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what's the difference between trading & investing Replied 3 weeks ago - Investing = Long-term ownership. Slow, steady, fundamental-based growth. Trading = Short-term speculation. Fast, volatile, price-based decisions.
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Prop Firm Drawdown Replied 3 weeks ago - Accept that drawdowns are normal: This is so vital to a traders progress. Every trader — even professionals — experiences drawdowns. The difference is that good traders manage them, while emotional traders make them worse.
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How do prop firms make money, is it from selling challenges? Replied 3 weeks ago - Prop (proprietary) trading firms are companies that give traders access to their capital. In return, the trader shares a portion of any profits made. But the way prop firms earn money goes far beyond this. Evaluation / Challenge Fees (Their Biggest Income Source) Most modern online prop firms use a “challenge model.” This means traders must pass one or two evaluation phases before they can access a funded account. Traders pay a fee for the evaluation. If they fail the challenge, the firm keeps the fee. Many traders don’t pass because of strict rules or lack of experience. This alone makes up the majority of a prop firm’s revenue. That's because thousands of traders buy challenges every month, and most of them don’t reach the funded stage.
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Can I start trading with $100 Replied 3 weeks ago - Yes, a beginner can start trading with $100, but the main goal should be learning, not making big profits. A small amount is actually good for beginners because it teaches discipline and reduces risk. You must use very small position sizes and understand that losses can happen quickly. I am not really in support of leverage for a beginner.
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Prop Firm Replied 3 weeks ago - i stated a better trading platform cos of the one i use. my current prop firm gives access to MT5 and Match trader. I actually prefer Match trader to MT5. The platform is so easy to navigate.
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GREED Replied 4 weeks ago - The market is like shark infested water, you get in and get out. That does not mean you should not allow your winners to run but you should open many trades, close some with profit after about 15 pips, then allow the rest to run. This means you should always add to your winners. Many traders only open one trade and they intend to leave it open till it reaches the TP which is risky. Since Trump came into power we began to have more trending days where the market sails in one direction but such does not last. The reality is most times the market will be zig zag not remaining in on one course for more than 20 pips.
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why am i losing so many trades in a row? Replied 4 weeks ago - A lot of traders experience multiple consecutive losses which is common in trading with reasons like unpredictable market conditions, mismatched strategies, impulsive trading, psychological factors like fear or greed, and inadequate risk management. To improve - review and refine your strategy - apply strict risk controls - stay disciplined - manage emotions through patience and journaling - set realistic expectations and take breaks when needed. sticking to this plan and checklist you can watch out for better improvement in a short period of time
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Overtrading doesn’t come from strategy problems. Replied 4 weeks ago - Overtrading occurs when traders make excessive trades fueled by emotions like greed or frustration, risking and burnout. To prevent this, traders need - strong psychology - discipline - emotional control and mental resilience all of this to make better decisions and follow their plans.
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when does London session open in Nigeria, is it by 8 am or 9 am? Replied 4 weeks ago - It starts last sunday in march
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What do you do when you have a bad trading week or month? Replied 4 weeks ago - Unprofitable pls
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Which is the best forex academy in Lagos? Replied 4 weeks ago - I will advise you don’t really focus on a physical academy, find someone that has a proven track record in the industry and learn from him or her. If he or she can meet with you physically, that’s a great idea.
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Forex trading Replied 1 month ago - There are basically three of such sessions 1. Asian session 2. London Session 3. New York session. As a beginner it’s better to always come to the market during the London and New York session. The Asian session isn’t that busy so I won’t advise you to trade during that session.
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understanding forex terminologies Replied 1 month ago - This is an amazing thread for a beginner. I recommend it for everyone beginner trader
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what is scalping in forex Replied 1 month ago - Scalping is a trading style where a trader makes profit when his or her trades goes into little profit . 5-10pips move are okay for a scalper.
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Traders Failure In Forex. Replied 1 month ago - Alright. Thank you for your response. I don’t think prop firm allow the use of trading bots for their accounts. Do they?
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which is the worst month to trade forex? Replied 1 month ago - January 🤣🤣🤣🤣🤣, i didn’t like this January price action at all
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Where can I get huge capital to trade forex with? Replied 1 month ago - Yes it did. Prop firms are actually good leverage if you can stick to the rules and go with a reputable firm.
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How Does One Learn Forex Trading For Free Without Having To Buy Online Forex Courses & Pay for Mentorships? Replied 1 month ago - I don’t believe in learning forex for free. It’s time consuming and can be tedious. The best way to learn forex is to learn from someone with proven track record in the industry. Don’t just go paying anyone. Pay only those who are really doing well in the industry.
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What Time Does The Forex Market Open on Sunday in Nigeria? Replied 1 month ago - 11 pm during November to March and 10 pm otherwise
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Don't trade forex if Replied 1 month ago - If you are too busy to monitor your trades. CFDs are not set & forget instruments.
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