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How to trade effectively in forex?

ManUnitedBest
Nov 16 2020 at 11:50
10 Posts
As has been said above to be effective at trading (or anything) you need knowledge. Without that you are just gambling. I am trying to learn (and take my time about it), rather than just jump in and loss all my money on high risk trades

AniLorak
Nov 16 2020 at 12:08
920 Posts
i like to depend on Forex , because its really a royal business than others. generally we the take Forex as money making place  and this greed comes from making profit from demo account. 

Faujinn
Nov 16 2020 at 14:13
57 Posts
You can still make good money at the professional level with the broker Amarkets, which offers RAMM service and good trading conditions

Gergo_01
Nov 17 2020 at 07:53
24 Posts
AniLorak posted:
i like to depend on Forex , because its really a royal business than others. generally we the take Forex as money making place  and this greed comes from making profit from demo account. 

Agreed, demo trading somewhere, does make every trader think that he has become 100% efficient, not knowing that live trading is so much different.

Gareylinn509
Nov 26 2020 at 04:58
34 Posts
When you are knowledgeable, you are already prepared for the typical situations. And when you are overconfident, you miss even the most obvious steps.

Duktilar
Nov 29 2020 at 12:00
112 Posts
Indeed, sometimes overconfidence does not allow us to notice the obvious things.

Bladiminmunro
Dec 02 2020 at 09:13
59 Posts
Duktilar posted:
Indeed, sometimes overconfidence does not allow us to notice the obvious things.

I think every trader should undertake trading psychology courses that are being offered these days. They might help to an extent.

Cizel89
Dec 03 2020 at 11:11
59 Posts
Gareylinn509 posted:
When you are knowledgeable, you are already prepared for the typical situations. And when you are overconfident, you miss even the most obvious steps.

Agreed. That line between confidence and over confidence just makes all the difference.

Beagelv
Dec 03 2020 at 12:28
81 Posts
Only your own strategy and desire to achieve a good result can bring efficiency in trading, so try to develop and direct all your forces to achieve the goal.

Bladiminmunro
Dec 04 2020 at 06:59
59 Posts
Beagelv posted:
Only your own strategy and desire to achieve a good result can bring efficiency in trading, so try to develop and direct all your forces to achieve the goal.

I have what you can call a trading plan, I have my stop loss level in it, the strategy I intend to use and the max I want to go on limb with leverage.

Roberto21
Dec 04 2020 at 07:09
364 Posts
Greed and emotions almost same. Generally beginners attacked by this common human nature. We can control this by proper trading practice as well great discipline.

Gergo_01
Dec 05 2020 at 05:50
24 Posts
I agree with @Roberto21
Beginners, even experienced traders get affected with such issues at times. Practice, hard work and a good trading plan can help us get through this.

GeorgeBischof
Dec 06 2020 at 09:32
318 Posts
Trading is the forex market is not so easy. If you have proper knowledge and basic skills, you can make profit from this market. So, gather knowledge and skills as much as you can.

Bladiminmunro
Dec 07 2020 at 07:31
59 Posts
GeorgeBischof posted:
Trading is the forex market is not so easy. If you have proper knowledge and basic skills, you can make profit from this market. So, gather knowledge and skills as much as you can.

I even feel that trading courses are a must, can give a good perspective on every related aspect.

Daxton
Dec 07 2020 at 11:36
34 Posts
For trading effectively, its very important to have full knowledge about the markets and have a strong and solid strategy to trade well.

LeviSievwright5
Dec 07 2020 at 20:03
298 Posts
Yes, you are right, emotion and greed are the same. It is not possible to make a profit in trading if there is emotion. Similarly, greed completes similar activities.

samir45566
Dec 08 2020 at 09:55
2 Posts
I, too, are on a similar path like all newcomers to trading. But I've already spent a lot of time to figure out what's what. Everything is both simple and complex at the same time. I realized that I need to study a lot and if I want to earn decent money, I need to become an experienced trader.

Bladiminmunro
Dec 09 2020 at 09:19
59 Posts
samir45566 posted:
I, too, are on a similar path like all newcomers to trading. But I've already spent a lot of time to figure out what's what. Everything is both simple and complex at the same time. I realized that I need to study a lot and if I want to earn decent money, I need to become an experienced trader.


There's no doubt that experience in trading brings its own rewards. Initial part of trading journey is mostly composed of losses.

Brick_56
Dec 10 2020 at 06:11
38 Posts
LeviSievwright5 posted:
Yes, you are right, emotion and greed are the same. It is not possible to make a profit in trading if there is emotion. Similarly, greed completes similar activities.

Agreed, both emotions and greed can pull back a trader equally. Working on these is too important in forex.

jasonmark409
Dec 10 2020 at 10:09
29 Posts
Just stay determined and keep learning each day and you will get there. Work on your risk management, strategy, money management, skills and techniques for trading better.

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