I have been trading forex for the past 8years, my experience is that; money management is best principles trader has to learn I mean a must learn if he what to succeed in trading. Money management principle make me see forex trading as a business and not gambling or lottery. More so money management in trading take fears and emotions out of trading. My question is what are your best strategies of forex trading.
Obviously money management is a one of the must thing to do and it's a common way to execute when you are in any kinds of money investment well of course especially if a person is doing forex trading or any kinds of assets trades. It's not a strategy but rather main thing to place on the table. And besides when you are in a trading activity, you are eyeing for a profits so it means you are treating the trades seriously and not as a gambling or in an entertainment view. Everyone have different so called strategies. More importantly, a strategy of theirs must maintained their winning streak or should I say should give them more profits than a loss one. In your 8 years experience I will assume you really built a great experience and I know others want to see your other strategies too. Forex trading and other currency trading involved a lot of risk, and no matter the strategies a trader is used he can not win all his or her trade. Outside money management principle we the trader should also look at our risk reward principle also and with these two principle, with a winning of 60% to 70% you will still be in the green. |
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My best price action reversed or continued trending trading strategies are inside bars or pin bar at the support or resistance level. This two bar give almost 80% accurately signal at support or resistance level. Do your research online and get adequate knowledge on this two price action signal and you will have a new view on currency trading.
Yes this is the basic things you will need to learn first if you do want to trade with high chance precision since hitting the resistance and support level do have chance to bounce back but its not guaranteed to work anytime because breakouts and explosions do really happen and it depends on the market situation.If you do trade on forex then you could always see this but on crypto world i do seldom see this stuff. Seems to me you singled out support and resistance strategy out of the price action strategy OP was looking at! I know price action strategy readily converts to profits, because it is not a lagging indicator/tool as many others in technical analysis and combining it with support and resistance levels, makes it almost a sure fire. However this strategy is not good enough for every trader, it is well suited for those traders that have eyes for details, tons on patience and sound risk and money management. One thing worthy of note about support and resistance levels is that, the market tests them more than once before finally breaking out. Armed with such a knowledge would give a trader a better understanding when to buy or sell, when to let go or to keep holding on, Another secret that I have learned from pin bar in combination with support and resistance level is that; the longer the tail of pin bar the stronger the signal. More so; as a trader you also need to study the inside bar before the pin bar. As you have said, having a sound money management in place bring confidence to trader. |
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Such the author was ignoring the money motivation,
I may think if some of they word were becoming the right word.
But such the money still have a domination on the people's intention on trading.
Im believing the same thing too on which money is the primary intention on most people would tend to engage into trading..There are some possible reasons but it depends on what kind of individual are you because some do love to learn trading because it acts as a dream and they are pursuing to achieve that, my aim of trading is to make money and I believe this is the. Aims of everybody her. |
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Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.
how can you determine losing to be part of a successful trade.First learn the market and then start trading so that you wont lose your hard earned money.Never trade with your money without knowing the market and that is not how you gain experience.It is called stupidity Even the most experienced traders lose on certain trades, but they are thriving on the years of experience. These traders are making a decent amount of profit with the majority of their correct trades, and thus build up some sort of a buffer where they can eat through losing trades without any problems. Exactly this is what seperates excellent traders from hobby and occasional traders. And yes, there are a lot people just buying at random prices without any thought behind their actions. These people will eventually learn by paying a very high price. losses is part of trade, and we have to see this fact as true in our mind. Our saving grace should be a good and proper money management. Many trader got they entered capital wiped out because of this. |
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Candlesticks charts patterns work if you can interpret it properly and understand the formation that show market signals. In trading the only way you can succeed is to treat it as business and not gambling. Money management principles is a must leaning and no matter how poor your trading strategies you will succeed at the end of the day.
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if you want to trade like a professional, then you need skill and precise predictions. you can have it by playing continuous trading. if you do that, I am sure, you would find your way separately to make more money from trading, and you're probably going to be a professional
experience will allow you to keep learning more and more and most pro really invest their time and effort for them to learn how to make good decision in placing their investment i'm sure if you keep doing it you will be trade like a pro. professional traders' are made and not born. I have been around forex for the past 8 years and one thing I have find out is that; new methods or a new price pattern are developing every day, therefore we need to open our minds to a new ideas and information daily for us to remain a successfully trader. |
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My best price action reversed or continued trending trading strategies are inside bars or pin bar at the support or resistance level. This two bar give almost 80% accurately signal at support or resistance level. Do your research online and get adequate knowledge on this two price action signal and you will have a new view on currency trading.
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You have said it all. Forex trading has two approaches, because you can decide to trading it as a gambling or as a business. If you want to trade it as a business then you need to remove fears and bad emotions from it and the only way you can do that is by treat losing as part of trading.
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Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.
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Experience has shown that: Trading forex is very risky and most times inexperienced traders jump into trade with they hard earned money without thinking of what they going into. Please advice inexperienced trader here.!!!!!
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Its one possible way i think is to invest in mining.. but before investing u should know about scam and real miners.. go through a deep investigation find every even and odd of it..then invest a very little for testing and when it fullfills your task then u can invest the major.
you could not make that much money if you are planning to mine bitcoin unless and until you are planning to start with a big investment you wont get any profit out of it since the difficulty is increasing with time it is not a good time to invest in mining.Trading is the only way to incease your portfolio Getting involved into a "cloud mining" is indeed not profitable at all. The rate of getting scammed is high because most of them are not an honest website which provides real mining rig for rent but Ponzi scheme, but if you're having the intention to buy mining rig by yourself and setting it up. it might be quite profitable if you're mining some kind of altcoin which having pretty easy difficulties but will not going to be profitable if you're mining bitcoin honestly What you said is correct, Cloud Mining is nothing but purely a scam Investment were you wont get your invested Bitcoins, and If intending to start Mining then it is better to mine Altcoins. apart from that if you have got some skills then you can give your skill work for Bitcoins and earn some Bitcoins Apart from that You can also invest in good ICO so that you can earn some from the new Altcoin and by trading also. Could mining is not an option at all, most of the cloud mining website is ponzi and they not involved in mining at all. The only way you can make 2bitcoin might be through magin trading or betting. |
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if you can find some others like yourself who are willing to learn and "share ideas" with each other is much better than what you are suggesting. this can be with a friend and about trading, i am already doing this with a close friend and we watch the market and analyze and share speculation with each other and then we invest individually.
you have to know that person and get the same amount that you give and know he is as willing as you.
perfect advice to op, if you can find some people that you know very well and are ready to share ideal with each other and you can start with donations not investment because immediately you said investment people will demand interest before even you start. |
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I see that many people here are trying to make profit with trading. I'm afraid to try I admit that, cause of several reasons, but its not important.
My idea is simple, can we create a group and money that we collect to invest in some trusted trader with good reputation. More people in group will bring more money for investing, profit will be shared and person that trade will get some reward. In the same time this will be huge help for many people here.
What do you think about this idea?
Good Idea but it might not work. The following reasons are what I think will affect the idea: 1. Trust, because there are several scammers online the People in is investment will only try to scam one another.2. Who control the fund; there is going to be issue of who control the fund and that will affect the traders3. Experience; experience has show that most of this kind of investment end up as ponzi. |
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You need to get verified, which raises the withdrawal limit to $25000
When OP is concerning about submitting documents due to his privacy/ security reasons, he can have multiple accounts (different email IDs are enough) with same exchange or we can trade on multiple exchanges to have high withdraw limit. Good idea. But I guess I do not need to have multiple accounts because being a basic email only verified account holder, I'm having enough limits for withdrawing. It is only for professional traders with the huge volumes may require to follow your idea if they are very much worrying about their privacy and not willing to submit their documents. I also open account with poloniex but find difficult to understand how to set a limit. But from what you are said I think is different from what op is asking. |
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What attracts you towards bitcoin?
I'm asking this because it could be different from person to person. Different people may like different aspects of bitcoin. So what do you like the most about it?
I am attracted to bitcoin for the following reasons:PayPal is not accepted were I coming from but I can receive and send bitcoin from my country, Trading bitcoin and other crypto currency is easy because of low volatile of the market compared to forex, most of the exchange bitcoin and crypto currency site send my earned without asking me to send my passport or other mode of identification and finally I can easily make bitcoin by just mining them but I cannot produce raw cash. |
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I just read some article about Forex trading. I read that 90% of traders in Forex Fail or lose their money and 10% are succeed and make a large profit.
I am just wondering if the Forex is better that C-cex because as far as I know Forex is using Real amount rather a Real money and at C-cex is altcoins. So do you think trying the luck in Forex can make a profit or just stay at bitcoin trading? Luck and strategy is needed but what do you think is safer C-cex or Forex?
C-cex and Forex are same in some aspect so what? Cryptocurrency or real money?
Money is basically a mean's or a medium of exchange. Crytocurrency is also money because is a medium of exchange too. If you can used you bitcoin to purchase a usd or gpb that is forex trading. Forex is were you trading or exchange money for money. However I think forex; that is legal tender and bitcoin that mathematical tender have a little different, because of crypto currency is not backed up by human law but computers laws. |
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What if it was the sacrificed child of your enemy? What if it gave you secret powers? What if it held the key to world domination? Would you do it? Would you eat another person?
the bible said love your enemies, pray for those who wickedly used you. How can you eat humans being because of have an enemies or because of a secret power. A power I will get and the condition is that I must eat a human flesh may God forbid me. |
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Google and you will find millions answer to your topic. Most times we find it difficult to believe or look for solutions for our problems for free with Google.
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guess I will ask the questions none has asked for some reason: what made you quit Forex trading and start crypto trading? or are you doing both at the moment? when you have tested crypto trading enough would you mind to compare two? what is the primary purpose of your thread:selfeducation,education of others,selfmotivation,exposure etc? it is interesting to read about someone's experience in this field,especially if it is 8 years of experience,please carry on  bitcoin or other coin trading are the same and bitcoin exchange is the same as forex trading. I believe bitcoin and usd is the same the only different is the exchange value and regulations. In trading both bitcoin and usd is the same because you make money either the currency is going up or is going down and you only succeed in both assets on your skills and expert. |
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What is the difference between webclient wallet and another one? Can the web account can sign for the ownership?
Thank You
Posted From bitcointalk.org Android App
web wallets like blockchain.info, xapo, coinbase e.t.c is were you can store your coin online in an account you open with the above site. Most time it is more risky to store your coin in web wallet compared to the one you store in you computer system. Web wallet are prone to hankers attack,and if you really want to keep your coins save the best way is to store your coin on you computer system that only you have access to. Thanks. |
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