Feb 28 at 13:40
New traders should be content with 1-2% profit per month on average. This requires immense dicipline from newer traders who WANT to trade and be involved. I suggest newer traders should set up 2 accounts and use one account as gambling account to satisfy these urges to trade and test new ideas out.
Feb 28 at 14:08
Every trader at their 1st account tries to get a performance equal to their demo account. Well, there is a huge difference between demo and real accounts, don't try to match the performance just look to preserve your capital. If you can do that I guarantee by the 5-6 month your performance will be better than the interest your money earns in banks and how the markets perform.
Feb 28 at 14:43
I think new traders should do demo trading first. If he can develop a strategy by trading a demo, he can get some good rewards from trading.
Mar 01 at 04:16
AliaDare posted:
I think new traders should do demo trading first. If he can develop a strategy by trading a demo, he can get some good rewards from trading.
Demo is a risk-free account. Always start trading with demo account.
Mar 01 at 08:30
Knowledge without practical application has little value. Knowledge becomes powerful when we apply it effectively. It's the practice that helps us using our knowledge effectively.
You have to understand that human nature are selfish and wanting more, so they are never satisfied and will hope and aim to reach higher and hoping to achieve more than they can.
New traders need to understand that demo trading and live trading are two different things. They should not expect the same results through live trading that they achieved with demo trading.
Mar 06 at 09:08
As long as they are aware about forex and understanding the risk behind them, it will be good to go
Mar 06 at 09:40
I think the risk should not be more than 2%. Taking more than 2% risk can put the account at risk.
Mar 06 at 10:30
That is correct 1-2% is enough..that should be the target.
