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Why do I trade Forex

  • #41
  • Dec 28, 2017 10:04am Dec 28, 2017 10:04am
Quoting Butterscotch
You need to focus on building your own Forex strategy that allows you to make money consistently each month, don’t focus on making a lot of money really fast because it will come with time.
You're very much the voice of reason. Greed, just like fear, can blind a trader about the objective situation on the market and it's best to avoid being influenced by it.
  • #42
  • Jan 26, 2018 3:58am Jan 26, 2018 3:58am
Quoting Butterscotch
You need to focus on building your own Forex strategy that allows you to make money consistently each month, don’t focus on making a lot of money really fast because it will come with time.
Yes there is no one who can make a lot of money from here within very short time; success in Fx is a long term process. And if you want to get maximal result by your trading strategies first of all you have to make sure good money managing plan, otherwise minimum result will not come at all in spite of having good trading strategies.
  • #43
  • Jan 31, 2018 9:54am Jan 31, 2018 9:54am
Quoting MarkFxAnde
{quote} Yes there is no one who can make a lot of money from here within very short time; success in Fx is a long term process. And if you want to get maximal result by your trading strategies first of all you have to make sure good money managing plan, otherwise minimum result will not come at all in spite of having good trading strategies.
One needs both a good money managing plan and a good risk managing plan. Having both is necessary for successful trading.
  • #44
  • Jan 31, 2018 10:35am Jan 31, 2018 10:35am
the cheapest way to practice live trading, and if a trader improves, maybe he can profit
big money makes big moves and then hides during small money chasing.
  • #45
  • Feb 1, 2018 2:16am Feb 1, 2018 2:16am
Quoting StockKJay
{quote} Ohh boy... I wish that was true for me
trading forex is not easy...its requires hardwork, patience, and patience ...and discipline..otherwise you are just gambling, but there's a reward ..those who deserved..
  • #46
  • Feb 1, 2018 4:25am Feb 1, 2018 4:25am
Generally we believed good trading knowledge, patience and discipline can bring success in Forex trading. But practically in spite of having these it is not possible at all to make sure a comfortable trading life if you don’t have a reliable support from a trading platform, because the broker always can affect the result of our trading with certainly.
  • #47
  • Feb 1, 2018 8:54am Feb 1, 2018 8:54am
Quoting MarkFxAnde
Generally we believed good trading knowledge, patience and discipline can bring success in Forex trading. But practically in spite of having these it is not possible at all to make sure a comfortable trading life if you don’t have a reliable support from a trading platform, because the broker always can affect the result of our trading with certainly.
I concur. A good, reliable broker is the first thing a trader should look for. That is the foundation on which you step, so to speak. If you can't trust your broker no amount of knowledge and experience will help you.
  • #48
  • Feb 2, 2018 10:14pm Feb 2, 2018 10:14pm
Quoting biwy
Is it because it's fun ? Is it because it seems easy, just a simple click and I can make thousands of Euros =P? Is it because I actually am specialised in Forex trading and I love analysis? Is it because I think that it's the only possible investment for me ( scared of equities, derivatives, options...) ? etc... I was wondering why people trade forex here, personnaly I think it is the easiest way to make a lot of money, fast, and simple =). What about the ff guys =) happy trading
Most of the retail traders come to forex by thinking that it is the easiest way to make money. Also they have been given the idea that it's very easy. I was also not exception to this. I have been given idea that come it's very easy. You just need to learn some strategies. Later I came to know that it's not that easy.
  • #49
  • Feb 6, 2018 9:36am Feb 6, 2018 9:36am
Trading isn't even remotely easy. It requires years of study and practice to become even relatively successful. Unfortunately, there is a lot of unethical advertising in the industry, promising quick and easy profits to total newbies who have no idea what it is all about, and by the time they learn they've lost their initial investments.
  • #50
  • Feb 16, 2018 4:03am Feb 16, 2018 4:03am
Quoting mlawson71
{quote} I concur. A good, reliable broker is the first thing a trader should look for. That is the foundation on which you step, so to speak. If you can't trust your broker no amount of knowledge and experience will help you.
But we the traders who are particularly newcomers fall a great trouble when choosing a broker , because most of the trading brokers are not suitable for beginners level, their minimum deposit and trading spreads too high to survive as a newcomer.
  • #51
  • Feb 16, 2018 9:32am Feb 16, 2018 9:32am
Quoting MarkFxAnde
{quote} But we the traders who are particularly newcomers fall a great trouble when choosing a broker , because most of the trading brokers are not suitable for beginners level, their minimum deposit and trading spreads too high to survive as a newcomer.
True. That's why it's so important to research your broker before you invest your money with them.
  • #52
  • May 21, 2018 5:16am May 21, 2018 5:16am
Quoting mlawson71
{quote} True. That's why it's so important to research your broker before you invest your money with them.
Before investing money in broker we the traders have to check their previous performance especially from FPA , on the other hand we can open a micro account to see their real trading performance , otherwise there is a chance to choose a wrong broker.
  • #53
  • May 21, 2018 8:58am May 21, 2018 8:58am
Quoting AdamCrist
{quote} Before investing money in broker we the traders have to check their previous performance especially from FPA , on the other hand we can open a micro account to see their real trading performance , otherwise there is a chance to choose a wrong broker.
I agree. Also, double check any regulatory information the broker provides with the actual regulator. Makes sure its phones and addresses are real, etc.
  • #54
  • May 21, 2018 9:13am May 21, 2018 9:13am
Quoting mlawson71
{quote} I agree. Also, double check any regulatory information the broker provides with the actual regulator. Makes sure its phones and addresses are real, etc.
Makes no difference if they are regulated or not. If they are going to go bust they are going to go bust.

Lehman Brothers were regulated! Look what happened to them.

A specific example Alpari UK was regulated - they went pop and clients got back $0.88 in the $ - but took over 3 years to get this confirmed and paid out. Although people can claim under FSA rules up to a £50k balance

Being regulated for Forex is a small buffer, but in reality, I wouldn't rely on it too much.
  • #55
  • May 22, 2018 5:56am May 22, 2018 5:56am
Quoting mlawson71
{quote} I agree. Also, double check any regulatory information the broker provides with the actual regulator. Makes sure its phones and addresses are real, etc.
What you think regulated broker doesn’t cheat with their clients at all ?
  • #56
  • May 22, 2018 6:21am May 22, 2018 6:21am
Is it because .... providing you a chance to increase your wealth. You just have to be consistent and patient
  • #57
  • May 22, 2018 7:13am May 22, 2018 7:13am
when i loss mostly from my trading then i move into Paam services , sometimes it brings good result instead of manual trading but not for all time , because it completely depends on brokers performance.
  • #58
  • May 25, 2018 2:03am May 25, 2018 2:03am
Can you share, which broker paam service you used ? Thank you
  • #59
  • May 25, 2018 5:26am May 25, 2018 5:26am
Quoting DwainUK
Can you share, which broker paam service you used ? Thank you
Honestly speaking , I have never found any positive reviews about Paam services, it’s all about temporary , nothing without it.
  • #60
  • May 29, 2018 9:58am May 29, 2018 9:58am
Quoting AdamCrist
{quote} Honestly speaking , I have never found any positive reviews about Paam services, it’s all about temporary , nothing without it.
I've heard that there are some paam services which could generate you slow but steady profit. But I am sure, before starting using similar service, I should make many investigations of the service provider, in regard of that- what is his performance ; what are the opinions of the people about the provider ; is it profitable and etc...
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