To think like a great trader you have to attain the skills of a great trader. Forex trading is a work of professional. You need specific knowledge and skills. It is not that you come and learn how to buy and sell and start making money.
Skill is the only thing we need to get success in trading. Market analyzing skills and emotions control skills both are needed. And it takes time to get those skills. So there is no short cut to make money in forex. It seems easy but it's not.
Results in Forex trading depend on your experience. The more you develop the skill, the faster the profit will increase. Trading requires a combination of many strategies and if the combination is not good, it is not possible to succeed. So it is very important to develop skills.
People know that they need skills but they are not willing to give time in learning. They become restless to make money that after few months demo trading they jump into live trading. Then their run for a ready made strategy begin.
We always advised by the senior traders and experts just for learning. but I think we the newcomers have to practice trading besides learning process. Demo account is more appropriate for them and as a learning Process newcomers can depend on Pips School.
Yes, maybe we need to change the main mindset, although the main goal become forex trading is making money, but here loss also as part of the game, so trading with fun and trading with rush maybe will different result, mostly trading with fun will more controlled than rush trading
FXOday posted: Yes, maybe we need to change the main mindset, although the main goal become forex trading is making money, but here loss also as part of the game, so trading with fun and trading with rush maybe will different result, mostly trading with fun will more controlled than rush trading
trading with rush will lead to emotional decisions which are ultimately losing decisions. I completely agree with you
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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