Mohammadi posted: A number of novice traders start their live trading too earlier before completing their task in demo! That’s the main reason of 90% faultier statistic in Forex! I see, which traders are making right now handsome money in their live account, they all of used their demo account more than one year! So, if you want to enjoy their live trading, spend enough time in your demo!
Good advice. Test your trading plan on demo if you succeed trade live otherwise you loose money
That statistic is also false and taken out of context, I love when people throw that around, 95% of NEW traders lose money in their first year, and nearly 100% of traders blow their first account, but in context (overall) In a study done of all active accounts from US brokers, approximately 38-40% of traders make money, now while it is true the majority of DAYTRADERS lose money through the course of the year, due to staring at charts all day which causes them to make silly decisions, many many swing traders are profitable. The fact is, you have to do research behind that statistic before you through it around as an absolute truth, if you want to use forex as a full time income, it is far easier to do it as a swing trader, then a day trader, and making 8% a month isn't very hard to achieve (not every month of course, summers have lower volatility and the second half of december you should just take off from holidays) but as long as you adopt the slow and grow approach, make no more then 2 trades a day, and never have more then 4 trades running at a time (preferably no more then 2 running at a time so you are able to properly monitor and manage the trades) then you will be fine. Another statistic is among all retail traders, 60% of all trades make money, and 40% lose money, if everyone used proper risk management, everyone would make money, of course there will always be imbalance as more traders have to lose then win so that people are able to make profits, but you get my point I assume, just as if you dont
'What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power.' - 50 Cent
'But long before reaching Havona, these ascendant children of time have learned to feast upon uncertainty, to fatten upon disappointment, to enthuse over apparent defeat, to invigorate in the presence of difficulties, to exhibit indomitable courage in the face of immensity, and to exercise unconquerable faith when confronted with the challenge of the inexplicable.' http ://truthbook.com/urantia-book/paper-26-ministering-spirits-of-the-central-universe
Thank you for the link. These stats look interesting but they are quite old... I think we cannot simply throw numbers without specifying the group of people they relevant 😄 It's interesting to see how much of the well prepared new traders actually become successful, excluding the hazardous majority that take trading like going to casino.
I agree that is a good point and something I overlooked, also the stats I gave are updated every single quarter just takes a bit of searching to grab them, the US brokers are required to give their traders profitability figures.
If you want to earn very rapidly from this trading place first of all you have to acquire most powerful analyzing trade knowledge by learning. so, it would be great if we choose the broker which always ensures exclusive educational facilities.
PriceAction13 posted: If you want to earn very rapidly from this trading place first of all you have to acquire most powerful analyzing trade knowledge by learning. so, it would be great if we choose the broker which always ensures exclusive educational facilities.
Broker's educational facilities are not important. There are plenty of resources. There are many other factors that should affect your brokers choice.
If you can learning Forex accurately of course you will be benefited, it’s a common message. And we beginners don’t get motive by means of this as usual suggestion to continue Forex trading. Can you please add advanced level message instead of this ?
Mohammadi posted: If you can learning Forex accurately of course you will be benefited, it’s a common message. And we beginners don’t get motive by means of this as usual suggestion to continue Forex trading. Can you please add advanced level message instead of this ?
@Mohammadi dont take it personally but none of your post make any sense. Perhaps you use google translator, perhaps you are a bot, I dont know. The point of this topic is simple: traders are loosing money it would be better to take that money and take care about the family
There are many important things we the traders have to focus when choosing a broker, from all I think spreads is an important financial tool which an investor should consider when choosing a broker, if we have lowest trading spreads we the traders can make profit with certainly by using any kinds of trading strategies in particularly the scalping that brings profit in a short time.
the market is simple 1% is winning 9% is trade breakeven 90% lose in trade if you whant to be in the 1% percent than you have to learn how to trade. en work hard on it en hope you are capable to understand the real flow of the market . also not always go blindly follow peoples .