All the successful traders implement there strategies on the demo or they use a small amount on live trading to implement their strategies. And they are always consistent while doing trading. There is no shortcut other than that.
Totally agree with that. Discipline is very much needed for becoming a successful forex trader. Those who lack discipline always struggle and often find themselves deviating from their strategy and trading plan. So, we must work on becoming disciplined for profitable trading.
Before they enter a transaction, all successful traders determine their profit and loss parameters. They establish their limits and adhere to them. They reduced their losses and mercilessly allowed the gains to continue.
The most important thing that I paid attention to is that most often successful traders devote a lot of time to training, and rightly so. That is the path to success. When I started working with a broker from Amarkets, I also started on a demo account.
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.