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5 Things I have learned in 5 years of trading!
Member Since Aug 05, 2021
394 posts
Feb 02, 2022 at 14:48
Member Since Aug 05, 2021
394 posts
windpower posted:
Most important thing I have learned is that a demo account is the most valuable asset that you can invest in (and it is free!)
Agree with you there! I've seen so many posts where beginners are eager to skip demo trading and never understand why you'd opt out when it's free and the best hands on tool for traders to use.
Member Since Mar 01, 2018
39 posts
Feb 02, 2022 at 15:41
Member Since Mar 01, 2018
39 posts
5 Things every trader should know, I believe.
Profitable trading is all about math, not hope. Calculations like:
1- Risk/reward ratios
2- Position sizing
3- Win%
4- Stop losses
5- Profit targets
It’s all math & no magic.
If you personalize losses, you can't trade.
Profitable trading is all about math, not hope. Calculations like:
1- Risk/reward ratios
2- Position sizing
3- Win%
4- Stop losses
5- Profit targets
It’s all math & no magic.
If you personalize losses, you can't trade.
Have your trading charts ready!
Feb 20, 2022 at 12:46
Member Since Oct 20, 2018
283 posts
zzzTraders posted:
5 Things every trader should know, I believe.
Profitable trading is all about math, not hope. Calculations like:
1- Risk/reward ratios
2- Position sizing
3- Win%
4- Stop losses
5- Profit targets
It’s all math & no magic.
If you personalize losses, you can't trade.
Absolute truth.
momchil_slavov@
Member Since Apr 09, 2019
516 posts
Feb 25, 2022 at 09:07
Member Since Feb 15, 2022
210 posts
croisssan posted:
To be honest, I learned a lot on the demo account. But after that I learned many more things that I always use in the process of work. As for me, the main thing is not to borrow for trading.
That’s true, I see a number of new traders try to gather huge amount of capital to trade in live account! Although, their trading skill isn’t up to the mark! Forex is a risky business where more than 90% traders are losers! So, don’t try to make quick money here!
Member Since Feb 16, 2022
113 posts
Mar 02, 2022 at 06:57
Member Since Feb 16, 2022
113 posts
sebking1986 posted:
1) A broker is not that important. 90% of them are fine so use whatever one you are comfortable with.
2) Social media “gurus” often don’t actually trade themselves and make their money conning the vast majority of people coming into trading looking for quick cash – don’t get caught out!
3) Nobody can give you a ready-made strategy and then send you off to start making money, A strategy is something personal to you in terms of time, risk tolerance, psychology, speed of the market etc. Take bits from different sources and then take the time to formulate and test your own strategy that fits your own parameters. There is no “one-size fits all” in trading.
4) Trading of any type is NOT A GET RICH QUICK SCHEME! It takes time for the above reasons to first learn the basics and then formulate a strategy, test it thoroughly and implement it.
5) Set achievable goals – when you first start break even at the end of the month might be a great target for you and that is fine. Not losing long term is priority number one to protect your capital. Don’t compare your 1000hrs of practice to another person’s 10,000hrs. Be better than you were 6 months ago and focus on that.
What else have you all learned in your time trading?
Nice to see your progress! But I believe, Learning is a continues process! Traders need to focus on mainly technical & fundamental analysis; having a good trading skill is the main concern here! Without a good trading skill no one can exist here!
Member Since Feb 16, 2022
113 posts
Mar 02, 2022 at 11:14
Member Since Feb 16, 2022
113 posts
5 year trading journey is not a small journey and this time passes through several ups and downs. During this period, a person learns how to go ahead in Forex and get the merit of developing a strategy. Personally, I prefer moving average strategy.
Member Since Jul 20, 2020
385 posts
Mar 25, 2022 at 08:22
Member Since Jul 20, 2020
385 posts
LabuyaChicay posted:
5 year trading journey is not a small journey and this time passes through several ups and downs. During this period, a person learns how to go ahead in Forex and get the merit of developing a strategy. Personally, I prefer moving average strategy.
Thats the key though there are so many ways to skin a cat and i think persistance and perseverance are the actual qualities you need to be successful in this industry
Mar 28, 2022 at 04:58
Member Since Aug 21, 2021
60 posts
sebking1986 posted:
1) A broker is not that important. 90% of them are fine so use whatever one you are comfortable with.
2) Social media “gurus” often don’t actually trade themselves and make their money conning the vast majority of people coming into trading looking for quick cash – don’t get caught out!
3) Nobody can give you a ready-made strategy and then send you off to start making money, A strategy is something personal to you in terms of time, risk tolerance, psychology, speed of the market etc. Take bits from different sources and then take the time to formulate and test your own strategy that fits your own parameters. There is no “one-size fits all” in trading.
4) Trading of any type is NOT A GET RICH QUICK SCHEME! It takes time for the above reasons to first learn the basics and then formulate a strategy, test it thoroughly and implement it.
5) Set achievable goals – when you first start break even at the end of the month might be a great target for you and that is fine. Not losing long term is priority number one to protect your capital. Don’t compare your 1000hrs of practice to another person’s 10,000hrs. Be better than you were 6 months ago and focus on that.
What else have you all learned in your time trading?
Good to see this, I learnt to keep a control on my emotions.
Member Since Feb 16, 2022
113 posts
Mar 29, 2022 at 06:08
Member Since Feb 16, 2022
113 posts
Forex trading doesn’t only require trading skill rather it also requires some good human qualities like patience, perseverance and determination. When both are combined, trading success becomes easier for a trader. So, traders should devote to achieving success as early as possible.
Member Since Jul 20, 2020
385 posts
Mar 31, 2022 at 18:40
Member Since Jul 20, 2020
385 posts
forextrader777 posted:LabuyaChicay posted:
Forex trading doesn’t only require trading skill rather it also requires some good human qualities like patience, perseverance and determination. When both are combined, trading success becomes easier for a trader. So, traders should devote to achieving success as early as possible.
Patience, Perseverance and Determination - strongly agree on these buddy!
These are actually the most valuable skills in all of forex!
Mar 31, 2022 at 20:46
Member Since Oct 20, 2018
283 posts
LabuyaChicay posted:sebking1986 posted:
1) A broker is not that important. 90% of them are fine so use whatever one you are comfortable with.
2) Social media “gurus” often don’t actually trade themselves and make their money conning the vast majority of people coming into trading looking for quick cash – don’t get caught out!
3) Nobody can give you a ready-made strategy and then send you off to start making money, A strategy is something personal to you in terms of time, risk tolerance, psychology, speed of the market etc. Take bits from different sources and then take the time to formulate and test your own strategy that fits your own parameters. There is no “one-size fits all” in trading.
4) Trading of any type is NOT A GET RICH QUICK SCHEME! It takes time for the above reasons to first learn the basics and then formulate a strategy, test it thoroughly and implement it.
5) Set achievable goals – when you first start break even at the end of the month might be a great target for you and that is fine. Not losing long term is priority number one to protect your capital. Don’t compare your 1000hrs of practice to another person’s 10,000hrs. Be better than you were 6 months ago and focus on that.
What else have you all learned in your time trading?
Nice to see your progress! But I believe, Learning is a continues process! Traders need to focus on mainly technical & fundamental analysis; having a good trading skill is the main concern here! Without a good trading skill no one can exist here!
Absolutely right. I can only add the tech to fundamental must be like a Pareto law - 80:20 in advance to technical.
momchil_slavov@
Member Since Aug 10, 2021
172 posts
Member Since Aug 05, 2021
394 posts
Apr 04, 2022 at 16:30
Member Since Aug 05, 2021
394 posts
skihav posted:
I can say even more - I learned a lot more than just 5 things. To work in this niche, you need to learn a lot more.
I agree that there is a lot of information to learn and many of us will probably continue learning 5+ years into trading, but also thought this list did a good job of covering some of the most important information that many beginners may not know or others may learn the hard way.
Member Since Jul 20, 2020
385 posts
Apr 10, 2022 at 14:26
Member Since Jul 20, 2020
385 posts
HeavLeighGill26 posted:skihav posted:
I can say even more - I learned a lot more than just 5 things. To work in this niche, you need to learn a lot more.
I agree that there is a lot of information to learn and many of us will probably continue learning 5+ years into trading, but also thought this list did a good job of covering some of the most important information that many beginners may not know or others may learn the hard way.
I agree, it actually put a lot of things in order for me and gave me some clarity. Some posts just really put things into perspective
Member Since Aug 10, 2021
172 posts
Member Since Apr 04, 2022
2 posts
Apr 11, 2022 at 10:07
Member Since Apr 04, 2022
2 posts
sebking1986 posted:
1) A broker is not that important. 90% of them are fine so use whatever one you are comfortable with.
2) Social media “gurus” often don’t actually trade themselves and make their money conning the vast majority of people coming into trading looking for quick cash – don’t get caught out!
3) Nobody can give you a ready-made strategy and then send you off to start making money, A strategy is something personal to you in terms of time, risk tolerance, psychology, speed of the market etc. Take bits from different sources and then take the time to formulate and test your own strategy that fits your own parameters. There is no “one-size fits all” in trading.
4) Trading of any type is NOT A GET RICH QUICK SCHEME! It takes time for the above reasons to first learn the basics and then formulate a strategy, test it thoroughly and implement it.
5) Set achievable goals – when you first start break even at the end of the month might be a great target for you and that is fine. Not losing long term is priority number one to protect your capital. Don’t compare your 1000hrs of practice to another person’s 10,000hrs. Be better than you were 6 months ago and focus on that.
What else have you all learned in your time trading?
Great post! Thanks for the provided useful information. I'll share what I learned myself in several years of trading:
1. Never give up - there will be ups and downs, and you can’t run away from this fact. Always remember why you started and never give up on your goal
2. Price is the king - Price is the only thing that shows a real indication of the market
3. Manage the Risk - Managing the risk will keep you in this business. Never become greedy and try to avoid risking more than you can afford to lose.
4. Trading plan is your daily guide to trading success
5. Discipline is everything

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