Avoid over-trading, revenge-trading and trading without analyzing the market because it destroys a trader. So, before starting trading journey, there is no alternative to forming trading-friendly qualities. Besides so, a trader must spend some time in market analyses.
Too many beginners are looking to learn quickly and start making a profit, fast. I understand being in a hurry and needing money but trading isn't the solution to get quick cash, it's more of a well-thought out and planned process. You have to be patient and understand that the money may not start flowing for a while.
Practice is essential to get more familiar with trading because learning anything new takes time but do not spend too much time in the learning phase so that till the time you start trading the market introduces new changes and you need to go back to get acquainted with that now.
Yeah I totally agree. If you practise for hours and learn nothing, it’s a waste. Dedicate less time but make sure that you learn well. Forex doesn’t require 15–16 hours of learning and practising. 2-3 hours a day is enough if you are focused well.
There is no fixed number of hours that you have to give in to become a successful trader. It’s like a cricket game. The more you practise, the better you get at it. Hence, if you can keep up with your hard work and put in the work, forex trading will work out really good for you in time.
Take advice from experienced traders about how to develop a trading-genial psychology in a trader. If you own a positive mentality, then any sudden lose won’t depress you, contrarily, negative mentality will team you apart.
Vermilion1 posted: Knowledge and skills are very much needed for becoming a forex trader. And one has to invest time for gaining knowledge and practice well for developing trading skills. The learning period will be different for everyone based on their grasping power. So, one must learn and grow at their own pace.
Your answer is really accurate. Everyone is different and learns differently, so the amount of time definitely depends on that. None will learn in a day and it's more of a long-term goal, but everyone learns at their own pace.
Nice to see your determinations level! In reality, it takes such a long time to learn Forex trading! to be very honest, I opened my 1st live trading account so early; and as a result faced a huge loss there because of my ordinary trading skill; then I started to use cent trading account to learn instead of demo trading!
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UPOZORNĚNÍ NA VYSOKÉ RIZIKO: Obchodování s devizami přináší vysokou úroveň rizika, které nemusí být vhodné pro všechny investory.
Páka vytváří další rizika a ztráty. Než se rozhodnete obchodovat s devizami, důkladně zvažte své investiční cíle, úroveň zkušeností a toleranci vůči riziku.
Můžete přijít o část nebo všechny své počáteční investice. Neinvestujte peníze, které si nemůžete dovolit ztratit. 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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