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Why do I trade Forex

  • #141
  • Nov 1, 2018 10:54am Nov 1, 2018 10:54am
Quoting redman25
{quote} i can relate. beginning stage was a wreck for me , i'm much stable now. just give it some time, you'll start loving the thrill too.
It was a wreck for me too. I think it's a common experience for many traders.
  • #142
  • Nov 3, 2018 1:01am Nov 3, 2018 1:01am
Quoting redman25
{quote} i can relate. beginning stage was a wreck for me , i'm much stable now. just give it some time, you'll start loving the thrill too.
agree initially everyone faces difficulty, stability comes with time and experience.
  • #143
  • Nov 3, 2018 8:00am Nov 3, 2018 8:00am
Started off as I want to be able to travel and work, so the freedom Forex trading gives is appealing. I have good money to put in to it, but building my skills up slowly until I start using serious money (I reckon no sooner than 2020?). Been trading for two years already.

But, something else happened. I actually came to love it. I can quite happily look at the charts and news and look for patterns and affects. So, if I ever have a spare 10 minutes I'll always be looking at something Forex related. However, this is just to improve my 'skill-set' rather than being desperate to place a trade! Over the past few months I've become very disciplined with regards to the number of trades taken.

So, to summarise: Initially, the freedom Forex offers is what appealed to me. However, I've grown to actually enjoy it too (even learning something from the losses!).
  • #144
  • Nov 3, 2018 8:17am Nov 3, 2018 8:17am
Quoting londonboy
{quote} 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.
That's another thing I've made sure I've done. I only have enough in my Forex account to cover positions/margins etc. The rest of the money I have (and will continue to have) in a separate bank account from my main one. It means that should my regulated broker go bust then I won't lose a fortune. Money held in banks in the UK is protected up to £85k. I simply sweep the money to and fro as required.
  • #145
  • Nov 5, 2018 8:01pm Nov 5, 2018 8:01pm
To earn extra and more income one should learn trading so that may be he can earn good amount from it.
  • #146
  • Nov 12, 2018 6:20am Nov 12, 2018 6:20am
according to me, only learning cant bring good result without having a regular practice , so, emphasis on how to ensure practice when trading.
  • #147
  • Nov 13, 2018 9:14am Nov 13, 2018 9:14am
Do you have any advice about how one should practise in general?
  • #148
  • Nov 14, 2018 8:07am Nov 14, 2018 8:07am
All practice indicates trade in a demo seriously, we generally we the traders who are particularly newcomers don’t believe the importance of this trading place at all. it’s the real general source for practice trading.
  • #149
  • Dec 14, 2018 10:54pm Dec 14, 2018 10:54pm
i like to trade in demo always and enjoy much , it teach me lots of knowledge and experience. but sometimes i trade at random in there , because there is no real money i know, its all about psychology.
  • #150
  • Dec 15, 2018 7:56am Dec 15, 2018 7:56am
Quoting AlexImam
i like to trade in demo always and enjoy much , it teach me lots of knowledge and experience. but sometimes i trade at random in there , because there is no real money i know, its all about psychology.
Do you ever trade on a live account?
  • #151
  • Dec 16, 2018 4:19am Dec 16, 2018 4:19am
Quoting AlexImam
i like to trade in demo always and enjoy much , it teach me lots of knowledge and experience. but sometimes i trade at random in there , because there is no real money i know, its all about psychology.
How many months you have been using the demo & what’s your plan on live trading?
  • #152
  • Dec 16, 2018 4:25am Dec 16, 2018 4:25am
trading demo always not comfortable , because there is no real money , so it is more appropriate to trade sometimes in micro.
  • #153
  • Dec 16, 2018 4:55am Dec 16, 2018 4:55am
micro account beginners can make emotional and greedy ,
not agreed.
  • #154
  • Feb 18, 2019 4:15am Feb 18, 2019 4:15am
if any newcomer finished pre school level for two or three times ,
any newcomers can kick off micro account , i
ts my own experience, don't take it personally
  • #155
  • Feb 18, 2019 11:26am Feb 18, 2019 11:26am
All traders can be emotional and greedy, I am not sure that the size of their account has anything to do with it. That's just human nature.
  • #156
  • Feb 18, 2019 11:45am Feb 18, 2019 11:45am
when i was newcomer freely i trade i demo and there was no emotions at all, but when i kicked off a micro account i trade again and again , at last whole balance i lost , its call revenge trading that comes from emotions.
  • #157
  • May 17, 2019 6:16am May 17, 2019 6:16am
its very practical and common attitude for beginners level , due to having emotions they cant survive when kick off a live trading , in practical there is no way to stop emotions at all , but only by regular practicing with discipline it can be controlled of course.
  • #158
  • May 17, 2019 7:12am May 17, 2019 7:12am
i dont think so, by practicing in demo we can controlled our emotions, because in demo we trade at random most of the time and no emotions work when trading.
  • #159
  • May 17, 2019 2:45pm May 17, 2019 2:45pm
Quoting NathanAstel
i dont think so, by practicing in demo we can controlled our emotions, because in demo we trade at random most of the time and no emotions work when trading.
Obviously by trading a demo account we can learn the processes without investing any real money with the broker, so when we win we get nothing but when we loose we atleast earn some experience with no real losses.
  • #160
  • May 18, 2019 10:02am May 18, 2019 10:02am
Quoting plymgary
{quote} That's another thing I've made sure I've done. I only have enough in my Forex account to cover positions/margins etc. The rest of the money I have (and will continue to have) in a separate bank account from my main one. It means that should my regulated broker go bust then I won't lose a fortune. Money held in banks in the UK is protected up to £85k. I simply sweep the money to and fro as required.
Good thinking but aren't you covered anyway if your broker is regulated?
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