A large part about whether someone is going to make it or not as a trader is time, money, and then skill. If he has the time, meaning that he can trade full time without having to focus on other things like a day job to support himself, that's one ...

from retail trader to full-time trader

Yes it does leave a lot of money on the table, but I wouldn't say that it doesn't make sense. You also leave a lot of risk on the table as well. Risk-reward are always inversely related. Plus you can get better at trading that particular currency vs ...

How Many Pairs Do You Trade?

I thought I'd come in and add my 2 cents to this surprisingly long thread. As may or may not already been stated, it is my belief that the necessity of stop losses also largely depends on a few factors. Those factors are the time frame and leverage. ...

Real Fx traders do not use stoploss

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a newbie in need of help

Way more lots than you can buy or sell. That's for sure.

Money needed to move 1 pip

^^^ This in my opinion. I mean volatility Friday seems to dry up around noon. I think it depends on your trading style. If you are a day trader and plan to close positions around noon, then I think trading Friday is okay. Otherwise if you are going ...

Why not trade on fridays?

I use both in conjunction. I have an initial stop that I adjust to breakeven as the trade moves in my favor and I have multiple TP as I scale out of the trade.

Trailing Stop or Take Profit?

Right now I only trade one. EURUSD.

How Many Pairs Do You Trade?

Well, seeing as how I have only been trading forex for about 6 months now, I would say the #1 is the hardest thing for me. Like most other rookie traders, I used to be a strategy whore and constantly readjust things and channge things around once ...

Your Trading Struggles - What is the biggest factor?

5 min chart if day trading and daily chart if swing trading. Yes it makes a difference. A strategy that works on a 5 min chart (which, besides the 1 min chart is said by many to be the hardest chart to trade due to all the noise and false movements) ...

What chart do you use? (M1, M5, M15) Does it make a difference?

It probably depends on who you ask, what strategy they use, and what time frame they use as to whether they are truly important or not. Some will swear by them and others largely ignore them. I believe they are more important in identifying bigger ...

Why moving averages are important?

1. Yes I use stop losses always. 2. Because the price can move too fast in forex and without a stop loss you can take a much larger loss than expected even before considering slippage. 3. I use 15 pip stop loss.

Do you use stoploss?

Generally I trade 1 to 2 times a day. Sometimes a whole day without a trade. Depends on if I see a setup or not. I used to trade 5-10 times a day, but I cut that down to focus my strategy more. I was trading all kinds of currencies with all kinds of ...

How often do u trade?