Key points to make you a profitable trader

Jul 05, 2023 at 08:35
371 Views
6 Replies
forex_trader_3332733
Member Since Jun 26, 2023   43 posts
Jul 05, 2023 at 08:35
In order to avoid losing money in foreign exchange, do your homework and look for a reputable broker.

Use a practice account before you go live and be sure to keep analysis techniques to a minimum in order for them to be effective.

It's important to use proper money management techniques and to start small when you go live.

Control the amount of leverage and keep a trading journal.

Be sure to understand the tax implications and treat your trading as a business.
Member Since Oct 18, 2021   93 posts
Jul 05, 2023 at 09:25
The more practice, the more chances to become profitable. So practice, practice and more practice. This`s what I do all the time now.
forex_trader_3332733
Member Since Jun 26, 2023   43 posts
Jul 05, 2023 at 09:38
But practice without sticking to the rules is useless
Member Since May 10, 2023   44 posts
Jul 05, 2023 at 14:31
If you want to be a profitable trader, then you must give yourself completely to this business. Just like any other business. If you're serious, then you'll make money.
Member Since Sep 02, 2022   56 posts
Jul 07, 2023 at 10:40
Agree. It is necessary to draw up a solid and reliable business plan to promote a trading strategy and practice. Calculate all risks and simulate critical situations on a demo account. That's the key to success.
Member Since Jun 19, 2023   11 posts
Jul 18, 2023 at 12:44
The suggestions provided offer practical and important considerations to avoid potential losses in foreign exchange trading
Member Since Aug 19, 2022   71 posts
Jul 18, 2023 at 18:25
I wonder what homework looks like for a trader. Who took paid training in trade?
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