A
Asamoah
@asamoah_the_great
Last seen:
6 days ago
Here To Learn New Strategies
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When you enter into a trade and in a few seconds your SL gets hit, you are most likely to get pissed and want to get back in immediately and that is the start of revenge trading
First question to ask is does the broker accept Nigerian traders? I know CMC Markets has a $1 minimum deposit and they accept Nigerian traders. The only drawback is that they dont support many local NG deposit methods.
Demand from bank customers makes exchange rates move. The customers could be corporate or whatever but their transactions are also what make the rates move
In my opinion merely drawing a line on a chart and predicting that something will go up when it hits some support is not enough. There are fundamental factors you must consider too
very good strategy, to exit a trade when the loss is small then wait for the market to move in your direction before you reenter, you may sustain a small loss but you avert a bigger loss.
I am still trying to perfect this art of doing nothing after opening a trade, most times i use an escapist method of driving out once i open a trade
The most important thing to consider when trading gold is the spread, dont just use any broker because someone said they are good. Most brokers charge very high spreads on gold and manipulate the spreads too. Stick with Tier-1 regulated brokers when trading gold so you don't get ripped off.
Psychology to me means what you do when you lose a trade, wins dont teach you much but losses do. How do we react to losses? Natural response is to push back and try to recover the loss instead of us just accepting the fact that you cant be right all the time.
I had a friend who traded a demo account for 2 years and he told me he was ready to go live and make real money. When I told him demo experience does not guarantee live trading profitability he said I was a hater.
I noticed your TradingView timezone is set to UTC-5 and you are in Nigeria I guess, thought it should be UTC or UTC+1
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