How to increase trading skills ?

HalleyFX posted:

FXtrader2010 posted:

dianajs posted:

FXtrader2010 posted:
How to increase trading skills: practice not loosing money. That is all you have to to do.

That is often easier said than done. That said, I agree.

of course it is, look at all the forums with people posting, after the fact.
who said trading is easy?

He's 100% right!!!!!!

Rule #1 Don't lose money
Rule #2 See rule #1
Rule #3 Become obsessed not losing money!

My tip, open a live account, do like maximum of like 1k. That's fun money nonetheless and trade like 9-11 weeks, if your still in the game and breath and eat forex (or other preferred commodity) trading every single day. You will become very successful.
Talk only about trading everyday (just not your wife *wink*, with whoever you meet).

Technically, you have to go to sleep and plan that next trade during your sleep. If your this type of trader, you'll make it!!

The more you obsess about losing money the more you will lose , I can promise you that. Losing money is apart of trading that the worlds best have to deal with. I've been trading for years and do it as a full time living and forex is my sole income but I still have losing streaks - look at my may 2014! Still - 50% up in 12 months.

You actually need to accept that losses will be part of the process - the actually need to accept that and not care when you get a loss and keep trading like it never happened and keep building that long term curve

BenNathanFX posted:

HalleyFX posted:

FXtrader2010 posted:

dianajs posted:

FXtrader2010 posted:
How to increase trading skills: practice not loosing money. That is all you have to to do.

That is often easier said than done. That said, I agree.

of course it is, look at all the forums with people posting, after the fact.
who said trading is easy?

He's 100% right!!!!!!

Rule #1 Don't lose money
Rule #2 See rule #1
Rule #3 Become obsessed not losing money!

My tip, open a live account, do like maximum of like 1k. That's fun money nonetheless and trade like 9-11 weeks, if your still in the game and breath and eat forex (or other preferred commodity) trading every single day. You will become very successful.
Talk only about trading everyday (just not your wife *wink*, with whoever you meet).

Technically, you have to go to sleep and plan that next trade during your sleep. If your this type of trader, you'll make it!!

The more you obsess about losing money the more you will lose , I can promise you that. Losing money is apart of trading that the worlds best have to deal with. I've been trading for years and do it as a full time living and forex is my sole income but I still have losing streaks - look at my may 2014! Still - 50% up in 12 months.

You actually need to accept that losses will be part of the process - the actually need to accept that and not care when you get a loss and keep trading like it never happened and keep building that long term curve

I never said be obsessed about losing money, depending what strategy you use, SL's are part yes.
I said just don't lose. Meaning, do research and work to understand the market and your own system. Don't listen to gurus on myfxbook and other forex related nonsense. One person can be happy with 50% , one can be happy with 20% a year.

What I mean, with be obsessed not losing money is why most aspiring traders fail, is jumping out to quickly out of winning trades. And letting losing trades run in the hope that it turns around. So be obsessed not losing money!! If it is a losing trade than it is a losing trade, than it is a lost, close it and not needed to lose money.

I used to work for an investment bank, and in 2014 when a person had lost x of %'s of the equity or took to much risk. That person would need to bring coffee around for 1-3 months.

True. Learning when to cut your losses and get out of a losing trade is about one of the most important lessons for a trader. Unfortunately it's really difficult to ascertain when doing so is being prudent and when you're doing it out of paranoia that you'll lose money.

HalleyFX posted:
What I mean, with be obsessed not losing money is why most aspiring traders fail, is jumping out to quickly out of winning trades. And letting losing trades run in the hope that it turns around. So be obsessed not losing money!! If it is a losing trade than it is a losing trade, than it is a lost, close it and not needed to lose money.

I used to work for an investment bank, and in 2014 when a person had lost x of %'s of the equity or took to much risk. That person would need to bring coffee around for 1-3 months.

Yeah or get your card de-activated while your out to lunch,lol.

Top 10 Ways to Quickly Improve Your Trading Skills:

1: Start a trading journal.
2: Get Help.
3: Practice.
4: Purchase Trading Software.
5: Study the Big Names.
6: Take Only Risks You Can Afford.
7: Create Standards for Trading Activities.
8: Learn the Difference between Rumors and Data.

Write down all your entries. Do not open any trade if can't explain to yourself why you want to open that trade. Write down the mistakes you did and find a way not to do same mistake again.

The best option is to try working on a demo account. For training, this is really a very good and, most importantly, an affordable option.

The best option is training. Moreover, it is important to study on a demo account so as not to lose money in vain.

Practice in the demo account as much as possible to improve your skill. That’s my idea.

Akasuki posted:
Write down all your entries. Do not open any trade if can't explain to yourself why you want to open that trade. Write down the mistakes you did and find a way not to do same mistake again.

Yes. That is a very good suggestion.

rockiee posted:
hey , guys

how do you increase trading skills.

Keep learning

The only way to hone your trading skills is through practice. There is a huge difference between knowing something and being able to implement it. Only with continuous practice, a trader can find out his trading behaviour, what works for him, what needs to be fixed and what not.

The best option is to try your hand at a demo account. This way you can work out new strategies and gain the necessary experience.

There are no particular techniques for improving skills, because every trader does itaccording to his abilities and opportunities. Traditional way to upgrade skills is to practice actually. Moreover, we shouldn't forget about learning theory, because it also matters in this case. The combination of learning and practicing can ensure your fruther success in particular activity, and everything is the same with trading activity.
You have to understand that everything comes with practicing, experience, skills and knowledge. If you want to be the master of trading, you should dedicate lots of time to it.

You can increase trading skills by practising on a demo account, learning from experienced traders, and keeping up-to-date with market news and trends.

croisssan posted:
The best option is to try your hand at a demo account. This way you can work out new strategies and gain the necessary experience.

Yes. A demo is the best place to learn all the basics of forex properly.

only you need to increase the time of your practice and training, this tandem gives excellent results at the end

Trading skills are not acquired overnight. To acquire skills you have to have a fair amount of knowledge and understanding of the market. And over a period of time your knowledge and understanding change and form a skill set for trading.