I think it’s easy to get the idea that trading is easy or that you can make money quickly with little effort. We can thank trading gurus and influencers for giving it that imagine. However, many beginners learn quickly that this isn’t the case and I believe that accounts for the large percentage of failed traders out there. Those that do their research and whom don’t think of it as gambling have a higher chance of becoming successful.
@marcusobrien Yes you are right. Revenge trading is a killer. We can't take trading decision out of emotions. Loss is a part of trading. If you lose a trade, wait for the right opportunity to open next trading.
It's really crucial in currency exchange to use a continuous program or simply follow the protocols set up for this program to get the maximum profit. Let's assume that goes on to get the maximum profit available and all at once encourage their results.
There are plenty of forex tups, Actually, every trader points tips by himself according to his trading style and strategy. Some strategies can imply rushing and it's okay, however i's not preferable for novices of course. Beginners should comply with several major and important tips, such as never open a position against the trend, always try to determine the price movement direction, never rush and never play with revenge trading. All of these tips in my opinion are pretty significant and can help new traders to save their money on their initial stages in trading activity.
Gracewilson1995 posted: yes, there is no shortcut to be successful. One has to gain knowledge and practice
So true, it takes such a long time to learn Forex business! There is no shortcut way in there, in addition which traders try to make quick money here without learning, end of the day they are the losers!
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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