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There are three things

Rassellkarl
Jan 15 at 13:17
posts 36
Lycineandrew posted:
Rassellkarl posted:
Fx_howie posted:
Trading plan, consistency and knowledge. These three things are important for me in trading.

Absolutely we should think about what we are doing before entering the markets. It is the reason that differentiates successful traders from failed traders. Wisdom says half knowledge is always dangerous because we think that we know more than other traders.

There are many resources through which one can learn about forex trading. If we don’t gain knowledge then no matter if it is demo trading or live, we will fail for sure.

There is also one more method: we can learn from the experiences of other traders. When I was trading very technically and was in the markets all the time, I was not able to value the human interaction. Later I read the forums and experiences of other traders which helped me to understand where I was wrong. Ultimately that’s what even brought my understanding of using low spread brokers and I opened accounts with pepperstone and fxview.

LyudmilLukanov
Jan 15 at 17:28
posts 547
Dictiony posted:
It is not possible to trade successfully without the help of education and study. You can never be a good trader if you lack knowledge and skills. So always learn the basics of forex before investing money.

It’s true. Traders also need hard work for making consistent profit in trading.

Jim_B
Jan 15 at 18:46
posts 20
Yea I think a lot of people make the mistake of not doing this enough.

Lycineandrew
Jan 16 at 09:47
posts 37
Rassellkarl posted:
Lycineandrew posted:
Rassellkarl posted:
Fx_howie posted:
Trading plan, consistency and knowledge. These three things are important for me in trading.

Absolutely we should think about what we are doing before entering the markets. It is the reason that differentiates successful traders from failed traders. Wisdom says half knowledge is always dangerous because we think that we know more than other traders.

There are many resources through which one can learn about forex trading. If we don’t gain knowledge then no matter if it is demo trading or live, we will fail for sure.

There is also one more method: we can learn from the experiences of other traders. When I was trading very technically and was in the markets all the time, I was not able to value the human interaction. Later I read the forums and experiences of other traders which helped me to understand where I was wrong. Ultimately that’s what even brought my understanding of using low spread brokers and I opened accounts with pepperstone and fxview.

People enter the markets with a huge expectation of becoming overnight success. They forget there are years and years of hard work behind the success of successful traders.

Russel Gutierrez (russellgutierrez)
Jan 18 at 04:36
posts 56
When I entered the markets I had no idea what is ribbon chart or what are the signal indicators even. I think it is very embarrassing to say that when I opened MT4 trader through my first broker I was just staring at the screen thinking what is going on. Then I thought this might be the fault of the broker and interface is too complex and hopped to XTB but the same issues I faced there which brought me to the realisation that I don't even have the knowledge of market fundamentals. Thankfully I’m in a much better place financially today.

KnowFinance
Jan 20 at 05:19
posts 80
According to me, a trading plan, consistency and patience are the three things essential to become a trader.

Sar John (Sarjohn)
Jan 20 at 11:39
posts 187
Yes I order to make regular profit and become a successful trader you need to develop a strong strategy, and you can only develop a strong strategy by studying and regular practice.

SofieAndreasen
Jan 20 at 17:48
posts 571
Lycineandrew posted:
Rassellkarl posted:
Fx_howie posted:
Trading plan, consistency and knowledge. These three things are important for me in trading.

Absolutely we should think about what we are doing before entering the markets. It is the reason that differentiates successful traders from failed traders. Wisdom says half knowledge is always dangerous because we think that we know more than other traders.

There are many resources through which one can learn about forex trading. If we don’t gain knowledge then no matter if it is demo trading or live, we will fail for sure.

True. Learn the basic knowledge of trading and then practice in demo account.

AliaDare
Jan 21 at 01:57
posts 593
LeviSievwright5 posted:
It is not possible to gain profit consistently without acquiring a trading education. A trader must first acquire trading education. Then you have to apply that education and practice a lot.

Yes, you are right, trading education is very important. It is never possible to make a trading profit without proper knowledge.

forextrader777
Jan 22 at 12:18
posts 84
It’s completely right that you have to study a lot for a perfect trading strategy. You can develop this skill set with the help of demo accounts. You can start with demo trading and can apply and test your strategies there.


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