Why I'd prefer to be forex trader of my own

wxa7115

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Quote from: Rruchi man on August 26, 2021, 10:56:59 PM

Quote from: Rockstarguy on August 20, 2021, 07:30:44 AM

I would prefer to learn forex trading than for me to give a forex academy to manage my fund or to trade for me.

Learning to trade on your own is long term compared to giving your capital to an individual or forex academy to trade for you which is short lived. The reason i say so is - if you learn to trade on your own, it becomes a life long skill that you are bound to become better at as long as there is constant practice from your side. Giving your capital to someone or an academy is not so advicable because if the academy or person doesn't teach you how to trade, if anything happens that stops the trading of this individual or academy, that may be the end of your trading career.

Trading academies which charge you a fortune are scams, there is no other way around it, I have seen courses going as high as a few thousands dollars for just two classes of two hours each, that is not going to be enough to address all of the doubts the students may have.

So like in most instances the best way to learn is on your own, after all most of the information that you are going to find on those courses is already online with the advantage that is free and you can save yourself that money and use it when you are trading for real on the markets.

xwshamim

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Its always a good thing to manage your fund on your own i also do the same. I Don't trust anyone with my fund other than me. It help me a lot. Whenever i need money i don't have to ask anyone to give me my money. I can use them as i want

Ararbermas

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If you fell comfortable with forex then stay on it and don't just rely in what other people saying because it can't help to be honest, and for your information most of them are fraud to let them fell what are their experienced when it comes trading.. So if i were you must decide and pick the best one for you, because it's your money so you should make your own decision for it.

Rruchi man

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Quote from: Rockstarguy on August 20, 2021, 07:30:44 AM

I would prefer to learn forex trading than for me to give a forex academy to manage my fund or to trade for me.

Learning to trade on your own is long term compared to giving your capital to an individual or forex academy to trade for you which is short lived. The reason i say so is - if you learn to trade on your own, it becomes a life long skill that you are bound to become better at as long as there is constant practice from your side. Giving your capital to someone or an academy is not so advicable because if the academy or person doesn't teach you how to trade, if anything happens that stops the trading of this individual or academy, that may be the end of your trading career.

Dewi Aries

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Quote from: Rockstarguy on August 20, 2021, 07:30:44 AM

I would prefer to learn forex trading than for me to give a forex academy to manage my fund or to trade for me. There are countless forex academy who claim to do perfect trading for people to deliver profits. some of these academies are doing well, they making good delivery. While I have come across some forex academy whereby it was been shot down because they were not able to meet up with trading percentage they were supposed to return to there customers, and nobody knows the were about of this fx academy.

I prefer to learn how to trade myself because most forex academy I don't know there foundation if they are legit, anything can happen. It is better to have the knowledge about the market, meet mentors that will give the necessary idea and sound knowledge about forex trading. Trading myself I will hold my self responsible for low performances or losses. I will be able to manage capitals myself, and my losses or low performance can trigger me to do better.

As forex or crypto trader, as long it is profitable it is good for everyone. Because there are maybe some crypto traders who not jumped into forex because it more complicated, and some forex trader not joined into crypto because they already have big profit at forex. Both thing can be good to do as long we are doing it with knowledge and anything that can help us get profit in it. Like me i prefer on crypto trading because maybe not complicated like forex.

wxa7115

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Quote from: Rockstarguy on August 20, 2021, 07:30:44 AM

I would prefer to learn forex trading than for me to give a forex academy to manage my fund or to trade for me. There are countless forex academy who claim to do perfect trading for people to deliver profits. some of these academies are doing well, they making good delivery. While I have come across some forex academy whereby it was been shot down because they were not able to meet up with trading percentage they were supposed to return to there customers, and nobody knows the were about of this fx academy.

I prefer to learn how to trade myself because most forex academy I don't know there foundation if they are legit, anything can happen. It is better to have the knowledge about the market, meet mentors that will give the necessary idea and sound knowledge about forex trading. Trading myself I will hold my self responsible for low performances or losses. I will be able to manage capitals myself, and my losses or low performance can trigger me to do better.

If you are going to beat the markets then you might as well do it yourself, and the reason for this is that it is going to be almost impossible to beat the market if you hire someone else to do it for you and that is because they are going to charge you fees.

Now that doesn't seem like a big deal, however even if the fees that you're charged are very low this is going to act as a handicap against you and unless the trader that you are hiring is incredibly good you're not going to be able to outperform the market, as such the best option like always is to try to do it yourself as that is the only legitimate chance that you are going to have of beating the markets and obtaining profits.

AakZaki

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Quote from: ipanks on August 24, 2021, 06:08:09 AM

Each person would have their own decision to use forex or crypto to trade. If you choose forex as your way to make money, you must learn and master the skills for forex trading. No need to join in the forex academy if you think that is not enough to fills what you want because as long as you can search for the lesson on the internet, that will enough to get as much lessons as you want. That is what we did in the crypto trading and only with learning that we can do to improve our skills to get something that we want.

Knowledge on the internet is very much and can be searched for yourself. Self-taught and focused will give you more knowledge that you won't get in the academy.
I also never trade in forex, I fully trade in cryptocurrencies too.
Everyone has their own choices, so whatever they choose is their responsibility.

ipanks

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Each person would have their own decision to use forex or crypto to trade. If you choose forex as your way to make money, you must learn and master the skills for forex trading. No need to join in the forex academy if you think that is not enough to fills what you want because as long as you can search for the lesson on the internet, that will enough to get as much lessons as you want. That is what we did in the crypto trading and only with learning that we can do to improve our skills to get something that we want.

palle11

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Quote from: so98nn on August 24, 2021, 05:08:40 AM

Instead of getting stressed out with hundreds of questions it’s always better to keep my money with myself and trade it slowly and grow the assets with lowest risk. Grin

This is the advantage of trading on forex and making gradual profit, with such you will be surprised at your accumulated profit. Reducing the lot size to bearest range which is 0.01 to pick your pips slowly is better than rushing and increasing it. Also wiisuch low lot size, your losses too will be very minimal incase the order hit the stoploss. But at every trade, stop loss is important because it has plenty of advantages.

so98nn

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Exactly, this varies person to person. Someone with millions of dollars on their hands might not have time to look forward to see how they are investing in trading. All they would want is to get their money traded into profits no matter what. They might be busy in earning another asset through their business and stuff. But someone like me, whose not prospered enough might keep the money for myself and trade all by myself and would also fear to give extra fees or commission to the forex companies.

Instead of getting stressed out with hundreds of questions it’s always better to keep my money with myself and trade it slowly and grow the assets with lowest risk. Grin

Rockstarguy

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Quote from: Boov on August 20, 2021, 05:03:51 PM

Forex trader all alone isn't a problem unless you're doing it right together with those expert mentor who could guide in trading. Much more advantage while your skills isn't yet fully equipped with knowledge towards trading in whole process. We should make forex as you footsteps before dealing with cryptocurrency, because on that stage I am confident that it's going to have good outcome in earning higher gains. Experience always matters, let's bare that in mind.

Forex traders are not problem at all . The reason why I prefer to get the knowledge or to trade on my own is to prevent the risk of someone that at the end of the day he won't be able to deliver..

And it is good 😊 for me learn to have the knowledge. Nothing is too add

yhiaali3

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As the saying goes: "Don't give me a fish every day, but teach me how to fish." That's right, it's not wise to give your money management to anyone, no matter how much you have to learn to trade and manage your money, you will surely run into a lot of problems in the beginning and may suffer some losses But for sure you will succeed in the end and you will learn how to manage your money skillfully and you will gain a lot of experience, although I do not advise you to trade forex because it has very high risks. Trading in cryptocurrencies is much better.

palle11

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Quote from: Rockstarguy on August 20, 2021, 07:30:44 AM

I don't know there foundation if they are legit, anything can happen.

The foundation being legit is not even the challenge but actually the real business of doing the trade and making profit for you, forex trade is not easy and that is the fact. Not every FX trader make profit and they go into business of pretending to being experts and they advertise for people to give them their money. You fall for this people because of laziness to learn or lack of interest to the business but want to enjoy the money in it.

Back sometime ago , I think there was a body that was responsible to backlist some forex companies that were scamming traders who register with them. You don't get to know they are fake and scammers until you make profit but can't withdraw your money. A body was responsible on that, I think if a remember it was called "forexpeace army".

Hippocrypto

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Trading all alone can establish a good outcome rather that taking risk on different groups that gave advices. Mostly these people who handled this certain discussion was paid by huge exchanges who manipulates people and give promising advices that wouldn't coincide in real trading situation. Forex trading is a good start in order to familiarize what's all in this field. Crypto will just follow and all the skills will develop once, you undergo several challenges during crucial trades.

TelolettOm

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Very promising trading, isn't it?
Trading forex and also crypto always have two sides different. This may be very risky to Bitcoin moreover with its high volatility.
If you like trading Forex more than crypto, why are you still here?
Crypto is also very promising if we really why the exact ways of trading and investment.
This may be different with your like or dislike. You may not be a high risk-taker so that you can consider which fits to you

Obito

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You have to step out of your comfort zone in the future, remember that you can't just do forex forever, it will suck the soul out of you. You could always opt for choosing to ask for the help of a professional, yes you need to pay them but it frees a lot of your time which you can use for other endeavors you might want to do.

semobo

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Learning is not going to be successful when we learn it, this should be experienced and have to face the ups and downs either it can be crypto or even fores the structure maybe the same but not the same strategies can be applied on every aspect. If you prefer to learn on your own then you saved the money from paying the fee for your academy.

Zilon

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It begins with a step. Find a good academy where you can learn for yourself but I would rather prefer you learn how to trade crypto instead which has better volatility and also it can be traded over the weekend unlike forex. I wish you well but get prepared for the risk ahead. It would be better to start your quest early so you start reaping the fruits early enough but choose crypto over forex except you choose to trade Xau along side crypto.

sheenshane

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Quote from: Rockstarguy on August 20, 2021, 07:30:44 AM

I prefer to learn how to trade myself because most forex academy I don't know there foundation if they are legit, anything can happen.

Unfortunately, you're here in the crypto trading discussion forum and all we discussed here was more related to crypto.

It's up to you if where you're comfortable to trade, there are some traders who are now switching to cryptocurrency because they know that the volatility will give them a chance to potentially gained profit if you know how to the strategies and analysis on it. High volatility is equal to high profit nor losses if you don't know about it while forex was slow volatility and possible slow progress profit or commonly it will take time before you have a profit. But it seems there you are in a comfort zone and you think it's profitable to you, just go ahead and enjoy those profits you have in forex.

Quote from: Rengga Jati on August 20, 2021, 06:04:43 PM

Quote from: Rockstarguy on August 20, 2021, 07:30:44 AM

...There are countless forex academy who claim to do perfect trading for people to deliver profits. ...

I never trade Forex and never learn about it.
But I am curious about this statement.
Is it true that there is "There are countless forex academy who claim to do perfect trading for people to deliver profits" as you said?

Just also curious about this, is this a win-win situation?
Please OP, give more info.

Rengga Jati

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Quote from: Rockstarguy on August 20, 2021, 07:30:44 AM

...There are countless forex academy who claim to do perfect trading for people to deliver profits. ...

I never trade Forex and never learn about it.
But I am curious about this statement.
Is it true that there is "There are countless forex academy who claim to do perfect trading for people to deliver profits" as you said?
Afaik, PERFECT means 100%, right? Does it mean that they never lose their money in trading forex? And guarantee nobody that learns in their academy will lose? they will always win 100% and be perfect?
Wow, if it is right, just stay there, mate, and don't even go to the crypto market anymore for you. Because here, none is perfect. Wink

Johnyz

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This is good, at least you know what you want and you really work on it because we all have reasons in trading and we can’t force anyone to follow our strategies. Personally, Forex wont work for me because its too volatile I mean I need to watch the market closely while in cryptomarket, I can just buy and hold good coins and it’ll make profit to me. Maybe in the future I’ll start learning to trade forex since diversification is a must.

Ekeleboy

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I think your decision is a great one. And you have good reasons backing up your decisions too.
I'll just add that your start small, and don't in the bid of proofing yourself over do it. Trading requires precision as well as patience.
Get yourself a mentor or a expert who can guide you.
Also understand the risks and avoid as many as possible.

harizen

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If you think that will be your comfort zone then you are free to do it anytime you want. It's good that you are pursuing what you think is manageable by you and not just you saw others profiting at it and will force yourself to engage on it even you don't want.

I think you don't need any piece of advice as you are already decided. I will just say that you should focus on it and not just showing your best during the early phase of your investment.

Goodluck then and hoping you a success.

Boov

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Forex trader all alone isn't a problem unless you're doing it right together with those expert mentor who could guide in trading. Much more advantage while your skills isn't yet fully equipped with knowledge towards trading in whole process. We should make forex as you footsteps before dealing with cryptocurrency, because on that stage I am confident that it's going to have good outcome in earning higher gains. Experience always matters, let's bare that in mind.

mk4

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For the people who don't want to do the investing/trading on their own, the obvious option would just be to invest in a low cost index fund(or bitcoin when talking about the cryptocurrency space). But even if it's the obvious option, well, the gains aren't attractive to most people simply because they want something like 100% monthly or something lmao. They think they could just copy trade someone and not do work anymore.

New.in.trading

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I think if you want to "only" receive some gains on a yearly basis, you could easily go and invest in one of those indices out there. They are actually really good, as long as the big banks push all their money in them. But if you want to pay your bills from trading... go and learn it. It might be btcusd or eurusd, but in the end, once you know what you are doing, there is a good chance you will pay some bills from this...

boyptc

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Yes, your money, your rule.

And that's why you have to trade with your money and don't just rely on fund managers if you're going to trade it. You learn and as well as get to know the different sides and risk of trading.

If you've chosen forex, stay there and be well.

zanezane

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That depends on people, if you don't want to waste time but still make money albeit in small amount, you can chose the option of people trading for you and managing your funds, it's actually a better one to be honest, Index funds and other stocks are like that and people choose that over them being active in trading their own funds. Now that is if you aren't good at trading but if you're confident then you can probably go for it. It's a matter of choice and what you value, your money/profit or your time.

Rockstarguy

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I would prefer to learn forex trading than for me to give a forex academy to manage my fund or to trade for me. There are countless forex academy who claim to do perfect trading for people to deliver profits. some of these academies are doing well, they making good delivery. While I have come across some forex academy whereby it was been shot down because they were not able to meet up with trading percentage they were supposed to return to there customers, and nobody knows the were about of this fx academy.

I prefer to learn how to trade myself because most forex academy I don't know there foundation if they are legit, anything can happen. It is better to have the knowledge about the market, meet mentors that will give the necessary idea and sound knowledge about forex trading. Trading myself I will hold my self responsible for low performances or losses. I will be able to manage capitals myself, and my losses or low performance can trigger me to do better.

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