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How to Be an Expert in Forex Trading: Some Tips

Richard Bills (RichardBills)
Jan 17 2017 at 15:47
74 postów
mlawson71 posted:
Great advice. I too, though, would say that there’s no need to stick to MT4 alone, there are plenty of platforms one can choose from, depending on what they need.

Precisely! There are also pure market research platforms that could be used as well in addition to support analysis, if the selected trading platform lacks capabilities. 😄
vontogr (togr)
Jan 18 2017 at 07:33
4862 postów
leo23 posted:
Steps:
=====
1.Study the forex market and mt4 usage
2.Find a system suitable for you
3.Backtest the system by strategy tester for at least 2 years of past data
4.Forward test the same system in demo account for 3 months
5.Forward test in cent real account for 3 months
6.Go for live trading in a standard account risking not more than 1% to 2 % per trade

Agreed
janettte
Jan 20 2017 at 14:06
30 postów
johnnapiranha posted:
I've been learning all I can and practiced on demo for a year & half. I wanted to develop a strategy that works for me using as few indicators as possible. I ran 3 demo accounts into the ground before I was able to become profitable in demo for several months. I went live last week, and I feel optimistic. I met my goal for my first week. I'm hoping it will continue.

After 1.5 years I see it is still hot enough to cut it 😉
Why would you like to use very few indicators?
Good luck in your live trading and keep up the good start!
DailyProfits (mohdforex)
Jan 29 2017 at 06:45
24 postów
Understanding the very basics of candle movements is the best start. Why is the candle turns bullish or bearish? How does it move? Who move the prices? If u get the basics right, u don't need indicators to trade. Trading in demo is totally different from live account. It lacks the emotions that comes with trading your own money. The key lesson is money management. Get this right and your fundamentals right, you will a be a successful trader.
jackwilliams
Jan 31 2017 at 13:27
22 postów
Here are the few steps that according to me must be kept in mind while trading on forex:

1. Plan your goals and stick to it.
2. Select your broker carefully and also go through the terms & conditions.
3. Pick your account type, set the leverage according to your needs & expectations.
4. Get deep insight of the factors that can affect the movement of the market, study both technical and fundamental factors.
5. Always study your own success and failure and take notes properly.

If you follow the above mentioned steps you can surely achieve your goals and can become an expert in trading.
vontogr (togr)
Jan 31 2017 at 13:34
4862 postów
mohdforex posted:
Understanding the very basics of candle movements is the best start. Why is the candle turns bullish or bearish? How does it move? Who move the prices? If u get the basics right, u don't need indicators to trade. Trading in demo is totally different from live account. It lacks the emotions that comes with trading your own money. The key lesson is money management. Get this right and your fundamentals right, you will a be a successful trader.

Nope.
You need to learn the way to trade which suits to you.
This is not necessary candles...
MC85
Feb 02 2017 at 15:04
48 postów
jackwilliams posted:
Here are the few steps that according to me must be kept in mind while trading on forex:

1. Plan your goals and stick to it.
2. Select your broker carefully and also go through the terms & conditions.
3. Pick your account type, set the leverage according to your needs & expectations.
4. Get deep insight of the factors that can affect the movement of the market, study both technical and fundamental factors.
5. Always study your own success and failure and take notes properly.

If you follow the above mentioned steps you can surely achieve your goals and can become an expert in trading.

Yes, makes sense, indeed a common sense 😄 Good luck to you in trading by these rules!
jameshallow07
Feb 05 2017 at 07:31
12 postów
Investors have a troubling trait i.e. the more vagueness we face, the more anxious we get. The uncertainty of world event scares us. We have desire for somebody to make sense of it. However, no one can predict future. We are usually attracted to experts who claims what lies ahead for the economy & the market. Expert portfolios generally do not beat the market on a risk adjusted basis during the period of study. Holding this portfolio assists one to minimise the unnecessary risk which is not likely rewarded as a simple market index which has a diversified portfolio as a better option.
jackwilliams
Feb 05 2017 at 07:32
22 postów
MC85 posted:
jackwilliams posted:
Here are the few steps that according to me must be kept in mind while trading on forex:

1. Plan your goals and stick to it.
2. Select your broker carefully and also go through the terms & conditions.
3. Pick your account type, set the leverage according to your needs & expectations.
4. Get deep insight of the factors that can affect the movement of the market, study both technical and fundamental factors.
5. Always study your own success and failure and take notes properly.

If you follow the above mentioned steps you can surely achieve your goals and can become an expert in trading.

Yes, makes sense, indeed a common sense 😄 Good luck to you in trading by these rules!

Thanks MC85 :) Good luck to you also for your trading. 😄
darren (darrengreg)
Feb 06 2017 at 12:57
37 postów
I guess it takes a lot to become an expert in forex. You ought to be disciplined and patient and follow a proper trading plan to emerge as a successful trader. A clear mindset and thorough research can help you manage your risks and boost your earnings. Also one should learn to accept losses in forex. Some days you gain, some days you lose! But you learn constantly. Be consistent but do not overtrade. It surely is a hard win success but if you go by the forex rules, you can surely be an expert in forex.
jameshallow07
Feb 06 2017 at 14:53
12 postów
Step 1: Don’t Procrastinate
Step 2: Practice more and more of trading
Step 3: Learn from your mistakes
a. Develop a Strategy & stick to it
b. Do not over trade on the demo account
c. How to become a successful trader

Forex trading can be worked with an internet connection from anywhere in the world. We talk about technological developments, these help in all over the world. Thus, Forex traders are usually blessed with strong growth potential and lifestyle would certainly help a lot in long run.
Samm
proyecto
Feb 27 2017 at 16:10
36 postów
Aprenda a adaptarse rápidamente a los cambios. Si el lado 'ganador' está cambiando, no dude en modificar su estrategia inicial al lado del éxito. No se obsesione con ninguna transacción. 😄
jhonix
Feb 27 2017 at 21:33
37 postów
The size of the position tells us how much you will risk throughout the operation.
You will achieve your goals through your strategy to determine the size of the position. In fact, 90% of your performance is due to the size of your position, so you should spend more time planning your position-size strategy than any other aspect of your system.
phill
fellipefx
Feb 28 2017 at 21:07
20 postów
jameshallow07 posted:
Step 1: Don’t Procrastinate
Step 2: Practice more and more of trading
Step 3: Learn from your mistakes
a. Develop a Strategy & stick to it
b. Do not over trade on the demo account
c. How to become a successful trader

Forex trading can be worked with an internet connection from anywhere in the world. We talk about technological developments, these help in all over the world. Thus, Forex traders are usually blessed with strong growth potential and lifestyle would certainly help a lot in long run.

Of course, we must learn from our mistakes. Good point!.

Not always is won nor always lost. We must bear in mind that it is a market of probabilities and unexpected movements and that, possibly, if we invest in Forex we will lose a percentage. The thing to avoid is that profits, after all, exceed that percentage of losses.
Samm
proyecto
Mar 01 2017 at 00:07
36 postów
Consider diversifying your portfolio.

Forex (foreign exchange) is one of the instruments you can consider to balance your investment portfolio. Trading on Forex does not fit all investors, so if you are interested in putting a very strong part of your financial resources within the Forex market be fully aware and warning of the risks and rewards that entails doing so because it is not recommended Invest everything. The same applies if you are going to manage your investment, diversify your risk by not putting all your faith in a trade because diversification is the key; No matter what financial instrument you are investing.
Baldo (BaldoN)
Mar 01 2017 at 09:47
522 postów
Hello,
There are perhaps many, many tips how to become or how to be successful trader and many traders just either copy/ paste or just say what they hear, but the question is 'how many of those tips are really followed?' :)
mario123
Mar 02 2017 at 07:17
14 postów
proyecto posted:
Aprenda a adaptarse rápidamente a los cambios. Si el lado 'ganador' está cambiando, no dude en modificar su estrategia inicial al lado del éxito. No se obsesione con ninguna transacción. 😄

My friend, I think you have made a mistake in writing in Spanish.
mario123
Mar 02 2017 at 07:24
14 postów
BaldoN posted:
Hello,
There are perhaps many, many tips how to become or how to be successful trader and many traders just either copy/ paste or just say what they hear, but the question is 'how many of those tips are really followed?' :)

You wrote something very smart. According to what you say @baldo all those who have written should have a successful mega trade because all the advice is very good.
I particularly know of excellent tips but I have not applied them, however, I have other very good ones that I have applied and they have been very useful to me. So everyone !!! Please apply those super tips that are out there!
penelopeisla
Mar 02 2017 at 08:14
5 postów
i just want to share my experience. i have been with itrader for a week now and all is going there with a good level of customer service.
AnneB
Mar 03 2017 at 08:15
14 postów
Be sure that if you really love trading, you should also love reading. Reading and monitoring the movement of the market can really help you in trading. I have find this Global Market Update (https://www.funds-money.com/) very helpful especially if you are really on the process of reading about commodities, stock and forex.
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