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How to Be an Expert in Forex Trading: Some Tips
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mlawson71

Biedrs kopš Dec 11, 2015  1486 ieraksti mlawson71 Apr 13 2017 at 13:26
There are many important factors that influence good trading - money and risk management, knowledge, experience, patience, discipline, etc.etc. I don't think that we could call any one of those more important than they others, they are all important.

hjacob

Biedrs kopš Jan 31, 2017  30 ieraksti hjacob Apr 17 2017 at 07:29
mlawson71 posted:
There are many important factors that influence good trading - money and risk management, knowledge, experience, patience, discipline, etc.etc. I don't think that we could call any one of those more important than they others, they are all important.


Rightly said, combination of all the above factors mentioned is really very important. One must know that forex success is a mixture of preparation and zeal to become a successful trader. It takes consistent efforts and discipline to yield success.

hjacob

Biedrs kopš Jan 31, 2017  30 ieraksti hjacob Apr 19 2017 at 08:54
The most important mantra to be an expert in forex trading is trade with discipline and consistently follow your trading plan. Successful trading is directly proportional to how disciplined one is, and despite of having best trading strategy if a trader doesn’t trade in discipline it can all be ruined.

penelopeisla

Biedrs kopš Feb 20, 2017  5 ieraksti penelopeisla Apr 20 2017 at 06:24
Traders who are experienced will often tell you that becoming a depend on two factors, first being the execution and the second the type of service you receive from your broker.

RubenRuby

Biedrs kopš Mar 30, 2017  7 ieraksti RubenRuby Apr 30 2017 at 06:24
I don't think that the broker is that important at all. It is mainly the strategy that is important

AmDiab

Biedrs kopš Apr 18, 2017  254 ieraksti AmDiab May 18 2017 at 06:55
It’s not an automatic profession, I see many Forex traders are struggling here although they have more than 5 years trading experience, that means their learning process was wrong! By the way, I have no particular target here, I am just working hard to learn technical and fundamental analysis, yes I have already made my live trading plan according to my previous trading experience!

BaldoN

Biedrs kopš Feb 12, 2016  482 ieraksti Baldo (BaldoN) May 18 2017 at 14:06
Tips will not help to become expert in trading. Experience I proper mindset is needed :)

togr

Biedrs kopš Feb 22, 2011  3689 ieraksti vontogr (togr) May 19 2017 at 09:10
RubenRuby posted:
I don't think that the broker is that important at all. It is mainly the strategy that is important


Well imagine situation when you make profit with your strategy
but broker refuses to pay you the profit or even the deposit.
Isnt the choice of broker more important than strategy?
As in strategy you can limit your loss but loss with bad broker is unlimited...

I like what I trade, I trade what I like
yumpikho

Biedrs kopš Nov 18, 2016  6 ieraksti yumpikho May 24 2017 at 06:57
sandysr posted:
The foreign exchange market or the forex market is considered to be the largest and most liquid financial market in the world in terms of regular turn over. The extremely volatility of this market makes it the most popular global financial market. Because of its high liquidity, everyone wants to trade in this market in order to make some more money. But trading in the forex market is not an easy task. They have to follow some steps in order to execute the trade. A novice trader should have a clear idea about the forex trading and he should open an account with a forex broker, who will help them trade forex in a profitable way. A forex calendar is an essential tool for trading forex. The trader should practice trade in a demo account before executing trade on a live platform.
The forex market is not for the inexperienced person. So before trading in the forex you should follow the below discussed steps that are shared by https://www.easymarkets.com/eu/.

Know yourself and recognise the market:
In order to make profit in the forex, you should recognise the market properly. And to do so, you first have to know and recognise yourself. Once you have gained self-awareness, you can be sure that the capital allocations to forex trading and the risk tolerance are neither excessive nor lacking. You should be confident enough to study carefully and analyse your own financial goal.

Make a plan and stick to it:
If you have already made your mind to trade in the forex, a time frame must be included in your working plan for your trading. Know what success is and how can it be achieved. You need to have clear idea about the timeframe for the trial and error process that is an important part of your learning. Be sure about what you want to trade. Do you want to trade for financial independence, or you want to generate extra income? Before executing the trade, you need to be sure about all this. Before trading, make sure how much time you can devote to your trading.

Select your broker carefully:
This is a major step for the novice traders to choose their brokers very carefully, as your profit or loss mainly depends on them. A fake or unreliable broker can ruin your money; on the other hand, a reliable honest broker can offer you a great profit. Before choosing the broker, you need to be sure if the broker is offering you a good platform or not. A good broker with a poor platform or a poor broker with a good platform can ruin your trading.

Start with a small amount:
Once you have chosen your broker and practiced enough on the demo account, start trading on the real one with a small amount of money. This is mainly because if you lose the trade, you will lose less amount of money, and you will gather more experience.
Good and Practical advice. Thank you!

Penfold101

Biedrs kopš Mar 15, 2017  9 ieraksti Penfold101 May 24 2017 at 14:09
I would also add that you should start on demo before starting with a real account. Even if it is small

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