Feb 02 at 11:37
Sarjohn posted:
For a newcomer it is important to gather all knowledge about Forex first and then practice trade on demo accounts before going for a live account.
Any specific time for which one should demo trade? I think it varies from trader to trader, isn't it?
Feb 05 at 08:30
You are right, this is all individual, but roughly they offer, I recommend trading for about 2 - 3 months on a demo account.
Feb 05 at 10:30
Having a proper risk management plan is something every trader should work on. No matter if they are new or advanced.
Feb 09 at 08:17
Newcomers should have sufficient knowledge of Forex and the most important factor required is patience.
Feb 25 at 10:26
TradeHut posted:
Newcomers should have sufficient knowledge of Forex and the most important factor required is patience.
Absolutely right. Few traders fail to realize that success takes time and often fall prey to their own impatience. It could either be a rough environment, market volatility, or charts could be hard to read, the wise decision would be to back off and forget about it.
Feb 25 at 10:45
New traders should make proper plan before starting the trading.
Feb 25 at 11:56
Yeah and even entering and exiting the trade at the right moment is something that requires a lot of patience. Waiting for the right trade opportunities is something that traders find difficult. This is the reason why practicing demo account trading is suggested. There are reliable brokers out there like xm and fxview with good platforms. See if these suit you and invest some time instead of wasting your money.
Feb 26 at 04:47
Explain something to me here. Sitting in the chair and watching the market move while I wait “patiently”, how will it reap me any profits when I’ll be missing out on trading opportunities?
Feb 26 at 12:11
PercymcDonnell54 posted:
Explain something to me here. Sitting in the chair and watching the market move while I wait “patiently”, how will it reap me any profits when I’ll be missing out on trading opportunities?
See now that’s the idea, you needn’t rush into bad currency trades. If they don’t come up in that particular session, there’s always next. It’ll be worth the wait and patience.
Mar 08 at 11:00
Joz8 posted:Sarjohn posted:
For a newcomer it is important to gather all knowledge about Forex first and then practice trade on demo accounts before going for a live account.
Any specific time for which one should demo trade? I think it varies from trader to trader, isn't it?
Yes it totally depends upon the trader i traded almost 5 months on a demo account before going to a live account.
