Always diversify with various regulated brokers and low risk systems & strategies with low risk. Use Stop Loss.
wmsgfred posted:
Always diversify with various regulated brokers and low risk systems & strategies with low risk. Use Stop Loss.
I am all for difersification, but one should also remember not to go overboard with it or following all of one's accounts can be difficult.
This market is too much volatile and there is nobody who can predict the real faction of this market with certainly , that’s why for keeping survive in here we the traders have to depend on our trading strategies that we select according to our trading experience. First of all we traders have to ensure real money managing plan if we get maximal result by our trading strategies.
I am pretty sure that professional traders profiting from the market are able to predict its movements through analysis to a decent degree of certainty.
as a newcomer, first thing you need to do is to common in Forex trading and that means you need to have lots of extra time not only in trading but in learning also. And the most important thing is that you need to spend lots of time practicing and not going to make profit or don’t expect to get profit in the first two months. But practically mostly newcomers don’t believe the importance of demo account and try to make money very rapidly without learning.
How do you know most newcomers don't believe in demo trading?
Too long demo trading may let you build some wrong market understanding and to get afraid of start trading with real money :)
It is really good when you have to learn how to work with different trading platform or to test new strategy in conditions similar to real without any risk (to get approximate overview how the system would deal, but still not exact due to luck of real execution) :)
It is really good when you have to learn how to work with different trading platform or to test new strategy in conditions similar to real without any risk (to get approximate overview how the system would deal, but still not exact due to luck of real execution) :)
BaldoN posted:
Too long demo trading may let you build some wrong market understanding and to get afraid of start trading with real money :)
It is really good when you have to learn how to work with different trading platform or to test new strategy in conditions similar to real without any risk (to get approximate overview how the system would deal, but still not exact due to luck of real execution) :)
That's true. One has to take off the training wheels at some point, or at least put smaller ones by opening a small initial account.
According to me, the trading can be easier if you have proper trading plan , real money managing approach , knowing the ability how to manage risk , real time of using Stop Loss , proper trading analysis and much more. Otherwise not.
mlawson71 posted:Jimmblack posted:
It's easy to start trading and lose at all. Open the demo account first and start to improve your knowledges. that is my opinion.
Gaining knowledge and experience also requires a lot of studying a lot of theory, trading on a demo account is not enough.
But with the help of demo account you have the opportunity to improve your knowledges, your trading, etc. Theory is nothing without practice.
