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Time now: Jun 1, 12:00 AM

General advises and experiences sharing for forex traders

Lots of promise but no method—I'd ask: how do you manage risk and entries? Without that, 'huge profits' could mean huge losses
You are right. The desire to get a huge profit in a short time borders on huge risks of losing all your capital. Therefore, it is better to earn more conservatively, but also to do it more stably, minimizing losses on unsuccessful trades, which will necessarily occur when trading on any strategy.
 
I trade with constant risk control and make transactions only according to the rules of my proven trading strategy. Therefore, I earn more than I lose.
 
Copying trades is a popular feature that allows novice traders to repeat trades opened and closed by more experienced and successful traders. But with such trading there are also risks of losses. Despite the fact that you are copying "successful" traders, there is no guarantee of future profits. Past results do not guarantee future results. The trader may start losing money, and you will lose with him. Also, you learn absolutely nothing, but simply mindlessly copy other people's actions and decisions, which will not contribute to the emergence of the necessary knowledge and skill in market analysis, which, in my opinion, will not be able to turn you into a competent and profitable trader.
 
My weakness is that I often close profitable deals very early, after which the price continues to go further in the direction of closed deals and the opportunity to earn more is missed.
 
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Once I realized screen-stalking cost me opportunities elsewhere, I set strict viewing hours. It’s amazing how much focus that regained has improved my decision‑making
 
There is a proverb that practice makes a man perfect. Do you think that this proverb is suitable for Forex market. I think it is true. If you practice demo trading, follow the basic rules of Forex trading and thus in this way you can get proper training through this practice then you surely do better in Forex business. What do you think about this?
 
I know that knowledge is such an integral part of becoming a successful trader. But how much knowledge do we need? IS basic knowledge about forex literature already enough? Is knowledge from demo practice will do? Or both sources of knowledge is important? give me your opinions so that we can enlighten the beginners.
 

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