General advises and experiences sharing for forex traders

[Shing1985]

Forex is a great way of earning and you can make a great amount of money if you have skills and knowledge.

 

[Electric Rainbow]

Forex Trading is very risky, and you need to learn about risk management and money management to gain success in the same.

 

[Beahelm]

General advice for those traders who are only at the beginning of their trading career is that never give up and never let your emotions get your down. You have to understand that the success is directly depended on your efforts, intentions and goals. If you give up, just remember your goals and intentions, remember how energized you were when you started. Some traders give up this activity after couple of losses, however they can't understand that there is a huge success right after losses. Experience matters here a lot, and you gain only when you try hard and never look back. Just beleive in yourself.

 

[Electric Rainbow]

Forex could be your worst nightmare if you have obtained certain skills and knowledge, else it is the best way to make money.

 

[Pelanali]

The psychology of a trader or trading is character education. Many people cannot control themselves if something went wrong the way they wanted.

 

[Electric Rainbow]

Forex Trading could only work if you have control over your emotions and to do that you need to learn about certain skills like risk management and money management.

 

[Shing1985]

Choosing a broker is very important and we should consider some things like customer support, low lot zie, and leverage. Also brokers should be regulated.

 

[Fistragos]

The main thing is to understand that Forex does not just give money. Usually forex takes them away. If you want to make money here, you don't understand the market.

 

[Shing1985]

Check out some Forex forums to get input from people who are already trading. There's a wealth of information hiding in Forex trading forums. It's one place where you can research both bad and good experiences with different Forex brokers.

 

[sunar14]

Check out some Forex forums to get input from people who are already trading. There's a wealth of information hiding in Forex trading forums. It's one place where you can research both bad and good experiences with different Forex brokers.

I also pay attention to reviews a lot especially for my current broker Hotforex often it helps to shed light on some subtle moments in the interactions between trader and the broker like spread and execution speed changes when traders starts to win often. You can't find this info anywhere except from first-hand expereince.