By trading we can make

If traders want to earn maximum profit from forex, they must avoid the bad habit of being hurry and hasty. Profit is assured by calm work and slow, sensible work. Profits can be obtained through technical and fundamental analysis. The market's news should always be kept in mind by traders. With a 0.02 lot size, big profit can be achieved in good trading time. However, this is only for a very strong signal.

Williamfreed posted:
If traders want to earn maximum profit from forex, they must avoid the bad habit of being hurry and hasty. Profit is assured by calm work and slow, sensible work. Profits can be obtained through technical and fundamental analysis. The market's news should always be kept in mind by traders. With a 0.02 lot size, big profit can be achieved in good trading time. However, this is only for a very strong signal.

Couldn't agree more on this buddy!

UweMoench posted:
@LukeRachel Yes good trading skills, money and risk management skills are the key. A trader also need to know when to trade and when to have patient.

Of course, this is a very important part. The trader needs to know when he will be able to enter/exit the trade. And it requires patience and plan.

By trading, we can make good profits if we put our hearts into it. Although, getting high returns entirely depends on the skillsets, experience, and knowledge of the trader. I think that no matter how much we trade, there’s still some amount of knowledge left for us to gain.

If we want to be a success we have to pull full efforts to it and trading is not an exception. This activity implies lots of learning and patience. These things are of huge significance. Traders constantly need to adjust to the market which is always changing.

UweMoench posted:
 By trading we can make good return but only if we have enough knowledge, experience and skills. Otherwise making money in forex market is the most difficult task in the world.

Of course, these skills are needed. It seems to me, however, that psychology should be given the highest priority. Because making a profit in emotional trading is very complicated.

I don't quite agree with the statement that trading is the most difficult activity for making money. However, I fully agree that without experience, skills and knowledge we reach nothing in trading. I believe that the main goal for rookies should be gaining knowledge and experience by learning and practicing, and only then they can think about income. Trading is such an activity which should literally monetized. Firstly, you dedicate all your time to it, then you will provide yourself with everything you need, like a gratitude for your efforts. Trading activity is very generous in this matter.

I would say that otherwise it is impossible to make any consistent decent returns. Surely, in order to be a success on the forex market you need to obtain knowledge and skills, but you should also control your body and soul and you should never let your emotions control your decision making process.

Mekhi_Jerde posted:
I would say that otherwise it is impossible to make any consistent decent returns. Surely, in order to be a success on the forex market you need to obtain knowledge and skills, but you should also control your body and soul and you should never let your emotions control your decision making process.

Your argument is correct, it is not possible to make money in Forex without knowledge. So you have to control emotions and trade through knowledge gain.

Mekhi_Jerde posted:
I would say that otherwise it is impossible to make any consistent decent returns. Surely, in order to be a success on the forex market you need to obtain knowledge and skills, but you should also control your body and soul and you should never let your emotions control your decision making process.

Knowing about the market and having skills is one thing and being able to apply it properly to get success is another thing. I feel many traders are good at knowledge. They have read plenty of books, taken courses but when they are subjected to real market conditions, it’s a different ball game!

I am one of those traders. I have read so much material online but either 90% of it is just rubbish or I do not know how to use it in a real market condition. Whenever I try to use the strategy I learned I end up losing money. Very frustrating

Trading is very beneficial to anyone who understands the market and makes consistent decisions accordingly.

You have to be educated in order to make money as a forex trader in the same way you'd need to be educated to be a lawyer, doctor, or to have any other type of job. Even fast food workers need training. Yet, for some reason many people want to jump right in and open a trading account to get rich without putting in the effort to learn first. When those people fail, they assume it is the most difficult thing and impossible.

LyudmilLukanov posted:
Trading is very beneficial to anyone who understands the market and makes consistent decisions accordingly.

Yes. A trader who has enough knowledge and experience can easily make money from this market.

UweMoench posted:
 By trading we can make good return but only if we have enough knowledge, experience and skills. Otherwise making money in forex market is the most difficult task in the world.

Yes asking as you spend time learning what it’s all about and not rushing into anything

Yes! If you are well versed with the forex market and know how to manage risk and emotions properly, you can do wonders in trading.

HeavLeighGill26 posted:
You have to be educated in order to make money as a forex trader in the same way you'd need to be educated to be a lawyer, doctor, or to have any other type of job. Even fast food workers need training. Yet, for some reason many people want to jump right in and open a trading account to get rich without putting in the effort to learn first. When those people fail, they assume it is the most difficult thing and impossible.

You said just what i was just thinking. Traders, especially beginners, have such a high expectations when it comes to making bucks.

It's no different from any other high paying vocation. It takes years of education, study and practice to get good enough to earn the decent money. Saw as law, medicine, any sport etc.

HeavLeighGill26 posted:
You have to be educated in order to make money as a forex trader in the same way you'd need to be educated to be a lawyer, doctor, or to have any other type of job. Even fast food workers need training. Yet, for some reason many people want to jump right in and open a trading account to get rich without putting in the effort to learn first. When those people fail, they assume it is the most difficult thing and impossible.

Absolutely. The only difference is that in forex you can educate by your own but education is a must for sure.