Every novice trader must learn from my trading account

Guys,trading forex needs lot of patience and discipline.If you see my trading results, you can clearly notice that in the month of august, I had almost 6 continuous stop loss hits in swing trading.This is the time that most novice traders will get upset and try to recover their lost money immediately.Finally, they will end up blowing their trading account.
            But, you can see the next september and october month I was so patient without altering my trading plan and finally I recovered all my august month losses with great discipline.This is real trading my dear friends.This is the reality of trading.It's not a get quick rich scheme, it's a marathon.
         If you stay as discipline and patient like me, then you will be a successful trader.All the best.

You seem to be quite experienced in controlling your emotions. Can you share some tips how you manage to do it? Maybe there are some common rules everyone can apply, especially the new traders. Cheers!

Yes, I can share with you tiffany. First and foremost thing is you must consider trading as your second source of income.That means, you must make decent money from your primary source to run your family.Next thing is never do trading alone with your computer, form a team(may be your life partner or anyone who stays with you). Now two brains are doing trading and not one.If you can do these two things, then you can control your emotions and will nver commit emotional trading mistakes.
     
                    

Every novice trader should start with a demo trading platform and trade with at least two currency pairs. These currency pairs should be traded with complete due diligence, keeping in mind the technical support & resistance levels. Tracking the currency pairs over the day and finding its deviation & relationship with other trading pairs can help you find correlation between them. When two trading instruments move in same direction, they are positively correlated. But when two trading instruments move in opposite direction, they are negatively correlated. You can build a correlation table by simply typing the prices of the different instruments at different times.

prakash104 posted:
Yes, I can share with you tiffany. First and foremost thing is you must consider trading as your second source of income.That means, you must make decent money from your primary source to run your family.Next thing is never do trading alone with your computer, form a team(may be your life partner or anyone who stays with you). Now two brains are doing trading and not one.If you can do these two things, then you can control your emotions and will nver commit emotional trading mistakes.
     
                    

Thanks for sharing! All makes sense 😄 The concept of forming a team is particularly interesting. Good approach.

To make money, a trader should gather all kinds of knowledge about this market. It will be beneficial for him to survive in this market.

New traders should practice on a demo account before investing their money in the forex market.

I just follow my strategy, even if there are some problems after news. if there's a problem so SL will be activated

Well, I like your claims and it is good that you decide to contribute to helping new traders. Good luck to you.

prakash104 posted:
Yes, I can share with you tiffany. First and foremost thing is you must consider trading as your second source of income.That means, you must make decent money from your primary source to run your family.Next thing is never do trading alone with your computer, form a team(may be your life partner or anyone who stays with you). Now two brains are doing trading and not one.If you can do these two things, then you can control your emotions and will nver commit emotional trading mistakes.
     
                    

This is such an interesting approach. Good thinking.

Indeed, you can use some interesting ideas for yourself and adjust to your trading.

Any idea for each trader works differently, so you can take as a basis what is already making a profit and adjust it for yourself

Yes you are right and having a good trading account with the right broker can be beneficial for the trader.

I think that before entering the market, you need to study all the information about the market, trading, brokers. It was hard for me to choose the right broker. I searched a lot of sites in order to find something good. I also spent a lot of time looking for a broker and accidentally found this site Finarm, which has a whole bunch of different companies listed. It's pretty convenient and can give you some insights.

It is not possible to make money in trading without patience. A trader can survive in the forex market depending on patience. There can be many losses. But that loss has to be dealt with with a positive mindset.

Start with a demo account. Don’t rush to real trading.

All new traders must know and aware of the risk of trading.

Forex traders nowadays is really lucky since lots of free online material that traders could get easily. all of them is really useful because written by expert traders experience. traders can use these material as guidance and if lucky, maybe will found a strategy that suitable with them.