This year, I also ventured into stocks and realized that its a lot different than trading forex. We have list of brokers in this page. A standard-size contract for silver futures is 5, ounces.
With that good feeling that you miss, you just want to trade more and more, larger and larger, only to experience the bottom faster. Trading this way will not work. It is not about the feeling in trading. How much money you made or how much you lost should not be the basis of trading. The more I trade, the more I realize that. For me, being right matters most. Its all about the odds and probabilities.
Its all about timed aggression and patience. A little bit of luck may help. Because even though luck is involved, there is a reason why the final table have so many familiar faces.
It is a different kind of feeling that the thrill of winning big. Being right is better than breaking the bank. This is not a sprint, its a marathon.
Trading larger size may give you great gains, but also great drawdown, and greater risk to go bankrupt. What we want is to make the right decisions each and every time.
The more I read about the stories of successful traders, the more I realize that trading is much like poker. Some people treat it as gambling, some treat it like a sport, a mental sport like chess. Some play poker just to have fun, feel the rush, some play poker as a profession, as a business.
We should approach forex trading the same way. The forex market is going stale as we reach the end of the year. Many investors are on vacation so the market is not liquid enough to be exciting. Primary strategy is to produce passive income. Not sure for now, but the journey thus far have been so exciting. In forex, you can enter or exit anytime, very liquid. And liquidity is very very good. I am also trading at no risk. Which means, the money that I have in my forex account are the money that I earned trading.
I already withdrew the money, initially deposited into my account and thus, trading with no risk at all.
This year, I also ventured into stocks and realized that its a lot different than trading forex. So I decided to change my strategy with stocks and focused on passive income generation.
In which I am very much enjoying. I realized that forex trading is a probabilities game. You can not predict what will happen next. A good forex trading system is not a system that could predict the next move of the market, because there is no such thing. The time I realized this, my trading just improved.
I learned to accept the risk before entering the trade. The reward may be small, but small steps before you can run. And it have proven to be profitable. The best way to trade forex is to trade defensively until the next big trend comes. Always be in the market so you can be in the position when the trend starts. You just have to survive the ups and downs of price by money management. And if you caught yourself a big trend, double, triple, quadruple, quintuple up your positions until you are stopped.
I also realized that day trading is stressful. So I switched to swing trading daily. I forgotten my first reason in trading forex. It is to be free. There is no easy and fast money. The only thing you can find there is stress and a lot of time spent, staring at a computer. That is not the life I want.
I want to be free. With a lot of free time and let my money work for me, not the other way around. Its a great great feeling. This is the thing I learned while learning stock investing. And I think it goes very well with trading in forex. I used to hear a lot of people saying this and I have never really understand the deeper meaning in it. A lot of traders have been saying that to never trade the news. And I have been a victim of greed over the past week.
I try to anticipate news releases and have been wrong many times in doing so. And decided to trade only currency pairs that are not in the risk of news. It might not actually be a late time to enter but you get my point. With full function capabilities on both operating systems for both smartphones and tablets, you can trade how you like and when you like. View prices in real time and execute trades just as you would on your desktop.
Turn on push notifications to keep up with positions and the news on-the-go. Try the app today! Gone are the days were trading was only for windows users.
Klimex Capital Markets has developed a unique solution for Apple users, allowing them to fully exploit the powerful capabilities of the MT4 platform on their. Klimex Capital Markets has developed a unique solution for Apple users, allowing them to fully exploit the powerful capabilities of the MT4 platform on their iOS based devices. Simply drag and drop the MT4 file into your applications folder and instantly have access to global markets directly from your Mac.
This version works seamlessly and includes all the same features as its Windows based counterpart. This solution is the most technologically approach on the market for Mac based Forex traders. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss in excess of your initial investment. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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