The main here is to set a goal, actually you successfully handled this task and I guess that the next step for you is to start gradually explore the main peculiarities in trading activity. After it you can start set financial goals. In my opinion, the first task for you is to learn how to lose money. I've not mistaken actually, it's really like that. If you will learn how to lose money, then probably it won't be difficult for you to learn how to earn them. The vast majority of traders can't admit the fact that trading on your initial stages is just the easiest way to lose money, because you're learning and you have to sacrifice something.
Books I've read: market wizard series, Trading in the Zone, Naked Trader
Strategies: ORB Tony Crabel, Larry Williams Range Trading, Inside bar trading
My Problem: confused
Stock traders state don't trade forex as it's a mean reversion market
Trading style is based on your personality but what if I don't know my trading personality?
I've PAID for Forex education BUT it just teaches THEORY pattern recognition and Price Action
Why the trend in UK on Forex and nothing on Options Futures trading (my observation)
I've started LIVE trading....every trade goes against me....
Diff schools of thought on trading...owhich methodology? Dow theory? Wyckoff method?
Experienced traders which path do I go down?
A trader can’t make a cogent decision until he has a good analytical knowledge. Long-term trading is the best approach of trading. So, analyze the market properly before taking a trade. A strong analysis helps a trader forecast the market well.
Trallod posted: The main here is to set a goal, actually you successfully handled this task and I guess that the next step for you is to start gradually explore the main peculiarities in trading activity. After it you can start set financial goals. In my opinion, the first task for you is to learn how to lose money. I've not mistaken actually, it's really like that. If you will learn how to lose money, then probably it won't be difficult for you to learn how to earn them. The vast majority of traders can't admit the fact that trading on your initial stages is just the easiest way to lose money, because you're learning and you have to sacrifice something.
Hello there, it is natural to feel a little shaken as soon as you start trading. Just make sure you know the risks you’re taking and place stop loss to minimise losing. Keep learning and keep up the dedication and patience to get where you want to! Cheers!
As a trendy business, Forex is highly famed and no other market can beat it. How amazing it is that you are trading in this largest money market sitting home. However, coping up with the market condition is a little tough but nothing impossible as experts are already doing.
Yes, consistency is like a brick but once it is broken, it takes time to recover. For consistent profit making, try to follow a profitable strategy so that you can be the gainer ultimately. It’s the result of persistence, perseverance and hard work.
Hi newbie. I should say that it is okay to feel this way, overwhelmed and confused. Most of us have gone through this when learning about the forex market. I suggest you should first open a demo account and apply your learnt theory there. Look, forex trading is all about how you practically apply your knowledge, how you use them in building trading plans, and how you use your knowledge in analysing the market movements. A demo account will help you practise without the risk of losing money. You can search youtube videos on demo accounts if you find difficulty in getting started. Spend at least a minimum of 6 months and then try in a live account again. All the best!
Understanding the trading process is not as easy as it is thought. Cautious trading is very much needed for a trader because Forex is a scary if a trader is not cautious. Traders should learn all the terms and using tactics of tools of Forex market because these are the issues that ultimately bring success for a trader.
If you are a newbie and want to become a trader, I must warn you that it will be a difficult journey. Learning to trade is not easy. However, with time and practice, you will be able to develop that level of confidence and knowledge.
The market environment is a risky place to be but with the right set of skills and knowledge, traders can find it less challenging. This is why many experts insist on learning properly. Take time to learn so you can make the right choices. Try to stay calm and control the situation to your benefit. With experience, you will be able to master this craft.
I would say, you should take your time to learn and only start trading when you feel confident enough to risk real money. A beginner is bound to feel confused as they learn so many theories and concepts. You have to gain some experience using a demo account to clear your head and filter out all the information you just learned.
Hi, in the beginning, it is not going to be a walk in the park. You will have to put in the hard work and give yourself enough time to learn and pick up new skills and improve your trading decisions. Good luck!
Hey, do not get discouraged due to the confusions you are getting. It is an usual process. Every new trader has to cope with it in the beginning stage. Make the most of the power of the internet. You can find useful information there and it will be helpful to achieve your goals.
Zaftig posted: Hey, do not get discouraged due to the confusions you are getting. It is an usual process. Every new trader has to cope with it in the beginning stage. Make the most of the power of the internet. You can find useful information there and it will be helpful to achieve your goals.
It will take some time for us to figure things out when we are new to something. It is a lot of trial and error until you find something that works for you. Read more books and also make use of the forum to see how other traders are doing. I am sure a lot of your confusion will clear up with experience of being in the forex market itself. Good luck!
AVERTISSEMENT SUR LE RISQUE ÉLEVÉ : Le trading de devises comporte un niveau de risque élevé qui peut ne pas convenir à tous les investisseurs.
Leffet de levier crée un risque supplémentaire et une exposition aux pertes. Avant de décider de négocier des devises, examinez attentivement vos objectifs dinvestissement, votre niveau dexpérience et votre tolérance au risque.
Vous pourriez perdre une partie ou la totalité de votre investissement initial. Ninvestissez pas largent que vous ne pouvez pas vous permettre de perdre. Renseignez-vous sur les risques associés au trading de devises et demandez conseil à un conseiller financier ou fiscal indépendant si vous avez des questions.
Toutes les données et informations sont fournies "en létat", uniquement à titre dinformation, et ne sont pas destinées à des fins de trading ou de recommandation.
Les performances passées ne sont pas indicatives des résultats futurs.