Trading is not a game that you have to take challenge to do something within specific time. If it happens naturally that's very good. Trading is all about skills and knowledge. You can't overshadow your knowledge and skills by taking extra risk. Be rational and trade according to your capabilities.
Quange posted: In the forex market and in reality, they agree quite easy, it requires effort and maximum concentration, therefore, before you go to this market, you can think very well and evaluate your capabilities.
Absolutely! It won’t be easy to trade and make profits when a trader has no idea about what is going on. Discipline and focus are very important.
When you work in the direction of your goals, things might seem easy. But you will still have to keep a check on what you are doing to ensure that there are no distractions that can become obstacles in your way.
Yes, I agree. As I trade with different brokers at a time (mainly fxview and schwab), I try my best to stick to my strategies to trade and exit as I have planned. At the same time I leave space for little modification (which is an art I have perfected somewhat now) in my plan as per market behaviour.
the best thing for beginners is to be able to test their ideas back in time through backtests, so you need to create a software that automates your idea and see if throwing it back in time is valid. To do this, today it is very simple because there are builders more or less easy to use that allow you to create your own software by yourself. For example, I use the tradeboot platform, but there are also other types of strategyquant or molanis. Since I switched to automatic trading I have started to earn, before with manual trading I was always at a loss.
Nothing is easy in forex trading. You have to trade consistently and learn from these trades so that you can get the clear ideas and have better strategies to trade further. Try to remain updated with the news about forex. I found that keeping us updated with the news helps us to make better decisions.
You don't need to be correct 100% of the time.If you are correct 50% of the time and have 1:2 risk reward ratio, you will make money here. Problem is we want to be 100% correct and do not want to follow any discipline.
blackChelsea posted: Nothing is easy in forex trading. You have to trade consistently and learn from these trades so that you can get the clear ideas and have better strategies to trade further. Try to remain updated with the news about forex. I found that keeping us updated with the news helps us to make better decisions.
True. Market is changing consistently. So, learn and practice even if you are a experience trader.
If you are making bad deals, you should take your time to realise what you are doing wrong. The best way to figure out how to improve your trading is demo. Go back to it and make improvements to your trading strategy or improve your trading skills. It is better to lose on demo than on real 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.
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