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fxfive
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Everything posted by fxfive
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Yes, I'm also using HotForex at this moment. I'm pretty satisfied with the service and I haven't had any issue so far either.
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I guess there has to be every kind of traders in this world, the ones riskier and the ones safer. It all depends on their trading style and the goals they are willing to reach in Forex.
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Good post! I think that you have pointed very useful tips, specially for newbies, about how to manage risk. I also agree that newbies should control the risk by trading with small amounts. This will make them feel more confident with their traders and they won't be shocked when losing.
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One doesn't choose to win or to lose, however once you have decided to trade safer or riskier then you are also increasing or reducing the probabilities to lose. I also put into practice some of the actions pointed above.
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Good saying and advice for any kind of investment. Diversifying is one of the best ways to make your capital grow up and to reduce loss probability.
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Small moves can also be profitable, although equitably according to your capital. I’m personally most worried about profit than about pips.
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Every trader should be ready to face success and failure, and specially be trained for the second one. Emotions don't have to affect your trading and when they do the best is to take a break and refresh the mind with whatever we like doing (yoga, exercise, cooking, meditation...). If you get stuck and keep trading, surely you will end up making bad decisions.
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I try to avoid trading during "holiday periods", so for me between15th-20th december would be the last week of the year. I avoid trading in august as well.
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I prefer managing my personal trading accounts but I understand that there are people with a lack of risk and monetary management knowledge and rather trust their trading to a broker.
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Your broker choice should be based on your needs: if you are looking for a registered or non registered broker, the kind of accounts they offer (micro lots account included), their spreads and leverages, withdrawal methods, minimum size per trade….There is a huge list of things you should look at before choosing your broker.
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Just landed on this forum in which I would like sharing my personal experiences and learning from the experiences of other members. So I will see you around here!
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Start with educational sources and keep learning about Forex over time, begin trading with a demo account to test your skills, use analysis and indicators which help to build a good strategy but keep it easy and understandable for you, track your loss/profit ratio.