starmyth posted: I’m not sure I can relate because I’ve been trading for 4 months now and I’m starting to get agitated with it. The demos are boring after a while but I’ve read they are important so I was trying.
I think you are thinking a lot about this. If you want to enter the forex market, you will have to learn how it works or you’ll end up losing everything. As far as demos go, I traded for about 5 and a half months on them with Avatrade and Turnkeyforex and then moved to live. It is not that easy but if you adopt the right trading mindset, you will definitely see the results of your hard work. Good luck mate!
Idk I think I’ll just stick around for another month or so or maybe go live soon. Anyhow, thanks for responding.
I don’t agree with you on this. Demo accounts are meant for our initial practice and to make us prepared for the live trading. You should spend enough time learning through demo instead of considering it boring.
Forex is not an easy thing, but if you trade through proper knowledge and skill development, you can make the future brighter by trading. Many people do a lot to be successful so Forex trading has come up with great opportunities for them. But to survive in trading, you must first learn. If you do not learn to trade, you may face many unexpected losses.
Tremblay posted: Forex is not an easy thing, but if you trade through proper knowledge and skill development, you can make the future brighter by trading. Many people do a lot to be successful so Forex trading has come up with great opportunities for them. But to survive in trading, you must first learn. If you do not learn to trade, you may face many unexpected losses.
I can't agree with that. It is not just about knowledge and efforts. It is more like wining the olympics. It is not enough just to train hard. You must have the right genetics, the right trainer, the latest undetectable doping etc.... So most of the people don't even stand a chance.
For trading knowledge is very important. It makes us more powerful trader. But knowledge becomes power only when we can apply can it. To apply knowledge, discipline is important. The more knowledge you will acquire the expert you will become. To cope with the volatile market there is no alternative to knowledge.
Most traders are not able to maintain discipline. I also could not maintain discipline at one time. Later when I saw that the percentage of my loss was high, I tried to maintain discipline with the plan.
Due to impatient people open trade before their strategy gives signal. Suppose I am trading on H1 charts. To open a trade I have to wait to form the candle. Many traders can not have the patience to let the candle form.
The only trading style where impatient traders can make money is scalping. In other trading strategies, a trader earns only when he learns to keep his hands in the pockets and only do anything when he is very sure about his decision. Continuously entering and exiting positions only leads to high trading costs and less or no profit.