Hello, Trades,
I'm a new forex trader and I'm spending a good time becoming a good forex trader but I want to point the biggest scam or point which you should avoid at the beginning.
Point 1 - Forex not going to rich us. It works like a business and it takes good time
Point 2 - Don't be greedy too much cause nobody can guarantee you in this market
Point 3 - Forex Signal not going to help you to become a good profitable trader and it's surely scam not everyone but most of them
Point 4 - Yes you can spend your money by following signals or copied trades if you have enough money and are ready to lose or don't want to cry or don't want to blame
Point 5 - Starting I expect a 50% return but now I'm looking for 5-10% growth per month. That's the difference
Now let's talk about why you should avoid or Join Forex Signals Provider. Again, I'm not pointing to all signal providers but most of them do this and we just take the position without thinking after they provide the signals.
I've joined 2 Premium Signal providers and a few Free Signal provides as well cause they offer more signals in paid or premium channels but the logic is the same. They provide 3-5 signals every day and they offered TP1(20 Pips), TP2(50 Pips), TP3(100 Pips). Really good right. But what's the problem then?
The problem is they basically do RR 1:1 not 1:3 but how do they offer 3 TP then? Here we go, they Set their Stop loss of 100 Pips. Once I get this I stopped to follow all types of signals. Cause if they do 1:3 then their TP3 should be 300 Pips, not 100 pips. And we're risking 100 Pips to get only 20 Pips? What's the logic behind this?
As a beginner, I'm doing great and proud of myself but when they said they have 5 years experience then why do they take the risk of 100 Pips to get TP1(20 Pips). I thought I should share all these points. Might be helpful.
Because, if I go for 1:3 then stop loss 30 Pips and aim 90 pips or stop loss 100 Pips and aim 300 Pips. Simple as that. Please let me know if I get this right or not. May Be I could do some mistakes to understand this concept. Your valuable comment helps me to understand or become a good trader. God bless us all and wish everybody to succeed.
I'm a new forex trader and I'm spending a good time becoming a good forex trader but I want to point the biggest scam or point which you should avoid at the beginning.
Point 1 - Forex not going to rich us. It works like a business and it takes good time
Point 2 - Don't be greedy too much cause nobody can guarantee you in this market
Point 3 - Forex Signal not going to help you to become a good profitable trader and it's surely scam not everyone but most of them
Point 4 - Yes you can spend your money by following signals or copied trades if you have enough money and are ready to lose or don't want to cry or don't want to blame
Point 5 - Starting I expect a 50% return but now I'm looking for 5-10% growth per month. That's the difference
Now let's talk about why you should avoid or Join Forex Signals Provider. Again, I'm not pointing to all signal providers but most of them do this and we just take the position without thinking after they provide the signals.
I've joined 2 Premium Signal providers and a few Free Signal provides as well cause they offer more signals in paid or premium channels but the logic is the same. They provide 3-5 signals every day and they offered TP1(20 Pips), TP2(50 Pips), TP3(100 Pips). Really good right. But what's the problem then?
The problem is they basically do RR 1:1 not 1:3 but how do they offer 3 TP then? Here we go, they Set their Stop loss of 100 Pips. Once I get this I stopped to follow all types of signals. Cause if they do 1:3 then their TP3 should be 300 Pips, not 100 pips. And we're risking 100 Pips to get only 20 Pips? What's the logic behind this?
As a beginner, I'm doing great and proud of myself but when they said they have 5 years experience then why do they take the risk of 100 Pips to get TP1(20 Pips). I thought I should share all these points. Might be helpful.
Because, if I go for 1:3 then stop loss 30 Pips and aim 90 pips or stop loss 100 Pips and aim 300 Pips. Simple as that. Please let me know if I get this right or not. May Be I could do some mistakes to understand this concept. Your valuable comment helps me to understand or become a good trader. God bless us all and wish everybody to succeed.