in a demo account.

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