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.
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.
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 2021 at 04:16
AliaDare posted:Demo is a risk-free account. Always start trading with demo account.
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.
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.
I think the risk should not be more than 2%. Taking more than 2% risk can put the account at risk.
Mar 06 2021 at 10:30
That is correct 1-2% is enough..that should be the target.
Newcomers should focus on others inevitable part of trading besides acquiring good trading knowledge. Controlling emotions , avoid revenge trading , over trading , money management ,RR and much more things they have to observe for avoiding unfortunate loss.
New traders should make a good plan to make money from this risky market.
A newcomer to this market should clearly understand that drawing up a trading plan gives him a very good opportunity to be confident in his abilities.
If the beginner sticks to the key points, then he will achieve good results.
The problem with beginners that either they have been told that trading is easy or they think themselves that trading is easy. Thus they never feel the urge in deep learning.
For a new trader, it is a must for him to follow the rules of the market and must start practicing over a demo account and should develop a trading strategy and should test it with demo trading and if it works he can go forward with it to make a profit with real trading.
Apr 14 2021 at 02:24
I have to make a separate plan for each trade. If my plan is right, I have to maintain discipline and participate in the trade. I try to earn 10% monthly. And does not take more than 2% risk for a trade.
Yes, it is anyway difficult to make money. Keeping the expectations low is a good thing for beginners.
Setting up 2 accounts is a very good tip, especially for beginners who are unsure about how to get started in the market. Even making 1 to 2% profit can be a target.
Setting up 2 accounts is a very good tip, especially for beginners who are unsure about how to get started in the market. Even making 1 to 2% profit can be a target.
Well let's just say if you want to pamper then it's better do it on a demo account. In order not to lose that 1-2% profit per month when testing new strategies.
Akasuki posted:Yes, new traders think a forex is a money-making machine so they refuse to make a profit. Plan and discipline can make trading profitable.
The problem with beginners that either they have been told that trading is easy or they think themselves that trading is easy. Thus they never feel the urge in deep learning.
May 18 2021 at 00:15
Money management is very important in trading. If money management is followed with the plan, it will be difficult to make a profit.
