It is easy to start trading It is harder to start earning It is hard to keep earning and don't get greedy It is very difficult to stay profitable and consistent for years. I know what I am talking about :)
Stock_Cycles11 posted: I admit, I'm one of those people who have a good day, and then get out the calculator and start adding up how much you'll make in 6 months if it keeps going good like that.
Some years ago, I made $530 scalping eurusd using bollinger bands on short term charts. After the day was done, I couldn't wait till tomorrow. Guess what. The BB strategy did not work, and I lost $500 the next day. I did make $30 over 2 days though. LOL
That strategy was profitable because you made a profit in 2 days. If you had continued the method you might have made an overall profit of approximately $30 every 2 days.
I agree that there is no shortcut to the success to many famous people. They worked hard to get where they wanted to be. And yes, you are right about new trader jumping into trading without learning the basic first. It is like skipping your high school and jumping to university directly. Unrealistic and impossiblle.
fancydandy posted: I agree that there is no shortcut to the success to many famous people. They worked hard to get where they wanted to be. And yes, you are right about new trader jumping into trading without learning the basic first. It is like skipping your high school and jumping to university directly. Unrealistic and impossiblle.
True; I have also noticed a number of new traders are with their unrealistic target! But the reality is so tough; only 5-8% traders are successful in this arena!
Yeah that’s right! Very few people are actually successful in making consistent profits because they put in a lot of hard work, others lack somewhere due to which they are unable to make consistent profits.
45656 posted: Without acquiring general trading knowledge in Forex market place you will never be able to earn good money. In fact you will lose very early in your trading career because in Forex trading there is no short cut way to earn money and to become rich in overnight. Most of the new traders feel they can be rich by investing money in Forex market but not interested to learn first.
Topic: There is no shortcut way. TRUE: You must pay for education, whether formal (university or tuitions) or informal (life experience). FALSE: Education is not as expensive as ignorance.
Roberto21 posted: quit from trading is very common issue in this stock , and come back again after quit. actually its all about motivation. when making a big losses , there is no interest about trading , but when realize the mistake then we kick off trading again. its a common reality.
Trading becomes habit after some time
i agree, and the day you decide to stick back and test, is when you see most opportunities of making money😁
Use a practice account before you go live and be sure to keep analysis techniques to a minimum in order for them to be effective and Once a trader has done their homework, spent time with a practice account, and has a trading plan in place, it may be time to go live
Revenue is vanity, profit is sanity, but cash is king
When I joined this market place I took it as a casino and tried to make money very quickly . as a result fallen a great loss due to lack of exact trading knowledge , it would be great if we take this market place as professional things. Otherwise we will be loser.
You are telling the truth really, nobody is listening to that unfortunately and people still loosing money entirely and absolutely - when this will stop, I am really not that sure probably. So how else we could do it clearly - I am not sure.
The problem with this advie is that when most people join forex they never know exactly what it is all about. Tey caome in expecting to make a lot of money from it. You can identify with me that in the forex ads. The people in them always win. Not once do they lose. Even if they lose then they do not look alarmed. A person who has never been in forex might get the wrong idea. They think it is a very fast way to get money and they are wrong.
Some people only get to learn this the hard way. Even after some people are warnd about he dangers of taking shortcusts in forex they still do. Every year lots and losts of people fail i forex. Some even go broke because they did not takr their time to learn. A serious forex trader will not be worried about the time it takes to learn about forex but dedicate their time to it.
I have realised that some of the people that join forex are usually in need of money and think that forex tradng is a fast way to get money. Some of them even put in their savings to forex. Some guy recently went broke because he put all his money into forex and lost it all. This despreation is what drives pople into making ver poor decisions when they join fore and it really costs them. My advice to the new traders is that they should take things slow in forex.
In forex, knowledge is power. You cannot just rush into trading when you lack all the relevant knowledge. A lot of people that fail forex are usually not willing to learn. They want the easy way out and earn as muchbas they can in a short time which is usually a bad Idea because it never works. The result is just a lof of losses that could have easily been avoided.
There is no short cut in Forex for to succeed in this online business. You need immense amount of knowledge about and if you have lack of knowledge then it will be difficult to survive in Forex. So always work hard and do some practice and get experience to become a succesful trader.
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El efecto de apalancamiento crea un riesgo adicional y una exposición a las pérdidas. Antes de decidirse a operar con divisas, considere cuidadosamente sus objetivos de inversión, su nivel de experiencia y su tolerancia al riesgo.
Podría perder una parte o la totalidad de su inversión inicial. No invierta dinero que no puede permitirse perder. Infórmese sobre los riesgos asociados al trading de divisas y pida consejo a un asesor financiero o fiscal independiente si tiene alguna duda.
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