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Forex trading is for expert people

Rayson_Tan
Dec 17 2020 at 02:35
2 Beiträge
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.

Rayson_Tan
Dec 17 2020 at 02:48
2 Beiträge
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.

perryjohn765 (perryjohn765)
Dec 17 2020 at 06:07
149 Beiträge
how do one becomes an expert?no one is expert by birth.he/she learns the skills and then become the expert.

Michihito
Dec 17 2020 at 06:53
298 Beiträge
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.

Mate_ (Mate_)
Dec 17 2020 at 10:22
11 Beiträge
I'm sure nothing is impossible. You can become a successful trader. It's all about the effort and the time wasted. And of course, the desire to develop and constantly learn everything new.

turnipfollow
Dec 17 2020 at 10:51
27 Beiträge
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.

steve_25
Dec 17 2020 at 11:22
38 Beiträge
I agree with all here. Expertise is something which comes with time and practice and nothing is impossible if we work on it.

Brel
Dec 18 2020 at 06:21
10 Beiträge
I would say everyone can become experts in forex. It is just about how much efforts you put into it and how you use your knowledge practically into this field. Without hard work and good research, nobody can win here.

rohitchawla455
Dec 18 2020 at 07:23
21 Beiträge
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/

Imran45dtr754 (Imran45dtr754)
Dec 18 2020 at 10:33
5 Beiträge
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.

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