Recent content by PhoenixJ

I'd like update everyone on the experience I've had quite recently. A close friend of mine wanted to invest his pension on something to have a passive income, but he didn't have any knowledge what to start with until he was introduced to someone who sold EAs that you can run 24/7 on a VPS. Even...

Nothing is free in the world of Forex! If it's free then you should question its validity!

Definitely, I'd even suggest to share your experience with other traders to see some comments from professional traders and you can also help your fellow traders from that community to learn from your mistake.

I'd give you solid example to use every risk management necessary. I was trading Gold, USD received 3-4 major major news, then Gold dropped 131 pips in one minute candle. I didn't have stop-loss. You can figure out what happened next.

But still that doesn't mean you can't even the odds at least.

And that is why 90% of Forex traders lose their capital.

Some people just randomly say high leverage is a risk but don't elaborate further!! Let me explain, if you use leverage, you can open more trades or open high-volume trades, that's what makes it risky. Now if you use a margin calculator to calculate the required margin but without leverage, use...

Precisely!! Believe in yourself but don't be greedy.

Wanting to win without any cost is absurd. Any forex trader should be prepared to lose.

Pretty solid advice. I'd definitely suggest the same thing. Regarding the leverage usage, I'd also add that don't use a volume that you cannot afford without leverage. You should just use leverage to reduce the margin required not anything else.

A very harsh way to put it tbh!

Well said! Although confidence is needed, but sometimes having too much confidence can be harmful!

And mark yourself as a risky client for your card provider! Solid advice there mate. Although if they truly are scams, I don't think anything else can be done. I'd suggest making sure you are working with a trustworthy broker.

Someone is asking the real questions here. :))

I only agree with the first half of that comment. So far, I've realized, news trading + scalping on Gold is the best and easiest form of trading, especially for beginners. Yet you don't really need to be a full-time trader, you just need to keep an eye on different sources of news, and of course...