The only rules you need to start being a profitable trader

The growth of a trader is an exhausting journey. The market hits all the technical and psychological weaknesses we have one by one. It causes losses and painful emotions. It’s not easy to become profitable trader for suer!
By technical unpreparedness, I mean a broader preparation for trading: in particular, for managing the sudden situations that can occur in the market. Most traders start by focusing on the promise that the markets make and neither want to nor know how to or think it is important: that the markets can take any money quickly.
That’s usually the first painful lesson. And after it comes the next ones, except that a very large number of them are…in my opinion, unnecessary. Especially the most painful ones, because they can break any trader’s career.
Lack of preparation leads to losses and psychological pain, which depending on the situation may lead to attempts of revenge trading from where it is a direct way to even greater losses and margin calls.
The solution is: proper preparation.

hi. i'm newbie and have some questions. so how to carry out this correct preparation? is it worth it train on demo accounts for a long time? or is it real acc?

Demo is good to test your strategy but beyond that it's a waste of time.

For this topic i recommend you watch some of Tom Hougaard's videos on youtube.

I think what you should do is focus on learning and studying the market sentiment. Understanding the conditions and changes will help you figure out a plan to override it and yet come through with profit returns.

I agree with Freddi
I know few online class that's really gonna shape you up!! In no time

True. There are a lot of things that go into it, it even takes some aspects of your personality when it comes to discipline, but one of the best things new traders can do is start by being prepared. If you spend enough time learning and you're truly ready, then you have a much higher chance of success and are less likely to get discouraged from the beginning.

Trading spread is always considered an important aspect. But those who are traders should trade in low-spread-consuming trading pairs because it enlarges trader’s return.

It cant be narrowed down to one rule but if i had to then never chase losses would be my number 1

Learn on demo, and then trade with small amounts on live, Don’t indulge in overtrading, take risk into account and in case of losses, stay positive, take it as a lesson.

Proper preparation is very much needed to become a successful trader over time. You should always start trading with a well defined plan. It is better to continue with demo account practice until you feel confident enough to trade on a real account.

Practice on a demo account, and trade wisely with proper study of the fundamental, technical, and chart analysis. Always remain calm and avoid impulse trading when making losses.

Fx_keeth posted:
Practice on a demo account, and trade wisely with proper study of the fundamental, technical, and chart analysis. Always remain calm and avoid impulse trading when making losses.

I agree with you, buddy. Before starting real trading, practicing on a demo account is the best thing a beginner can do for himself.

Scalping is the easiest form of trading and traders rely on this type mostly in both good and bad conditions of the market.

KAnthony posted:
hi. i'm newbie and have some questions. so how to carry out this correct preparation? is it worth it train on demo accounts for a long time? or is it real acc?

Start with a demo as you learn how to trade and then when you develop a strategy that will give you an edge in the market, you can go liive

It is important that we prepare well before entering the forex market as a trader. It will take some time for a beginner to become skilled and profitable. They need to continue learning and improving their skills until they become consistent.

Zylostar posted:

KAnthony posted:
hi. i'm newbie and have some questions. so how to carry out this correct preparation? is it worth it train on demo accounts for a long time? or is it real acc?

Start with a demo as you learn how to trade and then when you develop a strategy that will give you an edge in the market, you can go liive

hi. thanks for your recomendation. how long it takes you to open live account??

Forex trading is one of the most thrilling possibilities you will ever have. However, in order to be a great forex trader and produce consistent returns, you must first grasp how forex trading works. You must trade with a plan and build a strategy that works for you. Develop trading skills and proper psychology. Practise in a demo account and go live when you gain expertise. Success won’t come in a day so be patient.

Yes, becoming a profitable trader is not easy. Your only weapon in the market is a thorough understanding of the market and trading. You will also need to work on related skills such as risk management, analysis, and emotional control.