These are just some thoughts that i wish to share with my fellow traders may they be new or old traders.
In participating in any contest new traders have to first read up and learn about the forex markets to know how to trade this market, you traders do have to understand how this market functions and you have to implement your understanding in firstly DEMO trading, this is the best way to learn.
You traders have to first understand what levels of risk you are willing to take and then develop your own trading methodology which suits your own traits.
I know the forex market is so huge but at the same time it is very vicious to any new trader who may think that it is easy money. My friends following any trader in social networks may not be suitable to you as the trader who is trading has their own set of rules and strategy that they implement in their trading .
My sincere advice from a trader who has learnt it the hard way is first read up and gain enough knowledge about this market and implement your own understanding in demo trading or in demo competitions as well to assess how much of the knowledge you have grasped.
Your trading results will give you a fair indication as to how far you have progressed.
There is a lot of information on the net , but you have to be the judge of what is suitable to you. please refrain from things that indicate to you that you can become a millionaire overnight.
Do not fall for hypes, face realty and learn and trade accordingly.
For the traders who have been in this market for some time, well guys we can all trade our strategies and try and implement new ones in these competitions to see how well those ideas perform.
We can all share our ideas and thoughts, but in the end we can only implement what is comfortable to us.
Each of us have those levels, let us try and gain knowledge from each other and make friends as this market is so huge that no individual is a master of this market.
OK guys enough of my Blabbering and good luck to all participants.
@shehnaz786 Hi sir, I really consider your words and your speech really matters for us.😳 What the people do in contest or i their real account is they just guessing or blindly follow someone with high risk volume. so even their strategy is good at somepoint they are losing money in fx.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.