Re: 5 Things I have learned in 5 years of trading!

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I would say ive "learned" that demo trading is the way to go until you can confidently pull the trigger on a trade and not blow your account..over.and.over. Unfortunately learned is a strong word for me, but ill say it out loud here anywyays in hopes that someone smarter can actually take advice and use it to their advantage. Find one pair and get to know it very well. If you cannot make profit with one currency set, you probably wont make a profit on 30 other ones either. Focus and someone above said it, DO NOT GIVE UP.




Re: 5 Things I have learned in 5 years of trading!

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sebking1986 wrote: Mon Aug 16, 2021 8:01 pm 5 Things I have learned in 5 years of trading!
A broker is not that important. 90% of them are fine so use whatever one you are comfortable with. I use CedarFX as I use Bitcoin
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cedarfx is located in a building in kingstown where there are literally dozens of chopshop bucketshop brokers, but they wont even provide to you a complete street address.
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they are located in the griffith corporate centre in kingstown, which is a nest of bucket shop brokers that simply collect your deposits and give back as little in withdrawls as possible, and in the end they simply close down and keep all of your deposits.

https://www.google.com/search?q=griffit ... ate+centre
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the scamming is so rampant at this "griffith corporate centre" that the management company has had to put a notice up on their website advising people how to properly complain about the many scams that are operating in their building... basically, the management is trying to act like they arent a part of the game/scam..

link: https://griffithcorporatecentre.com/202 ... te-centre/
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archive: https://archive.ph/e35Cg

and btw, it isnt just suite 305 that is involved in these bucket shop forex broker scams, it is the entire building..

let me explain the scam... https://files.catbox.moe/wkb648.mp3

these are "cash cows" for criminals.. this is gangster paradise.

as long as their traders are losing overall, they pocket your losses.

they always have the option to just close up shop and keep all of your deposits and you will have no recourse, because you dont even know who they are..
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Re: 5 Things I have learned in 5 years of trading!

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Not been my experience with them at all and hasn't been as longh as I've used them. I also use IC Markets and IG and have no issue there either. Different tools for different jobs. Using offshore brokers doesn't concern me personally if they have a decent enough reputation from enough sources. In many cases you have a low barrier to entry with them as well so you can test them out. Thanks for your concern though.

Re: 5 Things I have learned in 5 years of trading!

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sebking1986 wrote: Mon Aug 16, 2021 8:01 pm 5 Things I have learned in 5 years of trading!

  1. A broker is not that important. 90% of them are fine so use whatever one you are comfortable with. I use CedarFX as I use Bitcoin to deposit and withdraw and it is very quick, also the tree planting is good. It all helps.
  2. Social Media "gurus" often don’t actually trade themselves and make their money conning the vast majority of people coming into trading looking for quick cash – don’t get caught out!
  3. Nobody can give you a ready-made strategy and then send you off to start making money. A strategy is something personal to you in terms of time, risk tolerance, psychology, speed of the market etc. Take bits from different sources and then take the time to formulate and test your own strategy that fits your own parameters. There is no “one-size fits all” in trading.
  4. Trading of any type is NOT A GET RICH QUICK SCHEME! It takes time for the above reasons to first learn the basics and then formulate a strategy, test it thoroughly and implement it.
  5. Set achievable goals – when you first start break even at the end of the month might be a great target for you and that is fine. Not losing long term is priority number one to protect your capital. Don’t compare your 1000hrs of practice to another person’s 10,000hrs. Be better than you were 6 months ago and focus on that.

What else have you all learned in your time trading?
What I've been learned in the past 6 years is, confirmation indicator is let you know "Hey, here is a possible entry point, do your analyse before entry" and not "Hey, enter a Buy/Sell trade NOW! Don't need to do any analyse! Just TRUST MY ARROW!" :)


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