Recent content by Painskin

  1. Painskin

    What kind of news should I pay attention to?

    You have to pay attention to all the news which somehow concerns the matter of your trading. If you're a day trader and got used to trade eur/gbp then you have to check the news which are connected with european union and the USA. I believe in this case you will be able to analyze everything...
  2. Painskin

    Risk %

    If we talk about money management principles and you are interested to know about the percentage of your deposit to invest in the deals, then I would say that the most adequate number wuld be around 3-5% depending on your trading style and risk portfolio. However, this number is relevant to...
  3. Painskin

    Trading is not Science

    Perhaps, it is the question of what you imply in the concept of science and art. As for me, I think that trading is more about science than the art. I mean that, of course, it is not like some physical experiment when you are able to predict the outcome in all of the cases and the outcomes are...
  4. Painskin

    Early Investing Advice

    It is a natural desire to invest your savings into something which will generate your more or less passive income, however, if I were you I would explore more investing opportunities apart from forex. Trading forex can actually bring you some decent and consistent profits, but it is also able to...
  5. Painskin

    When we can trade without stop loss?

    It is not necessarily to use stop losses all the time. It is important to have mental stop loss in order to know your risks and take them. It will be not as accurate and precise as a pending order but it is still important to realise when to close the deal.
  6. Painskin

    How long to demo and when to invest

    I guess you're quite right. Experience is the best teacher though. Staying on demo too long can cause a beginner's inability to start trading on a live account. A trader will simply scare of tarting trading on a real account just because he set up his mind incorrenctly while trading on a demo...
  7. Painskin

    Account size to trade full time?

    Agree with you. Beginners have to think of how much money do they ready to invest in trading acitivty and from this sum they have to formulate and create their tading strategy. Of course, fulltrade doesn't mean a huge account size as well as part-time trading, but it really matters in case...
  8. Painskin (by

    I suppose you mean setting buy stop limit order within a price range that is below the current price? But what are you going to do if the price keeps falling? It may breach a strong support level and keep plunging. You should set an if-done stop-loss order in that case.
  9. Painskin

    Have you improved your trading psychology?

    Of course learning process of every trader consits of permanent improvement of trading psychology and common knowledge in trading I guess. It's difficult sometimes to adopt to it however it's the only way to trade wisely and safely. Psychology means that you have to turn off your brain while...
  10. Painskin

    First steps on trading

    First of all, you've got to learn some theoretical stuff. THere are so many different tutorials like Forex Military School or babypips or whatever. The most pleasant thing about forex learning is that all the information you need is free of charge, so, don't spend money on different courses or...
  11. Painskin

    Advices for an intermediate trader.

    I don't think you have to follow only one advice, I'd recommend you not to take losses too hard and try to understand that it's okay in trading activity. Moreover, you always have to learn, learn and once learn, because learning is an inevitable part of every trader. Look for some ducational...
  12. Painskin (by

    I think this type of order can be used for the breakthrough strategy. Like you bet that if the market goes through a significant support/resistance range, then there’s a likelihood that the price action will continue in the same direction as some stop-loss orders might be triggered. Besides, you...
  13. Painskin (by

    I can see a function of trading in one click in cTrader. Several brokers point out this option as a unique advantage. Correct me if I’m wrong, but MT4 also has it..
  14. Painskin (by

    I used to study in MT4, then I traded on MT4 for a while. After I checked the cTrader, I can say that platform matters. I do not have a lot of experience in trading so far, and I do not trust algorithms at this point as I have to understand the market mechanisms before using bots. So use an...
  15. Painskin

    US Stimulus and China GDP May Further Support Riskier Assets

    Despite the fact that the focus on the market has now shifted because of the situation in the U.S., it is too early to talk about any stable and positive changes. I think that this confrontation will be relevant for many years to come. It will just take different forms and consequences.