Forex trading is for expert people
Oct 25, 2020 at 12:59
Forex trading is for expert people. It requires specific knowledge and skills. Without learning that you can not have consistent profit in forex trading. An expert trader knows when to open or close a position and how to manage risk. He also chooses his broker wisely.
Mitglied seit Jul 19, 2020
318 Posts
Oct 25, 2020 at 19:30
Yes. You are right. Without proper knowledge, you can not survive in this risky and volatile market.
Mitglied seit Sep 12, 2017
238 Posts
Oct 26, 2020 at 02:31
I believe one becomes expert with time and learn from the mistakes. Until and unless one does not know the reality he/she can never become an expert.
Mitglied seit Oct 09, 2020
28 Posts
Nov 05, 2020 at 11:31
Forex trading is for anyone who has the passion to learn.
Nov 06, 2020 at 12:52
Yes without being skilled it's not possible to make money here. It's very normal to lose many initially. A new trader should remember that it takes time to learn. There is no short cut for success in trading. They need passion for learning.
Mitglied seit Mar 16, 2020
54 Posts
Nov 17, 2020 at 10:01
I think anyone can be an expert in forex with knowledge, practice and skills
Mitglied seit Dec 16, 2020
2 Posts
Dec 17, 2020 at 02:35
Anyone can learn and be consistent in Forex trading or any type of trading at all. It does not require specific skills or some type of 'Special Knowledge'. All it requires is Top-Notch risk management (risking a maximum of 1% of your account CONSISTENTLY) and the RIGHT trading mentality (not giving into the urge of 'ahh I lost $200 I'm just gonna make it breakeven and I'm out' novice mentality etc...). These kind of mentality is what turns into revenge trading and will blow your account. And I feel the best way to improve mentality is to learn from other successful individuals by reading their works on psychology and so on. If you can nail your risk management and mentality, consistency in your trading is just around the corner.
Mitglied seit Dec 16, 2020
2 Posts
Dec 17, 2020 at 02:48
But if I'm really honest, Its really not for most people. Being successful as a trader will require you to position yourself part of the 5% of the whole world (the 5% are traders who can do it consistently in this industry, not just a few months or years trading 'high risk') and being part of the 5% of the world just isn't easy as you will need to change yourself completely before anyone can achieve anything significant. I myself am also just starting to experience these significant changes in my routine and keeping a Personal Goal of only losing a max of 4% Drawdown in my capital and achieve 4% monthly, 50% yearly. I hope this helps anyone who came across this.
Mitglied seit Sep 12, 2017
238 Posts
Dec 17, 2020 at 06:07
how do one becomes an expert?no one is expert by birth.he/she learns the skills and then become the expert.
Dec 17, 2020 at 06:53
Forex trading requires great trading psychology. It has been said that trading is 90% psychological. Individuals battle in forex trading since they overlook the significance of psychology in trading. Even a good strategy fails because of trading psychology. You have to get control over your mind if you want to be successful in forex trading.
Mitglied seit Oct 23, 2020
27 Posts
Dec 17, 2020 at 10:51
It does require specific skills and knowledge but if someone is determined enough to keep learning and get better at it, it might work well for them.
Mitglied seit Oct 30, 2020
21 Posts
Dec 18, 2020 at 07:23
UweMoench posted:
Forex trading is for expert people. It requires specific knowledge and skills. Without learning that you can not have consistent profit in forex trading. An expert trader knows when to open or close a position and how to manage risk. He also chooses his broker wisely.
https://funds-money.com/top-10-forex-indicators/
Mitglied seit Feb 07, 2020
5 Posts
Dec 18, 2020 at 10:33
Successful Forex trading requires a lot of effort and time. This is a profession in which you need to devote a lot of time to your development.
