Money management in the forex market is the most difficult job. If you can not make it perfectly you have to face a great loss.
Feb 24 2021 at 05:49
josejames posted:I wonder if there is any set time that traders should demo trade for, before going live?!MichaelEX posted:Getting overconfident is another big folly of the new traders.
Greed to become rich overnight and jumping into trading directly without having knowledge and experience is the reason most people fail.
PercymcDonnell54 posted:I dont think there is anything specific in that, but you will need to think about whether you are ready to go live or not, that depends on youjosejames posted:I wonder if there is any set time that traders should demo trade for, before going live?!MichaelEX posted:Getting overconfident is another big folly of the new traders.
Greed to become rich overnight and jumping into trading directly without having knowledge and experience is the reason most people fail.
PercymcDonnell54 posted:I think that’s very subjective. Like I used demo accounts of Robinhood and Fxview for almost 2 months before going live with them. However my friend spent long 6 months with Oanda before beginning live trading.josejames posted:I wonder if there is any set time that traders should demo trade for, before going live?!MichaelEX posted:Getting overconfident is another big folly of the new traders.
Greed to become rich overnight and jumping into trading directly without having knowledge and experience is the reason most people fail.
Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.
UweMoench posted:I agree with you, our trading journey depends on the broker that we choose. A reliable broker ensures good trade execution which are actually filled in the best market rates and also in a timely manner.
Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.
Mar 10 2021 at 05:34
That is right and most people tend to fail due to these very reasons. It is important to not rush into making any trades.
Losing money is very normal in forex trading. It's about how a trader manage his loss. It's not possible to be 100% right all the time. We need good risk reward and winning ratio to do well in trading.
Jun 07 2021 at 05:55
Tremblay posted:I completely agree with you. Money management is the most important thing in every business.
Money management in the forex market is the most difficult job. If you can not make it perfectly you have to face a great loss.
All of us have been in this journey of failure. Its common to all. But only those succeed in the end who do not stop doing the effort. So, the key is to to keep working hard inspite of failures.
If trading were easy, everyone would make money by doing trading. Online trading is designed in a way so that only highly skilled people and institute can make money.
This is a market where there is no place for negligence and uncertainty, you should be prepared as much as possible and understand that this is a fairly serious job that requires maximum effort from you.
Fore market very dynamic, this is full uncertainty, add more your emotion, when trading emotion really involved and make trader being scared greedy, anxiety, etc, without good emotion control, one loss trading can mess up overall plan trading because desired to revenge or recovery losing trade in short time
Jun 08 2021 at 06:59
The biggest reason of failure is lack of knowledge. Jumping into live trading without having enough knowledge of the market can never let you stay longer in this game.
Jun 08 2021 at 07:53
Many do not pay attention to what is happening, a certain volatility, that the market sometimes changes, and therefore will not reduce it correctly to apply in trading.
Jun 09 2021 at 11:16
Cordawield posted:You are right. Many traders don't follow the market condition and situation.
Many do not pay attention to what is happening, a certain volatility, that the market sometimes changes, and therefore will not reduce it correctly to apply in trading.
Alexthetrader posted:Yes. You are right. lack of knowledge is the main reason to loss the money.
The biggest reason of failure is lack of knowledge. Jumping into live trading without having enough knowledge of the market can never let you stay longer in this game.
Overconfidence is a direct path to failure and loss, so learn to control yourself.
Success is the combination of few things. A good market analysis and discipline are the most important. Both requires knowledge and skills. Getting discipline in trading is the most difficult part.
