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how to know when to exit a trade? Replied 3 weeks ago - What do you mean by automating the process?
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how will i know if i'm a profitable trader Replied 4 weeks ago - To determine if you're a profitable trader, with good psychology and risk management, check for; - consistent profits, - disciplined and emotional control - low drawdowns - positive trading edge - confidence under pressure and ongoing improvement through analysis and adaptation and moreover less losses.
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How Do I Take Partial Profit on MT5 Without Closing The Trade? Replied 1 month ago - Alright . Thank you
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RISK MANAGEMENT Replied 1 month ago - Risk management is not trading but trading is risk management
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You are in trading to make money, not to avoid losses Replied 1 month ago - If you are the kind of trader who always like to be right then this might lead you to commit the "sin of early entry" where you enter a trade prematurely because you want to set a tight stop loss. By doing this, you achieve quite the opposite as your stop loss will be hit easily when you fall for a fakeout.
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stay alive long enough for probabilities to work Replied 1 month ago - The market tends to reveal you to yourself. The market is a revealer. Trading is all about the discovery of yourself.
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how do i spot volatility on charts without using indicators? Replied 1 month ago - When volatility is high, your broker could reduce leverage. On the charts you also see unusually tall candlesticks
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Wait for the market to act before you react Replied 1 month ago - It all comes down to being patient. Back in the day when I started trading I was so impatient. Sometimes I would not even wait for a candle to finish forming and I would just assume it would closed a certain way and then I jump into the market. Goes without saying I paid dearly as I was always making losses. Sometimes I would see a bearish candle forming and I would just jump into the market assuming it will close bearish, only for it to close bullish.
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In the forex market, fear has many faces Replied 1 month ago - Fear of losing profits, I had to battle with that one for one year 😂
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No position is still a position Replied 1 month ago - Welll said! But this is easier said than done, the urge to trade always wins lol
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The smaller the candles, the bigger the lot size Replied 1 month ago - Small or short looking candles are a sign of low volatility most times it is when the market is expecting a news release that you see short candles forming everywhere. For me i would not trade when I see short candles all over the place, but I agree with you- trading a bigger lot size will mean even with the short candles you can still make good money as price moves.
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can i open more than one trading account with a broker? Replied 1 month ago - Precisely! Some brokers like Exness allow you open as many as 50 accounts
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will i get a refund if price gaps over my stop loss? Replied 1 month ago - Nice question, I am interested in knowing the answer too!!!
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Dont be a lazy trader Replied 1 month ago - What do you guys think about what I said? Hope I didnt ruffle any feathers? lol
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what is the minimum lot size for a cent account? Replied 1 month ago - 0.01 is the minimum lot size. The cent account is designed so you dont trade more than 0.01 lot
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How much does it require to earn more profit Replied 2 months ago - 100k USD? The answer to your question depends on the leverage your broker allows for the instrument you are trading. Brokers give the highest leverage to major currency pairs like EUR/USD. So, lets say your broker allows you a leverage of 1:2000 you will require about $50k USD account balance to be able to make 100k USD profit
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What is the best leverage to use in forex for a $10 account balance? Replied 3 months ago - $10 is barely enough to open a reasonable lot size so you will ne needing high leverage like 1:2000 if you want to trade 0.02 lot size of a major fx pair
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How did you overcome overtrading? Replied 3 months ago - How can we build such an interface @patrader?
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does the spread affect where i can set my stop loss? Replied 3 months ago - When spread is high, the distance between bid and ask price becomes wider. If you took a short position like in the image i attched, then watch the ask price line because once it reaches your stop loss you will be kicked out of the market. Also if you are long, always watch the bid price line as you will be kicked out of the market when it reaches your stop loss.
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how frequently should i monitor an open trade? Replied 4 months ago - I only monitor an open trade when it is nearing a level of support/resistance. outside that I dont bother to monitor i just set my TP
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