Search results

Yes everyone newbie should practice and focus on learning. In forex without skills earning is not possible. No matter how long you are trading. Skills and experience is the key to success.

To improve patience we need to be realistic. When it comes to forex trading, people become illogical. They want multiply 100$ in a day. Market moves all the time doesn't means all the pips are yours. Be realistic and treat it like a normal business.

Yes for successful trading consistency is the key. Some random winning trades do not help in success. Achieving consistency is the key in trading.

There is no exact answer to the question how much one can earn. It's a risky business so you can also lose all the money. Your earning will depends on how much skills you have. No skills No money.

Watching market can be good if you want to learn about movement of the market. But usually newbies open a lot of unnecessary trades when watch market a lot.

The problem with beginners that either they have been told that trading is easy or they think themselves that trading is easy. Thus they never feel the urge in deep learning.

I prefer floting spreads then fixed spreads. Good broker gives you zero spreads account with commission. But I found it profitable than no commission account. In no commission account usually spreads are higher.

Do not trade out of assumption. Learn how to trade effectively. Don't be hurry. It needs time to be profitable. Don't chase pips. Focus on developing skills and abilities, pips will come automatically. Do not treat forex like gambling.

Achieving knowledge and getting skilled is not easy. Actually it takes a long time to get skilled and most people are not willing to give time for getting knowledge. Unfortunately they can waste time for nothing.

Yes practice is important in trading but one to need to practice in a systematic way. Random trading will not help. One needs to develop strategy by practicing on demo. Only then practice will be fruitful.

Scalping is not for newbie. It requires a lot of skills and experience. When a newbie tries to scalp he ends up doing overtrading. It's the story of every new trader.

I treat forex as a business. It is also a business like other business. But the difference is most people in forex take impulse decision. This is what make the forex business risky. If you follow the rules of risk management and can control your impulse you can get huge success in this business.

New traders should focus on learning. Developing skills in the key in the Forex market. If don't have skills you can't make money.

Gold market is more unstable thats why it is more risky to trade in gold. If you are not expert enough it's better to stay away from gold.

Most traders think it's easy to make money in the Forex market but the reality is opposite. It's the most difficult tast in the work to make regular money in the Forex market.

Unrealistic profit target is one of reasons people blow out their account. In no other business, people expect to make 100$ into 200$ or 300$ in 2 days.

Forex market is unstable. You have to learn to make money from it. If anyone thinks it's not for him, he can do other business.

Demo trading is important for any trader. For newbie it's the place to get familiar with trading system. And for others here they can test their new strategy performance.

Fundamental analysis is very important if you know how to do it. Because it needs deep understanding of the economic factors of related countries.

Every good trader has his own trading system. They stick to their plan. To know the future movement of a pair you should have good knowledge of fundamental.