5 Things I have learned in 5 years of trading!

This particular question makes me perplexed to choose only 5, as all traders have a lot to share. Some of them are-

• Trading demands a calm and cool mind with a determined heart full of patience.
• A broker is not mandatory in trading.
• Never trust blindly the 'trading masters' of social media platforms.
• In trading one has to be a receptive student or learner first, then they may be a successful trader.
• Trading is not the supernatural element that can make you rich within a day.

ceceliagreerr posted:
This particular question makes me perplexed to choose only 5, as all traders have a lot to share. Some of them are-

• Trading demands a calm and cool mind with a determined heart full of patience.
• A broker is not mandatory in trading.
• Never trust blindly the 'trading masters' of social media platforms.
• In trading one has to be a receptive student or learner first, then they may be a successful trader.
• Trading is not the supernatural element that can make you rich within a day.

Broker is definitely an important factor in trading. You need a reliable and trustworthy one to do any type of serious trading

Many traders analyze the market wrongly that results in massive loss. After analyzing the market, match your analyzed result with others so you can be cleared about its authenticity. In our traders, technical analysis is mostly preferred.

Marcolis posted:
Many traders analyze the market wrongly that results in massive loss. After analyzing the market, match your analyzed result with others so you can be cleared about its authenticity. In our traders, technical analysis is mostly preferred.

Massive loses shouldnt occur if people have a proper trading plan

It’s not just your basic learning that helps you make money but also the lessons that you learn while trading and after making mistakes. Don’t depend on what you have done in the past and focus on what you can do in the future and how you can take advantage of every changing market condition.

Learning is crucial. But experience adds even more to that learning, as experience makes you go through various successes and losses that make you a successful trader.

Fandango posted:
It’s not just your basic learning that helps you make money but also the lessons that you learn while trading and after making mistakes. Don’t depend on what you have done in the past and focus on what you can do in the future and how you can take advantage of every changing market condition.

That’s very true! Traders should be able to turn a situation to their advantage by using their wit and skill to analyse potential future profit goals. It’s better to look at the bigger picture, always.

Fandango posted:
It’s not just your basic learning that helps you make money but also the lessons that you learn while trading and after making mistakes. Don’t depend on what you have done in the past and focus on what you can do in the future and how you can take advantage of every changing market condition.

I think experience from trading over time is invaluable and certainly helps us to make better decisions in different conditions as we grow as traders.

Vomitoryy posted:
Learning is crucial. But experience adds even more to that learning, as experience makes you go through various successes and losses that make you a successful trader.

I agree that experience is crucial. Start practising on a demo account to build your confidence so you won't feel lost when trading with real money. Since you initially lose money before gaining momentum and steadily moving toward success, it is very simple to stop trading forex. Trading is the only way to gain experience, so you have to jump in and start trading. You will lose some trades and win some, but eventually you will learn and start making money.

In the course of work, I learned quite a lot of useful things that I use. I think that in the course of work you can really learn a lot.

Experience is the greatest teacher, which can teach us many things that books or courses might not have because our experience is ours. By learning continuously from both good and bad experiences, we can become successful.