Now - a- days there are many TV programs and channels promoting online forex trading as an easy business.They are selling some software and they also tell us that it's easy to make money with this software.But if you think about it logically, if a person is having a software to make money then it's possible for him to make money with that software itself.But these sellers are not real traders, they know that the software won't work for a long time.That's why they are cheating people with coloured advertisements and so on.Never believe these scammers and don't buy any software from anyone.
If you want to learn, then you must learn only from a real forex trader who himself making money trading.Always before attending a forex trading course, ask the mentor to show his trading results.Verify the results with their broker.Only if it is true, then you can attend his course.He is the right person to teach you how to trade the forex market.So your trading trainer must made money through forex trading.It's very important.If he is not willing to show his trading results, then he is a scammer.Never waste your hard earned money with these scammers.
Learning(Practice in demo account):
Trading success = Patience + discipline + no fear +no greed + consistency+50% accurate strategy +1:2 risk reward +fixed risk(2-3%)
Its very simple. 1. have a good trading plan 2. execute plan 3. If it works continue, if not switch plan and go back to 1
Everything else like profitability, risk reward, etc is just specific plan.
Having trading strategy is necessary, but it is also necessary to implement it correctly. Don't get in trap of BS sellers, no fear and no greed, etc. - this all is full of sense , but in order to make sure that strategy works fine, demo account would be the most appropriate first step. If demo performs good trading for at least several months, one may change it to micro account, if success is repeated, then it is the time to open real account. The first and the most important rule for absolute newbies is to forget once and for all the idea about easy cash.
Bisulget posted: Having trading strategy is necessary, but it is also necessary to implement it correctly. Don't get in trap of BS sellers, no fear and no greed, etc. - this all is full of sense , but in order to make sure that strategy works fine, demo account would be the most appropriate first step. If demo performs good trading for at least several months, one may change it to micro account, if success is repeated, then it is the time to open real account. The first and the most important rule for absolute newbies is to forget once and for all the idea about easy cash.
Even if one does that going full-time trading is difficult, because your income has to be large enough and consistent enough to support you. I am not saying it's impossible, I'm far from that thought, but it is pretty hard and one should always have that in mind.
mlawson71 posted: Some people don't learn regardless how much time they spend in front of the charts. I think it's less about the time spent, and more about one's willingness and ability to learn and adapt.
Yeah,your right you have to change with the market.
Forex trading has a great profit potential and meets different trading requirements. But it's not the hard work that works in Forex trading but how smartly you trade that matters. That is why 90% traders lose. If you are smart enough then you can definitely make money with time. But before stepping into the real market, you need to follow some rules to become a professional trader:- Market psychology: Try to understand market psychology and reasons behind how it is reacting that way. More you understand the market fundamentals; more will be chances to gain in the long run. Get to know Forex market: Before making an investment tries to understand every single aspect of Forex market and how it works. Clear your goal: People are fascinated for Forex trading due to its profit making potential but you need to clear your goal whether it's a hobby or you want to opt as a profession and trade accordingly. Try demo account: Before making real investment, practice at least for 3-4 months. Don't think that you are wasting your time because it is the time you can improve your trading skills, build your confidence. Accept reality: Most of the traders expect higher returns in a couple of months which is not a realistic approach. You should have realistic expectations and only then you can succeed in this Forex world. Avoid emotional trading: - when we lose money we become more emotional and invest more money in order to get the lost money back. But it is the time we need to be more careful and should act as a disciplined Forex trader to avoid such type of emotional trading.
Ostrzeżenie o wysokim ryzyku: handel walutami obcymi wiąże się z wysokim poziomem ryzyka, który może nie być odpowiedni dla wszystkich inwestorów.
Dźwignia stwarza dodatkowe ryzyko i ryzyko straty. Zanim zdecydujesz się na handel walutami, dokładnie przemyśl swoje cele inwestycyjne, poziom doświadczenia i tolerancję ryzyka.
Możesz stracić część lub całość początkowej inwestycji. Nie inwestuj pieniędzy, których nie możesz stracić. Zbadaj ryzyko związane z handlem walutami i zasięgnij porady niezależnego doradcy finansowego lub podatkowego, jeśli masz jakiekolwiek pytania.
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