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How to trade effectively in forex?

Fearlesswalker (Fearlesswalker)
Jan 12 at 09:18
28 Posts
Effective trading implies the fact that you earn money due to traing, that's why it's called effective. I believe that the only option for you is to learn and practice. These twon things are the most important for a trader and there are no other options actually. Effective trading can be reached only due to the experience and knowledge. To my mind, you can reach these things only due to practicing. Some traders can practice without any kind of learning theory, however it depends on the trader. If you're skilled enough in trading and have some theoretical base, then practicing will be enough for you.

Jan 12 at 15:50
939 Posts
I advise you to test various approaches, tools and strategies in practice - using a demo account.

Jan 14 at 07:10
34 Posts
There is no such strategy which you can use to avoid losses. Imagine if there would be one such strategy, why so many traders would have been failing so many times. Don’t waste your time on searching for a holy grail strategy. Focus on the ways you can use to minimise losses.This is the only effective way to trade.

Jan 14 at 10:16
34 Posts
Losses can only be avoided with proper risk and money management skills.

Jan 14 at 13:24
801 Posts
A good option is to work out strategies for working on a demo account. As for me, this is the most correct approach to achieve success.

Jan 15 at 12:23
567 Posts
TraderIvana posted:
Losses can only be avoided with proper risk and money management skills.

Yes. I agree with you.

Jan 21 at 18:22
18 Posts
There are no particular rules in trading effectively. The main idea of trading is to have an ability to analyze and foresee the future price movement. Actually, everything on the market is concluded in this ability. In my opinion, effective trading means making profits, so if you want to start making profits then you should learn and practice a lot. You can consider trading as your primary occupation, because if we count the time which you should devote to trading, then it comes to classic working schedule. Of course, here nobody makes you follow this schedult, but discipline matters here as well.

Feb 03 at 14:20
11 Posts
I think that there’s the only one way to trade effectively. It’s to trade everyday. To put that another way, you need to have enough practice. The more you trade the more effectively you do this. That’s a universal principle and it applies to anything. I don’t see any reasons why trading should be an exception.

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