UweMoench posted: The biggest mistake people make is they think trading doesn't require skills. It happens when we treat trading just like gambling. But the truth is to make consistent profit you need knowledge and skills.
100% have come to learn this, when i started out i did not understand what i was doing or how it all worked. after blowing accounts and making mistakes i learnt to get some education and learning, starting out with a basic strategy but the biggest thig was risk management only ever risking 1% and managing my losses and learning that over time will it take for my account to increase the goal now is all % based rather then $ as this makes your gains a lot clearer
If you’re just started off mistakes are bound to be made, my first mistake was looking to trade too many different currency pairs. After that I focussed on one until I was ready to start looking at others.
Jim_B posted: If you’re just started off mistakes are bound to be made, my first mistake was looking to trade too many different currency pairs. After that I focussed on one until I was ready to start looking at others.
Making Mistake is a common thing in the forex market. You have to make your mistakes as your learning thing in this market to become successful.
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.