How to increase trading skills ?
Member Since Sep 06, 2013
137 posts
Jan 15, 2016 at 08:22
HalleyFX posted:FXtrader2010 posted:dianajs posted:of course it is, look at all the forums with people posting, after the fact.FXtrader2010 posted:
How to increase trading skills: practice not loosing money. That is all you have to to do.
That is often easier said than done. That said, I agree.
who said trading is easy?
He's 100% right!!!!!!
Rule #1 Don't lose money
Rule #2 See rule #1
Rule #3 Become obsessed not losing money!
My tip, open a live account, do like maximum of like 1k. That's fun money nonetheless and trade like 9-11 weeks, if your still in the game and breath and eat forex (or other preferred commodity) trading every single day. You will become very successful.
Talk only about trading everyday (just not your wife *wink*, with whoever you meet).
Technically, you have to go to sleep and plan that next trade during your sleep. If your this type of trader, you'll make it!!
The more you obsess about losing money the more you will lose , I can promise you that. Losing money is apart of trading that the worlds best have to deal with. I've been trading for years and do it as a full time living and forex is my sole income but I still have losing streaks - look at my may 2014! Still - 50% up in 12 months.
You actually need to accept that losses will be part of the process - the actually need to accept that and not care when you get a loss and keep trading like it never happened and keep building that long term curve
HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions
Member Since May 20, 2011
724 posts
Jan 15, 2016 at 09:32
BenNathanFX posted:I never said be obsessed about losing money, depending what strategy you use, SL's are part yes.HalleyFX posted:FXtrader2010 posted:dianajs posted:of course it is, look at all the forums with people posting, after the fact.FXtrader2010 posted:
How to increase trading skills: practice not loosing money. That is all you have to to do.
That is often easier said than done. That said, I agree.
who said trading is easy?
He's 100% right!!!!!!
Rule #1 Don't lose money
Rule #2 See rule #1
Rule #3 Become obsessed not losing money!
My tip, open a live account, do like maximum of like 1k. That's fun money nonetheless and trade like 9-11 weeks, if your still in the game and breath and eat forex (or other preferred commodity) trading every single day. You will become very successful.
Talk only about trading everyday (just not your wife *wink*, with whoever you meet).
Technically, you have to go to sleep and plan that next trade during your sleep. If your this type of trader, you'll make it!!
The more you obsess about losing money the more you will lose , I can promise you that. Losing money is apart of trading that the worlds best have to deal with. I've been trading for years and do it as a full time living and forex is my sole income but I still have losing streaks - look at my may 2014! Still - 50% up in 12 months.
You actually need to accept that losses will be part of the process - the actually need to accept that and not care when you get a loss and keep trading like it never happened and keep building that long term curve
I said just don't lose. Meaning, do research and work to understand the market and your own system. Don't listen to gurus on myfxbook and other forex related nonsense. One person can be happy with 50% , one can be happy with 20% a year.
forex_trader_249603
Member Since May 13, 2015
83 posts
Jan 15, 2016 at 15:36
What I mean, with be obsessed not losing money is why most aspiring traders fail, is jumping out to quickly out of winning trades. And letting losing trades run in the hope that it turns around. So be obsessed not losing money!! If it is a losing trade than it is a losing trade, than it is a lost, close it and not needed to lose money.
I used to work for an investment bank, and in 2014 when a person had lost x of %'s of the equity or took to much risk. That person would need to bring coffee around for 1-3 months.
I used to work for an investment bank, and in 2014 when a person had lost x of %'s of the equity or took to much risk. That person would need to bring coffee around for 1-3 months.
Member Since Dec 11, 2015
1487 posts
Jan 18, 2016 at 12:18
True. Learning when to cut your losses and get out of a losing trade is about one of the most important lessons for a trader. Unfortunately it's really difficult to ascertain when doing so is being prudent and when you're doing it out of paranoia that you'll lose money.
Member Since Sep 12, 2015
1948 posts
Jan 18, 2016 at 12:54
HalleyFX posted:
What I mean, with be obsessed not losing money is why most aspiring traders fail, is jumping out to quickly out of winning trades. And letting losing trades run in the hope that it turns around. So be obsessed not losing money!! If it is a losing trade than it is a losing trade, than it is a lost, close it and not needed to lose money.
I used to work for an investment bank, and in 2014 when a person had lost x of %'s of the equity or took to much risk. That person would need to bring coffee around for 1-3 months.
Yeah or get your card de-activated while your out to lunch,lol.
"They mistook leverage with genius".
Member Since Aug 17, 2021
94 posts
Oct 30, 2021 at 12:58
Top 10 Ways to Quickly Improve Your Trading Skills:
1: Start a trading journal.
2: Get Help.
3: Practice.
4: Purchase Trading Software.
5: Study the Big Names.
6: Take Only Risks You Can Afford.
7: Create Standards for Trading Activities.
8: Learn the Difference between Rumors and Data.
1: Start a trading journal.
2: Get Help.
3: Practice.
4: Purchase Trading Software.
5: Study the Big Names.
6: Take Only Risks You Can Afford.
7: Create Standards for Trading Activities.
8: Learn the Difference between Rumors and Data.
Member Since Jul 23, 2020
869 posts
Nov 06, 2021 at 15:28
Practice in the demo account as much as possible to improve your skill. That’s my idea.
Member Since Mar 17, 2021
536 posts
Nov 06, 2021 at 17:31
Akasuki posted:Yes. That is a very good suggestion.
Write down all your entries. Do not open any trade if can't explain to yourself why you want to open that trade. Write down the mistakes you did and find a way not to do same mistake again.
Member Since Jan 13, 2021
52 posts
Nov 08, 2021 at 16:27
rockiee posted:Keep learning
hey , guys
how do you increase trading skills.
Nov 15, 2021 at 08:05
The only way to hone your trading skills is through practice. There is a huge difference between knowing something and being able to implement it. Only with continuous practice, a trader can find out his trading behaviour, what works for him, what needs to be fixed and what not.
Nov 16, 2021 at 06:53
There are no particular techniques for improving skills, because every trader does itaccording to his abilities and opportunities. Traditional way to upgrade skills is to practice actually. Moreover, we shouldn't forget about learning theory, because it also matters in this case. The combination of learning and practicing can ensure your fruther success in particular activity, and everything is the same with trading activity.
You have to understand that everything comes with practicing, experience, skills and knowledge. If you want to be the master of trading, you should dedicate lots of time to it.
You have to understand that everything comes with practicing, experience, skills and knowledge. If you want to be the master of trading, you should dedicate lots of time to it.
Member Since Aug 19, 2022
44 posts
Dec 08, 2022 at 13:46
The best way to learn is to follow the trades of professionals, for example Marcellus puts his results in the telegram channel.
Make money with people who know how to make money.
Member Since Jul 03, 2022
1 posts
Dec 12, 2022 at 05:54
rockiee posted:Hello.
hey , guys
how do you increase trading skills.
Just sharing my journey in forex.
1. Find paid mentor to teach you. Make sure the mentor is using fundamental and technical analysis.
2. Follow the process.
3. Backtest.
4. Frontest.
5. Journaling.
6. Evaluation
7. Repeat.
