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How to increase trading skills ?

Ben Nathan (BenNathanFX)
Jan 15 2016 at 08:22
137 postów
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
HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions
FXtrader2010
Jan 15 2016 at 09:32
724 postów
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.
HalleyFX
Jan 15 2016 at 15:36
83 postów
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.
mlawson71
Jan 18 2016 at 12:18
1487 postów
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.
kieran (snapdragon1970)
Jan 18 2016 at 12:54
1946 postów
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.
"They mistook leverage with genius".
AliForexTalks
Oct 30 2021 at 12:58
94 postów
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.
Akasuki
Nov 05 2021 at 10:53
512 postów
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.
skihav
Nov 05 2021 at 15:44
801 postów
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.
croisssan
Nov 06 2021 at 09:39
939 postów
The best option is training. Moreover, it is important to study on a demo account so as not to lose money in vain.
LyudmilLukanov
Nov 06 2021 at 15:28
796 postów
Practice in the demo account as much as possible to improve your skill. That’s my idea.
SteveHanks
Nov 06 2021 at 17:31
536 postów
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.
dutchy1986
Nov 08 2021 at 16:27
42 postów
rockiee posted:
hey , guys

how do you increase trading skills.
Keep learning
pipham
Nov 15 2021 at 08:05
53 postów
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.
croisssan
Nov 15 2021 at 14:45
939 postów
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.
uxStyle
Nov 16 2021 at 06:53
32 postów
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.
shortant
Nov 23 2021 at 04:45
73 postów
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.
RobSchiz
Nov 24 2021 at 07:43
567 postów
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.
GraceGilm
Nov 26 2021 at 15:51
154 postów
only you need to increase the time of your practice and training, this tandem gives excellent results at the end
brianna
Nov 30 2021 at 06:30
30 postów
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.
Lauren (LHill97)
Dec 01 2021 at 12:27
10 postów
Honestly, for me it was just practice and time in the markets.
Keep a trade journal - it's not exciting or sexy but it keeps you accountable and understanding the decisions behind your trades.
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