General advises and experiences sharing for forex traders

[RainbowRain]

Yes, there is no point in risking big money right away when you are a beginner and do not have the necessary experience, skills and practice to save and increase this money. Therefore, it is better to risk small investments at first, creating and testing your strategy and learning to trade with risk and emotion control. For example, my broker has the opportunity to open an ECN account with instant execution and favorable trading conditions, starting from only $ 100.

 

[RainbowRain]

For me, a demo account is a good opportunity to test the quality of different indicators and strategies without damaging my real capital. After all, we never know how a strategy found online will work in real market conditions to immediately risk our money when trading it. First, you need to make sure how it works, what its strengths and weaknesses are, and what exactly needs to be changed in it after testing, optimized and improved to bring it into working order. And only then open your real account.

 

[Aaron_0]

Trading manually has resulted in losses for me, which is why I'm thinking about switching to copy trading, but I'm not sure where to begin. Can you help me with this?

 

[Aaron_0]

A successful trade is when you have enter at the right time and buying the right pairs. You also exit at the right time that allow you to profit from it. You have used stop loss and you follow your trade to make sure you take profit before it dips. You also use modest capital and leverages to avoid large losses. You traded with low spread, highly demanding pairs in 2 or more market openings. You trade during stable market conditions. What about you?

 

[Aaron_0]

Trading requires specific knowledge and skills. And you do not get skilled overnight. Trading is not a easy task to do. It is one of the difficult task in the world. That's the reason 95% fails to make an impression. Everyone has his own understanding. If you think you have the potential to do good, giving up is not an option.

 

[Aaron_0]

Agreed its more than five trillion dollar industry which flows globally wo if we learn how to make money from forex trading we can easily make good amount of money.

 

[Aaron_0]

Forex trading is not about being unlucky or lucky, it's about being consistent in profit making over years. So forget about luck, focus on attaining knowledge and skills.

 

[Aaron_0]

If a trader open more than 20 trades, long term and scalp per day, is there anything wrong with that picture? Do you think its healthy or profitable to open that many trades per day? However, if you really know how to trade, you could open that many and still profit from most of them whether from buying or selling or holding on for the long term if you have capital for it. Have you ever open that many trades before?

 

[Aaron_0]

Almost all methods give profit if you follow the method properly. Most traders take impulsive decision while opening a trade even when they method doesn't allow them to open the trade. So controlling emotions is very important.

 

[Elijah_0]

Nearly all trading methods can be profitable if followed with discipline. However, many traders act impulsively, ignoring their own strategy and entering trades emotionally. This lack of control often leads to losses. Emotional discipline is crucial in trading—following your plan strictly, even during pressure, is what separates successful traders from the rest.