for newcomers live account can be a dangerous decision,
because they cant control emotions when trading.
because they cant control emotions when trading.
the result of any kind trading strategy depends on your money management, if not there is no real chance to bring good result by using any good strategy.
Jan 24 2020 at 13:51
You can get good results with good strategy even if bad money management but not the other way round
Without good money management you will be doomed to failure
This resource contains a lot of useful information, but not everyone can use it correctly.
Treeny posted:
Without good money management you will be doomed to failure
Exactly many traders tend to neglect the significance of money management which results in a total wipeout of their trading account sooner or later.
Mohammadi posted:
for newcomers live account can be a dangerous decision,
because they cant control emotions when trading.
Yeah that's the most challenging thing for them. And if someone is able to control his emotions at an early stage, then he must not worry about his future as a trader.
You can make a lot money from Forex market. But you have to follow some basic rules. If you want to make money in a quick time, Forex market will not for you. In forex market, the main thing that a trader need to have is patience. The more you wait, the more it is possible to make money. Quick trade can put you in loss. This is a long term investment. I am trading with Tpglobalfx from last 2 years. with the help of them I learned that there is no scope to be quick. patience is the main key factor to make profit from the forex market.
Treeny posted:
Without good money management you will be doomed to failure
That's right and even risk management is essential
Mar 30 2020 at 07:42
Mohammadi posted:
for newcomers live account can be a dangerous decision,
because they cant control emotions when trading.
Exactly. That's why it is suggested to start with a demo account. But many don't believe it!
Nov 11 2020 at 19:15
New traders should be very careful about his trading. They should gather all knowledge about the trading before entering into this risky market.
Dec 25 2020 at 12:21
A rookie should practice on a demo account to improve his skills and enlarge his knowledge of forex.
There is no doubt that forex is exceptionally productive business. But to be productive, you have to learn the craft of forex trading. By studying and rehearsing you can do this. For study, you need great educational resources and personal help.
The most difficult stage on forex is the rookie stage because it is in this stage that most people really mess up with their accounts and lose it all. You need to take the right approach if you want to make it in forex. Always think about the consequence of an action before you take it. Do not do what you are unsure of.
If you want to create a bright future by trading Forex, you have to trade with long time targets. If you earn 10-15% per month, you should be happy with it. If a trader patiently follows money management and risk management, his trading future will be much better. So in trading, you have to survive by giving up emotions with patience.
Novices should focus on the learning phase since that is what lays the foundation of a good trader.
Dec 31 2020 at 15:17
A full plans of trading is needed for successful trading. A trader should cleanly knows what he is doing. Most traders do not have idea what they are doing. Out of hope they open trades.
Developing a strategy for yourself won’t be easy if you lack knowledge and practice. I suggest creating your demo account with a broker so that you can get an idea about how your strategy is doing.
practice is important and for that demo is a good choice , but i dont like this, i always try to maintain live account with minor balance . its supportive to acquire live knowledge and experience.
