Altcoins Talks - Cryptocurrency Forum
Further Discussions => Trading (Not crypto) => Topic started by: Sukii on September 24, 2024, 04:28:00 PM
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For a beginner in forex you really shouldn't depend fully on signals you get from different telegram groups and other places
You should learn how to properly analyse the market yourself and determine the direction of the candle
If yiu don't do that you will probably not do to well
In forex
Except you don't plan on doing it for a long time
If you intend on making it a source of income then you should endeavour to learn how to trade yourself and be self dependent
Don't get me wrong you can also take signals from time to time but Don't depend entirely on it
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For a beginner in forex you really shouldn't depend fully on signals you get from different telegram groups and other places
You should learn how to properly analyse the market yourself and determine the direction of the candle
If yiu don't do that you will probably not do to well
In forex
Except you don't plan on doing it for a long time
If you intend on making it a source of income then you should endeavour to learn how to trade yourself and be self dependent
Don't get me wrong you can also take signals from time to time but Don't depend entirely on it
A very common mistakes a lot of Beginners make is to start trading when they haven't acquired the right amount of experience and knowledge they need to successfully run their trades, instead they look for trading signals and after doing this for a long time they will have no strategy development or even know how to place a trade themselves because they have been relying on trading signals. As a beginner learn the technicalities of the market first, focus on the basics you need, don't rush the process and try to have a mentor that can guide you. A lot of people think forex trading is always luck based like gambling, it's definitely not. In order for your losses not to outweigh your profits you must study for a long time
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A very common mistakes a lot of Beginners make is to start trading when they haven't acquired the right amount of experience and knowledge they need to successfully run their trades, instead they look for trading signals and after doing this for a long time they will have no strategy development or even know how to place a trade themselves because they have been relying on trading signals. As a beginner learn the technicalities of the market first, focus on the basics you need, don't rush the process and try to have a mentor that can guide you. A lot of people think forex trading is always luck based like gambling, it's definitely not. In order for your losses not to outweigh your profits you must study for a long time
As a demo trader you are actually supposed to constantly take stimulations to test how effective your trading strategy works on the market that's the more reason you should have a demo account. As you continue to read and gradually progress in your technical analysis in trading, you should constantly try out what you've learned so far on the demo account as it helps you evaluate how effective your trading strategy actually is.
Where many beginners get it wrong is placing live trades on their account say a buy trade just because they see a couple of buy candles without actually understanding how the market dynamics work. Trading can be very technical however with constant research and practice one gradually gets a hang of how the market behaves as well as how to take advantage of the market movements in your favour.
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Signals is not a good way to start as an aspiring forex trader or a beginner forex trader. By doing that, it will only limit how far you can go with your trading skill, it’ll limit you to many things that you ought to have been doing yourself. It is very obvious that those that depend on signals don’t know how to analyse the market and if there are those that does, it’ll only be few percentage of them.
The forex market requires you to always be active on the chart and learn and be acquainted to the directions of the market but if you don’t learn that way, you’ll miss out on many things that you can’t get in the market again. Those that depend on signals only wait for signals to take their trade, they don’t even check to see why they’re been told to take signals at those points. All they are after is just to make the money and not the skills.
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Except you don't plan on doing it for a long time
If you intend on making it a source of income then you should endeavour to learn how to trade yourself and be self dependent
Don't get me wrong you can also take signals from time to time but Don't depend entirely on it
If you must be in a signal group, then it has to be that you are the admin giving out the signals, otherwise avoid it if you really want to be a trader.
The people who give those signals in those signal groups are also people like yourself who spent time to develop their craft so that they can get to this level where they are. Depending on signal groups means that you do not want to trade for long because if anything happens to them or they make analysis when they are psychologically and emotionally imbalance, you would lose money as a result of their mistake.
Invest your time as a newbie to trading into learning and in a few months you will thank yourself for it.
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I usually dont advice someone who has the intention of becoming a forex trader to start by joining signal groups. Most of these channels are just there to help the owners find their own trading journey while you serve as the fund providers. Not that they don't actually drop good signals but then you cannot be 100% sure if they are good with the market. It might just be someone who is also in other signal groups, coping and sending these signals for others and making money our of them.
Again, this will slow down your learning ability. Forex is broad and if you are ready to learn and break into your financial freedom, the. You should try your best to study the technical and psychological analysis of the market. This will help you in your journey to becoming a profitable trader.
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I usually dont advice someone who has the intention of becoming a forex trader to start by joining signal groups. Most of these channels are just there to help the owners find their own trading journey while you serve as the fund providers. Not that they don't actually drop good signals but then you cannot be 100% sure if they are good with the market. It might just be someone who is also in other signal groups, coping and sending these signals for others and making money our of them.
Again, this will slow down your learning ability. Forex is broad and if you are ready to learn and break into your financial freedom, the. You should try your best to study the technical and psychological analysis of the market. This will help you in your journey to becoming a profitable trader.
Well in that case what if the person is actually earning alot from these signals been dropped
I know it will really cause a retardation in the growth of the person's ability but isn't the aim to earn more money
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Well in that case what if the person is actually earning alot from these signals been dropped
I know it will really cause a retardation in the growth of the person's ability but isn't the aim to earn more money
Not that taking trades from crypto signals aren't good, no body said so, the thing is about you knowing yourself in the forex market. Forex is broad, with lots of risk. The only way one can survive the forex market, is to understand the market it self and to do this you have to be a master on your own. Taking signals to trade the market doesn't actually makes you a forex trade, though you can make profits from these signals. But being a forex trader means you have the ability to be able to predict the markets direction on the long run.
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Not that taking trades from crypto signals aren't good, no body said so, the thing is about you knowing yourself in the forex market. Forex is broad, with lots of risk. The only way one can survive the forex market, is to understand the market it self and to do this you have to be a master on your own. Taking signals to trade the market doesn't actually makes you a forex trade, though you can make profits from these signals. But being a forex trader means you have the ability to be able to predict the markets direction on the long run.
Yes that's quite true. Copy traders really don't have an in-depth understanding of market dynamics and characters. All they are mostly good at is placing trades or orders as "foretold" without actually knowing the reason why that particular trend is valid based on a certain analysis. The truth is copy trading isn't bad just like you said, however it really doesn't help either. A lot of analysis are actually out there and technical traders try as much as possible to perfect them to minimise losses.
The truth is getting legit and sure signals isn't very easy and alongside that you would have to pay a decent amount to a decent trader to be able to get premium access. Copy trading doesn't really give much freedom like regular trading does.
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For a beginner in forex you really shouldn't depend fully on signals you get from different telegram groups and other places
You should learn how to properly analyse the market yourself and determine the direction of the candle
If yiu don't do that you will probably not do to well
In forex
Except you don't plan on doing it for a long time
If you intend on making it a source of income then you should endeavour to learn how to trade yourself and be self dependent
Don't get me wrong you can also take signals from time to time but Don't depend entirely on it
that's the fact when it comes to forex trading the most important thing is market predictions and flow so you have to make sure that you master the candle movement as it is key to you making profit, allot of people has lost trade simply because they take trading signals from others and start using it to trade so if the market signal changes they begin to worry. For anyone going into forex trading the first thing needed is your ability to read the candle stick and tell if the signals is likely going up
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Well in that case what if the person is actually earning alot from these signals been dropped
I know it will really cause a retardation in the growth of the person's ability but isn't the aim to earn more money
That’s the aim of it and if you're achieving the aim of it, you’ll really be dependent on that rather than self learning to improve yourself in the trading skill. There is a conception that when you’re dependent on signals, you’ll become more mentally retarded in trading than when you’re trading yourself and making losses, those will only make you better. Depending on someone is not bad but it’ll make you have doubts on yourself and on your knowledge acquired. Even when people that trade use signal and be profitable, it’s still better to learn in yourself and get losses to make you better in trading, the person you’re depending on may not be there forever to always give you the signal but when you have the knowledge, it’ll be with you forever.
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That’s the aim of it and if you're achieving the aim of it, you’ll really be dependent on that rather than self learning to improve yourself in the trading skill. There is a conception that when you’re dependent on signals, you’ll become more mentally retarded in trading than when you’re trading yourself and making losses, those will only make you better.
The way you view Forex tells how successful you tend to be at it. Forex is supposed to be a skill and one that has huge earnings attached to it especially for those that understand it properly. However these days people take it more like a money making scheme you should take advantage of and that is pretty much where the concept of copy trading comes into play.
To a real Forex trader that actually carries out his own independent analysis and outlines his strategies before executing trades, copy trading isn't something they fancy since you are literally entering the market blindfolded with SL and TP marks.
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For a beginner in forex you really shouldn't depend fully on signals you get from different telegram groups and other places
You should learn how to properly analyse the market yourself and determine the direction of the candle
If yiu don't do that you will probably not do to well
In forex
Except you don't plan on doing it for a long time
If you intend on making it a source of income then you should endeavour to learn how to trade yourself and be self dependent
Don't get me wrong you can also take signals from time to time but Don't depend entirely on it
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That is actually a lot of beginners mistakes, they see it a get rich quick scheme. I personally was a victim of this but soon realized that I was not going to go far depending on someone. Also I feel they always look at the learning curve as it is always a long journey. It is solely dependent on what the individual actually want.
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For a beginner in forex you really shouldn't depend fully on signals you get from different telegram groups and other places
A newbie should not even bother to look at trading signals at all when they are still start from scratch, signals group should only be looked at by people who have already become good in trading and not newbies. Trading signals groups are more like a distraction for the new and will cause the person not to even concentrate on learning but they would think that they can bypass their learning stage and start making money easily through the signal group, what they fail to realize is that those predictions in those signal groups can also be wrong. But if they are already good in trading, when they see a wrong signal, they can be able to filter the error out before taking the trade or avoid to take it, knowing that it will also cause them to lose.
After the experience I have seen some people faced, I usually advise newbies to learn how to trade and not put their attention to signal groups, unless they have become very skilled already.